Many people buy life insurance policies without understanding the features, coverage, and benefits. Due to this, they not only choose the wrong plan but also lose the benefit from the same. This is due to the lack of awareness of the policy cover and the exclusions.

Before you purchase a life insurance policy, you need to ensure that you do not do it for the below-mentioned reasons.

1. To reduce tax payable

The biggest reason people buy a life insurance plan is to cut down on the tax liability. This should never be the sole objective of buying the plan and if it is your objective, you need to consider other investment products that not only cut down on the amount of tax but also give high returns.

2. The agent has created a long-lasting impression

Agents convince clients by showing low premiums at high coverage and by asking for minimal documentation. They might also offer you tips on different ways you can save tax. Do not simply follow everything that the agent tells you. Take some time and understand the plan. Do not be in a rush to sign on the dotted line.

3. Suggestions from family and friends

Your friends and family are your well-wishers. However, you need to understand that the effectiveness of every insurance plan will vary from one individual to another. A product that works well for your friend might not work in the same manner for you. Your income, health, and needs are different from theirs and one plan will not be suitable for all.

4. The insurance agent is your relative

Agents have a habit of approaching friends, relatives, and family to sell their policy. In this case, you need to be able to say no to them. You are under no obligation to purchase the policy because the agent is your friend or relative. An insurance plan is a long-term commitment and you need to think before you act.

5. Never mix insurance and investment

The agent might try to convince you by saying that a life insurance plan offers investment and insurance benefits. There are life insurance moneyback policies that offer the same. However, before you make a decision, you need to understand what a moneyback policy is and consider whether you need it or not. You need to consider whether you are looking for a pure insurance product or looking for a return from the policy.

6. No need for a medical checkup

This is the worst reason to buy an insurance plan. Buying life insurance is an important decision and a life-long investment. You should not decide whether to buy one or not based on a negligent factor like no medical exam in life insurance. In reality, a medical examination will assess your health condition and you will be able to choose a suitable insurance plan.

7. Guaranteed returns

Guaranteed returns in a life insurance policy come at a cost. If you are looking for returns and not comprehensive coverage, you can opt for other investment options.

If you are buying life insurance for any one of the above-mentioned reasons, you need to look for alternative options. The ideal purpose of life insurance is to be a cover for your life and you should buy it for the same reason.

Are you looking for the best indicators for intraday trading? In actuality, there are very few indicators that serve the purpose. Most trading indicators can confuse traders and in some cases, make day trading an unpleasant experience. This is why, it is crucial to be cautious on the kind of intraday chart, strategies, techniques and patterns you are following so that they can be used appropriately on the right trading indicators.

As a day trader, it is exceptionally vital to understand these factors as your trading decisions can be based on these indicators.

One of the most essential intraday tips is always to follow the trend. Regardless of whether you are a new intraday trader or a seasoned one, the most critical trick you have to adopt is to forecast the movement of stock prices that you are trading in. Intraday traders look to understand the market and see where it is going or expected to go, in order to make the right trading decision. You can do this by employing technical analysis.

Technical analysis is useful in analyzing price movement statistics and volumes, making it an effective trading mechanism to forecast the future trend of the stocks. With the help of advanced trading software and analytical tools from reputed brokers such as Kotak Securities, you will be able to make predictions based on the intraday-trading-indicator information provided by the software.

Broadly speaking, there are four categories of intraday trading indicators. Some experts recommend following one indicator in each group to make the best decisions. The four types are-

• Oscillators
• Volume
• Overlays
• Breadth Indicators

When used in combination with effective trading strategies and techniques, intraday trading indicators can provide you with the best returns. While some traders employ a wide range of indicators, and some use none at all, it is strongly advised to use only the best and most appropriate indicator to make the right call.

Remember to use trading indicators in alliance with your overall trading strategy. Understanding how the indicator can work to your advantage, the assessment it makes and how these assessments can impact your trading decisions can be of paramount importance.

