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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 ...

The dream of every parent is to make sure that their child gets the best of all. As parents, you’re concerned about your child’s little need, but schooling and marriage are the biggest concerns that you don’t want to compromise on anything. Only by taking a small step towards the future can you be concerned about these issues. Mutual Funds are an excellent way to invest in the future of a child. Before becoming an adult, many parents want to create a corpus for their child so it can be useful for higher education. We also funnel cash from piggy banks, small amounts earned as presents on occasions such as their birthday, win a race, do well in a sport, and so on to mutual funds. There are some mutual fund schemes on the market that provide returns that would provide your children with financial advantages for needs such as meeting wedding expenses, potential educational needs, etc. Its long-term capital appreciation would fall under the Hybrid or Balanced Mutual Funds category. Such ...

The passion of Indian people for gold has been known for centuries. Not only does this special yellow metal have a high perceived value, but it also has a strong emotional connection.Gold in form of jewels, gold coins or bars frequently come at a huge price due to its manufacturing costs. For many days, it is also the most common investment products.Trading gold in physical form supports Gold ETFs as security, which means you buy gold at the back-end when you buy a Gold ETF. This gives investors a guarantee of gold purity. As the gold price increases, so does the cost of Gold ETFs, and vice versa. As a consequence, it does not compromise on purity and is therefore available across the country at a standard price. Because ETFs are related to direct gold prices, the transparency of trade is growing. It is an investment at low risk. Benefits of Investing in Gold ETFs  Easy Trading – To begin with, you just need to buy at least 1 unit of gold, equal to 1 gram of gold, for go...

“Compound interest is the 8 th wonder of the world. He who understands it earns it and he who doesn’t pays it.” – Albert Einstein   Power of Compounding Albert Einstein rightly said that the world's 8th wonder is compound interest. Compounding is a very strong concept. This is because you still earn interest on the interest of your invested money. The investment value continues to grow at a geometric (always increasing) level than at an arithmetic (straight-line) rate. Over a period of time, the capital continues to accumulate. Compounding is also a phenomenon of a long-term existence. And in the long run, I mean 15-30 years. Investing early is as important as investing wisely. Just a small amount can quickly increase your earnings. Let's see how you can earn Rs 10 Cr from an Rs 15 K investment. 15*15*15 Rule Rs 15,000 SIP will give you the return of Rs 1 Crore at maturity at an estimated 15 percent CAGR for 15 years. You can get Rs 1 Crore with just an investment of Rs 27 l...

Risk and return are two sides of a coin   There are two sides of the same coin, Risk and return. High risk comes with high return and vice versa. The necessary risk to earn the excess return must be taken. A person investing in an FD as he feels is secure but worried about inflation eating up his returns or a person investing in mutual equity fund gives knee jerk reaction to any market change that doesn't invest according to their risk appetite. The first person is clearly willing to take more risk, and the second person is not. Once they start investing, knowing their own risk profile is very important. In addition, what one person may suit may not suit the other. Each individual has a different risk capacity. Just because an individual invests in a low-risk product does not mean that the others also have to invest in it. The mentality of the herd does not work to invest. What is risk? Risk refers to the extent of an investment's uncertainty or potential loss. As the ris...

Stock Mutual Funds Stock mutual funds are like a middleman between you and stocks(also known as equity mutual funds): they pool shareholder money and invest it in a number of different companies. You can buy several stocks in a single transaction through a mutual fund instead of picking and choosing individual stocks yourself to build a portfolio. It makes mutual funds perfect for investors who don't want to spend much time studying and handling an individual stock portfolio — a mutual fund works for you. A simple portfolio of investments may include as few as two mutual funds. ➢ Need guidance? But the key to the argument of the mutual fund is that there are several types of mutual funds: active fund managed by a professional manager; index funds tracking a benchmark index such as the Standard and Poor's 500; and ETFs, which are a category of index funds — they typically track an index, but are traded as stocks throughout the day. ➢ How do fees impact returns? Were bi...

What is health insurance and why you need it? With drastic lifestyle changes and rising rate of pollution, falling sick has become a daily thing. Under these circumstances, nothing can beat being prepared for healthcare requirements. A health insurance plan acts as a protector to ensure that in times of your most urgent need you and your family receive adequate health benefits. What is a family floater plan? Increasing healthcare costs have been noticed, more and more people are choosing health insurance plans. The individual and medical insurance may be suitable for individuals.Nonetheless, family health coverage or family floater policy is a far better option for people with families. The most significant advantage of this health insurance policy is that the whole or partial restriction of the family plan can be used by each family member or single individual in the family. In a family floater policy, insurance coverage of 5 lakhs has the advantage of providing treatment to one fam...

