Indian Money CEO Reviews Main Benefits and Features of Business Insurance

Indian Money CEO Reviews Main Benefits and Features of Business Insurance

If you want to have peace of mind that your business will be protected from financial losses then taking business insurance will be the right thing to do. Indian Money CEO, C S Sudheer reviews all the aspects you need to check when getting business insurance.

Different Types of Business Insurance, Their Features and Benefits

Business Insurance - Types

According to Indian Money review of business insurances, there are basically six types of business insurance such as:

1.       Business interruption insurance: This covers loss of income that your business suffers during natural disasters.

2.       Worker’s compensation insurance: To protect your business from having to pay for expenses in case employees are injured at the workplace.

3.       Professional liability insurance:  This insurance focuses on protecting a business from costs that arise because of errors and negligence committed by a business.

4.       Product liability insurance:  As per IndianMoney.com Bangalore, if you have a manufacturing business then this type of insurance can protect you from claims that arise because of injury or damage your products cause.

5.       Business property insurance: Indian Money reviews business property insurance which proves to be useful in protecting physical assets of a business.

6.       Group health insurance: As the name suggests, this insurance provides healthcare benefits to workers. Moreover, they also offer tax benefits to your organization.

Features of Business Insurance

1.       This type of insurance protects your business from different types of lawsuits.

2.       This insurance also covers for losses resulting because of errors and negligence.

Benefits of Business Insurance

IndianMoney.com reviews few of the main benefits of taking business insurance:

·         Business insurance proves to be helpful in covering losses in case there is a business interruption due to varied reasons.

·         If there is a natural disaster then this type of insurance helps in protecting your business from financial losses.

·         Your business gets more credibility when it is insured.

·         If there is employee unrest then this insurance ensures there is no loss of income.

Want to know more on Business Insurance? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products.

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Indian money complaints - Chat bots In Financial Services

Indian money complaints - Chat bots In Financial Services

The buzzword in the World of Financial Services is the chatbot. What is this chatbot? A chatbot is a computer program designed to stimulate conversation with a human user over the internet. It mimics a human conservation which includes text and spoken language using artificial intelligence techniques. What’s great about the chatbot is it learns from past interactions and becomes intelligent with time.

Chatbots have wide applications in customer support where they address customer queries, insurance where they explain risk and various insurance products and also financial services like banking where they help customers avail banking products.

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Chatbots In Financial Services

1. Chatbots for banks in India

Chatbots are making their mark across the Indian Banking Industry. Many top private banks in IIndia areusing AI-powered chatbots and voicebots to enhance the customer feel.

So, what are the applications of chatbots in the banking industry? Banks are using chatbots to offer customers personalized services, to answer customer queries and give customers an idea on the various banking products.

Many citizens in India have adopted mobile banking and this is where chatbots play a large role. Chatbots help banks streamline communications, promote interactions and widen the customer experience. Simply speaking Chatbots are your 24*7 Personal Banking Assistant.

A chatbot helps with banking related queries and answers them anywhere, anytime. There’s no need to wait on a call or search online. With the services of a chatbot, you can send and transfer money, pay your bills, get the mini-bank statement, check bank balance and take a look at all the recent transactions. Chatbots also help you locate bank branches and ATMs.

There are chatbots at banks which can answer questions like interest rates on home loans, interest rates on loans and any generic question on banking.

With growing popularity of mobile apps can chatbots be far behind? Some of the famous chatbots are Yes Banks: Yes robot, HDFC Banks OnChat, ICICI Banks: iPal and SBI’s chatbot called SBI Intelligent Assistant.

SEE ALSO: Basics of Financial Planning

2.  Chatbots for insurers in India

Insurers have a new friend and it’s called the chatbot. If your insurer responds to your queries in seconds and you are surprised, blame it all on the chatbot.

Many of the top insurers in India are investing in chatbots. Insurers are using chatbots for customer support and sales. So, how do you benefit from chatbots in insurance?

Well for one, there’s faster customer service. If you write to the insurer asking for a copy of policy documents, an email bot responds in an instant. You can easily get queries answered through chatbots of top insurers. There’s more….The chatbot helps to register claims, check the status of life insurance policies, check the claim status, and locate the branch of an insurer, a network hospital or even a workshop….

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Indian Money Review - 5 Tips to Help You Use Your Credit Card Properly

If you want to make best use of your credit card then the tips we will be sharing in the following sections will definitely help you. So, let us find out what all you need to do and not to do while using a credit card in this Indian Money review.

