USEFUL GUIDANCE TO SENIOR CITIZENSÂ
SENIOR CITIZENS - Guidance for Golden Age
 We have , over the years , published various articles relating to the needs of Senior citizens  relating to investment , health , insurance and Financial planning . Some of the articles with links areÂ
​1. On Financial Planning :  Long term retirement Planning for the young Â
         Â
2. On Health Insurance  :  SENIORS HEALTH INSURANCEÂ
                          Health insurance Options for retired BankersÂ
        Â
3. On Investment        : Senior Citizens Savings SchemeÂ
​                        PRADHANA MANTRI VAYA VANDANA YOJANAÂ
                        INVESTMENT OPTIONS FOR SENIOR CITIZENSÂ
                         INVESTMENT PLANS FOR RETIREESÂ
4. On Health            : Planning beyond Finance Â
​
5. For bank retirees      BANK PENSIONERS NEWS    Â
6. On on-line  submissions of Life Certificates for pensioners : LIFE CERTIFICATEÂ
Apart from the above articles , we have received  contributions from various readers , especially from USA  , requesting us to publish articles / links to articles  which are useful to senior citizens   . Synopsis to such articles / links can be found below . However we have not verified the accuracy or veracity of the facts in the articles . We hope the articles will be generally useful to  senior citizens  , especially from USAÂ
​  Â
​                       Â
​1. On Financial Planning :  Long term retirement Planning for the young Â
         Â
2. On Health Insurance  :  SENIORS HEALTH INSURANCEÂ
                          Health insurance Options for retired BankersÂ
        Â
3. On Investment        : Senior Citizens Savings SchemeÂ
​                        PRADHANA MANTRI VAYA VANDANA YOJANAÂ
                        INVESTMENT OPTIONS FOR SENIOR CITIZENSÂ
                         INVESTMENT PLANS FOR RETIREESÂ
4. On Health            : Planning beyond Finance Â
​
5. For bank retirees      BANK PENSIONERS NEWS    Â
6. On on-line  submissions of Life Certificates for pensioners : LIFE CERTIFICATEÂ
Apart from the above articles , we have received  contributions from various readers , especially from USA  , requesting us to publish articles / links to articles  which are useful to senior citizens   . Synopsis to such articles / links can be found below . However we have not verified the accuracy or veracity of the facts in the articles . We hope the articles will be generally useful to  senior citizens  , especially from USAÂ
​  Â
​                       Â
ALLOW SUBMISSION OF LIFE CERTIFICATES IN ANY MONTH OF RETIREES CHOICE : RBI COMMITTEEÂ
Dated 06.06.2023 :   The Reserve Bank of India had set up the Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) on May 23, 2022 under the Chairmanship of Shri B.P. Kanungo, former Deputy Governor, RBI. Â
Now the committee has submitted its report and has given exhaustive recommendations on various aspects of customer service in banks and other regulated entities  . With regard to the submission of life certificates by the retirees , the committee  has recommended that banks should be allow retirees  to submit LC in any month of their choice to avoid rush in a particular month.  Subsequent LCs can be submitted in the same month at annual intervals. The other recommendations with regard to the services to be rendered to the senior citizens includeÂ
 1. The banks should provide a dedicated telephone number where the senior citizens  can call for clarifications, queries and / or guidance with respect to service that they are eligible to avail / want to avail. This number should be displayed at all the branches / website of the RE and also be printed on the passbook / account statement, etc.issued to the senior citizen and disabled persons.Â
2 Banks may provide an option for the relatives of the senior citizens to pay upfront for the door-step services as well as other such conveniences, if any, to be availed by their elders.
​3. The pensioners should be able to submit Life Certificate (LC) at any branch of the bank in which they maintain their pension account. Moreover, they should be allowed to submit LC in any month of their choice to avoid rush in a particular month. Subsequent LCs can be submitted in the same month at annual intervals.
One can go through the report submitted by the committee by clicking here . They can also send their comments to RBI by email  cscommittee@rbi.org.in <cscommittee@rbi.org.in>; before 7th , July 2023 before RBI takes its final decision on the recommendations .Â
Dated 06.06.2023 :   The Reserve Bank of India had set up the Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) on May 23, 2022 under the Chairmanship of Shri B.P. Kanungo, former Deputy Governor, RBI. Â
Now the committee has submitted its report and has given exhaustive recommendations on various aspects of customer service in banks and other regulated entities  . With regard to the submission of life certificates by the retirees , the committee  has recommended that banks should be allow retirees  to submit LC in any month of their choice to avoid rush in a particular month.  Subsequent LCs can be submitted in the same month at annual intervals. The other recommendations with regard to the services to be rendered to the senior citizens includeÂ
 1. The banks should provide a dedicated telephone number where the senior citizens  can call for clarifications, queries and / or guidance with respect to service that they are eligible to avail / want to avail. This number should be displayed at all the branches / website of the RE and also be printed on the passbook / account statement, etc.issued to the senior citizen and disabled persons.Â
2 Banks may provide an option for the relatives of the senior citizens to pay upfront for the door-step services as well as other such conveniences, if any, to be availed by their elders.
