Category: Finance insurance
One of the most popular insurance policies in India is health insurance although a large sector of people still pay their hospital bills out of pocket. This is because of either negligence or ignorance. For us, it makes sense to weigh the pros and cons of health insurance and avail the same at the earliest!
Health insurance provides dual benefits to the insured. One, this provides a financial cover to the insured to meet his financial needs in case of any medical emergency. Second, it also provides him with an opportunity to avail some of the best medical services from the hospital centres of his choice. Both these features are extremely important and in the absence of any such health insurance cover, it would have been very difficult for the insured to take care of his medical needs. Thus, health insurance is not only important but unavoidable!
One such company that is gaining more and more importance recently is the Religare Health insurance company. This insurance company has come up with various innovative plans with extremely interesting features and benefits that are sufficient to meet the medical needs of an individual and his family members. Religare enjoys an extremely high success rate and all the people who have availed insurance services from Religare have been extremely satisfied with its services. It is a specialist insurance provider whose motive is to provide the best insurance services to its clients. Through its robust distribution model and excellent services, it has been able to bring a smile on the face of all its customers.
Key Features of Religare Health Cover
Sum Insured: The insurance policy cover provides multiple options of selecting the sum insured. The sum insured varies from as low as 2 lakh to as high as 6 crores. This has been designed keeping in mind the different needs and requirements of the individuals. While the cover of 2 lakh is basic and is suitable to family with low income, an amount of 6 crore is suitable for HNIs.
No-claim bonus: In case an insured does not make any claim in a policy period, he is eligible to take a no-claim bonus discount or offer in the next policy period.
Health Check-up: Religare health cover provides the insured the benefits of doing annual health check-up to a certain limit. These checks up are essential and one should get them done on a regular basis.
PAN India Network: Another important feature of the health policy is that individual can get the hospitalization done at any of the network hospital based on his needs and convenience.
Renewability: Life-long renewability option is available with health cover policy from Religare. In addition to this, there is no pre-policy check-up required under the care freedom plan.
Waiting period: Waiting period of 2 years is required in case of any pre-existing disease of the insured.
Coverage: Almost all the health insurance policies provided by Religare provide insurance cover for an individual as well as his family members.
Long-term policy: Instead of taking a single year policy and renewing it every year, an individual can go for a combined three year plan which will mean increased benefits at reduced price.
Customized Plans: If an insured is not satisfied with the default plans offered by Religare, he can still go for customized plans where he can try and tweak the plan based on his medical needs.
Benefits of Religare Health Insurance Cover
One stop shop: Religare health insurance policy is a policy for all. You do not have to worry about the financial status of your family when you approach Religare. They have a plan for all the strata of society and offer numerous benefits under one roof.
Personal Attention: An insured can count on them when he needs it the most. In case of any difficulties during purchasing the policy or filing a claim, Religare can provide the insured all the attention he needs.
Hassle free process: The entire process of querying about the policy, buying the policy and filing the claim has been made online. You can now purchase a health insurance with Religare in just a matter of few minutes.
So, when it comes to offering insurance cover, Religare is way ahead of its competitors in terms of convenience and affordability.
A Bassoon player will hold the instrument close to the heart. Whether you are a performer or, an amateur artist, you are sure to indulge your bassoon, and make it your asset in the truest way. Holding on to your asset requires investing in maintenance and insurance at the same time. Maintenance requires caring for your instrument, and keeping it free from all sorts of damages. There requires a lot of tuning efforts from your end to ensure your instrument is taken care of, and has been well-maintained.
Maintenance of bassoon requires a clear understanding of the instructions involved. You need to know the different instructions that are given when you are asked to clean the instrument or, even keep it in a healthy environment. It would do you good if you can actually go through these instructions in detail.
Belonging to the woodwinds family, the bassoon is indeed the most beautiful instrument that plays brilliant music into your head. You will feel great when the bassoon is being played. Keeping it clean requires a neat and soft cloth that can be used to rub the dusty ends, and actually maintain it in the condition required. You will need to keep it in the environment most suited to the instrument. Gather an understanding on what environment is best suited to the instrument, and accordingly maintain that by enclosing it inside a case. You can always tamper with the temperature inside the case to ensure your bassoon is safe and easy.
