Car insurance is an insurance policy which helps an individual to claim the liability arise at the time of a sudden accident. Choosing the appropriate car insurance policy is vital. Previously it was a very tedious and lengthy paperwork process for buying online.

With the rapid change in advance electronic device and high – speed internet, it has been a very easy and time-saving process. To buy car insurance online you don’t have to visit the store. It can be done simply through the mobile device staying at home.

Buying car insurance online is secured and comfortable task. Most of the companies allow their customers to quote the insurance policy online.

Do Your Homework

It is important to know the requirements before buying the insurance policy. To buy car insurance online, you need to make sound research before making the decision. Analyze the coverage offered by the policy.

Seek for Comprehensive Coverage

The comprehensive car insurance policy covers the third party liability along with the damages caused to your car. It also protects your car against any accidental fire and thefts and other damages as per the selected plan.

Comparison

Online buying facilitates the decision making task. You can compare a number of a car insurance policy with the different insurer. Insurance company website holds in detail information about the different policy. So spending few time online can help you to choose the best plan for yourself.

Car Insurance Calculator

Car insurance calculator is an online tool which helps you to find out the price estimate of your insurance policy.

Know the right Insured Declared Value of your car

The IDV amount of your car is the maximum amount you can claim under an insurance policy. IDV is an amount you receive when your car gets stolen or suffer complete damage. A brand new car has a higher IDV as compared to the same model old car

Add-ons

Add-ons are the extra protection for your car which helps you out in any peril situation. You need to understand the things required and eventually opt for the same add-ons. Because add-ons have a cost which gets added to your insurance premium. Settle yourself with the add-ons as per your risk profile.

No Claim Bonus

No Claim Bonus [NCB] is the amount you earn during the renewal of your policy if you don’t claim your policy in the one-year period. Basically, it is like an award for you to drive safely throughout the year. You can receive a bonus of 50% at most.

Right Deductibles

Deductibles are of two types – Voluntary Deductibles and Compulsory Deductibles.

Compulsory deductible amount depends upon the cubic capacity of the car engine. While voluntary deductible is the amount you wish to pay at the time of claim settlement. It helps you to lower your car insurance premium. As you wish to share the repair cost during the claim, it lowers your car insurance premium.

Be Patient

Never rush to buy car insurance online. Compare car insurance plans offered by different insurance providers. Read the inclusions and exclusions which can be raised during the time of claim. Shortlist the insurance plans and go ahead with the car insurance which allows you the best coverage without affecting your pocket.

There was a time when a savings bank account was used to stash money with minimum benefits. The interest rates offered on them were so low that mid or small-sized accounts did not earn anything worth mentioning from the savings. All that changed in the last few years and, as a result, the high-yielding savings accounts have performed better than even the stock market last year. This had not happened in the last ten years.

When it comes to the stock market, a well-performing year can offer you more return than you can even dream of getting from a savings account. However, in 2018, the higher interest offered on the savings account managed to do something unthinkable. The annually yielded interest rates on your savings turned out to be better than how the stock market performed with your investments. This is surely a piece of great news for people who have always been little unsure about investing in stocks because of its volatile nature. The saving accounts are much safer and the chance of losing any money is practically zero.

If you are wondering how you can keep your money in a high-interest rate savings account then the answer is ‘online banks’. The online banking system is a newer concept and not everyone is aware of their facilities. You must understand that online banks require lower establishment expenses compared to physical banks. They also have less maintenance cost. Hence, it is possible for them to offer their customers a higher interest rate. The online banks pay a high-yielding interest rate, which can be way more than 10% or even 20% in some cases. This surely is good news for you if you trust the savings account for keeping your hard-earned money. Now, your money will grow faster with an online bank.

There are many other benefits of online banks. To start with, they do not require you to maintain any minimum balance. This is one of the major reasons why customers have started to turn to online banks. They offer their customers free ATM cards too. You can simply link your existing physical bank account to your online bank and transfer money to it whenever you require. The experts are predicting that the online savings accounts will outperform the physical accounts by an even higher margin by the end of this year. The saving account interest rate with online banks will secure your future with more financial gain. You can fight inflation better if your money grows faster and at a commendable rate.

Just imagine the possibilities you have with higher savings. You can use that money to invest in high-profit funds and get the most out of your savings.

There is a consistent increase in medical costs. The health insurance plan that you had purchased many years ago would not be adequate to provide for the current rise in medical costs. The reason behind the rise in medical cost is the advances in medical technology. It is now possible to cure various critical illnesses and diseases with the latest technology and equipment. Considering the present rate of medical inflation, the health insurance policy that you have today might be inadequate ten years from now. In fact, it might not even support half of the medical bills.

