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  • 7 Factors to look for while you choose your first online term plan

    7 Factors to look for while you choose your first online term plan

    When we talk about the most straightforward life insurance policy with maximum possible coverage at an affordable price, there is nothing better than an online term insurance plan. The time you decide to buy your first online term plan, there are a few factors you should keep in mind to make sure that you choose the best policy that will help your family in the case of unforeseen circumstances.

    Contrary to the common belief among the general public, the premium m amount that you need to pay is not of utmost importance for the decision making, though it is one of the factors to be considered. Hence,we are not going to include it in our top 7 elements that you should look for while you choose your first online term insurance.

    1. Options to customise coverage

    Though there are very few insurance companies that offer customization in online term plans, you should check them and see which option suits you the best. There are riders available with term insurance policies which can help you in critical illness and women-specific medical ailments.

    2. Option to replace income

    When we talk about the best term plans in India, riders hold a crucial position in the discussion and there is a reason for that. At the time you get diagnosed with critical illnesses covered under riders that are available with term insurance plans, your income replacement rider can provide your family the much-needed financial support which has suddenly vanished because of your deteriorating health.

    3. Multiple payout options

    You can also prefer multiple payout options to ensure that your family can secure monthly payments for an extended period. The rider will help you to choose an amount that you would like to provide to your family after your demise.

    4. Protection for women

    There are female-specific riders available with term insurance plans which are specific to the ailments and needs of women. These riders also cover complications during pregnancy.

    5. Tax benefits

    When you buy term insurance plan, you get tax benefits of up to 1.5 lakhs and with critical illness rider, your tax liability will be even lesser.

    6. Milestone based planning

    Some policies offer the policyholder to increase death benefit at the key stages of life like marriage and childbirth by allowing a significant increase in sum assured. Thus, based on one’s future financial requirements, this option always comes out to be an economical one as compared to buying a new plan or product.

    7. Split coverage

    The financial needs keep on changing throughout the life, with its peak at the time of marriage and having kids and reduce by the time of retirement. Thus, one can split the coverage into two such that one plan is linked till the retirement while the other will continue after that. By doing this, one can keep the premium outgo lower as compared to the lump-sum plan.

    Term insurance helps in getting your family back on its feet after you and is the best options when it comes to securing the finances of your family. The best online term insurance plans that are available in the market have incredible benefits. All you need to do is to check and compare them to choose the best that suits your requirements. For more queries, you can contact us.

  • Splitting the Risk: 5 Clever Ways to Store Your Money Without Having to Worry About Thieves

    Splitting the Risk: 5 Clever Ways to Store Your Money Without Having to Worry About Thieves

    It’s amazing how easy most things are today. If you want to buy anything, you can do it from the touchscreen on your phone with the click of a button. If you want to know how to solve a detailed math problem, you can ask Alexa or search Google. And if you want to steal someone’s identity, you just have to know how to hack into their personal information.

    Sadly, this happens all too often, making a lot of people gun shy about using the web at all for financial transactions, and making them nervous about keeping their money anywhere but in their own hands.

    It’s actually a smart move if you do it right, but you don’t have to stuff your cash under your mattress to store your money. Here are 5 clever ways you can stockpile your money without worrying about it being stolen.

    5 Clever Ways to Save Your Money and Avoid Thieves

    1. Find a creative place to store your cash. Leaving your money in a cookie jar, drawer, or under your mattress is just screaming for any would-be burglar to walk off with it. Instead, if you prefer keeping your cash on hand, find a place to store it that would take time and logic (neither of which most thieves have) to find.
    Some ideas are to use a freezer bag and store it behind all of your frozen food, in an old jacket pocket squeezed in with all of your other clothes, or inside a book stashed in your bookshelf.

    2. Make your home less of a target. Thieves can be pretty smart. They know which neighborhoods to canvas and when your garbage days are. With these two ideas in mind, potential burglars will head up and down streets to see who has recently purchased a hot new item and tossed the evidence in their trash cans.

    Avoid telling anyone who drives by that you just bought a brand new computer or state-of-the-art television by recycling the boxes at your local recycling dumpster or plant. Keep your curtains drawn if anyone who walks by can see the expensive furniture and electronics you have inside. In short, don’t make yourself a target if you are storing cash in your house.

