Just as it is necessary to register your two-wheeler in a Regional Transport Office [RTO], it is also important to purchase a two-wheeler insurance policy. Both these things can be arranged for you by your bike dealer. However, unlike the RTO registration process, the bike insurance process is not one a one-time activity.

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It is a recurring activity which needs to be performed periodically. And it is not necessary to purchase or renew your bike insurance policy from your bike dealer or an agent or a branch office of an insurance company for that matter. It can be easily done from your mobile phone provided you have an internet connection and know the exclusions of the policy. Read ahead to know more about bike insurance.

Basic insurance terminology

In insurance terms, the person purchasing the policy is known as the first party, the insurance company issuing the policy is known as the second party, and those affected by an accident caused by the insured vehicle are known as third party. Their property is known as third-party property.

What is third party bike insurance?

Third party bike insurance or third-party liability insurance is a compulsory policy that every rider must purchase. The Motor Vehicles Act, 1988 has made it a mandate to purchase this type of policy. The compulsion is directed towards insuring the pedestrians and others that might be affected by a vehicle accident. This policy is designed to save you from legal and financial complications arising out of an accident caused by your bike as well.

What are the exclusions of third-party two-wheeler insurance?

The Third party two wheeler insurance premium rates are specified by the Insurance Regulatory and Development Authority of India [IRDAI]. Similarly, the cover’s exclusions are also stated by the body. All insurers have to abide by the rules and regulations stated by the IRDAI.

Here are the exclusions of a third-party liability policy

  • This policy does not cover damages to your bike due to fire
  • This policy does not cover damages to your bike due to accidents
  • This policy does not cover damages to your bike due to man-made calamities such as riots
  • This policy does not cover damages to your bike due to natural calamities such as flooding
  • Bike theft is not covered
  • Damages shall not be covered if it is found that the bike rider was under the influence of alcohol at the time of accident
  • Damages won’t be covered if the rider does not have a valid driving license
  • Damages shall not be covered in case of a lapsed policy
  • You cannot buy Add-on covers such as Roadside Assistance, Zero Depreciation, etc. with only a Third-party Liability policy
  • Pillion rider is not covered

Upgrading your third-party two-wheeler insurance policy

As it is evident from the above exclusions that a Third-party two-wheeler insurance policy is not at all extensive. It is a minimalistic cover. If you wish to go for an extensive cover, you can opt for a Comprehensive plan. It includes the mandatory third-party cover and insures your bike from accidents, calamities, and theft. It also includes a Personal Accident cover that comes along with the Third-party policy. You can choose to strengthen your Comprehensive bike insurance plan with suitable Add-on covers as well.

Online Two-wheeler Insurance

Whether you choose to purchase the basic third-party cover or go for a Comprehensive plan, you can insure your bike within minutes. Online two wheeler insurance is easy, quick, and hassle-free. With online two-wheeler insurance, you do not have to visit the insurance company’s branch or chase an agent, you can simply insure your bike from your mobile phone within minutes.

Unit-Linked Insurance Plans [ULIPs] are attractive investment products for those who want to grow their wealth along with availing of a life insurance cover. ULIPs serve two purposes- investment and insurance. They invest a portion of the funds into investment products and the remaining into covering for your life. ULIPs have a dual advantage and offer various benefits.

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If you are a goal-oriented investor, ULIPs are an ideal investment option for you. Bajaj Allianz Life, a leading insurance provider has tied up with India Post Payments Bank for its life insurance service. It offers a goal-based plan, which has numerous benefits for you. The unique features of the plan are the benefits through the ‘Return Enhancer’ and the ‘Return of Mortality Charges’. The ‘Return Enhancer’ benefit allows you the option of an additional 0.5% of each installment due in cases when the benefit is given in the form of installments over a tenure of five years. The ‘Return of Mortality Charges’ is a facility where the company guarantees the cost of life cover on the maturity of the policy, which enhances the value of the maturity amount.

Consumers have always preferred investing in ULIPs and the returns have been consistently increasing. The charges on ULIPs have come down over the years. Today ULIPs are quite different as compared ten years back when it comes to investment. ULIPs are a dependable investment option as they help you in diversifying your investment portfolio. Moreover, they are a viable investment product if you are looking to invest for a long period.