Assuming that the cost of a heart surgery is INR 3 lakh today, the same could cost around INR 15 lakh after ten years. With your present medical insurance plan, you would not be able to provide for the medication and illness at a later stage. You need a health insurance cover the most after you cross 50. With age, the number of illnesses and diseases increases. Moreover, the cost of treatment is also high.

If you are of the opinion that you will increase the health insurance cover as age, you are making a big mistake. With age, the health insurance company will have a higher premium amount. It might also reject the application if you are considered a high-risk individual based on your age, medical conditions, and lifestyle. This is why it is important to buy online health insurance with high coverage at the earliest.

You need to have a cover of minimum INR 10 lakh or above. You can work out the amount based on your age, medical history, and place of residence. Do not buy an insurance plan that has a minimum coverage because it will not serve the purpose. You might enjoy a low premium for the same. However, it will only increase your out of pocket expenses. The right amount will ensure that you are always covered in case of an illness or hospitalization.

You are buying a cover for the future, and hence, you need to consider inflation when deciding on your sum assured. If there is a history of critical diseases or illnesses in your family, you need to consider that aspect as well.

Medical inflation is increasing in India. Most medical insurance policies come with a waiting period for pre-existing conditions. Hence, it is best to go for the maximum amount available on your policy. This will ensure that the policy serves its objective, and if you have to go through the waiting period, you do not have to spend any money from your savings. With treatments becoming more sophisticated and healthcare costs on the rise, there is high medical inflation. This is why you need to ensure that you get a high coverage.

Your coverage should not be based on the premium amount you have to pay. Instead, you only need to consider your present health situation and then decide. With a high coverage, you will be to save a substantial amount in the long term and simultaneously avail of quality healthcare and treatment. Compare different health insurance plans online and then make a decision. The decision about your sum assured should not be made in haste, as it plays a significant role in the policy and your finances.

Having a savings account is imperative in recent times. Looking at the evolving patterns of consumerism in the economy, millennials are prone to spending, and sometimes even overspending, on a streak of materialistic temptations. So, to keep a tab on spending limits and save adequately for securing your future financial credibility, opening a savings account is deemed necessary!

A savings account helps in accumulating funds and gives you a financial backing in times of financial emergency. Let us look at some of the most important reasons of opening a savings account at the earliest.

• Unexpected Emergency – No one can foresee the future, but what one can do is to prepare for the future from this very moment. A savings account helps you to have a financial freedom in times of an unexpected financial emergency. Most importantly, it can keep you out of the burden of debts.
• Asset protection – Putting all your money in investments with higher market risks might cost you if there is a need for forced selling of your stocks and bonds. Having a savings account on the other hand helps you protect your capital in times of emergency. So, instead of eyeing investments with higher returns that come with higher risks, you can invest in a savings account.
• Grabbing opportunities – Having a savings account backs you with monetary support during times of need. Say, you happen to come across a great business opportunity, but you can only leverage your chances of working around it once you make an initial investment. A savings account can help you meet your immediate financial requirements without having to seek loans.
• Security – Your saved amount of money is protected by FDIC insurance. This means that even if the bank goes bankrupt or closes upon any unforeseen circumstance, the government would still have your savings released to you.
• Avoiding credit – A savings account helps you stay focused and achieve your goals and targets without having to borrow loans. Having a savings account ensures that you can pay for those unplanned bills right away!
• Scope of growth – Savings accounts can also help you make your money work for you. All you need to do is to open a high interest savings account. Your money would basically be growing over due course of time just by being there. Compare the savings account interest rates across banks and choose the one that offers you the highest rates of interest.

So, now that you are acquainted with all the right reasons to open a savings account without any further ado, it is time to understand how to take the first step. If you are a compulsive saver, then you are good to go!

But if you aren’t, it is better if you automate a portion of your earnings directly into your savings account. It also restricts you from spending enormously on things that probably might need at this very moment. The goal is to look at the bigger picture and start saving now!

The benefits of having a demat account are plenty. No wonder why an increasing number of people are opting to open a demat account. By having one, investors don’t have to worry about maintaining physical copies of their trading documents. For those who are unfamiliar with this concept, a demat account is used to hold stocks and securities electronically.It’s a convenient alternative with enhanced security features. So, customers don’t have to worry about obtaining counterfeit certificates. One of the main objectives of a demat account is to facilitate online trading and make all documents easily accessible.

