CA Kanan Bahl Profile picture
Nov 18 9 tweets 4 min read
A friend in US had to pay $2,000 (₹1.6 Lakhs) for Ambulance 🤯

Don't even ask me how much for the treatment😔

He could've avoided this if he had Travel Insurance 🤩

Here's all you need to know about TRAVEL INSURANCE👇
1/ What is Travel Insurance?

If you are travelling abroad and you-
-> Lose your passport
-> Misplace your luggage
-> Luggage gets stolen
-> Fall sick or meet an accident

or if your flight gets delayed,

Financial loss for the same will be covered by Travel Ins. to an extent
2/ How much cover?

There's a famous saying in the US,

"You have to sell yourself to get treated."

Doctors and Hospitals send bill separately.

If you have to get a surgery, don't budget anything less than $25,000 (INR 20L)

So on a safer side, have a cover of $25-30k at least
3/ What all is covered?

Apart from 1/ above

--> Compassionate visit of a family member when you fall ill

--> Accidental Death and Dead Body Repatriation - God forbid

--> In certain cases, non-refundable advance paid for hotels, flights etc. if you get diagnosed with Covid-19
4/ Key Points to Consider

Don't go by the quotes generated online/by agent

There are certain hidden clauses

I was getting it done for a client

I saw that cheaper quote policy's cover was $50k

But a clause was silently captured that they wont pay >$5,000 if the insured is 80+
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Many people are suggesting that Insurers don't pass claims citing some or the other loophole in their policy document.

These cases need to be reported to the IRDAI.

Either honour what you commit, or quit selling this product

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More from @BahlKanan

Nov 17
My relative passed away during covid 😥

Leaving a housewife, two kids aged 18 and 21 😔

And with a Home loan of 1 Cr+ and Car Loan of 15L+ 🥵

This could've been avoided via Term Insurance. Guiding about Term plans👇
1/ What is Term Plan?

Term Plan is an insurance product with pure risk cover

This means that if you have it and you die within the cover age

Your family gets the cover amount
2/ I won't get my premium back, if I stay alive?

No you won't. This is a wrong way of looking at it

Think of my relative

Paying 2k-4k per month on a cover of 2 Cr won't hurt much

Leaving your family with loans and without corpus to live ahead, will really pain you
Read 9 tweets
Nov 16
Meta laid off 11,000, Amazon to lay-off 10,000🥵

These are not loss making companies🤯

God forbid, it can happen to you as well😔

Here's how you can prepare financially for a recession👇
1/ Build Emergency Fund worth 12-15 months of Needs

Generally, I say that you should have it for 6 months

But on a safer side, if recession is here to stay,

you won't be drained financially even if it is for >1 year
2/ What all should Emergency Fund consist?

All your fixed expenses like

A. EMIs
B. Groceries
C. Power bill,
D. Kids' school fees
E. Medical expenses etc.

If total is INR 50,000 per month, set aside 12-15 times

i.e., INR 6,00,000 - INR 7,50,000
Read 11 tweets
Nov 15
You can get a ₹ 1 Crore health cover at just ₹ 10k p.a.🤯

No absurd assumptions or riders, promise🙏

Read on, I'll teach you how to get it 👇👇

And everything about Health Insurance 🤩
1/ Get a health cover of ₹10L and super top-up of ₹90L

Super top-up plans are generally less expensive

It offers financial relaxation when hospital bill crosses your base cover

But are such plans available at <10k pa for a 25 yo?🤔

Yes!🤩 Read to know more about riders👇
2/ How should I choose my insurance company?

Go to IRDAI's website and check for their Annual Report

See which all insurers have:

1. Claim Settlement Ratio of 90-95%+ AND
2. Incurred Claims Ratio of >70-75%

Choose any one of them!
Read 12 tweets
Nov 13
Most people take hefty Loans in their 20s🥵

They realise very late and stay in the rat race🐀

Starting right early can set you up for life 🚀

Here is a guide on investing in your 20s 🤩👇
1/ Get a Sufficient Health Insurance Cover

Nothing you read beyond here will matter

If you or your family needs hospitalisation and you don't have a sufficient cover

My grandfather was in Apollo for 40 days and the bill was INR 20,00,000+
2/ Estimate Your Financial Goals and SIP accordingly

What about 50-30-20 rule where we invest just 20% of income?

That's the bare minimum. Invest whatever you can

Be frugal in your 20s

You financial goals are usually gonna be bigger than what 20% can fund
Read 10 tweets
Nov 11
#FTX, a crypto exchange valued at $32 Bn went under🥵

$32Bn is INR 250,000 Cr+, i.e., More than HCL Tech and Wipro's valuation 🤯

What happened❓ Let's decode👇
A. Background

Alameda Research was founded in 2017 by Sam Bankman Fried

It was a trading firm in crypto space (think, Zerodha)

Later, Sam built an exchange - FTX, in 2019 (think, Bombay Stock Exchange)
FTX decided to expand its bouquet of services

They starting giving loans to customers

Who bought cryptos on loan and FTX charged interest against that

Later, they decided to bring their own cryptocurrency - FTX Token (#FTT)
Read 12 tweets
Oct 18
Tata Elxsi is down by 14% in 2 days 🥵

Even though the profits are 40% up YoY🫣

All this just because of ~6% drop in QoQ profits❓🤯

What to do❓ Read on👇 #TataElxsi
A. Financial performance

While revenue grew by 5.1% QoQ,

EBITDA dipped by 4.6%, PAT by 5.6%

And EBITDA Margins by over 3.1%

Mgmt has not re-assured about revival of margins yet
B. Is the fall justified?

There is hardly any dip in momentum of revenue growth

Margins and thus, profitability has dipped

But the consistent high margins over the last 2 years were the reason why market gave Elxsi a P/E of over 100 once

Now it is down to 66.2
Read 8 tweets

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