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Kerala Rising Answer Book · Volume One

201 situation-first answers about money, family, NRI life, business, schemes, property, and farming in Kerala.

Life Insurance and Protecting the Family

  1. How much life insurance do I need?1
  2. I already have life insurance from work. Is that enough?2
  3. Term insurance or savings insurance. which problem does each solve?3
  4. Should I cancel my old LIC policy?4
  5. I have four insurance policies. What exactly do I have?5
  6. What happens to my home loan if I die?6
  7. Should my wife have life insurance if she does not work outside the home?7
  8. Can NRIs buy life insurance in India?8
  9. Does life insurance really pay if death happens overseas?9
  10. The insurer rejected our death claim. What can we do?10
  11. What does "sum assured" actually mean?11

Health Insurance and the Hospital Bill

  1. Is ₹5 lakh health insurance enough for my parents?12
  2. My parents are 70. Can they still get insurance?13
  3. What is a super top-up and do I need one?14
  4. My company already covers me. Why buy another policy?15
  5. What does cashless hospitalisation actually mean?16
  6. Why did insurance pay only part of my hospital bill?17
  7. What is room-rent capping?18
  8. What does 20% co-pay mean?19
  9. What is a waiting period?20
  10. Can an insurer reject me because I have diabetes?21
  11. Can I switch health insurers?22
  12. Should I insure parents separately?23
  13. What happens to my policy if I move abroad?24
  14. My health claim was rejected. What should I ask for in writing?25
  15. Is critical-illness insurance the same as health insurance?26
  16. My hospital says cashless was denied. Does that mean the claim is rejected?27
  17. What should I check before renewing my parents' policy?28
  18. Do I need personal accident insurance?29

"I Have Some Money." What Now?

  1. I have ₹1 lakh sitting in savings. Should I invest it?30
  2. I have ₹5 lakh. What are my options?31
  3. I sold land and received ₹25 lakh. What should I do first?32
  4. I receive ₹50,000 every month from abroad. Should I invest part of it?33
  5. Can I start investing with ₹500?34
  6. What exactly is an SIP?35
  7. Does SIP guarantee profit?36
  8. Should I stop my SIP when the market falls?37
  9. Is a mutual fund safer than stocks?38
  10. Can I lose all my money in a mutual fund?39
  11. What is an index fund?40
  12. What is an ETF?41
  13. What is a debt mutual fund?42
  14. What is a liquid fund?43
  15. Why do I have six mutual funds that all own the same companies?44
  16. My mutual fund is down 15%. What should I actually look at?45
  17. Should I invest a lump sum all at once?46
  18. What is an STP?47
  19. What is an SWP?48
  20. FD or mutual fund: what question should I ask first?49
  21. Gold or mutual fund?50
  22. Real estate or financial investments?51
  23. I don't want stock-market risk. What options should I understand?52
  24. What should stay in cash even if I am investing?53

Retirement, Parents and Monthly Income

  1. I am 58. Is it too late to start retirement planning?54
  2. I have ₹50 lakh for retirement. How much monthly income can it support?55
  3. Can ₹30 lakh produce ₹30,000 per month?56
  4. My parents live on pension and FD interest. Is that enough?57
  5. What is an annuity?58
  6. Should I buy an annuity?59
  7. Annuity or FD. what is the difference?60
  8. Annuity or SWP?61
  9. What does "return of purchase price" mean in an annuity?62
  10. Should husband and wife choose a joint-life annuity?63
  11. What happens to the annuity after both spouses die?64
  12. How much emergency cash should a retiree keep?65
  13. Should retirees invest in stocks at all?66
  14. What is SCSS and when is it useful?67
  15. Should my parents keep all their money in fixed deposits?68
  16. My father has accounts in five banks. Should we consolidate them?69
  17. What nominees should my elderly parents update now?70
  18. How do I organise my parents' finances before there is an emergency?71
  19. What financial documents should elderly parents tell their children about?72
  20. My parents refuse to discuss money. Where do I start?73

"My Father Died." Claims, Accounts and Inheritance

  1. My father died. What financial things should we check first?74
  2. How do I find all of my father's bank accounts?75
  3. How do I search UDGAM for a deceased parent?76
  4. How do I find forgotten bank deposits?77
  5. How do I know whether my father had mutual funds?78
  6. How do I claim a deceased parent's mutual funds?79
  7. My father owned shares. How do I find the demat account?80
  8. How are shares transferred after death?81
  9. What if there is no nominee?82
  10. What if the nominee is also dead?83
  11. Is nominee the same as legal heir?84
  12. The bank says we need a succession certificate. Do we always?85
  13. How do we claim a life-insurance policy?86
  14. How do I know whether an insurance policy existed?87
  15. What happens to an FD after the owner dies?88
  16. What happens to a joint bank account when one person dies?89
  17. Can legal heirs claim an old unclaimed deposit decades later?90
  18. My father had an NRE account. What happens after his death?91
  19. What happens to a gold loan if the borrower dies?92
  20. How do legal heirs get pledged gold back?93
  21. What benefits can a widow in Kerala qualify for?94
  22. What should we do with the deceased person's PAN and bank accounts?95
  23. What happens to a business when the proprietor dies?96
  24. How can I make my own finances easier for my children to find?97