​3. The pensioners should be able to submit Life Certificate (LC) at any branch of the bank in which they maintain their pension account. Moreover, they should be allowed to submit LC in any month of their choice to avoid rush in a particular month. Subsequent LCs can be submitted in the same month at annual intervals.
One can go through the report submitted by the committee by clicking here . They can also send their comments to RBI by email  cscommittee@rbi.org.in <cscommittee@rbi.org.in>; before 7th , July 2023 before RBI takes its final decision on the recommendations .Â
TAX REBATES FOR SENIOR CITIZENS
 TAX REBATES / CONCESSIONS FOR SENIOR CITIZENS IN FY 2022-23Â
PLEASE CHECK THE CONCESSIONS YOU ARE ELIGIBLE WHILE FILING IT RETURNSÂ
 Dated 27.04.2023 :  The last date for filing IT Returns for FY 2022-23 IS 31st , July , 2023 .  You may be aware that  you are eligible for certain rebates  on Income tax as a  Senior citizen which you may claim while submitting the returns . Below is  a list of such tax rebates you may be eligible .Â
​Following additional   rebates / concession on Income tax payments are available for the Financial year 2022-23 , provided you opt for Old Tax Regime  ( without accepting option under 115 bac of Income tax Act  ) :Â
1. Standard Deduction of Rs 50,000  on pensionÂ
2. Interest received by a senior citizen on deposits with banks / co-operative societies / post office  is exempted  up to Rs 50,000 under section 80 TTB  .Â
3. Deduction allowed on Health insurance Policies under 80 D is Rs. 50,000/- for senior citizens .For senior citizens, if no insurance amount is paid ,hospital expenditure up to Rs 50,000 is allowed . An assessee can claim additional Rs 50,000 for his/her parents if they are senior citizens .
In case there is no insurance premium is paid for the senior citizens , medical expenditure incurred on behalf of them can be claimed. Overall claim cannot exceed Rs 1,00,000 . All payments should have been made in any mode other than cash .Cost of preventive health check up up to Rs 5,000 can be claimed within the overall limit and it could have been made in cash also . ​ Â
For details of all tax rebates available, CLICK HEREÂ
4. A Resident senior Citizen is exempted for paying advance tax ,if he has  no income from business or profession .  He can discharge his tax liability  by paying self assessment tax .Â
5. TAX SLABS UNDER OLD REGIME : A senior citizen is given basic tax exemption up to Rs 3,00,000  and super senior citizen , above the age of 80 years , will have up to Rs 5,00,000 ( For  details of tax slabs , CLICK HERE )Â
6. Exemption from  deduction of TDS by submitting Form 15H :  A resident senior citizen who is above sixty years of age or completes sixty years during the financial year can submit form No. 15H provided his  estimated tax liability is nil for the financial year though the total amount of interest from all sources may exceed Rs. 2.50 lacs, the minimum amount liable for tax.  For details of Form 15H , CLICK HEREÂ
7. Relief from scrutiny of IT Returns : CBDT will not normally scrutinize IT return forms ITR1 & ITR2 submitted by senior citizens unless they are in possession  of credible information of violations of tax laws .Â
PLEASE CHECK THE CONCESSIONS YOU ARE ELIGIBLE WHILE FILING IT RETURNSÂ
 Dated 27.04.2023 :  The last date for filing IT Returns for FY 2022-23 IS 31st , July , 2023 .  You may be aware that  you are eligible for certain rebates  on Income tax as a  Senior citizen which you may claim while submitting the returns . Below is  a list of such tax rebates you may be eligible .Â
​Following additional   rebates / concession on Income tax payments are available for the Financial year 2022-23 , provided you opt for Old Tax Regime  ( without accepting option under 115 bac of Income tax Act  ) :Â
1. Standard Deduction of Rs 50,000  on pensionÂ
2. Interest received by a senior citizen on deposits with banks / co-operative societies / post office  is exempted  up to Rs 50,000 under section 80 TTB  .Â
3. Deduction allowed on Health insurance Policies under 80 D is Rs. 50,000/- for senior citizens .For senior citizens, if no insurance amount is paid ,hospital expenditure up to Rs 50,000 is allowed . An assessee can claim additional Rs 50,000 for his/her parents if they are senior citizens .