Why ULIPs are an ideal product for you

Higher returns

ULIPs have shown better returns than any other investment or insurance product and this is because of the equity advantage. The premium paid by you will be invested into different asset classes, which will help you gain maximum returns from the investment. The amount of maturity will depend on the performance of the equity market and the tenure of your investment.

Flexibility

With ULIPs, there is an option of switching the funds during the tenure. This allows you to choose from equity, balanced, growth, and income funds as per your risk appetite and your investment goals. You can make four switches in one year without incurring any charges in your ULIP investment and you need to keep a track of the companies in which the fund invests. You need to choose the policy and change the allocation of the funds anytime in the term.

Dual advantage

Term insurance offers life cover and helps save tax. However, it offers no returns. With ULIPs, the tax advantage is up to Rs. 1.5 lakh under Section 80C of the Income Tax Act. They will help you achieve your long-term financial goals and provide life insurance coverage simultaneously.

Lock-in period

There is a lock-in period of five years in ULIPs, which will help build financial discipline in your life. It is a long-term contract; hence, you can choose to invest in a single ULIP. You do not need to invest in multiple products for insurance and investment purposes, as this one investment product will meet all your financial needs.

Comparison of ULIPs and mutual funds

Many investors who were once inclined towards fixed deposits are shifting to mutual funds and ULIPs. It is important to understand the difference between ULIP and mutual fund. They both are different types of investment products that serve different purposes. Firstly, ULIP is an insurance cum investment product and serves the dual needs of the investors whereas mutual fund is solely an investment product. There is limited liquidity in ULIPs because of the five-year lock-in period and in case of mutual funds, the liquidity is very high because you can withdraw the funds as per your needs and requirements.

ULIPs offer a tax deduction under Section 80C of the Income Tax Act, 1961 for an amount of INR 1.5 lakh. In addition, the maturity benefit is also eligible for tax benefits under Section 10 (10D) of the Income Tax Act. In the case of mutual funds, only the profits from Equity-Linked Savings Scheme (ELSS) are tax-free below the amount of INR 1 lakh as per Section 80C.

Before you make an investment decision, it is important to understand and compare the products. You can compare ULIPs online and choose the one that fits your financial goals. If you are a new investor and aim to make the most of the stock market, you can choose from a range of investment products based on your goal and investment horizon.

ULIPs are much more investor-friendly as compared to when they were first introduced in the market. Today, they are showing steady returns and the cost associated with them has declined. However, it helps to remain invested ULIPs for a long tenure. ULIPs are a great wealth-creating investment option combined with the benefit of life insurance coverage. You can choose the best ULIP plan based on your risk-taking ability and then determine the tenure. You will have to remain invested until the end of the lock-in period to gain maximum benefit from the investment product.

Running a small business in an ultra-competitive business environment successfully often means that the owner has to take up several roles and juggle multiple tasks. On one side you need to hire a great team that can take your business to the next level and on the other side, you need to ensure a steady stream of cash to keep operations up and running.

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From planning and budgeting to staffing and selling, every department demands a great deal of your time, attention and effort, especially in the first few years. All of these challenges explain why more than 20% of small businesses fall flat by the end of their very first year. Not to mention the need to strike a perfect balance between a strapped budget and business growth.

Staying organized and focused amidst all this chaos and confusion can be quite a challenge for an already overburdened business owner. Thanks to technological advancements today, productivity apps for android smartphones can help ease the burden of managing multiple tasks and make the process simple and efficient.

Let’s take a look at six such productivity apps for smartphones which offer big benefits for small business owners.

Evernote – There are thousands of thoughts running through your mind during the day. It’s impossible to pen down each and every thought and keep track of the details over a period of time. Well, Evernote app is a boon which can simplify storing and managing information. Evernote allows you to:

  • Create notes and share them easily
  • Sync and access all the information from multiple devices
  • Attach audio notes and voice memos
  • Tag or flag ideas to go back to them without having to search
  • Put reminders

With this app in your smartphones, you will never have to worry about jotting down a single word or remembering details from that important call with your client. You can create, organize and share content easily with your team members.