    3. Avoid taking out big loans that leave you with a lot of cash on hand. If part of the reason you have this concern in the first place is that you need a lot of money for something, but you aren’t going to use it right Find a creative place to store your cash. Leaving your money in a cookie jar, drawer, or under your mattress is just screaming for any would-be burglar to walk off with it. Instead, if you prefer keeping your cash on hand, find a place to store it that would take time and logic (neither of which most thieves have) to find.away, consider your options in terms of loans.
    Instead of taking out a lump sum loan that leaves you with high monthly payments on money you haven’t even spent yet, you may be better off obtaining a line of credit rather than an installment loan. You can check out sites like loanreviewhq.com/ to see if you qualify and what the details are.

    4. Install a security camera. While a camera isn’t going to do much to keep your cash from disappearing if there is a really determined thief, it goes a long way in deterring most of them. Plus, effective security cameras may catch the person who broke into your home, and although you may not get your cash back, you will at least be able to put the perpetrator behind bars.
    Don’t keep all your eggs in one basket. In other words, don’t store all of your cash in one creative place. Instead of putting all of your money in the really cool book hiding place, split it up amongst multiple unique storage spots. The odds of a thief finding all of them is slim to none.

    Plan Ahead: Be Smart With Your Cash

    If you choose to keep your cash on hand because you want to outsmart the technology thieves, don’t become a target for normal, everyday burglars. Plan ahead and use these five strategies to keep your cash safe.

  • Which Wealth Management Company Is the Best?

    Which Wealth Management Company Is the Best?

    You might have a lot of money that is just sitting in your bank account and not earning a lot of interest. You want to figure out the best way to invest your money and make it grow. However, you do not know anything about the stock market and investing. You should never start making investments if you do not know what you are doing. You need the guidance of someone who is an inventing professional. Here are a few tips that will help you to choose the best wealth management company to take care of your assets.

    1. Talk to friends and family members who have hired a wealth management company to make their investments for them.

    The first thing that you should do is reach out to the people in your life and see if they can offer you any advice regarding wealth management companies. There is a chance that they have been doing business with one of those companies for a long time. If so, are they happy with the amount of profit they have received? Does the wealth management company charge fees that are reasonable? Would they recommend that you hire the same company to manage your money that they are currently using? You might be able to find a company that specializes in wealth management for professional athletes by doing an online search.

    2. Make appointments with several wealth management companies to discuss their investing strategy.

    You should never hand over your money to a wealth management company without knowing everything there is to know about them. It is crucial that you get an idea about the methods they use when they are deciding how to invest your money. Make appointments to meet with the representatives of the wealth management companies that you are interested in.

    3. Compare the fee structures that are charged by the various wealth management companies you speak to.

    You need to determine the percentage of your profits you will need to pay each wealth management company. Then you can compare them and have a firm understanding of what your options are.

  • 7 Loan Options for People with Bad Credit Ratings

    7 Loan Options for People with Bad Credit Ratings

    Every day, so many people apply and get approved for both personal and business loans, however, a surprisingly large number of them gets rejected, as well. Most commonly, this is due to the bad credit score of the applicant that makes them into an unreliable investment prospect from the standpoint of the credit union. Unfortunately, developing a bad credit is not just something that happens as a result of negligence. A poor judgment, a small lapse in your schedule and even a lack of knowledge on this topic may lead you to develop a worse credit score than you deserve. Nonetheless, even in this scenario, all is not lost. Here are several loan options for people with bad credit ratings.

    1.      Secured loan

    The main reason why a person with a bad credit can’t get approved for a loan is due to the fact that a bank or a credit union doubts that they’ll return the borrowed money. This usually isn’t a problem with secured loans is due to the fact that they require a collateral instead. Getting a secured loan would require you to offer a valuable asset as a guarantee. Most commonly, it’s something like a property or a vehicle, while your investments may also be an option, in some cases. It’s also important mentioning that the repayment period of this loan is somewhat longer, which isn’t necessarily a good thing. A longer term means that you’ll be in debt longer, even though monthly payments will be somewhat lower.

    2.      A consolidation loan

    The next idea that you should consider is applying for a debt consolidation loan. In the introduction, we mentioned the phenomenon of having a bad credit score and this most commonly comes from a multitude of already existent loans. Things might get even worse, due to the fact that you’ll most likely have a problem to keep track of all the payment dates, interest rates and other factors revolving around these loans. Getting a debt consolidation loan can, therefore, resolve your short-term financial issues and help you manage your debt and your finances in a more efficient manner.

    3.      Loan from a personal acquaintance

    This particular idea is quite controversial, seeing as how it has some obvious positive and severely negative sides. On the positive side, a friend or a family member is not going to ask you about your credit score. Second, your previous reliability, in relation to them, might determine their willingness to lend you the money. The best of all is that you have the ultimate flexibility when it comes to agreeing on a payment plan. The problem is that you’re putting a relationship at risk. Aside from this, there’s only so much that your friends and family have to lend you, even with all the best intentions.