It is not enough to buy a bassoon, and maintain it at your end; you will need to go to the bassoon specialist to ensure they help you maintain the same, and give your bassoon the much needed boost in terms of tuning and toning.
When buying the bassoon insurance, you should remember the following points
- It is important to consider the natural and man-made disasters that can totally affect your instrument, and wage the instrument with the right insurance
- If you as a musician have to lose a payday owing to sickness or, some accident, get it compensated with the insurance. You will be able to get in money despite not being able to earn on some days
- The bassoon can easily get damaged or, broken; you might not want to face that, which is why you need an insurance that can easily tackle the wounds of broken pockets with compensation. You will be compensated for the repairs and damage as well
- As a musician or a music teacher, if you have people working for you, you will be able to compensate for their accidents, health issues as well as other issues with the insurance
- Instruments need to be maintained at regular intervals; the apt insurance will cater to those needs as well. The repair and maintenance costs are covered in the insurance
- A good insurance will also offer replacement and rental costs, thus saving your pockets from facing those as well
A good bassoon player will always invest in the right insurance to safeguard the instrument.
Director and officers liability insurance is a liability insurance that protects officers and directors for claims made against them for any wrongful acts committed solely because of their position as a director or officer of the company. The insurance protects the officer against any loss resulting from legal action taken against him or her for any fault committed while carrying his or her duties.
If you own a business, you should obtain this policy when your company incorporates and installs a board of organizational directors. Often, the board of plans will demand protection against lawsuits related to the way they carry out their job.
Directors and Officers Liability Insurance is important for the people who hold sacred positions in certain organizations. These insurance schemes assist them to recover any expenses incurred while defending themselves against any allegations filed for wrongful acts committed in their individual capacity. The post of directors and company officers in a company is vital and prone to many allegations.
It is important to note that directors and officers liability cover are not the same as error omissions and errors. They serve different but very crucial functions in the world of business. Errors and omissions liability policies protect against performance failure in the product or services provided by the organization. They also prevent the officers from being held personally liable for negligence.
The directors and officers insurance is utilized in employment practices lawsuits and complaints. These can include accusations of harassment and discrimination. When there are employees, employment practices lawsuits of all different types can be initiated. The leaders don’t want to be the target of lawsuits directed against the company. Sometimes suits are initiated by employees, but shareholders and other officers may also bring them.
Protection of the personal holdings of leaders is the primary reason for acquiring D&O insurance policies. Directors may serve with no reimbursement on the board of a non-profit corporation, so they don’t need the fear of personal fiduciary responsibility for the actions of the organization. Lawsuits often name the business and the board individually when seeking a judgment.
When an unfair employment practices action is brought against the corporation, it is commonly due to incidents or alleged incidents of sexual harassment. Sometimes charges of discriminatory actions are named. The insurance coverage protects the personal assets of the leaders of the company.
Providing directors and officers liability insurance is one way to make certain that you can obtain the most qualified people to serve on the board of your organization. You want real people, but they want good protection. No one intends to run the risk of financial ruin due to successful lawsuits against the business.
Finally, note that directors and officers liability cover are different from professional liability. Professional liability refers to cases where the company is wholly held responsible in the course of the business. The directors and officer liability insurance cover, however, operates when an officer or a director of the organization is personally subject of the legal action.
A music teacher is seldom appreciated for the contribution you offer to the music world. You give your best to the world of music, create new talent, and then raise them to grow big but, there are many times when you are met with newer risks, unknown to you. That’s when you need insurance that can help you bail out of such incidents.
Walking to the student’s home to teach them can raise many incidents, some of which need insurance to protect you. An accident or, theft of the instrument you are carrying can cause major expenses for you as a teacher. If you are an aspiring musician, trying to make money for your music by being a teacher, you might not want to spend money unnecessarily. With insurance, you are ready to face such situations, where you are required to get your instrument repaired or, replace it with a new instrument. You can even take care of the accident that has caused you to stop working for a day.