Vivial – You don’t have to worry about wasting time by logging on to various platforms for publishing news, deals, events, promotions etc., regarding your business. You can do all of this with a click of a button and make your business visible on multiple websites, local web directories and social media platforms using the Vivial app.

InDinero – Need help with managing your business finances? InDinero lets you manage the cash flow and all the other business related finances with ease. The app also has a feature which lets you sync your bank account and credit/debit cards. InDinero can even predict future cash flow on the basis of past trends collected from the data stored.

Wave – Turn a cumbersome task of handling the entire billing process into a simple one with this wonder app. Wave lets you manage important tasks such as creating invoices, sending estimates, processing and tracking payments efficiently and easily. It allows you to design and send invoices as well as estimates within few seconds. You can also manage payrolls and track payment status effortlessly with Wave app.

Salesmate – Enhance your sales performance with this smart sales CRM app. It automates most of the processes for you so that you can dedicate your precious time towards more important tasks. It centralizes data and keeps you organized so that you don’t waste time in searching for important information in different places. It streamlines your pipeline to help you effortlessly manage, nurture and close deals quickly. This helps you boost your sales productivity. Salesmate also sends notifications so that you can stay on track and complete your tasks on time.

DO – It is one of the most reliable apps to log and track all your to-dos. It has a stunning interface which is extremely easy to use. The signature feature of this app known as Any.do Moment encourages better task management practices. Its basic version is free to use but you can unlock some of its great features with the paid version. For instance, you can share multiple tasks with unlimited options for recurring tasks. Also, you can benefit from the location-based reminders feature with the paid version. You can download the Any.Do app from here.

These apps promise to make managing your business easier. Their efficiency also depends on how you use them. If you use them dedicatedly and integrate them with your business process aptly, you can boost your productivity and in turn the growth of your business.

Which are your favorite productivity apps, do leave the name in the comments section…

You must have often contemplated on how you could have saved a little more money so as to meet all your dream goals without worrying about finances. Just like you, most of us are battling dilemmas between saving a substantive amount of our earnings looking at the bigger picture, and spending the same on irrelevant, whimsical temptations. It indeed is a tough choice especially when you have money lying loose in your wallet!

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To avoid falling prey to unnecessary temptations, having a savings account is imperative. It is one of the most trusted hacks to keeping your money where it truly deserves to stay and grow. Saving substantial amounts of money in your savings account, only after conducting a comparative analysis of the best savings account interest rates is a foolproof idea to intensify your financial base. Here’s what you should do!

Zero out the day’s savings

In order to go through this process, you will first have to get detailed knowledge about your savings account and the way it will work towards your financial goal. The money that has remained with you in your savings account as well as the amount that you still own in person must have their last digits subtracted from them respectively. This has to be done in order to get a zero in the end. Take the zeroed out cash to put inside your additional savings account or even a piggy bank to make a sum of that elsewhere contributing to savings for a different cause.

Increase the zero-out process

In case your tertiary financial goal is bigger and needs to be attained faster, it is necessary that you increase the bait. This is to say in such a situation you must zero out not the last one but the last two digits from your day’s savings into the other account, which will enable you to reach your goals faster. In addition to this, such a well maintained account will also account for more savings account interest rate at the end of a year. This is always an additional bonus that you can enjoy.

Save what’s left before payday

It is important for you as a finance owner to realize the importance of being mature with your money. The first step towards doing it is to understand that the money left with you before payday arrives is not your award, which you can spend recklessly. It rather is a great opportunity to spend tactfully before new money enters your account. This process accounts for an additional amount of savings that you had not counted in your growth plan.

Advantages of this process

Apart from the different savings account interest rate that you are going to enjoy as a result of saving your money in different accounts by means of such unique hacks, there are also certain other advantages of following this process. The foremost being, you are always informed about how much money you own every morning, in addition to the money always being a round figure. These tendencies also stop you from wasting your twos and threes on unimportant things for you are aware that they are going to be put into a better cause. The genius hack comes with such simple rules and always ensures greater savings in your multiple savings accounts.