You would be pleasantly surprised to know that your demat account is quite similar to your bank account. The only major difference is that a bank account contains money while a demat account holds securities like shares of a company, mutual funds, bonds or exchange-trades funds. It allows users to hold them in a dematerialised form instead of physical certificates.

Investors wishing to invest in stocks are mandatorily required to have a demat account. To open such an account, you need to pick a Depository Participant (DP). DPs are those institutions that facilitate contact between depositories and investors. There are a couple of depositories registered with SEBI – CDSL (Central Depository Services Limited) and NSDL (National Securities Depository Limited). An account that you maintain with a DP is called demat.

The terms and conditions, fees and other important criteria of your account will be determined by the DP who acts as a broker.

Now, let’s discuss some of the benefits associated with a demat account.

Lower risks

Physical securities are vulnerable to losses, thefts or damages. Additionally, investors need to be wary of fake securities or bad deliveries. All these risks can be completely eliminated by opting for a demat account.

Easy holding

Storing and maintaining physical certificates is certainly not an easy job. Monitoring their performance is an added responsibility. A demat account is a platform that allows users to conveniently hold and track all their investments in one place.

Odd lots

Buying and selling physical certificates is inconvenient and can only be done in specific quantities. The option of dealing with single security or odd lots was not available previously until the advent of demat accounts.

Reduced costs

There are several additional costs associated with physical certificates like handling charges, stamp duty and many other expenses. Thanks to demat accounts, investors don’t have to shell out extra money from their pockets.

Less time

The time required for executing a transaction has been significantly reduced due to elimination of paperwork. So, customers can make more purchases and sales of securities within a shorter time frame.

It’s safe to assume that majority of Indians in 2019 have a bank account. Thanks to technology, essential financial services are being made available even in the remotest parts of the country. This has made it possible for people to open demat account online as well. All you have to do is visit the Axis Direct website and follow the instructions to open demat account online and start trading today.

With the compulsion of third-party insurance for your two-wheeler, we are sure you are probably scurrying around last minute to do so. Covering your bike with two-wheeler insurance not only keeps you on the right track but also financially provides for you in times of mishaps. However, failure to comply with the rules of the Motor Vehicles Act, 1988, leads to hefty penalties.

So take a look at these procedures of a two-wheeler insurance third party procedures in order to fasten your purchase:

Why should you invest in a Third-party two wheeler insurance?

Typically, third-party insurance safeguards the riders from any kind of physical damage caused to the third party. However, it does not cover any damages either caused to you or your vehicle. Depending upon the insurance company, third party insurance is based on a majority of aspects that a customer should be aware of. Therefore, go through these factors for a better understanding of the insurance policy

1. Coverage
2. Premium
3. Vehicle
4. Engine capacity
5. City of registration

Apart from the only advantages of the liability, third-party two wheeler insurance provides its customers with multiple other benefits. These benefits allowed by third-party insurance ensure the right protection during the times of calamities. Go through these few of the most common benefits given by a majority of insurance companies

1. Offers coverage for the third party damages or injuries as well as for long term coverage for a period of 5 years.
2. If a personal accident cover is obtained, only then does it cover the disability or the death of a rider.
3. Includes low rate of premiums as compared to other insurance policies.
4. It is not only easy to buy but also requires a very little hassle of paperwork.

What is the process of renewal of Third-party insurance?

The best time for third party two wheeler insurance renewal is a day prior to the expiry date. It is your responsibility to keep a constant check on the expiry date. Keeping a tab on the actual date of expiry of your policy will eventually help you to prevent inspection charges. Additionally, it is also essential to run a check on rebates before renewing your policy. Hence, opt for two wheeler insurance online while renewing. Consider the following things before you opt for the renewal procedure:

1. Keep your ongoing policy handy for reference.
2. Use your debit card or net banking details for the renewal.
3. Make use of your certificate of registration of the insured vehicle.

What is the difference between Third-party insurance and comprehensive insurance?

When it comes to two-wheeler insurance, it comprises of two types of policies. While the first type is third-party insurance, the second type is comprehensive insurance. Both these policies are absolutely different in not only their approaches but also their meaning. Therefore, go through the differences between both of these policies in order to avoid confusion at the time of purchase

Now that you know everything before purchasing third-party insurance, when are you planning to invest? If you are skeptical about its process and the policies, then the best way is to compare multiple policies on the websites of the general insurance companies. It will provide you with a certain clarification about the availability of different policies or you can easily contact any expert for professional help.

Mutual funds are one of the most popular investments in India. They are considered as a less risky and highly flexible mode of investment as compared to equity shares. Mutual funds can help you to achieve long-term goals and save tax. Here is all you need to know about mutual funds.