Here are some best intraday trading indicators that are used either individually or in combination with other indicators. They are-

• Moving Averages
• Moving Average Convergence Divergence [MACD]
• Bollinger Bands
• Relative Strength Index [RSI]
• Advance -Decline Line
• Average Directional Index [ADX]
• Stochastic Oscillator
• Super Trend
• Commodity Channel Index
• On Balance Volume

You can gain vital information from intraday trading indicators. They offer:

• The direction of the trend to help you make the right move
• Offer insight on the absence of or current momentum in the investment market
• The likelihood of earning profits in a volatile market
• Identify popularity through volume measurements

Conclusion

There are various intraday trading indicators widely available to traders. However, at the end of the day, what you derive from each trading indicator or their combination is dependent on your astute judgement. Financial experts recommend that only one or two technical indicators be used at a time during a trade. This is because more than one trading indicator can result in unneeded information that could cloud and complicate your decision-making process.

Since health insurance policy covers your prestigious life, they are bound to be expensive. However, there are various ways and tricks that can help an individual to lower the costs of investing in a health insurance policy. Once you utilize the right trick in order to make your purchase, trust us, you’ll end up saving more than you should.

Therefore, consider these eight ways in order to avail cheap health insurance plans:

8 Ways to avail of cheap health insurance

1. Make comparisons between plenty

Before purchasing a health insurance policy, make comparisons between multiple policies in order to land up with the best one. Compare health insurance features, benefits, rate of premiums, and so forth. Once you know what you really want, then narrow down the policies to top 3. Further, finalize the best one based on its coverage at an affordable rate.

2. Understand the needs of your family

The next stage of opting for cheap health insurance is by understanding the needs of your family. It is important for you to know who you wish to insure in the health insurance. Whether you decide to cover your spouse, children or your parents, take a look at their past medical history. If there is a member above 50 years of age, then opt for coverage which will suffice their and your needs together.

3. Invest in the policy at an early stage

While hunting for the right type of health insurance plans, a majority of people often make the mistake of investing in it in the latter stage of their lives. Purchasing health insurance literally comes with the price of hefty premiums. In order to pay low premiums, buy health insurance at the age of 25 years or above. The younger you are, the lower are your premium payments.

4. Lead a healthy lifestyle

A healthy lifestyle means less frequent trips to the doctor and prevention from unwanted sickness. Moreover, leading a good lifestyle will determine the type of coverage you need. The healthier you are the lesser coverage you will need which will eventually save your money. Therefore, follow a disciplined and healthy life in order to cut down on unwanted expenses.

5. Look for additional features

Typically, an insurance company provides additional features in its health insurance policy. These additional features are made available to the customers in the form of add-ons or riders. Add-ons like top-ups, indemnity covers, and so forth prove their utility by serving the customers based on their requirements. These add-ons save financial trouble as well as enhance the value of the insurance policy.

6. Assess the coverage

Assessing the coverage of the insurance policy is an important stage that cannot go ignored. When you opt for health insurance, you trust them to cover you in times of medical emergencies by providing financial support. Therefore, see to it that you read the terms and conditions of the policy thoroughly. It will help you in understanding what the medical plans it covers and what it does not.

7. Consider pre and post hospitalization expenses

Certain insurance companies offer coverage for both, pre and post hospitalization expenses. These expenses are usually ambulance charges, dental care and so forth. Additionally, at times it also covers expenses related to childbirth, pregnancy, hysterectomy, and so forth. In order to know what your insurance companies covers, go through the inclusions and exclusions of the policy carefully.

8. Go for lower premiums

If you’re looking for cheaper health insurance plans, then look for policies that offer lower premiums. However, there are times when a policy which guarantees lower premiums is not always up to the mark. In that case, you can simply lower premiums by incorporating certain twists and tweaks like opting for high deductibles, choosing top-ups and so forth.

Now that you the technique of choosing cheap health insurance plans, when are you availing its benefits? A plan that doesn’t wash off all your hard-earned money and is affordable is the right choice for the entire family. Therefore, purchase a plan which provides optimum benefits to the members of your family at an affordable rate.

