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How simple is it selecting the best funds from approximately 40 mutual funds and hundreds of schemes? It’s certainly not simple. Suppose we’re choosing a few. Is those funds going to be the best? Not Sure. So how do we select the best funds in this challenging and uncertain task? Therefore, don’t go to the Best. Select the right thing for you. Let’s see an instance for a better understanding of things. Consider that you went for Apparels shopping. You’re not just choosing what looks great. First, you’re looking for what kind of clothes you need. Whether formal or casual. You then choose your size. Then you see the one that looks best. The question then is whether or not the pricing is justified. Finally, you’re going for the one that’s right for you. This is how you’re shopping for the correct thing for you. The choice of the fund should be based on your goals, time horizon, risk appetite that informs you what asset allocation and categories to look for and then selec...

*1. LEAD CALLS* Don’t call someone more than twice continuously. If he does not respond, it simply means that he is doing something more important. *2. PUNCTUALITY* Let us understand that we are into Life Insurance business where competition is highest. PUNCTUALITY plays a very important role in image building which is essential ingredient of this business. If you have made a commitment to a prospect, honour it at any cost. For certain unavoidable reason if you are unable to honour the commitment, inform the prospect well in advance. Don't keep the prospect waiting. *3. MANNERISM* PERSONALITY SPEAKS ABOUT THE STYLES WE DISPLAY, BUT CHARACTER IS THE SUBSTANCE WITHIN. IN THE LONG RUN SUBSTANCE WILL ALWAYS OUTLAST STYLE. *4. CAUSING EMBARASSMENT* Don’t ask questions which will embarass the prospect. Avoid questions which are personal in nature like his marital status, owning a house etc. "why are you not married? Why don’t you have your own house? etc. For god’s s...

Growing monetary concerns among people in India, during the time when the country's economy is on the edge of recession, are not groundless, as many employers have imposed cuts in salaries and benefits. With the number of coronavirus cases increasing exponentially in India, frightening narratives of lack of bed availability, exorbitant charges levied by private hospitals to treat COVID-19 patients have emerged. The need for a health insurance policy to cover medical expenses is of primary importance during this time. According to the Asia Insurance Review, less than 4 per cent of COVID-19 patients in India have health insurance coverage, which is not surprising considering that total insurance coverage in India is very small. In April 2020, the Insurance Regulatory Authority of India (IRDAI) announced that all health insurance policies that cover the cost of hospitalization care provided by both general and health insurance firms should also cover the cost of hospitalization fo...

A participant non-connected program that provides an enticing mix of security with economies is LIC's latest Jeevan Anand scheme. This combination guarantees financial security against death for the lifetime of the policyholder by offering lumpsum payment in the case of his survival at the end of the chosen policy period. The program also meets the credit unit's liquidity needs. LIC's new Jeevan Anand scheme is a member that provides a captivating mix of security and economics. That option provides financial security against death by making a lump-sum payout at the end of the preferred policy duration, for the lifetime of the policyholder. The system also meets the liquidity criteria of the credit unit. Features of the New Jeevan Anand Policy If the policy holder survives the policy, when the plan ends he receives a maturity benefit and the life cover stays in force This policy offers double benefit, once at the maturity of the plan and again on the death In the unfortu...

In most urban middle-class households with children schooling has become a major cost head. Personal finance experts quickly point out that while schools are more costly than they were 20 years ago, daily salaries are enough to pay for schooling. The problem is to fund university research, usually postgraduate research or master’s. Although a large number of parents are conscious of the need to build a corpus for education, it is difficult for most parents to assess the cost of education for children. Two considerations make it difficult to quantify – firstly, it is a long-term goal and secondly, it does not know which path the child will select. “It is all about assumptions now. So you should be focussing on what you can afford now,” says Pankaj Mathpal , founder and CEO of Optima Money Managers. For example, if you think an engineering degree is a minimum you would be willing to pay for, start with it. If it costs Rs 10 lakh, then apply inflation to it. “Education costs in I...

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 Speci...

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...

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...

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 ...

“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...

Diversification of the portfolio is the key to a moderate equity investor and a moderate risk profile must be taken into account. It is possible to consider multi-cap and diversified equity funds for the same purpose. Everyone wants to create a corpus that can be used to fulfill dreams or to overcome economic emergencies. Keeping this in mind, everyone seeks at strategically investing in order to reap beautiful advantages for them. Some of you may have the idea that mutual fund investment is a dangerous affair. But that’s not completely true. Indeed, there are countless choices in mutual funds such as equity, debt fund, and balance fund, all depending on the investor’s requirements and risk appetite. All these systems of mutual funds give yields based on the related risk factor. The capital market is like a sweet store, complete of arrangements for mutual funds, with sweets according to the appetite of everybody. In this article, for a moderate equity investor, we will understand...

Insurance companies also extend health insurance to senior citizens. Although there are many such insurance plans, it is of paramount importance to examine finer information before taking up a plan. Insurance businesses consider Senior Citizen health insurance plans to be available for individuals between the age group of 60 – 80 years. If you are an existing insurance policyholder, you can renew your policy until 65 years of age.According to a recent updated guideline issued by IRDA, health insurance providers have to provide coverage to individuals up until the age of 65 years. Anyone looking to continue their health insurance policy with this updated guideline can do so until the age of 65. Also, with fewer constraints, those who try to change insurance providers for better service quality can do so. While there are several variables to consider before determining whether or not to buy a Senior Citizens' Health Insurance, this paper outlines some of the following significa...

LIC is introducing its new offline term life insurance LIC’s Jeevan Amar (No.855) from 5th August, 2019. It is claimed that it will be one of LIC's best-cost term life insurance plan. Let's see the benefits and how they're beneficial to us all. Jeevan Amar (No.855) of LIC is a non-linked, non-participating insurance plan for the term of life. LIC is launching a term life insurance after a long gap. It is primarily due to the competition in this product field. There are two premium categories under this scheme: 1) Non-Smoker and 2) Smoker Tariffs. You can choose anyone option. However, if you have selected the category of Non-Smoker, you must undergo the extra medical examination such as the Urinary Cotinine Test. The premium will apply to Non-Smoker proposer based on the Cotinine Test results. Features of LIC’s Jeevan Amar (No.855) It is an OFFLINE Term Life Insurance from LIC. Minimum Sum Assured is Rs.25 lakh and there is no limit for maximum sum assured. ...

You have been driving your present vehicle for quite a few years and around the corner there is a fresh model Or you want to upgrade to a Sedan or SUV from a Hatchback. These are some prevalent thinking procedures that are regularly faced by many vehicle owners. They would like to maintain it with them for those who have an extra parking lot and someone else to use the current vehicle. Others, the only choice is to sell the old car well.There is plenty of scope for second-hand vehicles in a fast-developing nation like ours. If you’re willing to sell your existing car, finding a buyer for the same wouldn’t be too hard. There are numerous vehicle selling services on the market, which makes buying the vehicle simpler for you. However, while selling a current vehicle, there are a few things you need to maintain in mind.Things like transferring the records to the new proprietor or the dealer, the vehicle’s registration certificate, etc. However, your insurance is the most significant ...