Thursday, February 6, 2020
When a company receives a customer complaint, they should consider it as constructive feedback and handle it with the right attitude. Unfortunately, many businesses think handling customer complaints is a frustrating process and tend to ignore them. Doing so has a negative impact on the business.
Complaints against brands are very common and happen each day. Complaints are usually posted by customers who are not happy with the products or services offered by the company. Even though companies try hard to reduce consumer complaints and keep customers happy, sometimes things are out of their control.
Customers are the stakeholders of a business, so it’s very important to keep them happy. If a company has a lot of unhappy customers, it has a negative effect on the business. If a customer is unhappy with the services or the products, they will not keep quiet and propagate this to the whole World. If a business keeps customers happy, this is free marketing for them.
Whenever companies receive consumer complaints, they should ask consumers to be part of the solution, and should not view them as part of the problem. We will now discuss how companies can handle consumer complaints effectively.
React to the complaint immediately
If companies receive complaints from customers, they must respond immediately. Complaints can be received via social media, mobile, email or through a complaints portal. If complaints can’t be resolved immediately, customers must be kept informed that the issue is being looked into and will be resolved soon.
Be calm and handle the issue
As Per Indian Money Review In most cases, customers who post complaints would be angry and speak to customers care executives, rudely. The customers care executives must never lose their cool and listen patiently to the complainant. Yelling back at the customers will not help
Collect the required details
Once the customer is done vis-a-vis concerns, the customer care executive should collect all the necessary details and understand what’s the issue. He must build a rapport with the customer.
Resolve the issue as soon as possible
After the requisite information is collected, the company must take the necessary steps to resolve the issue as soon as possible. If the complaint is resolved quickly, the customer will be happy and will come back again and again.
To handle customer complaints effectively, the company must hire smart personnel who can speak to the customer in a polite and caring manner.
Friday, January 31, 2020
Investing is all about accumulating wealth over time. There are different types of investments. The return on investment varies across products. Investment returns can be market-linked or fixed.
Equity investment means money is invested in a company by purchasing the shares of that company. As Per Indian money Review Equity investing is often considered as gambling because of the nature of operations. Return on investment is high, but involves a risk factor. Returns are dependent on market dynamics. It is an ideal investment to earn higher returns over a short period of time.
Important Things to Know Before Investing in Equity Funds
Uncertainty is the underlying feature of equity investments. Equity investing means investing in the future of a business. There is no defined rule to decide which business would succeed or fail. This means, you don’t know beforehand how your investment will perform in the future. This makes it scary, thrilling and risky at the same time.
Stories of great investors might give you the misconception that stock markets will pay you millions in the future if you buy cheap stocks now. But this is not true. Only an investor will know the real risk involved. Key point to remember is that nobody pays you for doing nothing.
Picking stocks is not easy. Many factors influence the life of a stock. Some factors play a significant role while others do not. Deciding which factor to focus on is not an easy game. Experienced investors will have the knowledge to judge which stocks to look for based on the signs. However this cannot be 100% true.
Decision to buy a particular stock is tough. There are several 100 stocks in the national and international market, and nobody can predict which one out of them will turn out to be a multi bagger. In the formal investment set up, fund managers write down the reason for choosing a stock. This helps compare the real success of a stock. Different investors have different motives. For a short time investor, time plays a major role whereas for a value investor it is the margin of safety that matters. All this contributes to the decision of buying a stock
Analysis of a stock requires expertise and knowledge in the stock market or related educational course. Ordinary investors lack this. Mutual funds hire brokers who in turn hire and pay qualified employees for databases to track stocks, sell reports and carry out research. An ordinary investor must utilize publicly available information and do extensive homework.
Equity stocks involve risk. To outlive this risk factor, diversify your portfolio. Build a portfolio and keep track of what it holds and how much.
Success in equity depends not only on your selection of stocks, but also on your assumptions. If you recognize a stock in which you invested is not performing up to your expectations, sell the stock and do no erode your capital. Do not hang on to a stock with false expectations.
Conclusion: Equity is an effective method of investing. If you are of the opinion that individual investing is risky, invest in equity mutual funds. They are less risky. It gives high returns over a short period of time. However, keep the risk factors involved in mind.
Wednesday, January 22, 2020
IndianMoney.com review, is offering a group term insurance plan in association with Max Life. This insurance plan comes with a myriad of benefits such as paperless transactions, one-time premium, and even no medical test for prospects with income below Rs 3 lakh.
C S Sudheer, Founder, IndianMoney Group said, “Insurance reach in India stands low owing to the dearth of financial literacy. Affordability is the key which has to be addressed at the time of bringing the uninsured segment within the purview of financial inclusion. With Indian Money Review launching this group term plan, we will bring the majority population within the ambit of financial inclusion”
Speaking on the partnership, V. Viswanand, Deputy Managing Director, Max Life said, “There is a tremendous scope to increase the life insurance penetration in India. Through this partnership we aim to make formal financial services and specifically life insurance more accessible to a larger segment of the population, thereby increasing the financial protection of the country”.