Using credit cards is a regular occurrence in present times. It has impacted our lifestyles greatly, giving us the financial freedom in times of need. These give us benefits of cashless transaction, reward points and discounts, good credit score, and a lot more! But it is very important to take note of how you use your credit card. Quite often credit card payments are overlooked, resulting which you end up paying huger sum of interests on higher amount of dues. This impacts your credit score greatly and also tends to trigger a debt-trap for you in the longer run.

To avoid being a prey of such an unforeseen scenario, here are the six bad credit card habits to quit right now!

1. Paying the minimum dues on your credit card – When you owe an amount to your credit card provider, you are provided with a minimum payment amount cap which is generally 2% of the total payable amount. If you are only paying back the minimum amount, your card provider is up for gaining bigger profits! He is only looking to let you carry bigger burdens of repayment so that he could charge you bigger amounts of interest in the long run. This creates a negative impact on your credit score and traps you in a never-ending process of credit repayment.
2. Looking for better reward points – Credit cards often bring you several reward points on completion of certain benchmarks. While these can also be seen as benefits, if you flip the coin, you will see that credit card providers lure you into shopping more and more, thereby adding numbers to your overall credit figures! These are actually marketing gimmicks which you should stay safe from.
3. Missing/Overlooking Payments – Avoid making late payments for your credit card If you delay making payments for your credit dues, you might be bogged down with a terrible credit score, penalty payments, unpleasant payment reminder calls and a lot more. You would not want to pay hefty payments on interest and late fees for a skipped credit card payment right?
4. Exploiting cash advances – Cash advances are quick solution to your emergency needs. But if you are withdrawing money from an ATM with a credit card, you must be aware that the interests levied on the amount are calculated from that point of time instead of being levied after a month. The interests keep accumulating without a grace period. So, be very sure of when you need a cash advance.
5. Overspending – Your credit card expenses should be done according to your income. Ideally, you should not spend more than 50% of your balance, failing which you may have to face huge difficulties in paying back. This is where credit cards trap you. It continues to suffice for your needs even when your bank account dries up. So, you better be careful before overspending!
6. Applying for new credit cards – Having more than one credit card can sometimes turn disastrous for you. You will end up spending more, and have different liabilities toward different credit card So, it is better to stick to your exact needs and choose the number of credit cards that you can afford to use.

Ensure staying away from these bad habits of using a credit card, and you would have a healthier financial position in the nearer times to come.

Indians possess never ending love for gold jewelry and that is universally known. We Indians hold the record of importing around 25 ~ 33% of the gold production all across the globe. Be it as jewelry for occasions or bars and coins for investments, the intrinsic gold-value is revered and treasured all over.

The lenders understand that and so, appreciate the value of gold, whatever form it is in, provided it is pure and weighs over permitted extent. Gold is precious as its rare, and its extraction and processing a lot of time and effort consuming. Regardless the form of gold, its basic worth is linked to the international demand and supply factors, which adds up to a significant value. Let’s have a look at the ways you can use your gold other than wearing it once in a blue moon!

Leveraging Gold against a Bank Loan

If you have some gold, and have no idea how to meet urgent need of cash, you can simply go to the bank with the gold and get a gold loan. A gold loan is popular for its easy disbursement as well as quick processing against the safety of gold as collateral. The interest rates on gold loan are strikingly low, with varied tenure options and easy acquiring of the loan with gold as security deposit. The lenders stay on the safe side knowing that they have the option to sell the collateral in case of failed payment of loan amount.

ABCDs of Buying and Selling Gold

Now the question is how to put the entire potential of the gold to use?

First of all, you must be aware of gold price movements in the market. The most basic, ancient and most trusted way of making most of gold is by buying low and selling high. Observing the global indicators and factors contributing to gold rates and get into smart purchases on right time. There’s least chance of gold rate falling lower than the purchase price by a huge difference, and it’s almost a sign for you to appreciate it over the upcoming years and seeing the value grow.

So the trick is to buy when the price of gold is low, and to wait for selling it for a couple of years regardless what fluctuations occur in between. After a span of 2 to 3 years, look for the highest price and sell it. It’s never a wise idea to sell off your gold if there’s no dire need. This way, you will always have a good amount of gold to rely on. So after you have sold the gold, wait for the time the gold rate goes low and then buy another chunk to repeat the process.

