Is investing in insurance plans really helpful?

Congrats 

If you thought about this questions, most of the time people dont stop & think about it.

There is a generic perception among people to consider insurance as an investment vehicle. People expect something in return for the premium that is paid to the insurance company. Be it life, health or accident insurance, we always tend to equate and measure this with other investment products.If you are rich - let’s say if you die tomorrow and your family doesn’t need to worry about money - don’t bothering thinking about insurance. 

Primarily insurance is not for you, it’s for your FAMILY, so its basically to take care of them in case you are not there to support them monetarily - income replacement. So let us if you are sole earning member of family and if you die, how do family sustain, hence insurance. So insurance is not investment, get that right now and for rest of your life, it can never be. 

Insurance that come with investment plans give return in range of 2%-6% - that’s pathetic saving bank return, FDs give you more but it doesn’t beat inflation all the time. 

Once a Person took advice from Moneymindz on insurance_policy where he had paid Rs 15000 for last 7 years (and continue for another 22yrs). if he dies any time (between 0–30yrs) his family would get Rs10,00,000/- . Now his monthly expenses are anywhere in region of 22,000/- meaning, if he dies tomorrow his saving would help his family survive easily for another 50months/4yrs, but what after that? Nothing..? Remember his monthly expense of Rs 22, 000 we have kept constant not changed, not taken into account inflation (regular increase in price). Add to that he has 2 kid of which 1 will go to school 2 years hence, so his expense would only increase from here on. Think about college expenses, you can’t do anything. Hence instead go for term policy of Rs1cr @ premium of 10,000. At least now he doesn’t need to worry too much. 

If anybody sells your insurance because of superb returns, we suggest you immediately make 180 degree turns and run at fastest pace. It’s never possible to have good return in traditional insurance plan. Also if people try to sell you for tax purpose, term policy also provide tax benefit. 

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Health insurance options for college students

Each year, college students face a critical test that they probably do not hear about in any classroom: 

Having the right health insurance to cover the costs of ailments and emergencies that may arise while they are in school. Poor health may be the last thing on the minds of young, vibrant college students. 

However, it pays to think about illness before it happens. Thanks to health care reform, students under the age of 26 can remain on their parents' health insurance. College life can add a few wrinkles to this Obamacare provision, however. 

For example,

If a student is going to school in a different state, it is important to contact the insurance company to make sure there will be in-network providers near campus. Large insurers often do have affiliated networks in other states, but parents need to check with their particular plan. 

Get the best advice on health Insurance and protect your child.Just leave a missed call on Moneymindz.com @ 022-62116588 or download our app Financial Freedom . Moneymindz offers Free, Unbiased and on-call Free Financial Advisory, Financial Investment Services, #Financial_Planning, Certified Financial Planner Assistance, Retirement Planning Advisory, Free Financial Advisors, Online Personal Finance, On-call Investment Management, Best Financial Planner, CFP India, Personal Financial Planning.

Students might also want to schedule routine preventive care visits while they are at home on vacation in order to have access to the network of their parents' plan. 

In addition, parents and students should find out how the insurer will reimburse emergency care claims in the college town. The possible absence of in-network coverage can create extra expenses for students and force them into making difficult choices. 

If something comes up and they have to leave to get care for a longer-term illness, that will essentially take them out of school. Many colleges offer their own health plans to students. 

A college may work with an insurance company, which pays any claims. Alternatively, plans may be self-insured by the school, which makes the pay-outs directly. College health plans have a major advantage over other health insurance options because the premium costs are grouped with other higher education expenses, such as tuition and room and board. 

So, your student loans can assist with that. These plans often appeal to older students no longer eligible to remain on their parents' health insurance. These plans will also cover services that are often needed by young women for their reproductive health. However, school plans may not always be the best option for students.

For more information and queries, contact Moneymindz, the best free online financial advice.