In case there is no insurance premium is paid for the senior citizens , medical expenditure incurred on behalf of them can be claimed. Overall claim cannot exceed Rs 1,00,000 . All payments should have been made in any mode other than cash .Cost of preventive health check up up to Rs 5,000 can be claimed within the overall limit and it could have been made in cash also . ​ Â
For details of all tax rebates available, CLICK HEREÂ
4. A Resident senior Citizen is exempted for paying advance tax ,if he has  no income from business or profession .  He can discharge his tax liability  by paying self assessment tax .Â
5. TAX SLABS UNDER OLD REGIME : A senior citizen is given basic tax exemption up to Rs 3,00,000  and super senior citizen , above the age of 80 years , will have up to Rs 5,00,000 ( For  details of tax slabs , CLICK HERE )Â
6. Exemption from  deduction of TDS by submitting Form 15H :  A resident senior citizen who is above sixty years of age or completes sixty years during the financial year can submit form No. 15H provided his  estimated tax liability is nil for the financial year though the total amount of interest from all sources may exceed Rs. 2.50 lacs, the minimum amount liable for tax.  For details of Form 15H , CLICK HEREÂ
7. Relief from scrutiny of IT Returns : CBDT will not normally scrutinize IT return forms ITR1 & ITR2 submitted by senior citizens unless they are in possession  of credible information of violations of tax laws .Â
FREE HELPLINE FOR SENIOR CITIZENS : ELDER LINE
ELDER LINE FOR SENIOR CITIZENSÂ Â
Dated 15.01.2023 :  The Ministry of Social Justice and Empowerment  in collaboration with National Institute of Social Defence and State/UT Governments has established a National helpline called ELDERLINE for the benefit of senior citizens .Â
Elder Line 14567 is a toll-free number operational from 8:00 AM to 8:00 PM, that provides free information, guidance, emotional support, field intervention in cases of abuse, rescues and reunion of homeless elderly driven by values of Consistency, Care, Empathy and Encouragement. Â
 The  purpose of the  initiative is to help the senior citizens by providing necessary information and direct help . Â
Currently, Elder Line has four sets of services:Â Â
1. Information
A. Health Related Â
B. Shelter / Old Age HomesÂ
C. Day Care Centres
D. Caregiver
E. Elder Friendly Products Etc. Â
2.  GuidanceÂ
​
A. Legal
B. Dispute Resolution
C. Pension Related
D. Government Schemes
E . Maintenance issues  Â
3.  HELP
A. Care and support for Abused
B. Rescue and Reunion of Homeless elderly
4. Emotional Support (for having just a chat)Â Â
A. Anxiety resolution
B . Relationship management & Family disputes
C. Loneliness
Senior citizens can call the TOLLFREE Number  14567  and seek  information on various  issues related to them and seek help in the case of necessity .Â
​For further details , you can visit their website ​
Dated 15.01.2023 :  The Ministry of Social Justice and Empowerment  in collaboration with National Institute of Social Defence and State/UT Governments has established a National helpline called ELDERLINE for the benefit of senior citizens .Â
Elder Line 14567 is a toll-free number operational from 8:00 AM to 8:00 PM, that provides free information, guidance, emotional support, field intervention in cases of abuse, rescues and reunion of homeless elderly driven by values of Consistency, Care, Empathy and Encouragement. Â
 The  purpose of the  initiative is to help the senior citizens by providing necessary information and direct help . Â
Currently, Elder Line has four sets of services:Â Â
1. Information
A. Health Related Â
B. Shelter / Old Age HomesÂ
C. Day Care Centres
D. Caregiver
E. Elder Friendly Products Etc. Â
2.  GuidanceÂ
​
A. Legal
B. Dispute Resolution
C. Pension Related
D. Government Schemes
E . Maintenance issues  Â
3.  HELP
A. Care and support for Abused
B. Rescue and Reunion of Homeless elderly
4. Emotional Support (for having just a chat)Â Â
A. Anxiety resolution
B . Relationship management & Family disputes
C. Loneliness
Senior citizens can call the TOLLFREE Number  14567  and seek  information on various  issues related to them and seek help in the case of necessity .Â
​For further details , you can visit their website ​
OROP SCHEME FOR EX-SERVICEMEN :Â Revision of Pension ApprovedÂ
Dated 24.12.2022 :  The Union Cabinet, headed by Prime Minister Shri Narendra Modi, has approved revision of pension of Armed Forces Pensioners/family pensioners under One Rank One Pension (OROP) w.e.f. July 01, 2019. Pension of the past pensioners would be re-fixed on the basis of average of minimum and maximum pension of Defence Forces retirees of calendar year 2018 in the same rank with the same length of service. Â
The Armed Forces Personnel retired up to June 30, 2019 {excluding pre-mature (PMR) retired w.e.f. July 01, 2014} will be covered under this revision. More than 25.13 lakh (including over 4.52 lakh new beneficiaries) Armed Forces Pensioners/family pensioners will be benefitted. Pension for those drawing above the average shall be protected. The benefit would also be extended to family pensioners, including war widows and disabled pensioners.