What is a mutual fund?

A mutual fund is a financial instrument that collects funds from the investors and invests money on their behalf. This amount is invested in bonds, money market instruments, stocks, and other assets. A mutual fund is managed by an asset management company and your investment is managed by a fund manager.

Types of mutual fund

You have the option to choose from the various types of mutual funds. Every fund will have a fund manager who will make investment decisions. The fund manager will make allocations in different securities in the market. You can choose from debt, growth, hybrid, and balanced funds keeping your long-term goals in mind. The risk and return criteria of all the funds vary. It is advisable that you identify your long-term goals and investment purpose when you choose a fund. Compare the returns and then make a wise decision.

How to invest in mutual funds

Investing in mutual funds is a very simple process. Once you have set your long term and short-term investment goals, you need to consider your risk appetite and then choose the fund you want to invest in. You can use the mutual fund calculator to determine the amount of money you will be able to generate if you remain invested for a particular tenure. The minimum amount of investment you can make is INR 500 and there is no limit to the maximum amount. You will now have to decide if you want to make a lump sum investment or set up a Systematic Investment Plan. In an SIP, you will have to make a regular amount of investment over the tenure of the plan. It is easier than making a lump sum investment and it brings financial discipline in your life.

The next step is to buy mutual funds independently or you could seek the assistance of a professional for the same. The professionals will be able to explain the terms and conditions of the fund and will process the transaction on your behalf. You will be required to complete the Know Your Customer [KYC] verification for a transaction to be carried out successfully. Remain invested until the end of the tenure in order to generate higher returns.

The trick is to diversify your portfolio with different types of funds so that there is a low risk along with the possibility of earning high returns. When you choose a fund, you need to consider the risk and return associated with the same. You also need to review the portfolio from time to time in order to ensure that your fund is performing well.

Everyone loves travelling in order to explore new places, new things, new culture, new people, and so forth. However, when you’re in an unknown destination, the probability of something going wrong might be high. In order to cover you in times of exigencies, the insurance companies have introduced travel insurance for the betterment of all the travelers. So if you’re someone who is soon going to be off for a new adventure, then you surely require travel insurance in order to gain clarity.

Go through this guide on domestic travel insurance given below that will help you to figure out everything about it:

What is travel insurance?

Whether you’re travelling for business or leisure, travel insurance is a must for every kind of traveler. But can you guarantee your 100% safety when you’re on board? As uncertain as it may sound, risks involved while travelling are higher. While certain risks are inevitable, a majority of risks are covered by the insurance companies. Therefore, purchase a travel insurance plan since it not only offers financial assistance but also protects your loved ones when they are on their journey.

In order to safeguard the needs of every individual, travel insurance is divided into different categories. Under travel insurance, these categories are available for everyone right from an individual to the entire family. It is advisable to understand all the types of these categories accurately and then select the plan based on your requirement. Take a look at the types of travel insurance coverage mentioned below:

1. Single trip travel insurance plan
2. Multi-trip travel insurance plan
3. Asia travel insurance plan
4. Family floater travel insurance plan
5. Student travel insurance plan

What is the significance of travel insurance?

If you’re travelling either for a year or less than a year, the travel insurance policy is important for you. Since a majority of health insurance plans don’t cover the policyholder when he is travelling, it is advisable to invest in travel insurance. Travel insurance policy not only covers you in the case of physical injuries or damages but also provides coverage in times of unforeseen events like accidents, cancellation of trips, and so forth. Apart from that, it permits for other things as well. Take a look:

1. It provides coverage in times of medical emergencies
2. It provides coverage for the times when you desperately want to return home and leave your trip midway
3. It provides coverage in the case of theft of your luggage

What are the inclusions in the travel insurance plan?

In order to utilize the benefits of travel insurance to the fullest, it is important to understand what does your policy cover. For that, read the terms and conditions of the policy carefully in order to find the inclusions of the plan. While the inclusions typically depend upon the insurance companies, there are the most common ones used by every company. Therefore, keep these commonly used inclusions in mind before purchasing a travel insurance policy

1. Trip cancellation, curtailment, and interruption
2. Stolen or misplaced baggage
3. Accidents or death
4. Medical emergency
5. Loss or theft of any personal belongings
6. Travel delays due to weather conditions
7. Hijack

Now that you know everything about travel insurance plans, when are you purchasing one? Before selecting travel insurance either for your or your family, compare multiple policies as every insurance company provides different features and benefits in a policy. The further decision of selection, however, lies on you. Therefore, see to it that you invest in a travel insurance plan wisely in order to make the best use of it.