"I Came Back from Dubai." NRI Money

  1. I am returning from Dubai permanently. What should I change financially?98
  2. What happens to my NRE account when I return to India?99
  3. Can I keep my NRE FD after returning?100
  4. What happens to my NRO account after I become resident?101
  5. What is an RFC account?102
  6. Should I convert my foreign savings to rupees immediately?103
  7. I returned to Kerala but still earn money abroad. What changes?104
  8. Can an NRI invest in Indian mutual funds?105
  9. Can an NRI buy Indian stocks?106
  10. Can US-based NRIs invest in every Indian mutual fund?107
  11. Can I buy health insurance for my parents while I am abroad?108
  12. I send money to my parents every month. Is there a better way to organise it?109
  13. I have ₹50 lakh of Gulf savings. Should I start a business in Kerala?110
  14. What business can a returning NRI realistically start?111
  15. Should I invest my Gulf savings or buy property in Kerala?112
  16. I own property in Kerala but live abroad. What should I organise?113
  17. How do I manage my parents' finances from overseas?114
  18. What happens to my Indian investments if I become a US resident?115
  19. What documents should an NRI family keep together?116
  20. I am retiring from the Gulf. How much money do I need to live in Kerala?117
  21. Can I receive retirement income in India from my investments?118
  22. Should I close old Gulf bank accounts after returning?119
  23. What NORKA assistance might apply after I return?120
  24. Should I start a business or invest passively after returning?121

Starting a Business and Dealing with the Bank

  1. I have ₹10 lakh. What business can I realistically start in Kerala?122
  2. I have ₹25 lakh. Should I buy a machine or keep working capital?123
  3. How much of my project cost should be my own money?124
  4. Does Udyam registration actually help me get a loan?125
  5. Can a bank ask for my house for a ₹15 lakh MSE loan?126
  6. What does collateral-free business loan actually mean?127
  7. Does collateral-free mean the bank has to approve me?128
  8. What is CGTMSE?129
  9. Can I ask the bank to use CGTMSE instead of my property?130
  10. Can I combine a bank loan and subsidy?131
  11. Should I apply for subsidy before buying machinery?132
  12. Can a business get subsidy after starting?133
  13. Does Pathanamthitta get any additional business incentives?134
  14. Can a service business receive an MSME grant?135
  15. Can I get a business loan without property?136
  16. Why did the bank reject my business loan even though I offered collateral?137
  17. What does a bank actually look for in a project report?138
  18. How much working capital do I really need?139
  19. What is DSCR and why does the bank care?140
  20. What is break-even?141
  21. Should I buy machinery with cash or finance it?142
  22. I saw a machine on Instagram. Is the business viable?143
  23. The machine seller says I will get 35% subsidy. How do I verify it?144
  24. Can I use my gold instead of collateral?145
  25. My customer has not paid for 45 days. What can I do?146
  26. Does an overdue MSME invoice earn interest?147
  27. What is MSME Samadhaan?148
  28. My customer is much bigger than me. Can I really file against them?149
  29. How do I prepare before approaching the bank?150
  30. Should I become a proprietorship, LLP or company?151
  31. Should a business owner have more life insurance?152

Subsidies, Grants and "What Am I Entitled To?"

  1. What is the difference between a subsidy, a grant and a loan scheme?153
  2. How do I find out what schemes I am eligible for?154
  3. Which documents do most scheme applications need?155
  4. What is back-ended subsidy?156
  5. Why do scheme applications take so long?157
  6. Are there schemes specifically for women starting a business in Kerala?158
  7. What housing schemes might my family qualify for?159
  8. What are PMJJBY and PMSBY, and should my family enrol?160
  9. What is Atal Pension Yojana and who should consider it?161
  10. Are there schemes for students and education loans in Kerala?162
  11. What is PM-FME and does it apply to a small food business?163
  12. Is there help for senior citizens beyond pensions?164
  13. Can NRIs or returnees access Kerala business schemes?165
  14. Someone offered to "get me the subsidy" for a fee. Is that legitimate?166
  15. If I default on a subsidised loan, what happens to the subsidy?167
  16. What is Mudra and who is it for?168
  17. What is a Stand-Up India loan?169
  18. How do I check the status of a scheme application?170

Family Money, Property and the Next Generation

  1. How do I save for my child's education without losing to inflation?171
  2. What is Sukanya Samriddhi and is it worth it?172
  3. Should I take a loan to fund my child's overseas education?173
  4. My son wants money for a business. Should I give it from my retirement savings?174
  5. Should I co-sign a loan for a relative?175
  6. How should a married couple organise money?176
  7. What should a woman keep in her own name?177
  8. Can I gift money to my children without tax?178
  9. Should property be transferred to children while parents are alive?179
  10. How do I make a will in Kerala?180
  11. How do I check if a property in Kerala has a clean title before buying?181
  12. How should siblings divide inherited property fairly?182
  13. Should I help my parents financially or push them to use their own money?183
  14. How much should we spend on a wedding?184
  15. My parent has early dementia. What financial steps should we take now?185
  16. A family member was in an accident and cannot work. What money is there?186

Farming as a Business: What the Promoter Video Leaves Out

  1. The video says I can earn ₹1 lakh a month from a small farm. Is that true?187
  2. How do I verify a farming promoter's claims?188
  3. What is a buy-back scheme and should I trust it?189
  4. What does it actually cost to start a small dairy in Kerala?190
  5. Is aquaculture in Kerala profitable for a beginner?191
  6. Is goat farming profitable in Kerala?192
  7. My rubber is not paying. What should I replace it with?193
  8. What agricultural schemes can a small farmer in Kerala actually access?194
  9. What is a Kisan Credit Card and should I have one?195
  10. Are there schemes for livestock in Kerala?196
  11. Should I start a food-processing unit using my own farm produce?197
  12. What is an FPO and should I join one?198
  13. How much of my savings should I risk on a new farm venture?199
  14. Where do I find honest data on a crop's yield and cost?200
  15. Is crop insurance worth it for a small Kerala farmer?201