Arrears will be paid in four half-yearly instalments. However, all the family pensioners, including those in receipt of Special/Liberalised Family Pension and Gallantry Award Winners, shall be paid arrears in one instalment. Â
​To read the press release of government of India , CLICK HEREÂ
Dated 24.12.2022 :  The Union Cabinet, headed by Prime Minister Shri Narendra Modi, has approved revision of pension of Armed Forces Pensioners/family pensioners under One Rank One Pension (OROP) w.e.f. July 01, 2019. Pension of the past pensioners would be re-fixed on the basis of average of minimum and maximum pension of Defence Forces retirees of calendar year 2018 in the same rank with the same length of service. Â
The Armed Forces Personnel retired up to June 30, 2019 {excluding pre-mature (PMR) retired w.e.f. July 01, 2014} will be covered under this revision. More than 25.13 lakh (including over 4.52 lakh new beneficiaries) Armed Forces Pensioners/family pensioners will be benefitted. Pension for those drawing above the average shall be protected. The benefit would also be extended to family pensioners, including war widows and disabled pensioners.
Arrears will be paid in four half-yearly instalments. However, all the family pensioners, including those in receipt of Special/Liberalised Family Pension and Gallantry Award Winners, shall be paid arrears in one instalment. Â
​To read the press release of government of India , CLICK HEREÂ
 RESTARTING TRAIN CONCESSIONS FOR SENIORS NOT FEASIBLE : Railway MinisterÂ
Dated 22.07.2022 :  In a written reply given in parliament yesterday  , Railway Minister Mr Ashwini Vaishnaw thtat extending any concessions to any class of passengers including senior citizens was not desirable . Earlier railways were offering concessions  to senior citizens , both for male and female which was stopped two years back due to covid spread . The concessions were given up to 50% of the fare for the senior citizens  on showing of age proof . He quoted the financial burden railway suffers due to offer  of such concessions.Â
​Source : Media reportsÂ
Dated 22.07.2022 :  In a written reply given in parliament yesterday  , Railway Minister Mr Ashwini Vaishnaw thtat extending any concessions to any class of passengers including senior citizens was not desirable . Earlier railways were offering concessions  to senior citizens , both for male and female which was stopped two years back due to covid spread . The concessions were given up to 50% of the fare for the senior citizens  on showing of age proof . He quoted the financial burden railway suffers due to offer  of such concessions.Â
​Source : Media reportsÂ
RETIREMENT PLANNING GUIDE
Retirement Planning Guide to Seniors :Â
Dated 29.07.2022 : Retirement involves adjustment  to new or no working hours  , new  income and expenditure pattern  ,  new life style  and management of leisure time and health  one has to undergo after retirement .Â
We have received an article linking to guidance given by various people on the matter of retirement which we think useful to newly retired  persons . The articles discuss Retirement Life and Leisure ,  Finding Meaning and Purpose After Retirement , How to Plan Your Retirement Lifestyle , How to Estimate Your Retirement Expenses , Budgeting for the Four Financial Phases of Retirement and many such issues .    Though the articles written are mostly keeping in mind of US Senior citizens ,  the general principles can be applied by any one . Â
We give  herewith link to the article called " retirement-planning-guide-for-seniors"  published in https://www.madisontrust.com/ . Interested persons may read the article and linked articles . However we add here that we do not subscribe to any  guidelines or planning or suggestions or opinions  given in those articles and we have not independently verified the factual correctness  . One has to utilize his discretions while implementing any of the suggestions given in the articles .Â
Dated 29.07.2022 : Retirement involves adjustment  to new or no working hours  , new  income and expenditure pattern  ,  new life style  and management of leisure time and health  one has to undergo after retirement .Â
We have received an article linking to guidance given by various people on the matter of retirement which we think useful to newly retired  persons . The articles discuss Retirement Life and Leisure ,  Finding Meaning and Purpose After Retirement , How to Plan Your Retirement Lifestyle , How to Estimate Your Retirement Expenses , Budgeting for the Four Financial Phases of Retirement and many such issues .    Though the articles written are mostly keeping in mind of US Senior citizens ,  the general principles can be applied by any one . Â