- If you are unable to work for a day, owing to health issues or some emergency, your lost pay day is easily compensated with the right insurance. You will not only be compensated for the emergency situation but also for the payment that you need to receive
- If your instrument is broken while you are on the way to the institute where you are supposed to teach, then you probably need a new instrument on rent, and get this one repaired or, you need to replace this instrument with a new one. Either ways, this can lead to increased expenses, or that may cause a dent into your pockets. The best way to handle is to have insurance that will take care of these expenses.
- Homeowner’s insurance does not cover all your needs as a music teacher, and you need some insurance that can take care of all the expenses that you might face owing to natural disasters or, other accidents that may affect you physically, mentally or, financially. Insurance can at least cater to your financial needs
- If you run an institute, and have people working for you, then their health and other concerns need to be addressed by you. You cannot pay everything from your own pockets, which is why you need insurance that can help you cover these expenses. Music teacher insurance covers the worker’s compensation needs as well
It is very important to choose the ideal provider for your needs before you actually buy the insurance. The concerns that you have should be addressed by the concerned provider. Check for referrals online, and seek a view into the reviews given to them online. It would be better if you can compare the different providers based on their experience, the solutions they offer, and finally how they deal with the clients. The premium you need to pay for a year is also another reason why you need a good insurance provider. Take time before choosing the appropriate music teacher insurance.
Financial savvy decisions help you to utilize your money effectively and get optimal returns on the same. The financial moves you make now will determine whether you’ll thrive financially or have a financially secure future during the course of this year. Firstly, you need to set your financial goal according to your needs and resources and then take the financial moves to achieve your goals. Below mentioned are the top 5 financially savvy decisions to be taken this financial New Year:
- Going cashless: In 2016 government pushed demonetization, which has created a new era for cashless transactions. If has become evident that it is important to know the usage of credit , debit cards , banking , and mobile banking .Online banking is not only convenient but also saves time and cost . You should also Link your Aadhar card with bank account and investments that will further helps to buy online insurance policy and even a NPS account .Also in future it will be easy for bank portability.
- Investing: Saving money and investing it strategically is essential for a secure future and to make your money grow. There are various channels where you can invest your money like Mutual Funds,equity, SIP , Gold ,bonds etc but You should invest according to your risk appetite and income. Although Market movements and timing plays an important factor while investing in market linked investments but it is advisable to keep investing regularly and follow your financial goals instead of deferring due to market movements. In present scenario investing in SIP can be considered a best bet. It helps to combat the market uncertainties by investing regularly and spreading the risk across time and allows the money cost averaging.
Investing in PPF and VPF: Traditionally, fixed depths were considered as safe investment options. But with demonetization the FD rates have dropped to 7 %. So it is better to opt for more lucrative options like investing in Public provident funds and Employee provident funds (EPF) which are more secure and unlike banks, government cannot cut the PPF rates beyond a point. If you are salaried, FEPF is statutory you don’t need to bother about it, it will fetch you good returns. You can also use voluntary Provident Fund (VPF) to build up the debt part of your portfolio.
Gold: It is advisable to invest not more than 10% of your investment portfolio in gold as financial experts expect that gold prices may drop further due to uncertainties in foreign markets.
3. Shifting your loan to MCLR: If you have taken a home loan, you might be paying a higher interest if you loan is linked with the prime lending rate or the base rate .While MCLR (marginal cost of lending rate) is lower than the lending rate.So if there lies a difference of 50-60 base points between your existing rate and new rate, then it is advisable to switch to MCLR by paying an extra conversion fee. This will help you to cut down on your EMI and in turn saving money.
4. Don’t let your cash be idle: Sometimes it happens that we let our cash be idle in the saving account and just that 4% interest. But that cash can be used for better returns. You can open a fixed deposit or a better option is to invest this money in short term debt funds which can deliver up to 7-8% returns annually also in short term debt funds you can get tax benefits and have the flexibility to withdraw or invest more as per your requirement.
5. Real Estate: Buying own house: Demonetization had hit the real estate sector badly .Property rates have dropped drastically. A lot of sellers want to sell of their property at very low rates .It is expected that property rates will future drop reducing the demand further reducing the rates.So if you are looking for buying a house or property, this is the best time. However, one should buy a property for personal use only as buying a property for investment purpose won’t be a good idea as the rates are still too high.
