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Saturday, November 17, 2018

Review Your Insurance Plans with IndianMoney

Why do you need insurance planning? Is it necessary to have insurance? When to review insurance plans? Let us find all the answers in following sections.

So why insurance planning?

As per Indian Money review, an accident plan protects your income in case of permanent disability.
A life insurance plan meets living expenses of nominees in case of premature death.
Guarantees income for life with retirement plans.
Protects the location and equipment of the business with business insurance.
According to IndianMoney.com, you can protect home structure and contents with a home insurance plan.
Protects car or two-wheeler in case of damage in accidents or theft with car or two-wheeler insurance.
Helps meet costly hospitalization expenses with health insurance so that you have no complaints.

Review Your Insurance Plans with IndianMoney Bangalore

IndianMoney dot com advises you to review insurance with change in financial profile and life situations.

1. As per Indianmoney.com reviews, 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.

2. IndianMoney advises a health insurance plan even if you are covered under a company group insurance plan.

3. An increase in liabilities means more life insurance. Increase coverage under term life insurance if you have liabilities like a home loan.

4. If income/salary has increased, review life and health insurance needs. The sum assured must be in tune with current net worth.

5. Getting married means more life and health insurance. You have to avail joint life cover or purchase individual life insurance plans. Avail a family floater health insurance plan after getting married. After children further increase life insurance coverage. If spouse is not earning, it’s best to double life insurance coverage.

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Thursday, November 15, 2018

IndianMoney - Review Your Financial Plans with Indian Money

Financial planning is a process of meeting financial goals through proper money management. Financial goals could be short term like going on a vacation, mid-term like buying a car or long term like retirement or buying a house. Financial planning helps achieve strategic goals and objectives.

Take a look at financial planning thumb rules. One of the first rules of financial planning is Pay Yourself First. Save a part of monthly income before spending. As income rises make sure to save more. Follow the 50-20-30 rule. About 50% of your income should go for living expenses, 20% for savings for medium/long term goals and 30% for spending like travel and vacation.

Want to know more on financial planning? We at IndianMoney Review 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.

Why you should regularly review your financial plan?

Why do you go for a medical check-up at regular intervals? Isn’t it to stay in good health? In much the same way, the financial plan requires a regular review.

Set achievable goals: When setting financial goals it is very important to set achievable goals. Setting unachievable goals demoralizes you and it’s a setback to the financial plan. If you have set unachievable financial goals, review the financial plan. Review both the financial instruments you have invested and the investment. A simple example of financial plan review is if you have set a financial goal to retire at 55 and find the money insufficient, reset the retirement age at 60. Let’s say you had planned to buy a house for Rs 90 Lakhs. You find the investment insufficient? Then settle for a house of Rs 75 Lakhs.

Salary is hiked: A hike in salary calls for review of financial goals. A big salary hike means financial plan review. You might have got a windfall like EPF money or an inheritance. It’s time to revise investments and investment objectives. You can set new financial goals or allocate more money towards investments.

Set up an emergency fund: As your family grows you need an emergency fund. Keep at least 3 months of living expenses in the emergency fund if you are single. Make this 6 months if you are married.

Increase in number of dependents: If there is an increase in the number of dependents (say the birth of a child), review financial plan. You might need additional life or health insurance. You would have to set aside more money towards investments. Make sure you do Estate Planning by writing a WILL as dependents increase to avoid fights and controversy.

Change in the tax status: Let’s say you have changed your job and got a salary hike. This puts you in the higher tax slab. You might need to focus on tax planning to save more money.

Your risk tolerance and risk appetite have changed: If you have turned from a conservative investor to an aggressive investor, review financial plan. You might have to review the investment plan as you go for more aggressive investments.

What to consider in financial review?

IndianMoney.com Reviews advises you to update financial advisor on life changes: Your financial advisor must know your important milestones to make the right financial decision. If you are newly married, this calls for a financial plan review. Your financial advisor will draw up a new plan or reform the current financial plan.
IndianMoney.com advises you to check your investments: Check if investments are giving returns in line with the financial plan. If investments are not performing up to standard, then decide where to allocate the money. Asset allocation is very important in a financial plan.
Is your retirement on track: Healthy ROI (Return on Investment) and more allocation of money towards retirement helps retire early? Do financial review to check if investments are on track to achieve early retirement.
Interact with financial advisor: Your financial advisor knows a lot of people (has handled a lot of clients) with similar financial goals or who have been in similar situations. He is in a unique situation to help with financial and life goals.