We give  herewith link to the article called " retirement-planning-guide-for-seniors"  published in https://www.madisontrust.com/ . Interested persons may read the article and linked articles . However we add here that we do not subscribe to any  guidelines or planning or suggestions or opinions  given in those articles and we have not independently verified the factual correctness  . One has to utilize his discretions while implementing any of the suggestions given in the articles .Â
RETIREES GUIDE TO DOWNSIZING
 Retired Senior's Guide to Downsizing :Â
Dated 22.04.2022 :  When one retires from his / her job ,  income reduces . Some may get compensation by way of pension and some have to  live by the interest they earn out of retirement benefits . Anyhow , they have to manage  their lives with lower income they get past retirement . Inflation may cause their expenditure  to raise and lower interest rates will reduce their income . If one's family is also facing health issues also and huge  financial burdens thereon ,  one will be forced to look in to he ways of augmenting incomes and reducing their  expenditures  .Â
One of the solutions people  try in such conditions is to "downsize " their lifestyles  , sell / mortgage their house and move away from their present places to  suburbs or to rural areas to reduce their expenditures  . After retirement , it does not matter  if one lives in city central  or a suburb  as there is no need to commute for the work .  One can substantially clear their debts by selling   their  properties in " posh " areas  for a fortune and by acquiring a  place to buy and live in a  new developments where cost of living is less  .Â
The above problem is universal  and we have received an  article titled "  Retired Seniors Guide to Downsizing " written by Zach Wichter  on the above subject . The article explains   the pros and cons of selling a  property and buying a new one . It is written primarily  for the audience in USA , but core principles can be used in other places too .Â
We hope our readers will find the article useful .Â
  The article was referred to us by Ms  Mary Kate Mackin of Bankrate, Inc . USAÂ
Dated 22.04.2022 :  When one retires from his / her job ,  income reduces . Some may get compensation by way of pension and some have to  live by the interest they earn out of retirement benefits . Anyhow , they have to manage  their lives with lower income they get past retirement . Inflation may cause their expenditure  to raise and lower interest rates will reduce their income . If one's family is also facing health issues also and huge  financial burdens thereon ,  one will be forced to look in to he ways of augmenting incomes and reducing their  expenditures  .Â
One of the solutions people  try in such conditions is to "downsize " their lifestyles  , sell / mortgage their house and move away from their present places to  suburbs or to rural areas to reduce their expenditures  . After retirement , it does not matter  if one lives in city central  or a suburb  as there is no need to commute for the work .  One can substantially clear their debts by selling   their  properties in " posh " areas  for a fortune and by acquiring a  place to buy and live in a  new developments where cost of living is less  .Â
The above problem is universal  and we have received an  article titled "  Retired Seniors Guide to Downsizing " written by Zach Wichter  on the above subject . The article explains   the pros and cons of selling a  property and buying a new one . It is written primarily  for the audience in USA , but core principles can be used in other places too .Â
We hope our readers will find the article useful .Â
  The article was referred to us by Ms  Mary Kate Mackin of Bankrate, Inc . USAÂ
INMATE ABUSESÂ Â INÂ SENIOR CITIZEN HOUSESÂ :Â
Dated 27.02.2022 :  We have received a link to the article " Nursing Home Abuses " . The article , though intended for residents in USA  , details the various forms of abuses , a senior citizen faces in a senior citizens home ( called Nursing Homes in USA )  . The abuses can be mental , physical or financial . The article also  gives some suggestions in case when one is faced with such situation .Â
The use of senior citizen homes is increasing in India also  . There are many benefits   in such houses as  one will be surrounded  by other senior citizens . They may not feel lonely . Their basic needs will be taken care of . Daily chores will become easy with maid servants , community kitchen  , doctor on call . Medical help will be provided in case of emergencies  and  basic  attention would be given and  relatives would be informed . Of course , all come with a cost . The level of services may be varying from one senior home to the another .Â