    4.      P2P lending

    Another viable option would be for you to go for a P2P (peer-to-peer) lending option. The benefit of this form of lending lies in the fact that there’s much less paperwork, even though some platforms have strict rules and qualification requirements, as well as the fact that your bad credit score won’t be a huge factor. The downside of this method lies in the fact that it might take a while until you receive the funds, while sometimes, you might be in a rush to get the money. Moreover, it’s highly unlikely that you’ll be able to receive all the funds you need from a single source, which means that you’ll have to look for multiple lenders.

    5.      HELOC

    The term HELOC stands for a home equity line of credit, which offers one an option to use the equity in the home that they have as a collateral for a loan. The advantage of this lies in the fact that you don’t have to own an entire home, seeing as how having a share of 20 percent in it may be more than enough. Another perk of going with this option lies in the fact that you get a lower rate (even lower than you would have with a credit card). On the downsides, once you’re done, you have to pay the closing costs and there’s always a small probability that the bank will cancel your line of credit. Most importantly, you’re putting your home on the line, which, although necessary, never feels quite right.

    6.      Bad credit loan

    It goes without saying that not all lenders abide by the same standards. Some companies are willing to be more lenient and grant loans even to those with not-so-shiny credit record. Of course, in this case, the terms under which you’re receiving the loan are not that great either, seeing as how the lender is also taking a greater risk. This usually means a somewhat higher interest rate, amongst other things.

    7.      Boosting your score

    Finally, if you’re not in that big of a rush, you could always set aside some time to boost your credit score. Pay off some of your debts, become more conscientious when it comes to due payments and work your way up towards boosting your rating. As we’ve already mentioned, if time is of the essence, this will not be a valid option, yet, it’s worth considering afterward either way.

    In conclusion

    At the end of the day, even though you do have options even with a bad credit rating, you shouldn’t neglect your credit score for too long. There’s a reason why this matters, seeing as how a future employer might check your score during the vetting process, which means that this will determine whether you get hired or not. Aside from this, your credit score might also play the role in your ability to get better terms for your insurance policy. Moreover, even though you have so many options with bad credit scores, with a decent one, you would have even more of them, which is alone a reason good enough to work a bit on this. Still, it’s more than reassuring knowing that not all is lost.

  • Best Currency Conversion Apps For Constantly Staying Updated on Currency Changes

    Best Currency Conversion Apps For Constantly Staying Updated on Currency Changes

    If you often different currencies than just the one found in your country, you know how important it is to stay updated with the latest currency trends. I know googling currency conversions once doesn’t take a lot of time. But if you need it on a more daily basis, if you travel often, for example, it can be quite time-consuming to browse every time. I personally prefer using apps as they basically bring everything you need in one neat package. As every app is a bit different I decided to google for great currency converter apps and after just a couple of minutes, I stumbled upon this list I found quite useful.

    Best 10 Apps For Exchanging Money by AppGrooves

    Although it says apps for exchanging money, they are currency converter apps and some of them have the option to exchange money as well, which is quite useful. So, I picked my favorite 3 and decided to review them in hopes of making your search a bit easier.

    Currency Converter – A Basic App That Does Everything

    I think the app’s name says it all, it converts currencies. I prefer apps that have a more “creative” name, but it’s definitely not a deal breaker. A great thing about Currency Converter is that it’s a simple app. I think you’ll instantly get familiar with it as the design is extremely user-friendly. I double checked some conversations on Google and they were all on the point so you can be sure you get the latest conversion. A great bonus feature is the app also gives you info about credit card rates in other countries so you can easily prepare if going outside your country.  Thus, I think this one is great for anyone who travels often.

    Finally, the app comes with a widget you can customize so you don’t even turn on the app – you have everything on your screen. But, although I like the app design, I got to say, the widget design isn’t the best. It takes a great portion of the screen and you can’t change that. You’re stuck with a large widget which is especially a bummer if you have a small phone. It’s not too big of a deal as the app is great, but with the small fix, it could be much better.

    Currency Converter Plus Free with AccuRate™ – A Better Insight

    This is another great app if you often visit other countries. I might even like this one more than the first one since I think it’s more interactive with its features. It’s definitely more for people who are tech-savvy and want to be able to control every aspect of an app. There’s a simple drop-down menu where you can customize the main currency (your own) and nine others. Once you enter a number, the conversion is instant and correct. Another reason I think this one is better for more advanced users is the graphs. By simply tapping a button, you’re greeted by an eye-pleasing graph that shows you the the changes for the last 5 months. You can even refresh the graph if you want to double check in case you’re making exchanges.