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Do not step forward without proper advice: A couple’s horrifying tale

Nothing looks sweeter but a couple, who got into each other since college days and ended up getting married. Travelling under the night sky, stars blinking billions of light years away, and head rested on his shoulder, silent look into each other’s eyes with no one to bat eyes on them. Automatically a rendition of soulful piano and violin starts playing inside – a story about two young adults as they grew up together making memories. Ranjan, a banker married Tia, a digital marketing executive and are happy when a blessing news wrapped the couple in felicity. Tia was pregnant and she had plans for their future. Let us get into the accounts of one of her horrifying tales.

“I knew that having our first child meant that getting life insurance should be a top priority for both me and my husband. We researched policies, got a quote for an affordable term life insurance policy and had our medical exams. Imagine my surprise when, a few weeks later, the agent called me back and told me my new adjusted rate.

The cost of my policy had gone from a reasonable monthly fee they had quoted me—to nearly four times that amount. The reason, he said, was that my cholesterol levels were high. I called my doctor in a panic. Cholesterol levels always spike during pregnancy, she reassured me, and they probably will not be back to normal until a few months after you give birth.

After doing some research, I found that it is nearly always better to get a life insurance policy before you get pregnant to avoid potential price hikes brought on by temporary conditions during pregnancy. While some companies account for the fact that I gained weight due to the pregnancy, factors like higher blood pressure or postpartum depression can also affect your ability to get the best rates.

Now my daughter is three months old, and I am still waiting for my numbers to dip before starting again. I really wish I had known to start this process when trying to conceive instead.”

A blunder can harm people so much, maybe a lifetime. Therefore, it is better to take an advice before vouching for personal choices. Contact, Moneymindz, the best free financial advisory services. An advice should pass rather than keeping to oneself.

For More Information 

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Simple examples of investments with refer to some Big shots’ life mantra

Tennis is the toughest sport and completely depends on hard work. There is no way around the hard work so aspirers have to embrace it. The mantra is we have to put in the hours because there is always something we can improve. We have to put in a lot of sacrifice and effort for sometimes little reward but we have to know that, if we put in the right effort, the reward will come. Same thing works for an individual, who, does not necessarily have to work hard but need to discuss about what kind of investment they have keen. Looking for something befitting and rewarding, one must strive to achieve it.

“Laziness is not merely a physical phenomenon; it is about being a couch potato, stuffing your mouth with fries and watching television all day. It is a mental thing, too, and that is where I have never aspired. In the world of creativity, laziness translates into an inability to be rigorous enough to create fearlessly. It makes us plagiarise or water our creativity down to make it more acceptable to the public “a renowned Indian film star quoted. He is now the richest Indian superstar and joined the ranks of others in world’s top 20.

Therefore, the reason to quote this is to rectify people with laziness who thinks of investments only in top companies without having practically any knowledge. People are too lazy to learn and gain financial literacy rather they depend upon top-notch agents from big companies.

Compared to other talented players in his generation, his early life was a struggle through state and junior cricket teams when he finally accepted in the national team. Later as a Captain of the Indian National Team, he would profoundly be honoured for his successes and alternatively vilified for his failures. The secret of his ability to keep moving on through the ranks to ultimate success without falling prey to over confidence and criticism lay in his ability to step back and analyse what went right and what went wrong each time.

The only difference between this quote and me saying is Moneymindz will struggle to get you the perfect investment. Never fell prey to overconfidence and depend on some multinational or renowned company for investment. Play safe and swiftly.

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Get Finance To Fuel Your Business - Business Loan

Money is the fundamental part of business life. Some people in India love to work in companies and earn money. However, some of them believe in establishing own business and earn profits. Loan taken in order to set up/enhance/improve the business of the company is known as the commercial loans. It is also known as the business loans. 

