Hospital daily cash plans act as a supplement to the standard health cover. Let’s understand this plan in detail.
The hospital daily cash plan is a health plan which provides a fixed amount for each day you are hospitalized. The amount paid is set at the time of policy and remains fixed. The program is a defined benefit which means that it pays a fixed amount irrespective of the actual amount of expenses.
So, if you are hospitalized with a plan which pays Rs.800 per day of hospitalization, whether you incur Rs.600 or Rs.1400 as actual charges would be irrelevant, and the insurer would pay a fixed benefit of Rs. 800 for each day of your hospitalization. (more…)
All posts by Ashish Kumar
Helping Users Make Informed Investment Decisions based on Quantitative Data and Qualitative Analysis
Hospitalisation Cash Benefit Plan
What is a Credit Card?
Credit cards are issued by banks and financial institutions, allowing the customer to make purchases and pay for different services by borrowing money from them. A credit card also offers you benefit from rewards, cashback, interest-free period, and much more. The demand for credit cards into the Indian market is increasing rapidly, and for that reason, the banks and the financial institutions have launched plenty of credit card options for the customers to choose.
There is a variety of credit cards available in the market having different features and benefits linked to them. The most popular of them are premium credit card, business credit card, lifetime free credit cards, cash back credit card, co-branded credit card, fuel credit card, and many more.
Personal Accident Plan
Personal Accident Insurance plan provides complete financial protection to the policyholders against unseen instances such as accidental death, accidental bodily injuries, and partial/total disabilities, permanent as well as temporary disabilities resulting from an accident.
In the case of accidental death of the policyholder, the nominee gets 100% compensation from the insurance company. There are additional compensations that are offered for accidental disability, such as loss of eyes, limbs, and speech.
Accidents can happen anytime, anywhere, and may result in minor to severe injuries or lead to death. Such uncertainty may lead to a financial crisis. Accidental Insurance policies act as a guard and protect from such uncertainties. It provides the necessary financial assistance to you and your family against accidental death, bodily injuries, and disabilities (Partial/ Permanent/Temporary). There are various other benefits such as accidental hospitalization cover, Hospital Confinement Allowance, and Medical Expense Cover.
Advance Salary Loan
“The most important investment you can make is in yourself.”
-Warren Buffett.
A shortage of funds may occur many times before getting the salary to your bank account. In that situation, advance salary loan help. In another manner, one can say that advance salary loans are temporary loans offered to salaried professionals who are working in India. Like a personal loan, the interest rate of these loans is calculated every month or sometimes daily by some lenders. The foremost advantage of these loans is that they are available to those individuals with an average credit score. It does not take more then half an hour if the person is opting for an advance salary loan. And due to this, there is a high factor of risk involved. Hence, advance salary loans come with a high percentage rate.
One is advisable to opt for an advance salary loan in an emergency when no other options are available.
Active, Passive and Balanced funds
Investing can be a scary endeavour without a road map. Each investor has a different mindset when they invest. The final goal of an investor must be to choose funds planned as per his/her financial goals and strategies. Here is the breakdown of how one should opt for active or passive funds when it comes to investment.
What are Active Funds?
Active investing is a strategy that involves buying and selling assets to make profits that outperforms and sets the benchmark in the index. A fund manager is an example of an active investor.
Investors in actively managed funds will have to pay higher annual charges for the expertise of the fund manager, the interest is usually between 0.6% to 1.5%, and sometimes it could be more, depending on the type of the portfolio they are running. So it is up to you to decide whether the cost of a fund investment is worth the potential returns you could receive.
What are Passive Funds?
The importance of making a Will
Making a will can save your loved ones a large amount of money and stress. A will is a legal document that stipulates your wishes as to who will receive your property and possessions when you die. It is important that you have a valid will to ensure your estate is distributed to those you wish.
The statistical data says that 80% of Indians do not have their wills made and the reasons for it are many. Here are some of them:
- It’s too early to think about.
- Making a will is a lengthy process
- I am not aware of rules and regulations
- I have told my spouse and children of my intentions that I will do
And many more…..
While each person’s situation varies, here are seven reasons to have a will:
Term Insurance Explained: What, Why and How
Term insurance is a pure risk cover product. It pays a benefit only if the policyholder dies during the period for which one is insured. Term life insurance provides for life insurance coverage for a specified term of years for a specified premium. The premium buys protection in the event of death and nothing else.
The three key factors to be considered in term insurance are:
- Sum assured (protection or death benefit)
- Premium to be paid (the cost to the insured), and
- Length of coverage (term).