Read More article: Review Your Financial Plans with Indian Money

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Wednesday, November 14, 2018

Before Purchasing Car Insurance Read This Review by Indianmoney.com

Car insurance protects you from a financial loss arising out of damage or theft of the car. As per Indian Money review, car insurance also covers for damage caused by a third party and is compulsory in India. Car insurance protects you and the car from financial liabilities, complaints, and legal liabilities which include damage to the vehicle in a collision, hospitalization for injuries, and injury/damage to a third party.

Types of Car Insurance

Third party liability covers you for damage and injury caused to a third party (unrelated party). This is both vehicle and property damage. According to IndianMoney.com reviews, third party liability is compulsory in India.

You can also opt for collision coverage where protection is given to your car. Coverage is for damage caused in a collision usually in an accident. However, as per Indian Money Bangalore, theft is not covered in collision coverage. Comprehensive car insurance includes own damage cover where you are compensated for damage to the car and bodily injury caused in an accident.

It is a comprehensive plan which covers damage to car, theft of the vehicle, a personal accident cover to protect you/driver and third party legal liability.Want to know more on Car Insurance? We at IndianMoney review will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. Please note that IndianMoney.com is not a seller of any financial products.

Before Purchasing Car Insurance Reviews Go Through This Review by Indianmoney.com

Compare Car Insurance Online

Indian Money Review Bangalore advises a comparison of car insurance plans online as you save money and also enjoy higher coverage without having any complaints.

You can save around 45-50% on car insurance plans and also get riders like engine protector, zero depreciation cover and others based on needs.

While buying car insurance online make sure to get comprehensive coverage for accidents, theft, fire, explosions, riots, lightning, and acts of terror, personal accident cover and natural calamities.

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Friday, November 9, 2018

Complaints on Indian Money Reviews, Financial Plans for Retirement Benefits

There's a popular saying, "Retirement is when you stop living at work and start working at living." Retirement is fun only if you have money to enjoy it. Otherwise, it can be a nightmare. How will you spend days after days without income? It's difficult to get a job in old age and why would you want to put in hard work, after you are 60?

Actually, it's really simple. You have to invest money when you are working, to enjoy retirement. There are plenty of investments for retirement, but you have to choose the right investment. An investment which meets your retirement goals is the right investment.

Want to know more on retirement planning? We at IndianMoney Complaints will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. Indian Money reviews are not a seller of any financial products. We only provide FREE financial advice / education to ensure that you are not mis-guided while buying any kind of financial products.

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Financial Plans for Retirement Benefits

Why must you plan for retirement? It's simple. Inflation, the general rise in the prices of goods and services each year, eats up most of what you earn. If you are struggling to pay bills today, how will you survive retirement?

1. Invest in NPS for retirement

National Pension Scheme popularly called NPS encourages you to save and invest across your working life for retirement. Let's say you invest in NPS at the age of 30 and stay invested till 60. NPS allows you to invest up to 50% in equity, giving you an excellent chance to get sufficient money at retirement.

NPS is very good if you want to save for retirement, but are not comfortable making investment decisions.

NPS offers you 2 choices:

1. Active choice: You invest up to a maximum of 50% in equities and the rest in Corporate Bonds and Government Securities.

2. Auto choice: If you are not comfortable making investment decisions, pick the auto choice. Allocation is made on the basis of a predetermined formula depending on your age. Investment is in a mix of equities, Corporate Bonds and Government Securities.

Withdrawal: as per Indian Money Company you can withdraw 60% of the accumulated amount on retirement at the age of 60. The remaining 40% must be compulsorily invested in an annuity plan. The annuity plan gives you pension after retirement.

NPS encourages you to save for retirement and get a regular income after retirement.