In association with Max Life, Indian Money dot com review will be offering group term insurance to its existing customer base of more than 5 million on a voluntary basis. The cover would range from Rs10 lakh to Rs20 lakh. Term of the insurance cover for members will be of one year from the Effective Date of Coverage (EDC) as mentioned in the Certificate of Insurance. People aged between 18 to 45 will be covered under this policy.
Thursday, January 9, 2020
Insurance planning is a part of financial planning. It helps you grow and protect wealth. Choose the insurance plan which best suits needs and make sure you are covered for all eventualities. Life insurance, health, car and home insurance are crucial to protect life and costly assets.
Different types of life insurance plans
Term life insurance plans: This is pure risk cover with no survival benefit. It helps transfer wealth to nominees on an unexpected demise. You pay a premium for a sum assured. On an unexpected demise within the term of the plan, death benefits are paid to the nominee.
Endowment life insurance plans: An endowment plan offers the twin benefits of insurance and savings. It helps save over a period of time and on surviving the tenure of the plan, you get sum assured + bonus. On death within tenure, sum assured + accrued bonus is paid to nominees.
Money back plans: It’s a type of endowment plan. You get a percentage of sums assured at regular intervals instead of a lump sum at maturity. Regular intervals can be tailored to meet important milestones.
Ulips: Unit Linked Insurance Plans also called Ulips offers the twin-benefits of insurance and investment. Part of the premiums is assigned for mortality cover and the rest is invested in equity, debt or a combination of both depending on the type of Ulip.
Whole life insurance: It provides cover across the life of the insured or up to 100 years. The sum assured is decided at the time of availing the policy and is paid on death of the policy holder along with bonuses.
Retirement plans: Insurers sell annuity plans. An annuity plan protects from the risk of outliving income. An annuity makes a fixed stream of payments helping retirees get money in retirement. If you want payments immediately opt for immediate annuity plans. If you want pension payments after a specified time, opt for deferred annuity plans
Review Your Insurance Plans with Indian Money
IndianMoney.com Review advises you to review insurance with change in financial goals and life situations.
If assets have increased (you have a new car or house) avail more insurance. Life insurance helps in wealth transfer. You need life insurance across working life. You don’t need life insurance after 60 as you have net worth to tide over most crises.
Indian Money Bangalore advises a health insurance plan even if you are covered under a Company group insurance plan.
An increase in liabilities means more life insurance. Increase coverage under term life insurance if you have liabilities like a home loan
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Friday, January 3, 2020
Insurance basically means protection. It provides protection against the loss of an asset or human life. According to the IndianMoney review, insurance planning is an important part of financial planning.
With the advent of technology, things are not the same. Today, people use internet for everything, be it to find information or to make essential purchases. There are a number of things which can be done online, like buying groceries to insurance plans. Indian Money reviews say that people prefer doing most things online, rather than offline. Gone are the days where insurance policies were sold only by insurance agents. Many insurance companies sell insurance online and a lot of people prefer making the purchase, as it is cheaper when compared to purchasing insurance offline
IndianMoney dot com review says that, while buying insurance online has many advantages, it also has drawbacks. In this article, we will discuss the various pros and cons of buying insurance online.
What is an Insurance Plan?
Insurance basically means protection. It provides protection against the loss of an asset or human life. While home insurance provides protection against the structure of your home, term life insurance protects your family in case of an unexpected demise. According to the Indian Money review Bangalore, insurance planning is an important part of financial planning.
IndianMoney Review on Pros and Cons of Buying Insurance Online
Pros of Buying Insurance Online
Ease and convenience
You can buy insurance policies online at the convenience of home, office or even while traveling. Many insurance companies have chat bots which suggest insurance policies on the basis of needs.
All the details of the policy are documented and you will have enough time to go through and choose the best. In the case of online insurance, you will be filling in all personal information yourself. So, there will be fewer chances of errors.
To buy an insurance policy online, all you have to do is visit the official website of the insurance company, provide the required details and make payment, online.
Buying an insurance policy online can help save a lot of money as the premium of online insurance policies is low, when compared to policies bought offline. Usually, many insurance companies offer online policies at around 30-40% discount. This is mainly because in the case of online insurance, there are no intermediaries or agents between the insurance company and customers.
Cons of Buying Insurance Online
Difficulty in understanding the product
While buying an insurance policy online, most people may not completely understand the product as there will be certain terms which are not very clear. Due to this lack of transparency, many people end up buying the policy based only on the premiums and the insurance cover against the premium, ignoring various other clauses which are also very important.
Non-availability of personal services
While buying an insurance policy online, you will be directly interacting with the insurance company and there will be no agent to assist on claim settlement, filling up proposal form and so on.
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Tuesday, December 24, 2019
Term life insurances are pure protection plans that come with no maturity benefit. We all know the importance of a term life insurance and how it helps us to secure the lives of our dependents. It is the simplest and the most effective tool to secure your family at affordable premium rates.