Lastly, apart from the above mentioned moves it is always better to consult a financial advisor. A financial planner will help you achieve your financial goals by strategically utilizing your money to get optimal returns. Also remember that Financial independence largely depends on how well you use your money, thus you need to create a contingency fund that you can use in case of emergency .It is good to be self-sufficient and have a corpus amount for uncertainties rather than depending on others.
People in business and even ordinary citizens should insure their goods against the delay, damage or loss in transit. Well, in this regard, let you know that Transport Insurance is something that provides all the necessary helps to the traders. Transportation insurance is nothing but a policy, which covers the insured good while in the transit. All the modes of transport needed to move the good from one place to other can be covered.
If you are a businessperson, then you should avail transport insurance because it will facilitate you in many ways. There are several people try to save their money by not covering their consignment, but there are some reasons why that is believed to be a bad idea. So, what are you waiting for? Go through the points mentioned below:
Minimize Exposer to the Financial Loss:
Well, if you are a businessman and has not paid for the properties at the time of the shipment, or if you are an importer and has paid part or all of the properties earlier receiving them, then you run the chance of suffering the financial loss if your properties are damaged or lost during transit.
Contractual Need of Transport Insurance:
The contract of you sale may compel you to give transport insurance to secure the interest of the buyer or the interest of the bank. It is mainly true when selling properties CIF or CIP. Disappointment to do so can’t subject you to the financial loss, but the non-compliance with the terms of the agreement with the purchaser can even lead to the legal problems and loss of sale at the same time
Have Control Over the Insuring Terms of Transport Insurance:
Depending on the seller’s or buyer’s insurance might be a feasible alternative, but you should be contented that the insurance has been bought, and the insuring terms, limits, and valuation offered by every single insurer on every shipment are sufficient to meet your requirements. If there is any entitlement dealing with the international insurance firm, possibly in another language, it could be frustrating and time-consuming. How to Choose the Best Transport Insurance Provider? Now you know the significance of Transport insurance. So, the next part is to get insurance from the best insurance provider company. Well, in recent times, you will find various insurance firms who offer you transport insurance. But selecting between them can be a daunting task. Here, you will get some relevant parameters that you will have to bear in mind while choosing the insurance company.
Transport Insurance Services:
This is the first and foremost thing that you should consider. The insurance company, as well as its representatives, should respond positively. They will have to handle all your claims quickly, efficiently, and fairly. If you find that they are not capable of providing top-notch service, then it will be best for you to leave the company. Only a reputed company can give you a real-time user experience that you always look for.
Well, not every single firm is licensed to handle these sorts of work. So, you will have to find a company that is licensed legally. Only then, you can trust them.But, if you aren’t able to look which company has the license then take help from the state insurance department. They will let you know all the information that will help you carrying out the further procedure.
Comfort: It is another important thing that you will have to consider. You should feel confident and comfortable with the insurance buying, whether you purchase it from the insurance company or a local agent. But make sure the company will be easier to reach if you have any need or queries.
When determining whether the insurance is essential for the shipment or not, it is critical to keep in mind the basic principles of the protection. Well, transport insurance mainly provides cover against the extensive damage that happens hardly ever.
If the price of your shipment go above the amount that the goods or carrier forwarder is accountable for, or if you are transporting to less-well organized or unfamiliar destination, then the low costs of the transportation insurance are possibly worth considering. You can now visit McKenzie Ross knowing the best opportunities.
With changing times, insurance companies have become more customer friendly by ensuring that insurance agents are available across the country and a 24/7 customer care available throughout the year. Also, internet has proved to be a game changer as you can get information about all policies offered by various insurance service providers.
Since insuring your health has become a simplistic task, sometimes, it can also lead to last minute surprises. However, there are a few checklists which if you are aware of will help you get an insurance policy which will suit you as well as your family’s needs.
- List of Network Hospitals
Network hospitals are the list of hospitals wherein the policy holder can claim cashless facility and get treated at the hospital without paying anything from his pocket. Network hospitals are most preferred for planned surgeries/treatment and medical emergencies. An insurance service provider having extensive list of network hospitals is an advantage to the policy holder as he can avail the best medical treatment possible in case of medical needs.