Benefits of Gold Loan

• Low interest rate on gold loan
• Flexible tenure
• Minimal documentation
• Quick processing
• Fast disbursement

Gold loan comes with the above benefits and more to provide you the much needed financial support in the time of crisis. In a way, you make the most of the gold lying in a corner of your locker!

Every investment must have a fair blend of safe, moderate and risky investments. While stocks and commodities can be considered as moderate to high risk investments, fixed deposits are safer investments. Needless to say, fixed deposits over a good amount of time have reigned the investment market as the most stable and safer mode of investment. This is the amount of money one deposits in a bank for a fixed period of time, and is also withdrawable after the time span is over.

This obviously does not mean that an investor loses his/her right to money in times of emergency. One can still withdraw the money but then a portion of an interest payable has to be waived off. Also, in certain cases, a penalty charge has to be paid in case of pre-mature withdrawal. Now, having taken into consideration all the pros and cons of investing in a fixed deposit, let us tell you what are the major benefits of investing in an FD, and why you should start investing in one today.

Assured return rates – Mutual funds are subjected to market fluctuations and risks, so it may happen that you invest a good amount of money in the stock market and end up getting lesser returns. This is because the rate of returns keeps varying. However, in case of a fixed deposit investment does not take away the guarantee of earning assured returns. FDs are not subjected to market risks.

Availing Loans against FDs – If you have a fixed deposit investment, you can get a loan against it in times of emergency. The rate of interest on the loan is usually 1-2% higher than the rates offered on the fixed deposits.

Save Taxes – If you are thinking of a tax-saving investment regime, you can start investing your money in a Tax Saver Fixed Deposit. This allows tax deduction under Section 80C of the Indian Income Tax Act, 1961. You can claim a maximum of Rs.1,50,000 by investing in a Tax Saver FD. However, a tax saver FD mandates you to invest your money for a lock-in period of five years, wherein pre-mature withdrawal in not allowed. But the good news is that, along with saving taxes you also earn assured returns.

Promotes Saving Habits – Since pre-mature withdrawal in case of a fixed deposit investment is penalized, you would not want to withdraw your money before maturity. So, this encourages your saving habits and keeps your money intact.

Easy withdrawal – In times of urgent financial crisis, you may want a lump sum amount of money. In these times, fixed deposits can be broken and withdrawn to cater to your financial emergencies. You shall be penalized for the same but then you always have a financial backing ready at hand.

Flexible investment – FDs can be created for a period ranging from one month to about 10 years. So, you have a lot of flexibility while investing in FDs.

Regular Income – Most FDs are compounded quarterly, so if you want you may also receive a regular income against your FDs.

The bottom line is to invest in a fixed deposit with a bank that offers you a good interest rate. Once you have made a choice, simply invest diligently and watch your money grow with time.

Since the summer season is in a full swing, you are bound to take occasional short trips to the beach. Honestly, who isn’t? In fact, most of us must be planning to take our cars on a long road trip as well.

While it is very common to maintain your car in the winter season, keeping it in the top-notch condition during the summer season is equally essential. The only way you can enjoy a long trip without facing any vehicle breakdown issues is by getting your car serviced beforehand.

To help you with this overwhelming task, we have put together a few essential car care tips for the summer season.

Coolant System

Keeping your cars cool during the summer season is very important. Hence, make sure that you are checking the level of coolant in your vehicle. Also, inspect the hoses and reservoirs carefully for any leaks and check the connection points and joints as well.

Wipers

In case, the region you reside in gives surprising showers during summers every once in a while, you should make sure that your wipers are in working condition. Worn out wipers tend to leave streaks on the windshield which might further affect your driving too. Thus, when you take your vehicle for servicing, enquire about the wipers as well.

Engine Belt

Your car’s engine belt gets loose over time and starts to make noises. Thus, while your car is in servicing, make sure that the engine belt has the right tension and is in good condition. If it is worn out, replace it right away!

Essential Fluids

It is important to inspect the oil, windshield-washer fluids, and power steering fluids on a regular basis. Monitoring these consumables and asking your mechanic to inspect your vehicle for the same is important for your vehicle’s health.

