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Aid your house help with these 5 small investment plans
Posted on: 13/Sep/2017 12:19:40 PM
Home helps are slowly becoming inevitable for most of the working professionals these days. However, just paying salary is not going to suffice. It is possible for you to secure your house for just as low as Rs 25. For this, you ought to enroll yourself under various welfare schemes.
Old age
For everyone, old age security is most important. For this, you may get enrolled with Atal Pension Yojana scheme by the government. With this, you can get pension amount of Rs 1,000 to Rs 5,000 starting from your 60 years of age. The cost is subject to change based on your age though. For example, for an individual aging 18, it may approximately cost Rs 500 whereas for a 30-year old, the price may be Rs 1,400 annually for about Rs 1,000 pension in the later days. Until the age 40, one can get enrolled in this scheme. For this, they will have to contribute till their age 60. All the banks avail this scheme. This requires a bank account and Aadhar card from the individual for enrollment.
Life insurance
You can opt for a low-cost life insurance to protect your family. You have 2 options to go with.
The first is Pradhan Mantri Suraksha Bima Yojana. This encompasses accidental death and disability cover for up to Rs 2 lakh. For this, the annual premium is just Rs 12. It can be availed until the age 70 at all private as well as public sector banks.
The second is Pradhan Mantri Jeevan Jyoti Bima Yojana. The policy holder may get up to Rs 2 lakh. Under this, the sum can only be obtained in case of death of the policy holder. For this, the annual premium is Rs 330. The age limit to get enrolled under this scheme is 50.
Financial inclusion
It is important to be financially included in the economy if you wish to enjoy a better future. So, here is a zero balance savings account along with Rupay ATM card called Pradhan Mantri Jan Dhan Yojana. This comes with a life cover and in-built accident cover of Rs 30,000 and Rs 1 lakh respectively. For this, you will not have to spend a lot, but only open it up with the house help. Make sure that there is Aadhar card with the house help for this.
Health cover
You cannot deny the fact that medical treatments are too expensive. However, you need not worry about it as you have Rashritya Swasth Bima Yojana scheme from the government where you get up to Rs 30,000 for a family of 5. This is a cashless insurance for hospitalization. It encompasses all the pre-existing diseases right from day-1. For this, you should ensure that the name of house help is present in the government records for this scheme.
Education for your daughter
Similar to your own daughter, your house help’s daughter is also entitled for education. There is a scheme called Sukanya Samriddhi available at post offices. With this, one can get guaranteed annual returns of 8.3 percent. The annual contribution for the same is Rs 1,000. Ensure that the house help’s daughter ages below 10 for the same. Only then, you can enroll her name for the scheme. You may continue making contributions for the scheme until 21 years of age. Once the girl turns 18, a partial withdrawal is possible. A cap of 50 percent is however imposed.
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