If it is about saving up and cutting down on extra expenses, the only legitimate way out is a savings account. No matter what, there is no shortcut to inculcating strict and regular saving habits.

These days, the moment ‘digital marketing’ or ‘social media marketing’ gets uttered, we can’t help but include influencer marketing. Many marketers swear by influencer marketing because it’s effective on younger audiences who don’t believe in advertising.

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However, marketers agree that it gives them a hard time to calculate the ROI of their influencer marketing campaigns. Let’s see what we can gain from influencer marketing campaigns.

It Increases Sales

Did you know that 53% of companies use influencer marketing strategies to increase their sales? The feedback and reviews from influencers are completely genuine. Such authenticity helps brands win the trust of their customers and encourages them to make more purchases.

70% of millennials are influenced by social recommendations while making a purchase decision. Therefore, recommendations by influencers can definitely increase your sales.

Generates Great Content

Influencers know their audience and therefore create the right kind of content that works for them. The added benefit is you can always re-purpose the content for other marketing communications.

Establishes Your Thought Leadership

Consumers can associate an influencer’s thought leadership with your brand. Therefore, if your influencer is an expert in a particular field, it adds value to your brand by strengthening your authority in the field.

Gets You More Engagement

Authentic and engaging content from influencers is what attracts their audiences towards them. It encourages their followers to engage with such content too. Many influencers believe that their sense of humor and honesty are the reasons for their high engagement rates.

According to Linqia, 89% of companies use influencer marketing to share authentic stories about their brand. Due to such authenticity, followers continue to engage with an influencer’s branded content. And in this way, audiences are effortlessly transformed into becoming paying customers for brands.

Multiplies Your Reach and Access to New Markets

Influencers can help brands tap into and explore new markets and expand their reach. Many people largely depend on the recommendations of influencers. So, this helps brands access new potential customers and win their trust.

Improves Search Engine Ranking

Did you know that 47% of marketers use influencer marketing to boost traffic to their websites? Using influencer marketing, you can also improve your search engine rankings.

You need to ask influencers to write and share their honest reviews about your products or services on their blogs. This can help you get the attention of your prospects and gain valuable back-links that can help to improve your rankings on search engines.

The ROI of Influencer Marketing

A study by RhythmOne found that you can generate massive ROI in earned media value using influencer marketing. Influencer marketing has helped companies generate $11.69 for every $1 they’ve invested.

In addition, 76% of marketers agree that influencer marketing has helped them build brand awareness on social media. Almost 71% of companies have agreed that it helps them reach more targeted audiences. When calculating the ROI of your influencer marketing, you should also keep the following points in mind-

1. Influencers’ Cost

No matter how you are paying your influencers – cash, kind, event tickets or any free service – it would incur you some cost. Obviously, the bigger the project, the higher the cost would be. You can also opt for an affiliate model where you give a percentage of sales to the influencer

2. Time Invested

A lot of your time will be invested in planning and executing your influencer marketing campaign. You’ll have to especially invest your time into communicating with influencers and helping them understand your goal and the brand personality.

3. Cost of Hiring an Agency or Buying a Software

For bigger projects, marketers might need to hire agencies to kickstart their influencer marketing program. You might need to too. If you’re among the businesses that require the help of an agency, make sure you consider the agency cost. And if you’re investing in an influencer marketing platform, consider the cost of that.

Check out the infographic below to further discover more factors to consider when calculating influencer marketing ROI.

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As soon as you become a parent, you start planning to get the best for your child. From diapers to their higher education, you think about each and everything that secures your little one.

Financial investments too find their place in your head. You start looking for options that can fulfill all your goals, especially the higher education of your child. Interestingly, over the time financial investments have improved and customized themselves as per the growing demands of the customers.

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Now, there are plenty of investment plans that can secure your child’s future and fund higher education. One such plan is Unit Linked Insurance Plan. In this article, you will get to comprehend this investment plan better and how it can help you in accumulating funds for your child’s higher education. Read on!

What are ULIPs?

