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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 char...

Identifying Risks If 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 Risks Find the complete details of Local Insurance Risks explained by Jayant Harde Identifying Risks Physical Risks Business Risks Building Risks Location Risks Physic...

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 Coverage Insurance 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 c...

There have been few developments in the last two years that have given direction to  the mutual fund schemes. It could be the re-categorization of mutual fund schemes by SEBI, the downward trend in midcap funds and small cap funds, to name a few. Mutual funds via SIP, following several such shifts, have always compensated investors in the medium to long term. There are several benefits of investing in mutual fund schemes by SIP. Mid Cap Mutual Funds A mid-cap fund is a pooled investment vehicle (e.g. a mutual fund or ETF) that primarily invests in mid-cap companies ‘ stocks, or firms with market capitalizations ranging from around $2 billion to $10 billion. As the name implies, a mid-cap company falls in the middle of large-cap (or large-cap) and small-cap companies. Classifications such as large-cap, mid-cap and small-cap companies are only approximations and may change over time. Mid-cap funds provide investors with a diverse portfolio of mid-cap firms. Mid-cap stock fu...

Savings for retirement are important, but they are often ignored. There is plenty of time in it where some people ignore it by thought. At the same time, some people are satisfied that some of their salary goes to the Employees Provident Fund (EPF), but reliance on EPF contributions isn’t just right for retirement. There are three major columns of financial planning for retirement in any country. Here are these: First column: Public pension Second column: Professional retirement Third column: Private or personal allowance Those who are retirement funding need to understand these three. It should also know how this will affect their savings in retirement. First column – Public pension The first column meets the social insurance needs. It’s called a public pension, therefore. It’s used primarily to help the poor and the old. Such pension schemes are entirely run by the government. This is an example of the Old Age Pension Scheme for Indira Gandhi...

You have to pay premiums when you buy a life insurance policy for yourself in order to keep it in force. Knowing the reasons that may affect your premium costs is important for you to pay the insurance company higher premiums. Life Insurance is a great way to help and protect your loved ones, which can also be a huge investment. A lower premium paid over a period of a few years can yield a good amount of savings.Life insurance premiums are based on a number of factors, and some people may find it quite tedious to understand why and what the charges are, and why they are paying a rate that may not be the same as others.Many factors are considered by insurance companies while pricing their plans, which may not be a variable under your power. Yet your life choices can also contribute to factors that can affect your premium for life insurance. The factors that affect your premium towards Life Insurance are: AGE This is an obvious and not surprising factor that affects the policyholde...

Aditya Birla Health Insurance (ABHI) is one of the newly launched health; insurance companies on the market. Through its financial services wing, Aditya Birla provides insurance services in various domains. However, Aditya Birla provides health insurance as a stand-alone service. Aditya Birla Health Insurance characteristics & benefits Aditya Birla Health Insurance also operates on the Indian market, offering multiple services to individuals, households, and groups at present. Some of ABHI’s key characteristics and advantages can be described as follows. Flexible plan options: Aditya Birla offers a range of plans based on customer requirements. Plans for individuals, families and groups are available. Specific benefits plans are available, including personal accident, critical disease, cancer, etc. Besides this, there are policies that provide community benefits. Multiple sum insured options: Depending on their requirement and affordability, consumers may pick ...