Tips on How to Properly Use a Credit Card

Tip #1: Select the Right Card

During Indian Money Review it was noticed that the best card is one which matches your spending needs. Additionally, you need to choose one that offers maximum benefits. For instance, if you travel frequently then a credit card that offers features like lounge access, hotel vouchers or air miles will be right option for you.

Tip #2: Monitor Your Spends

As per IndianMoney.com, You should only spend up to that limit which you will be able to repay. If you don’t then it is likely that you will fall into the dreaded debt trap.

You will be struggling with your repayments after overspending and as such, it will be important to avoid this type of thing from happening.

Tip #3: Don’t Make Minimum Payments

Paying minimum balance due is never the right thing to do since it will attract interest at a high rate and increase the debt burden you are bearing.

Tip #4: Credit Utilization Ratio

According to Indian Money review, you need to make sure that the credit utilization ratio remains under 40%. This ratio refers to ratio between total credit limit used compared to your available credit limit.

If you break this level then it will have a negative impact over your credit score and reduce it. In such situation, your chances of getting a loan will also get affected.

Tip #5: Limit Number of Cards

As per C S Sudheer Indian Money, you should ideally have not more than 3 cards. If there are more cards then you will feel like spending more and you will be left money to invest and save.

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Indian Money Review of Reasons Why Insurance Providers Do Not Cover Mental Illnesses

Many of the insurance providers are not ready to insure problems such as mental illnesses. What is the reason behind it? Let us explore these details in the following section in this Indian Money Review of health insurance.

Lack of Mental Illness Insurance and Reasons Behind it

In-patient Treatment | Ignorance about Mental Illness

Reason #1: In-patient Treatment

According to IndianMoney.com, in any type of health insurance, the focus is on in-patient treatment and the consequent reimbursement of expenditure on hospitalization.

In case of mental illness, the scenario is quite different since the treatment is given in outpatient mode and the patient does not have to remain in hospital. This one of the primary reasons insurance providers are reluctant to cover mental illnesses.

Reason #2: Ignorance about Mental Illness

Indian Money review Bangalore of health insurances found that a bulk of insurers do not provide coverage for mental illnesses in the form of bodily injury (accidental).

Moreover, people believe that if they try to disclose this type of illness in their proposal form then it is likely that the insurance company will not be agreeing to insure their other physical ailments.

Additionally, as per Indian Money CEO, C S Sudheer, there is a strong stigma about mental illnesses in the country. Most people avoid disclosing information about their mental illness because of the fear that their friends and relatives will be laughing at their situation or may well take advantage of their condition.

What is the solution for this problem?

According to IndianMoney review, few things which we need to do are:

1.       We need to generate awareness about mental illnesses as well as debunk the myths surrounding such illnesses.

2.       People need to talk about mental illnesses in open forums so that people become more aware of the problem and its solutions.

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Indian Money Review of Aspects to Check While Buying a Health Insurance for Parents

There are different details to be checked when selecting a health insurance for your parents. Let us go through details of aspects you must check in this Indian Money review of health insurance plans.

Health Insurance for Parents

Age Limit | Pre-existing Illness | Co-payment

Factor #1: Age Limit

Select a plan where entry is allowed up to 60 years and make sure the plan provides guaranteed and lifetime renewability. This is due to the fact that many insurance companies do not allow renewal of a plan after a specific age limit.

Here, it is important to keep note of the fact that as per IRDA guidelines, a senior citizen can take a health insurance up to the age of 65.

Factor #2: Pre-existing Illness

According to C S Sudheer, Indian Money review Bangalore CEO, you must ensure that the plan you are selecting will be covering critical illnesses and pre-existing disorders.

Additionally, you need to choose a health insurance in which waiting period for pre-existing diseases is lowest.

Factor #3: Co-payment

Only few companies agree on insuring senior citizens if no one is selected for co-payment. Co-payment refers to mode of payment where it is necessary for insured to pay specific amount out of the claimed amount.

Some of the insurers make it compulsory for senior citizens to opt-in for co-payment if the person is above a specific age. You need to keep note of the fact that if a plan is selected with co-payment then the premium stays low.

According to Indian Money review of health insurance plans, one thing you should keep note of is that avoid plans where co-payment amount is very high since in such situation you will have to bear a high cost when a claim occurs.

Your parents need health insurance and it’s your duty to choose health insurance for your senior citizen parents. Want to know more on Health Insurance Plans? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.

