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How 7 things will change the way you approach Mutual Funds?

How do mutual funds work? The foundation of how mutual funds operate is the pooling of money from many different investors. The fund house raises capital from investors and makes investments in a range of financial products, including stocks, bonds, and so on. The securities are chosen in accordance with the fund's investing goal. For instance, if a fund's investment aim is capital growth, the fund will invest mostly in stocks. If, however, the goal is to make money, the fund will invest in bonds or money markets. Professional fund managers oversee the management of mutual fund schemes with the goal of ensuring the achievement of investment goals. How 7 things will change the way you approach Mutual Funds? Risk Diversification: Mutual funds provide risk diversification by purchasing a variety of equities and bonds from different industries and issuers. Risks related to a single stock or bond are lessened by a diversified portfolio. Professional management:

How to make more Financial Planning by doing less?

You get the chance to formally examine your goals, update them, and assess your progress from the previous year when you engage in annual financial planning. If you haven't already, take advantage of this opportunity to set goals in order to build or maintain a solid financial foundation. Here are some objectives you should establish, ranging from short-term to long-term, to learn how to live comfortably within your means, solve your financial problems, and start saving for retirement. Short-Term Financial Goals Financial short-term goals help you lay the groundwork and gain the confidence you'll need to achieve longer-term, more ambitious goals. In as little as a year, it should be possible to complete these initial steps: set a spending limit and adhere to it. Establish a reserve fund. Get rid of the credit card debt that's getting in the way. Create an Emergency Fund You set aside money in an emergency fund, particularly to cover unforeseen costs. $500 to $1,000

Master the arts of Health Insurance with theses 10 tips

  The following are a list of 10 tips that will help you to buy the right insurance plan.     Choose The Right Sum Insured     To provide you with the most assistance when you're in need, your insurance sum     should be 10 times your yearly salary.    Choose Lifetime Renewability  Choose a health insurance plan with a lifetime renewal feature so that you can continue to receive coverage for serious illnesses after retirement. Don’t Choose Claim Loading       Avoid purchasing insurance policies with claim loading features, which cause your premiums to keep rising even after you file a claim for a critical illness and render your policy unaffordable. Choose Restore Limit  Choose a health insurance plan that includes a restore limit provision and extends coverage to your sum insured. Your total critical illness coverage will be INR 10 Lakh at no additional cost, for instance, if your sum insured amount is INR 5 Lakh and you have a restore limit of INR 5 Lakh. Do

How a multi-year health insurance policy can reduce your premium outgo?

  Discounted rates, a set price for the duration of the policy, a lack of yearly renewal      procedures, and consequently ongoing protection are all advantages of paying multi-year premiums. There is a growing sense of health insurance awareness among millennials and Gen Z in the face of increased lifestyle diseases, unanticipated health risks, skyrocketing healthcare expenses, and financial instability. Many working professionals in these two groups are covered by group health insurance. However, these policies only provide coverage for the policyholder while they are actively employed and provide an average sum insured of Rs 2–5 lakh, which is quite a merger given the escalating cost of healthcare. In order to secure the best possible level of medical protection, getting a separate health insurance policy—whether it be a standalone or family floater—has become a justifiable need. It guarantees that one is consistently and effectively safeguarded. People typically choose annu

Does the LIC Jeevan Shiromani Policy provide for deferred survival and maturity benefits

On December 19th, 2017, LIC will introduce the LIC Jeevan Shiromani Plan 847, a new money-back plan. Let's look at the LIC Jeevan Shiromani Plan 847's benefits, evaluation, and returns. It is a money-back plan with a low premium payment that is non-linked and profitable. This approach, according to LIC, is specifically intended to target HNIs (High Net Worth Individuals). You are also covered for serious illnesses under this plan. Benefits of LIC Jeevan Shiromani Plan 847 Now let us see the benefits available under LIC Jeevan Shiromani Plan 847. This plan offers a guaranteed addition. For the first 5 years, the guaranteed addition will be Rs.50 per Rs.1,000 Sum Assured. From the 6th year onward to till POLICY PREMIUM PAYING TERM, this plan offers the guaranteed addition of Rs.55 per Rs.1,000 Sum Assured. 1. Death Benefits of LIC Jeevan Shiromani Plan 847 Under this plan, there are two requirements that must be met in order to pay the death benefits. a) Death d

How to invest in mutual funds online?

  There are different ways in which mutual fund investments can be made. They are: Offline investment directly with the fund house:- By going to the closest branch office of the fund house, you can invest in mutual fund schemes. Just make sure you have a copy of the following documents with you. The fund house will provide you with an application form, which you must complete and submit along with the required paperwork. Proof of Address Proof of Identity Cancelled Cheque Leaf Passport Size photograph Offline investment through a broker:- You will receive assistance from a mutual fund broker or distributor during the full investment process. He will give you all the information you require, such as the characteristics of various plans and the documentation required, to make your investment. He will also advise you on which projects to invest in. He will charge you a fee for this, which will be taken out of the overall investment amount. O