If you are not much aware of the financial tools for investment, you might want to know what exactly is a ULIP plan. As mentioned above, ULIP stands for Unit Linked Insurance Plan which brings together the features of both insurance and investment.

For a ULIP plan, you will have to pay premium either monthly or annually. While the small amount of that premium goes into your insurance, the other part is invested into various options based on equity or debt to match your long-term goals. The goals can range from children’s education, marriage or your retirement plans.

How Can ULIPs Help Secure Your Child’s Future?

Here are some benefits that ULIPs offer to secure your child’s future:

Life Cover

This is the first and basic benefit that ULIP plans offer. As mentioned before, ULIPs are coupled with life insurance. This means that they will provide financial security to your family in the event of your untimely and unfortunate demise. Your beneficiary, i.e., your family will receive both the sum assured and fund value that your investments will gather.

At the time of buying the ULIP plan, it is essential that you must understand the future needs of your child’s education along with the inflation rate. This will help you choose the right target which can fulfill all the needs of your child’s education when the time comes.

Flexibility of Portfolio

There is no doubt that by introducing the investment benefit ULIPs become doubly advantageous. But what is more interesting about this investment feature is that you can decide where you would like to invest your money.

However, this can only happen if you carefully monitor your plan and notice if the progress can meet your future requirements. In case the investments are not suiting your long-term plans or are facing downfall due to market conditions, you can shift them between equity, debt and balanced fund options. For instance, if there are some issues in the stock market, you can opt to transfer your investment to debt and gain promising returns.

In a nutshell, the flexibility of the investment portfolio can help you accumulate enough funds for your child’s education.

Greater Returns with Less Risk

If you have started planning for your child’s future earlier and have long-term goals, ULIPs are ideal for you. The reason behind this is the volatility of the stock market. As ULIPs are linked to the stock market, its fluctuations can result in poor returns for short-term goals. However, the situation changes when you opt for a long-term investment. Your investment can digest the market risks and offer higher returns to you. This is also the reason that ULIPs are quite popular when it comes to achieving long-term goals like financing your child’s higher education.

Partial Withdrawals

At times, you would wish to withdraw a portion of your investments to finance your child’s education. ULIPs offer you this benefit but only after the specified lock-in period [5-years].

Various financial institutions have different terms and conditions for this. For instance, if you are buying Future Generali Big Dreams Plan, you can instruct the insurer in writing to withdraw partial funds after the lock-in period of 5 years. You can make unlimited free partial withdrawals under this plan. For more information, you can visit the official website.

Summary

Securing your child’s future is directly related to offering them quality education. Therefore, it is essential that you have enough funds to fulfill these needs. ULIPs prove to be the right companion for you in this journey of wealth creation. No matter what your child wants to be, a ULIP plan will ensure that his/her dreams do not remain just dreams but become a glorious reality.

HackerEarth, India’s leading innovation management and talent assessment company today published a report titled ‘Women in Technology 2018 : Breaking Gender Barriers‘, exploring the state of female technologists across the globe and the challenges faced by them in the workplace.

The objective of the report is to raise awareness on the issue of biased recruitments and highlight the ways in which organizations can hire and retain more women in technology-based roles. HackerEarth surveyed over 1000 women from 35 countries holding technology positions in various organizations. 84% of the respondents are under 30 and belong to various ethnicities. Developers from Asia, Africa, Europe, North America and South America participated in the survey, where they were asked about their background, career, hiring experience and employee satisfaction.

Gender disparity in tech roles

The report shows stark disparity in the number of women employed by organizations of all sizes; only one-third of all tech teams comprise of women. Despite 86% of the respondents having a formal degree in computer science, majority of them believe there is a hiring bias for technology related roles, and there exist roles which are more challenging for women to enter.

The report also suggests that after a point, most women at these organizations experience a stagger in their career growth, with only 2% being promoted to leadership roles. 72% of the respondents are currently working as software developers and respondents with roles such as Product designers, QA developers, System Admins, and Engineering Managers were in the minority. Almost 80% of the women are working full-time or part-time, but 53% are seeking new roles, while only 11% said that they wouldn’t consider a new offer.

