FAQs
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Insurance
Some of the insurance that is frequently used includes; Life Insurance, Health Insurance, Automobile Insurance, Home insurance and Disability insurance. The type of insurance to purchase depends with individual factors, possession and even economic plans.
For selection of best insurance policy, you should evaluate your requirements, explore different plans available, think over the cost factor and read through the policy documents. Speaking to a more knowledgeable insurance agent may also come in handy in making the decision.
The factors include age, health, occupation, amount of coverage, past history of claims and place among others. In general, greater risk factors may result to high premiums being charged to car owners.
If you have an accident and need to come up with a claim, it’s important to notify your insurance company, do some documentation (pictures, police reports, medical report among others) and follow the insurer’s claim procedure to facilitate quick result.
The moment you start earning your lively hood and or have any responsibilities on your shoulder. New Plans have come up which can be also taken by Children. So as a responsible family member Insurance should be taken as soon as possible. 21 to 25 is the ideal age to start Insurance.
Term Insurance is the need of Hour as it helps your Family with Large Amounts in case of any Mishaps. It is important to note that if nothing happens to you within the policy period, no amount will be given. Having said that, you should always have a combination of Term plus savings Plan. This will also help you accumulate wealth and create a surplus amount for later stage of your life. As the saying goes “ Zinda rehne ke liye Jyada Paisa Chahiye”, so you should buy a combination Plan rather than only Term Insurance.
Ideally you should be insured for Minimum of 25/50 Lakhs in today’s scenario, you may go up to 10 CR or more depending on your Income capacity. For Exact Calculation, please get in touch with us and we will help you find your exact value.
Insurance is the main source and you should be first adequately Insured. As Insurance gives you Guaranteed, Tax free and Life Long Returns, Insurance should be 60% of your total Savings. Once you have your Insurances in place, you may also opt for Mutual Funds/ Gold and Property.
To answer this Question, I will tell something about LIC. The undertaking is by GOVT OF INDIA, so your money is the safest with LIC.
You should always buy from an Insurance Agent. It is always preferred that you buy a policy from a Full Time Agent. Full time agents are dedicated and have more knowledge than part timers. When you buy online, there will be always a case of miss selling and also there will be no one to service you. Remember Online Portal Only do sales, they don’t Service. Insurance service is most required when there is a death in the family. You don't want your family to go pillar and post for Claims, after your death.
You have to do a thorough checkup of your existing policies. We have dedicated team members who will check and give you proper analysis of your existing policies. Accordingly we shall suggest you to continue/ Discontinue or to Increase the policies.
Don't worry at all, share all your policies details with us and we will take care of all your maturities, claims and other servicing aspects.
Mutual Funds & SIP
There are many classifications of mutual funds including equity funds, debt funds, balanced or mixed funds, index funds among others, all categorized by investment objectives and risk tolerance.
Yes, mutual funds are right for the beginners since they provide professional management, diversification and option on the risk level of the funds from conservative to the aggressive funds.
SIP – systematic investment plan can be made frequently with small amount of money; Lump sum is an investment made at once. SIPs are suitable for a long-term investment mode and Lump-Sum is best for those who have a huge amount of capital.
Gains realised by mutual funds are taxable and depend on the kind of fund and period of holding. There are particular rates of taxation for equity fund gains, which are distinct from those of debt funds as well as two rates for short- and long-term gains.
Equity/Shares Investment
Equity shares can also be bought directly by opening an account with a brokerage house through the purchase of shares in stock markets. Most of the online trading companies make sure that you can buy shares through them with ease.
Equity share investment is a kind of investment which involves high risks of market fluctuations, possible erosion of capital and company specific risks. They thus depend with market circumstances, factors in the economy, and the performance of the firms that offer the products.
Equity investments are expected to generate higher returns than other investment types in view of the capital gains and dividends. When properly managed equities are an effective way of amassing large amounts of wealth in the long-run.