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IndianMoney Review - What is ELSS and What to Consider When Investing in ELSS?

If you are wondering what ELSS stands for, then it refers to Equity Linked Savings Schemes. These are considered diversified funds which are primarily invested in equity related investments. The good thing ELSS is that here investment is made in companies that have strong business model and a very good growth potential.

Let us look at Indian Money review of aspects you need to check before making an investment in ELSS.

IndianMoney.com Review of ELSS

Many people get scared when they hear that investment will be made in equities. But, on the contrary, you get the assurance of better returns when you make investments for a longer period of time.

Our focus here will be on analyzing few things that you need to keep note of while investing in ELSS.

Types of ELSS

As per Indian Money CEO, C S Sudheer, there are two types of ELSS, one is known as dividend funds and the other is called growth funds.

Investment Method

You can make an investment in two ways; as a lump sum amount or through SIP where fixed amount is invested on a monthly basis. This way you get the advantage of rupee cost averaging.

Lock-in Period

As an investor you need to be aware of the fact that there is a lock in time period of 3 years for this type of investment. However, the good thing is that ELSS has shortest lock in since PPF has a 15 year lock-in and NSC has 5 years lock in period.

Additionally, if you are able to hold the investment for seven to ten years then you can expect better returns.

NAV Fluctuations

You need to be aware of the fact that investment in equity funds is always risky and a fluctuation in Net Asset Value (or NAV) is always a possibility. Thus, the best thing to do is to make a long term investment.

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Indian Money Review -How high earning individuals can reduce their tax burden?

Saving taxes is really a serious concern for high earning individuals. So, how they can reduce their tax burden? Let us look into some useful tips provided by Indian Money CEO, C S Sudheer.

How high earning individuals can reduce tax burden?

Donations and Charity

By making donations, you will be able to support a good cause and at the same time get tax deductions. When you make a donation to any relief fund or charitable institution then you will be saving taxes under Section 80G.

Similarly, when you make a donation for any rural development work or for scientific research project then such donation entitles you to claim deductions under Section 80GGA.

Capital Gains

According to IndianMoney.com Review, investment in capital gains bonds turns out to be the right option for high earning individuals.

The reason is that, when capital assets are sold and capital gains arise out of it, those gains are tax free if the gains are invested in capital gain bonds. Another good thing is that, by making an investment in these capital gain bonds you will be able to save as much as fifty lakhs every year.

Short Term Trading

If you fall in the category of high earning individuals then as per Indian Money review Bangalore it will be important for you to stay away from short term trading. The reason is that capital gains of short term are usually taxable at 15% rate.

Give a Gift

If the value of a gift is higher than Rs.50, 000/- in year then only it is taxed otherwise not. But, according to Indian Money Bangalore, this rule will not be applicable if the gift is given to following people:

1.       Spouse

2.       Parent’s siblings

3.       Parents

4.       Siblings of your spouse

5.       Your siblings

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Indian Money Review of 4 Popular Investment Options

Indian Money Review of 4 Popular Investment Options

If you want to gain financial freedom then making the right investments will be quite important. As such, let us look at some of the popular investment options you can select from and maximize returns you are able to earn from your investments.

IndianMoney.com Review of Popular Investment Options

ULIPS | NPS | PPF | Stocks

ULIPs or Unit Linked Insurance Plans

According to Indian Money CEO, good thing about ULIP is that they offer investment benefits along with risk coverage.

When you purchase a ULIP, it gives you the flexibility of allocating investments in various asset classes. Moreover, it is possible to make an investment as per your risk tolerance level.

NPS or National Pension Scheme

Started by government, it is a type of savings scheme for retirement and its goal is promoting systematic savings. As an investor, you have two options to select from, one is auto choice and the other is active choice. Indianmoney Company reviews.

 Active Choice: Here, 50% of the investment is made in equity products and the balance amount is invested in corporate and government bonds.

1. Auto Choice: As per Indian Money C S Sudheer, in auto choice, investment comprises of a mix of government and corporate bonds. The mix of investment is decided according to age of the investor.

PPF or Public Provident Fund

Indian Money Bangalore advices people to invest in PPF since you get tax benefits by investing money in the same under Section 80C. Additionally, you get the assurance of earning high interest rate on this type of investment.

Stocks

IndianMoney review of investment options will remain incomplete if we do not mention something about stocks. By purchasing stocks, you get ownership rights in a company as well as profit share. They are risky but if properly managed, they provide good returns.

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