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DON’T BE AFRAID OF OCEAN WHEN YOU HAVE MARINE INSURANCE

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Marine insurance is where the idea of insurance originated. Marine insurance is one of the oldest types of insurance, dating back centuries. Later, as trade and business increased over time, it underwent significant development. The majority of international trades that entail moving products from one location to another via ships are covered by marine insurance. Because the oceans are so unpredictable, there is always a great deal of danger involved in these cargo transshipments. Therefore, it is crucial to get marine insurance to protect your goods from unforeseen uncertainties and marine perils. Furthermore, it is essential to get marine insurance for protection against any loss or damage to the goods and cargo that the ship is transporting. In the event that cargo or items are damaged or lost while being transported by truck, car, ship, vessel, courier, etc., marine insurance offers financial protection against damage or loss to cargo or goods. A marine insurance policy provides co...
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FIRE INSURANCE: SEAMLESS SECURITY TO YOUR VALUABLES

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A huge fire broke out at Thane’s Orion Business Park recently on April 19, 2023, that left everybody in a huge shock. Once the fire broke out at 8 pm, it consequently damaged almost 90% of the entire commercial building and destroyed 21 office units, 3 four-wheelers, and 23 two-wheelers. With the assistance of a multi-agency operation involving 90 firefighters, it took 10 hours to put out the enormous fire. The incident is unforgettable for me because I was in a very close arena when I saw the fire. I can still remember the huge sparks of fire flying high in the sky and blasting sounds at certain time intervals, as I could witness the same while I was taking a walk in the late evening. The entire neighborhood was scared to witness such a scene of huge fire flashes followed by the continuous sirens of firefighting vehicles and ambulances. The fire kept on flashing for hours and hours, and the entire area was covered in smoke. In addition, the traffic jam caused by the ongoing metro line...
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Location: India
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Insurance Bonus - Use Your Bonus Smartly

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It is the time of the year when you will also have a salary increment and annual bonus. You must have already planned where to utilize the bonus. Wait and read and ponder on below following financial planning steps as well. These steps will help you to prioritize where you can use the bonus most effectively. We all have gone through the pandemic and you must have noticed various news of layoffs at corporates. Keeping that in mind we want you to think and plan your finances.  Create an Emergency Fund:  The financial planning suggests having at least 6-12 months of expenses as an emergency fund. So utilize your salary increment and bonus this year to create the emergency fund. This is why experts recommend that everyone should maintain an emergency fund that can be easily accessed at short notice. If you wonder what is the ideal amount to be kept, the thumb rule is to save enough to cover 3-6 months of expenses which should also include loan EMIs, insurance premiums, and other m...
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Location: India
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Do I need Term Insurance?

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This is an issue that needs to be carefully thought out because it is so crucial. To find the solution to this question, let's look at the significance of term plans and the best time to purchase them.  Financial decisions: We regularly purchase stuff for our family despite our efforts to cut back on our spending on useless items. When making purchases of products like toothpaste or cars, we take the product's utility and quality into account. It only makes sense to carefully consider the product's quality and financial benefits before making a purchase or investment. In a similar vein, we should be cognizant of the monetary value of each of our lives. Term insurance is urgently necessary if the cost of a human life is less than your present insurance coverage.  Loss of income: When we have a cough, cold, fever, or any other medical issue, we soon get relaxed. Because we are still getting paid, we might not currently recognize it as a temporary loss of income. Your family s...
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Location: India
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LIFE INSURANCE: ENDOWMENT POLICY

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Definition Endowment insurance plans are designed to offer a sizeable payout in the case of death as well as maturity. The policy can be profit-sharing or non-participating in profits. Policy term The Policy Term is the period for which the Insurance Company is at risk and signifies the existence of a valid policy contract. Premium paying term The time span during which the policyholder must continue paying premiums in order to maintain the contract's validity is known as the Premium Paying Term. The insurance term is the same duration as the regular premium payment term. Yet, certain insurance contracts may allow the insured to select a premium payment period that is shorter than the policy's duration. The policy's duration must not be longer than its term. The Insurance Term may not, under any circumstances, exceed the Premium Paying Term. Regarding the Policy Term and the Premium Payment Period, the codification marks a significant departure from the prior regime. Accord...
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Location: India
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WHY SHOULD YOUR FAMILY KNOW ALL ABOUT LIFE INSURANCE

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Introduction The vulnerability of life is enormous. The world has also been jolted by uncertainty in the present epidemic crisis. A reliable insurance policy becomes essential in these circumstances. The primary duty and major source of concern for a breadwinner is ensuring that the family will be safe when they are not around. Therefore, a life insurance policy displays its worth in situations like these. But what if an unfortunate event happens and your family is left struggling financially because they are unaware of your life insurance policy? The process does not end after purchasing the policy. The insured should tell the family about the coverage as well. Why your family has to be aware of your life insurance policy: - Prior knowledge to understand the claim process and make a timely claim:   A life insurance policy's primary goal is to protect the family's financial security. But, in order to get your loved one’s financial support, you must inform them of the plan and i...
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WHOM SHOULD WE BUY INSURANCE FROM

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As mentioned in the article's description, choosing between an agent, broker, and internet platform to purchase insurance policies is both very important and difficult for a beginner. Insurance is a fairly simple product to use: after paying a premium to cover the risk, one receives payment from the insurance provider in the event that an insured event occurs. In other words, it functions exactly like a client paying money in exchange for goods or services. It operates similarly to any other business where we see the exchange of goods and services. The only reason the estimated insurance payout varies is that it is based on factors outside the consumer's control. Nonetheless, it is well acknowledged that working with insurance firms is challenging and that the subject is complex. It's simple to realize why. If and when it pays out, the sum is substantially higher than the premium the policyholder paid, thus the insurance company will ensure that the amount being released is...
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