Factors contributing to high attrition rate amongst women developers

The data from the report shows that there is a high attrition rate among women developers in most companies. An interesting trend uncovered by the report, is that most respondents had an average tenure of only 0-2 years, while only 5.3% choose to stay at the same organization for more than 8 years.

HackerEarth has also created a job satisfaction index which shows that 48% of the respondents surveyed are satisfied to an extent in their current jobs. Almost 69% of the women stated that the reason they would consider moving to a new job is to work with emerging tech, 63% would choose a higher paycheck and almost 48% would move to a new job offering flexible hours.

Barrier to entry and challenges for minorities

HackerEarth also took ethnicity under consideration as women belonging to ethnic minorities found it even more challenging to get hired for the right jobs. 58.3% of the African American women and 43% of Hispanic women who responded to the survey, have identified unequal hiring practices as the key issue when it comes to gender disparity in tech roles.

Gendered wording in job adverts has also been identified as the main barrier for women to apply for jobs of their choice. 50% of the respondents believe that job adverts for technical roles tend to have gendered wording, which discouraged them from applying for the position. 62% of the respondents have also supported the claim that blind recruitments can improve technical hiring among women.

Factors encouraging women technologists to continue in their current roles

The report lists solutions to the issues faced by women in the field of technology. Factors which encourage women to continue their career in technology include growth opportunities, better work-life balance, opportunity to work on exciting new technologies, flexibility, better compensation and adequate training. Installing worker-friendly policies, child care services and flexible schedules can help women rise to better positions.

While only 19% of the respondents cite that their organizations were ‘not at all family-friendly’, more than 50% said that their organizations had some policies that are family oriented. 81% of the respondents also felt that their organizations valued their opinion and 71% responded that their employers provided adequate opportunities for women looking to rejoin the workforce after a long break.

In conclusion, there is still a long way to go to encourage more women to take up a career in technology. Practical solutions such as blind recruitments, building family-oriented policies, and up-skilling opportunities will help women excel in their careers and reduce gender disparity in every organization.

To download the full report, please visit here.

Home loans can help your dream of owning a home come true. With stiff competition prevailing in the home loan market, Banks and private finance institutions employ various marketing techniques to rope in a borrower.

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Yet, there are some key factors that decide your prospects of getting a home loan sanctioned which are outlined below:

Availability of all the requisite documents

There are many essential documents demanded by home loan lenders [strictly by PSU Banks] when a home buyer approaches a lender for a home loan. These broadly  include PAN details, Aadhaar details, income proofs and documents pertaining to IT returns. Make sure that you produce all of them as they not only ease the process of getting a loan but also enhance the scope to get a good home loan interest rate.

CIBIL score

CIBIL stands for Credit Information Bureau (India) Limited. It generates a score [CIBIL score] which is a 3 digit number ranging between 300-900 by evaluating your credit history and creditworthiness. The closer your score is to 900, the stronger your credit profile to get a home loan. You can estimate your CIBIL score online, free.

Your housing project must be RERA registered

The Real Estate Act makes it mandatory for commercial and residential real estate projects to register with the Real Estate Regulatory Authority [RERA]. It provides greater transparency in project marketing and execution. It is important to note that no home buyer will get a home loan if the builder is not registered with RERA. The RERA Act is fully operational in the states of Maharashtra, Gujarat, Madhya Pradesh, Punjab and Rajasthan.

Occupation of the borrower

Housing loan institutions prefer borrowers who are Government employees as they have a stable job and are more unlikely to default while repaying their home loan. Thereafter, lenders while calculating the eligibility of the borrower through the home loan eligibility calculator, prefer doctors and people working with blue chip companies. Furthermore, lenders also check the the history of employers paying salaries/dues to its employees.

Age of the borrower

Age is another criterion that lenders consider before giving a loan. People in the age group of 30-50 years are preferred more as they have a good number of working years left to repay the loan amount.

These are some of the factors you need to keep in mind if you are a home loan aspirant. Remember to calculate your monthly installments using the home loan emi calculator. Also, when you have all the requisites for a home loan working in your favor, you get to choose from a wide gamut of lenders. That leads you closer to fulfilling your dream of owning a home without a hassle.