We do not sometimes realize that we are our greatest enemy. Purchasing impulse is enjoyable, but just for the moment. It gives us great pleasure to do things in the spur of the moment, but it can cost us a lot. Saving is not a big thing, but it is to protect those savings. Here are some ways of protecting your savings. Have a separate bank account for savings Invest the money Lifestyle changes Have an impulsive shopping fund Have a separate bank account for savings Having separate bank accounts for spending and savings is a nice practice. A portion of the income can be transferred to the savings bank account at the beginning of each month. Keep the debit card securely in a locker for that account and do not frequently bring it around. People are not going to use the cash in that account by doing this. In this account have the emergency fund and use it only for emergencies. Invest the money Ther...

Life insurance companies have meticulous procedures in place to guarantee timely and smooth payment of the multiple advantages. However, did you think what happens when the policyholder does not claim an advantage when it is due? Or a situation in which the insurance company is not in a position to pay the advantages as the policyholder is reachable / untraceable, or rather a case in which the insurance company has not been notified of the life insured’s death. These may look like isolated incidents; however, you would be surprised to know that Rs 15,166.47 crore was unclaimed with 23 life insurers as of March 31, 2018, according to official data. Of this, Rs 10,509 crore was with India’s Life Insurance Corporation (LIC), and Rs 4,657.45 crore was with private insurance firms. Compared to this, the unclaimed quantity for the whole sector was Rs 4,865.81 crore for the year 2012-13. This is an annual 25 percent rise in unclaimed money from policyholders over the previous five years...

Every new vehicle you buy in India comes with the dealer’s offered insurance. While very few individuals have chosen to purchase the policy individually, most of us are getting the same from the vehicle dealer. This ensures that as soon as your drive or ride your vehicle out of the showroom, your vehicle has a valid insurance. But on the other hand, the duration of these policies is limited. You generally get a motor insurance from your dealer for only one year. You have to renew it on time to continue to benefit from motor insurance characteristics and advantages. For two main reasons, it is very essential to renew the policy on time. When all cars are on Indian roads, the Motor Vehicle Act of 1988 requires them to have a valid insurance. Second, you will miss out on a few advantages and characteristics if you do not renew your policy on time. Firstly, you will end up paying for any damages or reparations if your car is accidental during the period if you do not renew this po...

Time to know this, with 32 lakh debit cards in India being compromised! There are many websites that use HTTP. Back in 2014, Google recommended switching sites to HTTPS. Until then, using HTTPS was really bothered only by sites with e-commerce pages. Google announced that it would provide HTTPS sites with a minor ranking bump as an incentive to switch over, effectively punishing sites that did not switch over by giving an advantage to rivals that did. Now you’re probably wondering – why is it so important that you switch over to HTTPS? Is it really worth the hassle to do so? What is the difference between HTTP and HTTPS? Will using one over the other affect your SEO efforts at all? The following guide will break everything down for you, not only answer these common questions but giving you a much better understanding of HTTP vs HTTPS in general. What Is HTTP? HTTP stands for Hypertext Transfer Protocol.  It allows communication between different systems in ...

Retirement is inevitable and for everyone it is an important reality. Even after you retire, you will continue to live a regular life. Therefore, the expenses do not escape your post-retirement life. After that, they will occur. Because of this truth, to meet the daily expenses you need a retirement plan. Early retirement planning gives you the chance to spend a better lifestyle on the golden years of post-retirement life. Early planning keeps you financially independent from the daily costs and medical expenses that may occur as you grow older. Careful retirement planning can assist you reassure yourself. PolicyX is an internet portal that helps you transform your life savings into a periodic source of revenue for a lifetime by making the best comparisons between annuity plans. If you are looking for the right pension plan after you have stopped working, you are in the right place. We have produced the list of Ten Best Pension Plans in India that are best suited for people lo...

LIC’s Jeevan Tarun is one scheme that can provide you with a restricted pay choice to secure the future of your child. It is an optimal investment plan to secure the future of your child against life’s hardships LIC Jeevan Tarun provides a few money back and maturity advantages decisions. Whether it’s education, marriage or some other reason to exist, Jeevan Tarun from LIC ensures your next generation doesn’t have to face any economic issues. The scheme provides wide integration of hazard, with a partial-pay option, where the range of premium payment term is shorter than the maturity period of the policy. Some of LIC Jeevan Tarun‘s Best Features are : Limited premium payment It states that it will be necessary to pay the premium quantities until the child reaches the age of 20 years ; the policy will be regarded to have evolved once your baby reaches the age of 25 years. This is an ideal option for individuals who are concerned about their term investment plans and ...