Type of People Availing Commercial/Business Loans:

Many small and big business houses are being set up in India. Setting up of small/big business houses is not an easy task. It requires lot of financial assistance and lot of challenges comes along with it. Getting funds is the major task for the establishment of the company. It is taken up by set of people given below as follows like:

• Small time entrepreneur

• Service Provider

• Manufacturer

• Big time entrepreneurs

• Self Employed Professional

• Small time businessmen

• Big time businessmen

Eligibility Criterion For Taking Business/Commercial Loans In India

• Banks and financial institutions in India are offering commercial/business loans. Some of the eligibility criterions available for taking up the business/commercial loans in India are given below as follows:

• You must be in the line of business for at-least 2/3 years with valid certificates.

• Ownership document of property used for business purposes.

• Residence Proof document.

• Passport Size Photos

• Identify Proof like Pan Card, Passport, Aadhar Card and Driving Licence.

How Can One Apply For Business/Commercial Loans?

It is very simple. One needs to follow certain steps like:

• You must have good repayment capacity.

•  Vital documents must be available as per requirements.

• You must have database showing company’s performance.

• Statement of Profit/Loss is mandatory showing the loss and profit of the company.

• Income and expenditure statement showing the expense and income of the company.

• Robust business plan must be in place like equipment, employees, assets, marketing strategy as well.

• Good credit score must be present.

• If you start a new company, concentrate on vision, mission, core ideas and presentations.

• Proper collateral must be there to avail business/commercial loans. 

So, please have all the above mentioned documents in place to get a good commercial/business loans in India.

For more information on business loans take unbiased advice from moneymindz,India’s best financial advisor

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How to Invest safely on Stock Market?

                    

Stock markets are a complex system comprising of indices, primary and secondary markets, IPO, etc. which is a long trench consisting of vast information, a single person might find difficult to understand. Investing in the stock market is a way to make more than just a little extra cash. In fact, with the right approach and the right skills, investing even a little in the stock market can put you on the road to earning millions. Becoming a stock market millionaire is not an easy task and it will not happen overnight. If you want to become a stock market millionaire then here are the most proven tips to reaching your goals and the earnings you have always wanted.

1) Focus on Hot Stocks Hitting New Highs - 

Do your research, look into their patterns and place your focus on stocks that are already growing. As you get started with your stock market dreams, make sure to focus on hot stocks wing as you plan to stick with them until they reach new heights. Do not look to stocks hitting new lows.

2) You Can Buy and Short Sell -

There are some people who think they need a bull market to get rich. This is not the case. Do not ignore short selling. You do not have to hold on to a stock for a long time to earn a profit. Just look at the success some day traders have; they are the epitome of earning off short selling.

3) Chop Your Losses Quickly - 

If you want to be successful in the market, take your ego completely out of the situation. If you face a setback, cut your losses and move on fast. Do not dwell on your failure, but instead look to the future. You are going to fail, so be prepared and just be ready to move on.

4) Do not Be Afraid to take profits either half or completely - 

The thing about your earnings is that - they are not really profits until you take them. Do not be afraid to take partial profits or take profits too quickly. The market changes fast; it is OK to get out when you feel it is right and take the profits that you can.

For more information and interest on stock market, contact Moneymindz, the best free financial advisory services.

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Importance of depositing money in Banks

     
                                           
1. Liquidity:

Liquidity is an important principle of bank lending. Bank lend for short periods only because they lend public money, which are supposed to be withdrawn at any time by depositors. They, therefore, advance loans on the security of such assets, which are easily marketable and convertible into cash at a short notice. A bank chooses such securities in its investment portfolio, which possess sufficient liquidity. It is essential because if the bank needs cash to meet the urgent requirements of its customers, it should be in a position to sell some of the securities at a very short notice without disturbing their market prices much. There are certain securities such as central, state and local government bonds, which are easily saleable without affecting their market prices. The shares and debentures of large industrial concerns also fall in this category. However, the shares and debentures of ordinary firms are not easily marketable without bringing down their market prices. Therefore, the banks should make investments in government securities and shares and debentures of reputed industrial houses.