- Sum Insured of the Health Insurance Policy
Sum insured is the maximum amount of claim which can be made during a year by the insurance policy holder in case of hospitalization. Any claim above the sum insured amount will have to be borne by the policy holder. For instance, you have a sum insured for Rs.1 lac, you got hospitalized during the year and the treatment costed Rs.1.50 Lacs. In such case, the insurance service provider will entertain claims up to Rs. 1 lac and the balance Rs.50,000/- will be borne by you.
Sum insured plays a pivotal role not only in determining the premium paid by you but also, an adequate sum insured gives you a peace of mind in case of medical emergencies. While taking a policy, the inflating medical costs and the number of members to be insured should be taken into account for the purpose of arriving at sum insured.
- Room rent limits
Hospitals have different categories of room like Single room, double sharing etc. wherein the room rent per day varies. Generally, the capping on room rent is 1% of the sum insured. Suppose, your sum insured is Rs.4 lacs, then the limit of room rent will be Rs.4,000/-. This means that if the room rent is above than this, not only the room rent but all the expenses relating to hospitalization will be borne by the policy holder proportionately.
- Claim Process of the Insurance service provider
Claim process should be simple, convenient and hassle free. It should not be tedious or a process wherein too many approvals are required to get the amount reimbursed. Also, customer care assistance particularly for the claim process and intimation regarding the processing of claim via SMS or email ensures that the process is consumer friendly.
- Fine prints of the policy
Once the policy is issued and delivered to the policy holder, he should read the fine prints i.e. the terms and conditions of the policy to avoid last minute surprises.For example few ailments like ovarian disease, diabetes, ENT disorders, hypertension, osteoporosis, hernia etc. might have a waiting period clause in the policy document.
- Top ups provided by the insurance service provider
A top up is an additional cover apart from the existing sum insured.Keeping in mind the ever increasing treatment cost, various insurance companies have come up with top up plans which support your medical expenses in case your medical expenses cross the sum insured limit.
- No claim bonus
No claim bonus is a discount provided by the insurance company for not claiming or availing benefits under the medical insurance. This bonus is provided at the time of renewal of policy in form of discount in premium. Ideally, the health insurance policy should be renewed within 30 days of the due date to enjoy the benefits of no claim bonus.
- Health insurance policy available Online
Various websites provide information regarding the plans provided by the insurance service providers. These websites help you compare the plans and suggest you the one which best fits your pocket. They also, offer discounts and other add on benefits which can help you take a desired plan.
Being well informed about the benefits provided by health insurance companies will help you insure your health needs in the long term.
In all genuineness, we can’t maintain a vital separation from mishaps, yet, undeniably we can shield ourselves from the inconspicuous. Inadvertent Insurance Cover is the best way to deal with assurance a not too bad life if there ought to emerge an event of such affliction. Spontaneous Insurance Covers all things considered go under the arrangement of Personal Accident Insurance Policy. This kind of technique spreads you against spontaneous death, lasting Total Disablement and invariable fragmentary disablement. Presently let us find out about the Accident and Sickness Insurance Dubbo.
All things considered one needs to pay premium for a biggest of 5 years for inadvertent assurance cover. The aggregate secured depends on the individual to be protected and the procedure conditions. Most of the inadvertent strategies give an assurance cover for the downfall of the defended individual, never-ending total disablement, lasting incomplete disablement and carriage of the body. In the event that there ought to be an event of death of the ensured, the divinely selected individual is compensated with the entire ensured. In case of unchanging total disablement compensation is paid against the unending and total loss of the body part. On the off chance that there ought to be an event of constant incomplete disablement, pay is paid for the total or midway loss of transportability of body parts. Carriage of Dead Body incorporates reimbursement of costs achieved for transportation of the hurt individuals’ dead body to the general population’s living course of action. Presently let us observe on the delicate matters regarding the Accident and Sickness Insurance Dubbo.
The base age for unintentional insurance is 18 years and most outrageous is 70 years. One can take incidental security for their mate also:
- Since unintentional end assurance is a sensitive matter, there are some standard preclusions – a couple conditions which are not secured under inadvertent arrangements. These are: self damage, interest in unsafe amusement, inebriation, and dread based mistreatment, war, bolster in criminal act and AIDS/HIV+.