But  there are chances  of abuse by the management staff  , when an inmate becomes too weak to take care of  himself . Hence one should be ware how to secure oneself there  . The above article may be eyeopener  for the  senior citizens  wanting to opt for such  facility and warn them about the  precautions they can take while using the facility .Â
The article is forwarded to us by Mr. Holly Brooks of Levin & Perconti , a law firm in Chicago , USA .Â
Dated 27.02.2022 :  We have received a link to the article " Nursing Home Abuses " . The article , though intended for residents in USA  , details the various forms of abuses , a senior citizen faces in a senior citizens home ( called Nursing Homes in USA )  . The abuses can be mental , physical or financial . The article also  gives some suggestions in case when one is faced with such situation .Â
The use of senior citizen homes is increasing in India also  . There are many benefits   in such houses as  one will be surrounded  by other senior citizens . They may not feel lonely . Their basic needs will be taken care of . Daily chores will become easy with maid servants , community kitchen  , doctor on call . Medical help will be provided in case of emergencies  and  basic  attention would be given and  relatives would be informed . Of course , all come with a cost . The level of services may be varying from one senior home to the another .Â
But  there are chances  of abuse by the management staff  , when an inmate becomes too weak to take care of  himself . Hence one should be ware how to secure oneself there  . The above article may be eyeopener  for the  senior citizens  wanting to opt for such  facility and warn them about the  precautions they can take while using the facility .Â
The article is forwarded to us by Mr. Holly Brooks of Levin & Perconti , a law firm in Chicago , USA .Â
ARTICLES FOR SENIOR CITIZENS IN U S A
EDITOR'S NOTE DATED 13.02.2022  : The article below is written with focus on  the needs of senior citizens in India  .  Majority of our readers are from India or Non-Resident Indians . However 10 %  the readership comes from United States of America  ( USA ) .Â
 Now we are glad to inform that we have received two more links to two articles  which have focus on senior Citizens of USA  , which will be helpful to the senior citizens there . The articles areÂ
1. How Many Seniors Have Student Loan Debt and Where Can They Find Help?
2.  Student Loan Refinance Calculator Â
The articles are prepared and published by Education Loan Finance  ( ELFI ) ,  an organization designed to assist borrowers with student loan refinancing as well as undergraduate, graduate, and parent private student loans . However we have not verified the accuracy or veracity of the facts in the articles . We hope the articles will be useful to US citizens who want to taken or already taken student loans in USA  .Â
 We thank Enmanuel Batista Shedrack , Outreach Coordinator , Education Loan Finance for forwarding the links . ​
EDITOR'S NOTE DATED 27.11.2020 : The article below is written with focus on  the needs of senior citizens in India  .  Majority of our readers are from India or Non-Resident Indians . However 10 %  the readership comes from United States of America  ( USA ) .Â
 Now we are glad to inform that we have received links to two articles  which have focus on senior Citizens of USA  , which will be helpful to the senior citizens there . The articles are available on the website https://www.retireguide.com/about/
1. MEDICARE HEALTH INSURANCE PROGRAMME : Medicare is the U.S federal government’s health insurance program that primarily covers people 65 and older and certain younger people with disabilities or kidney failure. Original Medicare does not cover all medical costs. Medicare Advantage plans stand in the place of Original Medicare or you may opt to stay with Original Medicare and purchase a Medicare supplement policy.  This free resource highlights coverage, costs, eligibility and enrollment information, along with answers to some frequently asked questions. Full details of the scheme can be read by clicking here    Â
2. BENEFITS AND DISCOUNTS AVAILABLE FOR SENIOR CITIZENS IN USA :  The article gives glimpse of various additional benefit available to senior citizens with regard to Income tax , insurance  & discount available in various outlets  . You can know the details by clicking here  Â
 We thank  Edgardo Valdespino ,  Outreach Coordinator of retireguide.com for sending the articles to us  . Â
 Now we are glad to inform that we have received two more links to two articles  which have focus on senior Citizens of USA  , which will be helpful to the senior citizens there . The articles areÂ