Tyres

Your car tires need to be monitored throughout the year. It is important to make sure that the pressure in all the wheels is equal. Look out for stones and nails stuck within the treads. Also, it is always wise to keep a spare tire in your car, especially during long summer trips.

Air Conditioner

If your car’s air conditioner has not been functioning properly, now is the time for you to get it serviced. Since it is summer time, the use of the air conditioner will be quite often. Getting your car serviced under professional supervision will ensure that all the leaks and other minor issues are fixed.

Sunshade and Dashboard

If you park your car in a parking lot that is usually exposed to the sun, then you might as well buy a windshield cover that helps in protecting the dashboard from the harmful UV rays. Also, it will keep the cabin cool. On the other hand, you can buy shades for the windows at the rear. Thus, ensuring that the rear seats along with the dashboard are well-protected from the summer heat.

Conclusion

The summer season is meant for long road trips with family and friends. Make sure that this year you are carrying all the essential items such as spare tire, emergency first-aid kit, snacks, and water bottles.

Get your vehicle properly serviced well in advance. Another essential requirement is to make sure that you have appropriate car insurance. If you own a car, it is mandatory to have motor vehicle insurance.

Your car insurance policy should be up-to-date and you need to have a valid driving license before you plan a road trip. Driving without a valid license and an inactive car insurance plan is nothing but a direct invitation to problems – which could also be legal in extreme cases.

With these tips, your car will surely be in top-notch condition throughout the journey.

If you are a day trader, you would know there is a wide range of equities to pick from, and you can choose virtually any kind of stock you desire. Hence, the first rule for intraday trading is to understand what to trade. It is critical to know the basics before money into stocks with reputed brokers such as Kotak Securities. Once you have made up your mind on the type of shares you need to invest in, the next step is to understand how you can profit from them.

Here are six factors you can consider before choosing stocks for intraday trading

1. Nature of business and its prospects – Scanning through past financial track records of the company that you are interested in investing can help in knowing the true nature of the business. You may also want to consider current policies and projects involved in the company that can act as value generators for the future. Based on the current industry outlook, you may want to make your final investment decisions.

Experts recommend looking into the long-term value of the stock rather than chasing stocks that display multi-bagger returns in a short time. Doing adequate research before undertaking intraday trading can ensure a wise decision. One of the critical intraday trading strategies involves checking and ensuring the valuation multiple of the company’s stock is still appealing and not a deviation compared to its own past or current valuation multiples.

2. Profit-generating business model – A prime factor to consider is to look into the uniqueness of the business model of the stock you are considering to invest. In addition, you may also want to find a stock based on minor cyclicality coupled with a broadened business base.

3. Generating yields – A solid understanding of the company’s top line, bottom line and debt load is imperative before investing in it. It can be a good idea to also go through the earning reports of the company that are issued every quarter and annually. In addition, consider looking into the long-term view of the market before making a decision.

4. Management quality – Getting a view on the management quality of the company is a must. If you are unable to get a good understanding of the management, look into tried and tested companies with a robust rather than purchasing stocks of companies that have unknown managements, mainly if the valuation is very high.

5. Debt to equity ratio – This is a critical ratio in understanding the amount of debt a company carries as against its shareholder figures. Typically, a low debt to equity ratio of the company in comparison to the industry average can be considered a substantial investment.

6. Valuation – A critical metric to understand if the stock is expensive, appealing or satisfactory is to assess its valuation. Organizations are calibrated against one another based on the valuation ratio to know if it is overvalued or undervalued. The typical ratio used in this regard is P/E (price/earnings). If you are considering picking a bank stock for intraday trading, you may want to use the P/B [Price-to-Book] ratio. On the other hand, a capital-intensive company can be valued using EV/EBITDA.

Conclusion

One of the best intraday trading techniques is to invest in stocks without paying attention to speculative information or rumors. Rushing to buy a stock based on market buzz without adequately looking into the company’s valuation can be a grave mistake. This is because once you execute the day trade, it cannot be reversed and hence, it can be advisable to let go of opportunities rather than burning your savings.