Even if you have accumulated a large sum of money, a critical illness or an accident is enough to destabilize your finances. Buying a term life insurance not only shields your dependents in case of your death but also provides coverage during a critical illness or an accident and covers the loss of income.
Want to know more on Term Insurance We at IndianMoney.com Review will make it easy for you.
4 Factors to Consider While Buying Term Insurance
Factors to Consider While Purchasing a Term Plan
As you are spoilt for choices, you must consider certain important factors while selecting a suitable term plan. Here are a few important factors you must keep in mind while purchasing a term insurance plan
According to Indian money Review Bangalore while purchasing the term plan the most critical step is to calculate the coverage amount. The coverage amount is the sum that your dependents will receive in the event of your death. As per the experts, the sum assured of your term insurance policy should be at least 8 to 10 times your annual income.
To calculate the amount of coverage you require, you must access factors like your age, liabilities, monthly expenses, lifestyle expense, and financial requirements of the family in future, your debts and inflation. If you have any loans, then the payout should be such that it will help your family meet their financial requirements as well as repay the debt. You can take the help of the human life calculator to understand the required coverage amount.
The main objective of purchasing a term plan is to leave your dependents a considerable sum of money. The money paid to the beneficiary is meant to replace the income of the life assured in case of his or her unfortunate demise.
It is important to buy term insurance early to gain maximum coverage. As such the age of entry is an important factor for deciding the coverage period. If you buy term insurance at 25 years then you can avail a maximum coverage of up to 65 years. But if you purchase a term plans at 45 or 55 years then the coverage period becomes comparatively lesser.
Therefore, life insurance must be availed for your entire service period. You can even opt for a longer coverage period if you intend to work beyond your retirement years. Buying term insurance at a young age is beneficial as you can enjoy longer coverage tenure at lower insurance premium. If you purchase a plan in your 50s then you will have to spend a good amount on the premiums.
Claim Settlement Ratio of the Insurance Company
The claim settlement ratio is one of the key factors buyers must consider while purchasing a term insurance plan. The claim settlement ratio refers to the percentage of claims approved by the insurer divided by the total number of claims it has received. This ratio indicates the number of claims the company has settled. It becomes an important point while deciding which insurance company should be considered while purchasing the policy.
Riders are a provision that adds benefits to the basic insurance policy. You can choose riders to modify your base insurance policy to enhance protection. There are several riders offered by the insurers that allow policyholders to make the necessary changes.
Have a complaint against any company? IndianMoney.com complaint portal can help you resolve the issue. If you want to post a review on any company you can post it on Indian money Dot com review and complaint portal.
Wednesday, December 18, 2019
Are you planning for your New Year resolutions? Apart from planning for your favourite resolutions, like losing weight and travelling more, it is important to make some financial resolutions as well.
Want to know more about Financial Planning we a t IndianMoney.com Review will make it easy for you. IndianMoney Review Bangalore is not a seller of any financial products. We only provide FREE financial advice/education to any kind of financial product.
Top 5 Financial Resolutions for New Year 2020
Setting up realistic and measurable goals for your finances is the first step towards achieving them. Here are 5-financial tips that can help you start 2020 on the right note
Save More for Bigger dreams
If you want to start your new year in the right direction then the first step you must take is to save for your bigger dreams. Savings for bigger dreams can be anything ranging from saving money for pursuing a course, international vacation, starting a retirement account or saving for a home down payment. Whatever it is, you must know exactly why you are saving for.
Once you know your dreams and how much money you need to fulfil it, you can proceed with your savings plan. If you want to hit a bigger target then divide the money you need by the time you have at hand. For example, if you need Rs. 10 Lakhs for you home-down payment then first divide the amount you need to save each year.
Next, you need a recurring deposit account to start saving the money. A recurring deposit account allows you to grow your money through compounding and gives your goal an extra boost. Since it comes with a lock-in period, you cannot spend it even if you feel tempted. Thus you can save money regularly to give your goal the required momentum.
Focus on the overall investment mix: review your asset allocation i.e. the overall mix of stocks, bonds and cash in your portfolio. Make sure your investment portfolio is in sync with your long-term goals, risk-bearing capacity and time frame.
Diversification across various asset classes: diversification will allow you to reduce the risk factor while helping you to reach your goals. Consider other investments types like mutual funds or ETFs if they align with your goals.
Consider the amount of taxes you pay: you may shift to a tax-efficient investment if you are paying a good amount of your interest income as taxes. Some of the investment options that come with great tax benefits are retirement planning accounts, municipal bonds and ETFs.
Switch towards Automation:
One of the best financial resolutions for individuals who forget their bills on time is automating their savings or salary account. Through automation, you permit your bank account to make your monthly payments on a specified date to the insurer or a loan account. Automating your account will help you pay your credit card bills and loan EMIs on time thus saving you from negatively impacting your credit score. If you have previously missed your insurance payment then automating your account can save you from missing your payments.
Stick to the above 4 Financial Resolutions:
Once you have an investment plan in place, make sure you follow it. Revisit your plan every month and check your progress. Revising your plan will allow you to remain focused and you can achieve your goals easily over time.