2. Safety:

The safety of funds lent is another principle of lending. Safety means that the borrower should be able to repay the loan and interest in time at regular intervals without default. The repayment of the loan depends upon the nature of security, the character of the borrower, his capacity to repay and his financial standing. Like other investments, bank investments involve risk. However, the degree of risk varies with the type of security. Securities of the central government are safer than that of the state governments and local bodies and the securities of state government and local bodies are safer than those of the industrial concerns are. This is because the resources of the central government are much higher than the state and local governments and of the latter higher than the industrial concerns. In fact, the share and debentures of industrial concerns are tied to their earnings, which may fluctuate with the business activity in the country. The bank should also take into consideration the debt repaying ability of the governments while investing in their securities. Political stability, peace, and security are the prerequisites for this. It is very safe to invest in the securities of a government having large tax revenue and high borrowing capacity. The same is the case with the securities of a rich municipality or local body and state government of a prosperous region. So, in making investments the bank should choose securities, shares and debentures of such governments, local bodies and industrial concerns which satisfy the principle of safety.

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Let us make advices be your priority

It was Monday morning, when people who regularly play with their TV remote for stock market news suddenly switched their channel to see the fluctuations of players for the tenth season in IPL bifurcating from their regular keenness on stock indices. Indeed, it is truly a magnificent event as of pollsters predicting election outcomes and analysts for stock market, cricket gurus were no behind in analysing who would be the most expensive player yesterday. Every season amazes us with a wonder kid sold for a walloping amount, usually a familiar face most of the time. But, in this season, it was something different when the trend line changed its course and some not so well known players were sold for crores. T. Nataranjan, MD. Shiraj and Aniket Chaudhury all came out from the ashes beating notable players like Pujara and Ishant Sharma, for whom viewers went crazy to be a part of their territorial team. Another underdog from Karnataka, K. Gowtham caught our eyes when Mumbai Indians took him for two crores. Finally, people may call it luck but dedication and sheer hard work always pays off even during a series of unfortunate events like Brexit and Demonetization, Ben stokes was the man with the longest smile.

Big companies are expected to perform and people like going there – It is like for safety and backup. Little do they know that they might end up failing to understand what they are planning, what they are buying and what they are getting? Advices are similar to preaching. People speak, plead or argue in favour of someone. Likewise, before getting into a big company for insurance policy, mutual funds etc., it is better to have a hand on them or precisely an “idea” on the products that you are likely to buy.  When people expected big players to come out wealthiest, some unknown figures became the news on Monday. It was truly unexpected and surely, this world is full of equivocality.

Have a plan and get advice before deciding finally contact Moneymindz, who has the best free financial advisers.

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Spending valentines’ day, so much dedication for love but no concern about your heart

India is prominent for the heart disease capital of the world. Indians are genetically more susceptible to develop heart diseases because our foods are rich in fats and carbohydrates. This coupled with a lifestyle, which requires sitting and little activity adding stress, only makes us even more prone to heart ailments.

Coronary artery disease has rose to 32% among Indians below the age of 40 and they are more at risk compared to Americans, Europeans and others Asians. The number and cost of surgery is rising every year and open-heart surgery is a dreadful process.

Are med claims or Critical Illness Plans sufficient for our heart conditions?

For heart care, we rely on med claim or Critical Illness plans which may not be enough for our families and us. Today, because of medical inflation, the financial impact of any heart ailment can be lethal. A normal med claim is likely to fall short and a Critical Illness plan may not be comprehensive enough to cover many of the heart conditions.

The medicinal and technological advancements have changed the definition of the words 'critical' or a 'terminal' disease significantly. Many of the diseases, which took away lives and were deadly, are likely to be terminal back in the day are not even considered very life threatening now.

Nevertheless, in the case of illnesses like heart attack and cancer, they need to reach a certain level of severity to fall under the domain of a Critical Illness cover. For example, most plans cover heart attacks, CABG and Aorta Surgery but not problems like Coronary Angioplasty or Insertion of Pace Makers etc.

Plans should cover every illness. Plan should be compact and this will not ever come as a gift until people get proper advices. Moneymindz, the best free financial advisory service will guide you against all terminal illness.

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