    With a useful graph and other great features, I was hoping the app also comes with price-change notifications. I don’t know, it just seemed like a natural course for me. Unfortunately, as of now, the app doesn’t support that. So although it has the potential, it’s definitely not the best app if you’re looking for the best time to exchange as you have to check manually.

    XE Currency – A Powerful App For Exchanges

    Finally, there’s XE Currency, my personal favorite. The reason is it does everything the first two do with a bit more. Initially, I thought it would be complicated to use because it has many features, but the developers did a great job with the design. Besides checking the current rates, you can also get additional information for each currency with a single tap. And yes, XE Currency does have price-change alerts and you can customize the notifications. Finally, another great thing that shouldn’t go unnoticed is you can also check when offline. Although you should connect to get the latest updates, this becomes useful when you need quick information. Definitely a great app for anyone who’s in currency exchange.

    Unfortunately, to get full features, there’s a small fee. But if you’re serious in currency exchange, it definitely worth it considering the possibilities you get – from news and detailed analysis to notifications. I don’t recommend this one to people who only need exchange information. There are much simpler apps for that like the previous two.

    Conclusion

    So there you go, my top 3 currency converter apps. You should try one of the first two if you only need to quickly check the latest currency trends. If you need a more powerful arsenal for daily exchanges, check out XE Currency. All 3 apps are useful and I have no doubt they will save you time so you can focus on other things in your life.

  • What Freelancers Should Consider When Choosing An Accountant

    What Freelancers Should Consider When Choosing An Accountant

    As a freelancer, you want to spend time doing what it is that you enjoy and making sure your clients are happy but there is more to running a business than just the work – you also need to think about all of the financial aspects.

    One of the ways to help reduce your own stress would be to employ an accountant to take care of all the financial elements for you but unless you know someone already, how do you go about choosing an accountant to work with? Here is our quick guide of what to look out for when choosing an accountant.

    1. Do you even need an accountant?

    The first thing to think about is whether you even need an accountant at the moment. If you are just starting out as a sole trader it will probably be perfectly feasible to do your books and taxes yourself, so you might want to save your money and not bother with an accountant.

    If you have set up a Limited Company then you will definitely need an accountant to help you as it gets a little more complicated. Think about what you can afford and what works best for your business right now.

    1. What kind of accountant do you want?

    If you do need an accountant then think about what kind you want and how involved you plan to be in the whole process. Are you going to do the books and hand them over, or do you want to work alongside them on everything?

    You need to find someone who is happy to work in the way that you want them to and who you can trust. They need to be able to fit in with your lifestyle so if they are miles away and have short opening hours that might not work for you.

    It’s also a good idea to look for an accountant who understands your particular industry needs so make sure you find someone who is experienced in the challenges which you might need them to handle for you.

    1. Think about what your accountant needs to know

    Make sure the accountant you choose knows and understands all of the areas in which your business works, so if you have staff they need to know about payroll and contracts, or if you are in retail they need to know about VAT.

    If you have any complications like selling products abroad, then you need to find an accountant who knows and understands any issues which might arise with international sales. It’s all about making sure the accountant you choose can bring value to your business and that you are working in an area they are interested in.

    1. Does the accountant know your accounting software?

    If you are using accounting software already and the accountant doesn’t know it, then this should ring alarm bells with you. They need to be able to work with your software and use it effectively to work with you. You also need to know if they are going to do the bookkeeping or if they are planning to outsource it if they are too busy – you need to know who is working on your account at all times.

    1. How do they work on a day-to-day basis?

    You need to have clear expectations of the kind of contact you can expect from your accountant and how available they will be if you need to get hold of them. Find out if they prefer to communicate via email, phone or face-to-face meetings and what they are happy to offer.

    You don’t want to sign up with someone only to find you can never get hold of them when you have a tax crisis on your hands. You need to be comfortable with the kind of contact they can offer – if you want to be hands on you need an accountant who will be happy with a lot of contact from you.

    1. Make sure they know their own industry

    Make sure they are aware of any changes happening in the wider accounting industry which could impact on your business and are able to advise you accordingly. Issues connected with Brexit, for example currently, could have an impact in the future so you need to make sure your accountant is up to speed with modern business issues.

    Choosing an accountant is a really important decision to be made by any freelancer as if you get the right person they could bring enormous value to your business and help to make your life much easier in the long run.

    It’s vital to take your time and look for a good fit with your accountant as you will be working closely with them and they will be supporting your business through good times and bad potentially.