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Friday, November 2, 2018

Indian Money Mortgage Loan Interest rates, Eligibility - Reviews & Complaints

A mortgage loan is a type of loan where property/real estate is the collateral. It is pledged to borrow money. You/borrower have to enter into an agreement with the bank. As per Indian Money Review You get cash up front and then make payments over a period of time through EMIs. The bank/lender has possession of the original property documents till you repay the loan.

Want to know more on Loan against Property? We at IndianMoney Complaints 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.

Indian Money Mortgage Loan Interest rates, Eligibility & Calculator - Reviews & Complaints

Types of mortgage:

Simple mortgage:

In a simple mortgage, the mortgagee (This could be a bank/lender), does not enjoy possession of the property. The mortgagor (one who pledges the property), makes a legally binding agreement to repay the mortgage. The mortgagor gives the mortgagee the right to sell the property, to recover the dues.

English mortgage:

In this agreement, the mortgagor agrees to repay the mortgage money within a certain date, and then transfer the property to the mortgagee (bank/lender). The mortgagee agrees to retransfer the property back to the mortgagor once the dues (mortgage money), is repaid as per terms and conditions.

Usufructuary mortgage:

The mortgagor (borrower) gives possession of the property to the bank (mortgagee), until mortgage money is repaid. The mortgagee also receives rent/other benefits from the land. The mortgagee/bank agrees to appropriate the property in lieu of interest/payment of mortgage money.

Mortgage by deposit of title deeds:

The mortgagee (bank) provides documents of title of immovable property to the mortgagor with intent to create a security of the same.

Mortgage by conditional sale:

The mortgagor sells the property to the mortgagee with a condition that the sale will be absolute/permanent on a default. If the mortgage dues are paid, the sale is null and void and the mortgagee will transfer the property back to mortgagor.

Functioning of a mortgage loan:

The money you borrow on the mortgage is the principal. You have to pay back the principal amount on the mortgage each month. In addition you have to pay back interest on the loan.

Repayments depend on type of interest rate which may be fixed or floating rate. Fixed rates mean payments remain constant across loan tenure. Floating rates change with market rates.

Read more: Mortgage Loan Interest rates, Eligibility & Calculator

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Thursday, November 1, 2018

Why there are no complaints & Reviews against Indian Money Life Insurance plans?

Many do not understand importance & power of getting proper insurance. For instance, life insurance is necessary for financially protecting your family. It is worth mentioning here that most people in our country are underinsured. What it means is that they get life insurance, but sum they assure is not adequate either for them or their family. Many people do not explore available life insurance products.

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

How to Select Best Life Insurance Plan According To Income?

Many citizens avail endowment life insurance, as they think it gives higher tax benefits compared to a term life insurance policy. Take the example of Roshan, who is a 30 year old IT employee earning Rs 7,00,000 a year. He doesn’t know which life insurance to avail, endowment or term insurance?

Let us help him with the premiums:

If he opts for an endowment policy with a sum assured of Rs 10, 00,000 and a policy term of 15 years, he will have to pay an annual premium of Rs 70,000. On maturity, he will get a sum assured of Rs 10, 00,000 + Bonus.
Guaranteed Bonus: This is a percentage of the sum assured for the first few years of the policy, say 3.5% for 5 years.
Reversionary Bonus: This is paid out of the profits of the insurance company. No reversionary bonus if there are no profits.
Terminal Bonus: This is a loyalty bonus paid in the final year of the endowment plan.
If he opts for a sum assured of Rs 1 Crore in a term life insurance plan for a term of 30 years, he will have to pay an annual premium of Rs 12,000. If he dies within the policy term, his family will get Rs 1 Crore in death benefits. If he survives the term, the insurer will not pay any amount.

Availing an endowment plan does seem wise. In reality, it isn’t. Roshan will pay high premiums for a low sum assured on the endowment plan. Though he’ll get the sum assured on maturity, it is not sufficient to cover his family. If something untoward happens to him within policy tenure, how much will his family get from the endowment policy?

Learn how to select the best life insurance plan according to income:

Don’t blindly avail a life insurance plan. Do your research. Decide on an appropriate sum assured that goes with your needs. You can arrive at this figure by calculating daily expenses and outstanding financial liabilities (debts). Do consider children’s education and wedding expenses, desired retirement corpus, etc.

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