- A bit of the colossal and supposed associations too take incidental arrangements in lieu of their agents. Their terms and conditions, in any case, differentiate a little from the Personal Accidental Insurance Cover Policies.
- Individual accident insurance, as the name suggests, acts the saint when you meet with startling setbacks. This system covers any setback and is not limited to business related incidents. It covers diverse financial needs at this basic motivation behind time like predictable compensation, medicinal costs, hospitalization charges, subsidizing for tyke’s instruction, mean reimbursement of money to the family if there ought to emerge an event of death, and so forward.
Since, setbacks are sudden, individual disaster security is one of the must have insurance arrangements. This game plan, beside giving propitious cash related help, moreover deals with various budgetary needs till the period of recovery. The following are the diverse preferences that pass on us that putting assets into individual setback insurance course of action is valuable. The Accident and Sickness Insurance Dubbo based associations will offer you the best recommendations about the same.
Available for all occupations: Personal incidental security is open to every individual paying little mind to their occupation, age and sexual introduction, as a result of the obvious reason that setbacks can happen. It is exceptionally critical for individuals in some dangerous callings, for instance, improvement, plumbing, and so on where they are significantly inclined to setbacks. It is in like manner supportive for sole merchants, business associates and the association officials, as their associations’ commitment strategies don’t cover their own setbacks.
Top 5 reasons why travel policy is necessary are :
As a young person standing at the threshold of your career, you may not think too much about your retirement. You would obviously be more excited about the long career lying ahead of you. However, your retirement is a reality and even though right now it seems like a lifetime away, saving for it is mandatory. The earlier you begin, the better it is for you. So what are the best retirement strategies available to you? Should you invest in a pension plan or should you start a PPF account? Take a look at this article to see what your best options are.
Pension strategies for young people
As a youngster under 20, you may still be studying or may have just begun your professional journey. You may still have a few student loans that you are repaying. At such times, is it practical for you to put some money away in a pension plan for your retirement? The answer is a big, fat yes! The logic behind this is simple – the earlier you start, the larger your fund will grow. Let us take a look at some of the pension strategies for young people.
- Pension plans: The pension plans, also known as the retirement plans, are popular saving tools available from the leading insurance providers in India. The pension plans allow you to save small amounts of money for a long time. Your money is invested in safe market tools and it grows even further. And since a pension plan is an insurance product, it also comes with a death benefit component. So if anything happens to you within the policy period, your loved ones will get the sum assured. Upon maturation, the pension plan gives you a lump sum amount of money and the rest of the accumulated fund is given in parts to you and becomes a regular source of income for you.
- Deferred annuity plans: As a young professional, you can start investing in a deferred annuity plan which is a kind of pension plan. This allows you to be disciplined about your finances and keep a small amount of money away each month for your future.
- Investments: Apart from the pension plans, you can also invest some money in mutual funds, PPF accounts and also in post office savings schemes like the NCS. You will be able to save and build up a large corpus which you can use for your retirement as well as for your other life goals such as your wedding, your children’s college fees, etc. You can also use a part of your accumulated corpus later on to buy an immediate annuity plan. An immediate annuity plan is a type of pension plan where you pay a lump sum amount of money after you retire and set up a regular income source for yourself. It therefore is important to start saving early as you can then build up a fund which will aid you in every step of your life.
Things to consider when building up a retirement corpus :
Whether you choose to invest in a deferred annuity pension plan or you want to lock your money into a PPF account, there are a few things you must keep in mind. Firstly, you have to work on a tight budget. As a 20-year old, your salary won’t be too high. You therefore have to balance your finances in such a way that it is possible for you to put some money away each month. It may be difficult, but it is not impossible. Secondly, do not make the mistake of thinking that your retirement is way too far away. It never is too early to start saving for your future and you too must take stock as soon as possible. This will help you in finding the best pension plan as well as securing your own financial future.
To sum it up :
To sum it up, as a 20-year-old, you must start saving in a pension plan or in any other kind of investment to ensure your retirement phase is smooth. Saving money is a good habit and if you begin early, you will become a successful money manager your whole life and that will prove to be very beneficial for you. Good luck!