1. How Many Seniors Have Student Loan Debt and Where Can They Find Help?
2.  Student Loan Refinance Calculator Â
The articles are prepared and published by Education Loan Finance  ( ELFI ) ,  an organization designed to assist borrowers with student loan refinancing as well as undergraduate, graduate, and parent private student loans . However we have not verified the accuracy or veracity of the facts in the articles . We hope the articles will be useful to US citizens who want to taken or already taken student loans in USA  .Â
 We thank Enmanuel Batista Shedrack , Outreach Coordinator , Education Loan Finance for forwarding the links . ​
EDITOR'S NOTE DATED 27.11.2020 : The article below is written with focus on  the needs of senior citizens in India  .  Majority of our readers are from India or Non-Resident Indians . However 10 %  the readership comes from United States of America  ( USA ) .Â
 Now we are glad to inform that we have received links to two articles  which have focus on senior Citizens of USA  , which will be helpful to the senior citizens there . The articles are available on the website https://www.retireguide.com/about/
1. MEDICARE HEALTH INSURANCE PROGRAMME : Medicare is the U.S federal government’s health insurance program that primarily covers people 65 and older and certain younger people with disabilities or kidney failure. Original Medicare does not cover all medical costs. Medicare Advantage plans stand in the place of Original Medicare or you may opt to stay with Original Medicare and purchase a Medicare supplement policy.  This free resource highlights coverage, costs, eligibility and enrollment information, along with answers to some frequently asked questions. Full details of the scheme can be read by clicking here    Â
2. BENEFITS AND DISCOUNTS AVAILABLE FOR SENIOR CITIZENS IN USA :  The article gives glimpse of various additional benefit available to senior citizens with regard to Income tax , insurance  & discount available in various outlets  . You can know the details by clicking here  Â
 We thank  Edgardo Valdespino ,  Outreach Coordinator of retireguide.com for sending the articles to us  . Â
 A SPECIAL ARTICLE  SENIOR CITIZENS  RESIDING IN USA  :Â
 REVERSE MORTGAGE SCAMS  PLAYED ON SENIOR CITIZENS IN USAÂ
Dated 05.01.2022 :  We have received an article  which cautions senior citizens  on  the mis-selling / scams while promoting  the Reverse mortgage schemes  in USA .  Though the article is specially written keeping in view of American Audience ,  many tactics referred there are universally practiced in  various  countries . One has to be careful before signing any documents and understand its implications of signing on the blank forms .  Some  of the  tricks adopted areÂ
1. Exaggerating  the benefits of a scheme : In the article it points towards social security benefits .Â
2. Obtaining signatures on blank forms .Â
3. Hiding the drawbacks  and not highlighting the futility of the scheme to the victim .Â
You may  go through the linked  article  which you may find as useful .  We thank Ms Mary Kate Mackin of BANKRATE .COM  for forwarding their article .Â
 REVERSE MORTGAGE SCAMS  PLAYED ON SENIOR CITIZENS IN USAÂ
Dated 05.01.2022 :  We have received an article  which cautions senior citizens  on  the mis-selling / scams while promoting  the Reverse mortgage schemes  in USA .  Though the article is specially written keeping in view of American Audience ,  many tactics referred there are universally practiced in  various  countries . One has to be careful before signing any documents and understand its implications of signing on the blank forms .  Some  of the  tricks adopted areÂ
1. Exaggerating  the benefits of a scheme : In the article it points towards social security benefits .Â
2. Obtaining signatures on blank forms .Â
3. Hiding the drawbacks  and not highlighting the futility of the scheme to the victim .Â
You may  go through the linked  article  which you may find as useful .  We thank Ms Mary Kate Mackin of BANKRATE .COM  for forwarding their article .Â
INDEPENDENT LIVING AND ASSISTED LIVING FOR THE SENIOR CITIZENS
INDEPENDENT LIVINGÂ ANDÂ ASSISTED LIVINGÂ :Â
We have received an article helping Senior Citizens to know the difference  between Independent living and Assisted Living . The article  is written  keeping in mind US citizens . But such facilities are also available in some large cities in India .  Retirement homes  or Apartment blocks  meant for senior citizens help senior citizens with Independent Living  by giving medical assistance , food deliveries and  other facilities in case of need  at their doorstep . Assisted Living is more than retirement homes , called old age  homes where bathing , personal care , medication , catering are provided by the assistants provided by the old age homes  . Â
One may read the linked article to the modern day facilities which are coming up in western world followed by other countries .Â
The article is written by Mr True Tamplin for Financial strategists .Â
