Do you think your life insurance premium is draining all your savings every month? Do you end up regretting in this investment? Have you found some other better investment that this one where a lump sum amount gets deducted as soon as your salary gets credited? To answer those let us delve deep into the Life Insurance functionalities. What is life insurance? A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death. Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time, while permanent insurance, such as whole
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Investing is a smart option. Infact THE option to get yourself rich when you grow up! Investment can be in the form of company stocks, mutual funds, and real estate; just to name a few. These are all alternatives for adults. But how can teenagers and, young adults invest their money for a better future for themselves? We are here to tell you how. Teenagers and young adults, by investing their money in something worthwhile make it easy to become richer in a shorter span of time. It’s the smart thing to do in this economically unstable world which is the scenario today. The Plan: First things first, you must have a strategic plan. Planning is of paramount importance before making any investment. There are plenty of people to
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The advancement of technology has immensely affected the global investment market in the last forty years. While the progression of technology was slower in the early part, globalization soon followed and technological interventions in the investment market grew at a faster rate. Those born in the eighties and nineties are the ones strangely witnessed this strong change and gradually developed certain habits which combined both their inclinations towards the age-old financial practices and their new-age learning. With time this gave way to certain financial trends which are frightening yet is the realistic picture of how the current generation thinks and does to their money. 1. Lack of Investment in Retirement Schemes More than 40 percent of the youth currently working in the mainstream financial sector are
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People end up paying hefty amounts as premium for life insurance & mediclaims for financial support during unforeseen incidents. However research says there has always been an underlying fear of failure of the policy during critical hours. What if the insurance fails to pay the maturity amount when someone needs it the most. At the time of medical emergency, the most common sight is that of people being declined their claims or health insurance not providing enough coverage to meet the requirements. Although it is convenient to curse the insurers, but on close assessment, we may find that the fault may be ours. If not with us, then the circumstances related to the whole process of buying health care insurance. Below are some of the mistakes plan
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