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How Can Life Insurance Protect Disabled Child?

Special needs children can present exceptional challenges for parents. One being, ensuring your child is financially secure and looked after you have left. As any parent knows it can be both rewarding and challenging to raise a family. Nevertheless, caring for a child with such needs requires a devotional degree and commitment that can be overwhelming at times. Parents may feel frustrated and alone as they seek information, understanding and the help they desperately need.Life insurance is one of the most stunning financial instruments available to you and your family. By far, life insurance is the best way to turn pennies into dollars when your loved ones are most in need of it. If you buy a term life policy or a full life policy, getting life insurance that is in place when you die is the secret to providing your family with financial security.How does a child with special needs use life insurance?Once that life insurance is acquired, the next step is to create a Special Needs Trust…

Life Insurance Plans for Every Working Woman

Women today are more socially motivated and work hand in hand with their husbands to meet their needs and give their children a better future. Over two-thirds of India’s women are family breadwinners or co-breadwinners. But they are able to let the men in the family take over when it comes to their financial planning. Unfortunately, as far as the house ladies are concerned, the attitude towards money is still pretty much the same as it was decades ago. Working women need to know that if they share all other family responsibilities, they also need to come up with some smart financial planning that can help them protect their lives against uncertainties that can affect their financial status.In all facets of life, women have broken barriers-whether it’s the glass ceiling in the corporate world or international records in various sectors. In terms of investment, however, women in India have been rather hesitant to deviate from conventional forms of investment such as gold and bank deposi…

Things That Can Affect Your Credit Score in India

Having a good credit score is key to quick and easy lending. The first thing a lender can test, when you apply for a loan, is your credit score. If you have a good credit score (this is considered a good CIBIL Transunion score of over 750) your loan application will go for further processing.  But if your loan score is downside down, your loan application will be rejected outright.Hence, having a good credit score is very necessary. Also, note that you can’t build a good credit score overnight as it’s based on your credit history measured.Here are some of the factors that affect our credit score.Irresponsible Payment Behaviour:Your payment history affects your ratings the most. Paying your credit-card bills and loaning EMIs on time every month is critical. 30-day delinquency can reduce your score by 100 points according to a CIBIL analysis (reported by the Financial Express). If you have multiple credit cards as well as loans, it is advisable to set up reminders and alerts, to avoid o…

Why should we invest in Debt Funds?

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For our body’s overall growth and health, we need to eat a balanced diet. To keep yourself healthy and fit, our body needs different nutrients and one type of food can not provide all the nutrients it needs. Therefore, to sustain our body we have to eat different kinds of food in the right proportion. Each nutrient has a unique role to play in our body’s wellbeing (e.g. carbohydrates give us instant energy while proteins help in tissue growth and repair).Similarly, to ensure our financial wellbeing we need a balanced investment portfolio in life. We need a mix of different kinds of assets within the portfolio that play different roles, like the different nutrients in our diet. For financial security and prosperity, one should invest in various types of assets such as equities, fixed income, gold, and real estate. Individual investors can find it hard to directly invest in certain asset classes such as fixed income, which includes bonds and money market instruments. Alternatively, they…

Why should I choose to select money back plan in 2020?

A cash-back policy is a system that returns money at regular intervals. During the duration of the contract, this cashback is paid and is a proportion of the Amount Assured. Pay-outs for money-back are considered survival benefits. Such incentives will be accrued during the lifetime of the contract and the remaining Amount Assured will be compensated along with accumulated bonuses upon maturity. If the insured dies during the lifetime of the contract, however, the full Amount Assured will be paid regardless of the recovery benefits already accrued. This is the unique feature of the program. Some of Money Back Policy’s key features are:The Survival Profit is calculated as a percentage of the guaranteed total.During the lifetime of the program, longevity benefits are paid at regular intervals.When the benefits are paid, there is a set period.Every program has a different structure of payouts. Likewise, there is also no fixed percentage of Amount Assured charged as Survival Benefits and …

Local Insurance Risks Explained by Jayant Harde

Identifying RisksIf and when a risk becomes a reality, a well-prepared business can minimize the effect on earnings, lost time and productivity, and negative customer impact. To start-ups and existing companies, a key component of strategic business planning is the ability to identify that threats pose a threat to effective operations. Business risks are identified using different methods, but each identification strategy is based on a comprehensive analysis of specific business activities that may present the company with challenges. Under most business models, organizations face preventable, strategic and external threats that can be managed by accepting, transferring, reducing or eliminating them.Local Insurance RisksFind the complete details of Local Insurance Risks explained by Jayant HardeIdentifying RisksPhysical RisksBusiness RisksBuilding RisksLocation Risks Physical RisksThe most common type of physical risk is the building of risks. The most common threat for a building is f…

Loan Amount VS Insured Amount: How Much Coverage Do You Need?

What Is Insurance Coverage?Insurance coverage is the amount of risk or liability that is protected by insurance companies for an individual or entity. Insurance coverage, such as auto insurance, life insurance, or more unusual types, such as hole-in – one insurance, is provided by an insurer in case of unforeseen events.Understanding Insurance CoverageInsurance coverage helps people recover economically from unexpected events like car accidents or the loss of a family-supporting income-producing individual. Multiple factors also dictate the scope of insurance.For example, most insurers charge higher rates for young male drivers, as insurers find young men to be more likely to be involved in an accident than, say, a middle-aged married man with years of driving experience.It can be difficult to distinguish between contracts and insurance policies, and it can be hard to assess the difference between loan amounts and insured amounts. Nevertheless, in receiving the correct defense, unders…