We have received an article helping Senior Citizens to know the difference  between Independent living and Assisted Living . The article  is written  keeping in mind US citizens . But such facilities are also available in some large cities in India .  Retirement homes  or Apartment blocks  meant for senior citizens help senior citizens with Independent Living  by giving medical assistance , food deliveries and  other facilities in case of need  at their doorstep . Assisted Living is more than retirement homes , called old age  homes where bathing , personal care , medication , catering are provided by the assistants provided by the old age homes  . Â
One may read the linked article to the modern day facilities which are coming up in western world followed by other countries .Â
The article is written by Mr True Tamplin for Financial strategists .Â
 DO YOU KNOW THE TAX BENEFITS FOR HEALTH INSURANCE UNDER SECTION 80D ?Â
Deduction allowed  on Health insurance Policies under 80 D is Rs. 50,000/- for senior citizens and up to Rs. 25,000/- for   others from the financial year 2018-19  . For senior citizens , if no insurance amount is paid , hospital expenditure up to Rs 50,000 is allowed . An assessee can claim additional Rs 50,000 for his / her parents  if they are senior citizens and  Rs 25,000 in other cases . Overall claim cannot exceed Rs 1,00,000 . All payments should have been made in any mode other than cash . Cost of preventive health check up up to Rs 5,000 can be claimed within the overall limit and it could have been made in cash also .Â
Deduction allowed  on Health insurance Policies under 80 D is Rs. 50,000/- for senior citizens and up to Rs. 25,000/- for   others from the financial year 2018-19  . For senior citizens , if no insurance amount is paid , hospital expenditure up to Rs 50,000 is allowed . An assessee can claim additional Rs 50,000 for his / her parents  if they are senior citizens and  Rs 25,000 in other cases . Overall claim cannot exceed Rs 1,00,000 . All payments should have been made in any mode other than cash . Cost of preventive health check up up to Rs 5,000 can be claimed within the overall limit and it could have been made in cash also .Â
 BLOG ARTICLE ON                    Â
                              HEALTH INSURANCE OPTIONS FOR RETIRED BANKERSÂ
​
The article explores the alternative avenues for existing health insurance group policy for Retired BankersÂ
TO READ THE ARTICLE                              CLICK HERE ​Â
                              HEALTH INSURANCE OPTIONS FOR RETIRED BANKERSÂ
​
The article explores the alternative avenues for existing health insurance group policy for Retired BankersÂ
TO READ THE ARTICLE                              CLICK HERE ​Â
           Â
​                      PLANNING FOR CONTINGENCIES    CLICK HERE TO READ Â
​WHAT 'S NEW ON PLAN N PROGRESS ?Â
​                      PLANNING FOR CONTINGENCIES    CLICK HERE TO READ Â
​WHAT 'S NEW ON PLAN N PROGRESS ?Â
 KNOW  ABOUT  TAX ON RETIREMENT BENEFITS  , CLICK HEREÂ
FOR INCOME TAX NEWS   , CLICK HERE    NEWS ON INTEREST RATES  CLICK HERE Â
​ARTICLE ON INVESTMENT OPTIONS  FOR RETIREES  ,   CLICK HERE    WHAT IS SYSTEMATIC INVESTMENT PLAN  ?   CLICK HERE Â
​                               Â
                                    NEW  ARTICLES ON  Â
                                   Â
 SMALL FINANCE BANKS                                     PAYMENT  BANKS   Â
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UNIFIED Â PAYMENT INTERFACEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â BHARAT BILL PAYMENT SYSTEMÂ Â Â
     BHIM APP                                                AADHAR  Â
                              e-INSURANCE  Account (  eIA  )
FOR INCOME TAX NEWS   , CLICK HERE    NEWS ON INTEREST RATES  CLICK HERE Â
​ARTICLE ON INVESTMENT OPTIONS  FOR RETIREES  ,   CLICK HERE    WHAT IS SYSTEMATIC INVESTMENT PLAN  ?   CLICK HERE Â
​                               Â
                                    NEW  ARTICLES ON  Â
                                   Â
 SMALL FINANCE BANKS                                     PAYMENT  BANKS   Â
                                    Â
UNIFIED Â PAYMENT INTERFACEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â BHARAT BILL PAYMENT SYSTEMÂ Â Â
     BHIM APP                                                AADHAR  Â
                              e-INSURANCE  Account (  eIA  )
  ARTICLES ON  Â
​INSURANCE           LIFE INSURANCE                   VEHICLE INSURANCE      HOUSEHOLD INSURANCE
                                   Â
 SMALL FINANCE BANKS      PAYMENT  BANKS      UNIFIED  PAYMENT INTERFACE             BHARAT BILL PAYMENT SYSTEM  Â
                         BHIM APP                                                AADHARÂ
​INSURANCE           LIFE INSURANCE                   VEHICLE INSURANCE      HOUSEHOLD INSURANCE
                                   Â
 SMALL FINANCE BANKS      PAYMENT  BANKS      UNIFIED  PAYMENT INTERFACE             BHARAT BILL PAYMENT SYSTEM  Â
                         BHIM APP                                                AADHARÂ