All posts by dharamehta024

About dharamehta024

Beaming with confidence, Dhara is high on self-motivation and believes that impossible is nothing. She prefers smart work, is goal oriented and extremely focussed at what she does. Currently donning the hat of a Content Manager, she brings in her high energy levels, infectious enthusiasm and an eye for detail. In her free time, she can be found sharing her thoughts and catching up on the trendiest developments in sectors ranging from brand marketing to finance.

Debunking The Most Common Myths Related To Health Insurance


Looking at the common work culture, most people tend to spend most of their lives in a desk bound job. Sitting for long hours and munching on your favourite burger is definitely not how you are supposed to remain healthy. Sedentary lifestyle remains one of the biggest reasons for the increase in a number of diabetes and heart patients. Moreover, the ever rising medical costs is another reason of deteriorating health conditions in India. When the maximum population of your country is unable to afford quality treatment, it only results in untimely death which is nothing but saddening.

Experts suggest that only way out to such situation is a health insurance policy. An insurance policy will ensure availability of funds in the times of emergency. Nobody would like the feeling of losing their loved one just because of financial crunch, a health insurance policy will make sure that you and your family receives on time financial assistance. However, there are a few myths related to purchasing a health insurance plan, the below post will debunk such common myths.

No need for an individual policy:

As we all are aware that several work organisations provide a health insurance plan to all their employees, most of the people think that it is enough to safeguard them. This is one of the biggest and the most common myth related to a health policy. The plan given to you by your company will not have enough coverage options and will lapse as soon as you leave the job which is why it is advised to purchase an individual mediclaim policy. You can buy an individual health insurance online to avail lower premium rates.

Buy a policy just to save taxes:

The common perception among Indians, related to insurance is that it is only for tax savings. If you also have purchased a policy to save taxes and ignored most of the policy details then you will be startled at the time of making claims. So, make sure you go through all the policy related documents and study them in depth.

Once bought, needs no updating:

People tend to buy an insurance policy and later forget about it. They think that it will only be required in times of emergency. This myth better be busted, as it is mandatory to renew the policy each year. The terms listed in the policy may change every year with the renewal, it is crucial to be updated with the changes.

Why should your Young Ones Know About Car Insurance


Natasha was one of those girls who loved cars. Her knowledge and passion for cars was unmatchable. She even learnt how to drive a car before she was 18. Her father was aware of her admiration for cars and always encouraged her to pursue a career in the same field. Since her birthday was nearing, he chose to keep a surprise for her. Since she was now eligible to drive, he knew that would be the right choice of gift for her 18th birthday. On the day of her birthday, she woke up to the sight of a car key decorated with ribbons. As she stepped outside, it seemed no short of a dream to her.

Natasha was overwhelmed by this gift and hugged her father tightly. She went for her first drive in the car and came back home. Her father had called the car insurance provider from whom he purchased the car insurance policy. He wanted her to be a learned driver and be aware of the importance of insurance. The insurance executive then explained to her about the compulsion of car insurance and that it could be purchased from various insurance providers such as Royal Sundaram, ICICI Lombard, or many others. He told her that there are mainly two types of car insurance plans such as third party car insurance and comprehensive car insurance.

Though Natasha was aware of the concept of insurance, she took keen interest in understanding the details of each. She knew that car insurance was a compulsion by the Indian law. Besides, she learnt that third party insurance only covered damage and any medical expenses of third party caused due to an accident by her. However, a comprehensive policy covered damage as well as medical expenses of her as well as third party in case of an accident caused by her. Natasha felt extremely proud of her father’s way of imparting knowledge to her. She promised him that she would drive safely and always be a vigilant driver.

Like Natasha, your child can become responsible and aware too about car and its safety with insurance. So why wait, teach your child about insurance today.

Natasha was one of those girls who loved cars. Her knowledge and passion for cars was unmatchable. She even learnt how to drive a car before she was 18. Her father was aware of her admiration for cars and always encouraged her to pursue a career in the same field. Since her birthday was nearing, he chose to keep a surprise for her. Since she was now eligible to drive, he knew that would be the right choice of gift for her 18th birthday. On the day of her birthday, she woke up to the sight of a car key decorated with ribbons. As she stepped outside, it seemed no short of a dream to her.

Natasha was overwhelmed by this gift and hugged her father tightly. She went for her first drive in the car and came back home. Her father had called the car insurance provider from whom he purchased the car insurance policy. He wanted her to be a learned driver and be aware of the importance of insurance. The insurance executive then explained to her about the compulsion of car insurance and that it could be purchased from various insurance providers such as Royal Sundaram, ICICI Lombard, or many others. He told her that there are mainly two types of car insurance plans such as third party car insurance and comprehensive car insurance.

Though Natasha was aware of the concept of insurance, she took keen interest in understanding the details of each. She knew that car insurance was a compulsion by the Indian law. Besides, she learnt that third party insurance only covered damage and any medical expenses of third party caused due to an accident by her. However, a comprehensive policy covered damage as well as medical expenses of her as well as third party in case of an accident caused by her. Natasha felt extremely proud of her father’s way of imparting knowledge to her. She promised him that she would drive safely and always be a vigilant driver.

Like Natasha, your child can become responsible and aware too about car and its safety with insurance. So why wait, teach your child about insurance today.

List of Things to Consider Before Buying a Two Wheeler


Considering the conditions of roads in India, buying a two wheeler is always a feasible option to go for. Not only it makes whipping through traffic much easier but also makes parking absolutely anywhere convenient. But before deciding on buying a new two-wheeler, the following is the list of things you should take into consideration.

Budget:

Top selling two wheeler motorcycles in India range between Rs 45000 – 50000. Although there are few international brands that sell bikes at the cost of Rs 1lakh and more. The bike you want to buy will totally depend on your affordability. If you have surplus wealth, you can buy your vehicle by paying the lump sum amount or else select the option of paying equal monthly instalments. Keep in mind that you are going to own the vehicle for at least next 5 years, it will also incur service and maintenance charges.

Model:

The model of the motorcycle is the most important factor to consider before buying one. There are sports bikes, cruisers and standard bikes. Choose one as per your comfort level. If you are a first-time rider, consider buying a second-hand vehicle and upgrade to the new one after getting a knack of riding. Also, mileage is another factor to look for; usually motorcycles start at the mileage of 80 kilometres per litre.

Financial deal:

After deciding on which model to buy, get your financial transaction done with your dealer. It is crucial to visit at least two or three dealers to avail the best deal. Also, do not forget to negotiate on prices as many sellers tend to give lucrative discounts.

Insurance:

As the owner of the motorcycle, it is mandatory to have a bike insurance policy by law. It not only protects you from all sorts of damages incurred by accidents but also takes up the liability for injuries caused to third parties. Many insurance providers have eased their insurance buying procedure by switching online to sell insurance policies.

Fix your finances up!


We live in a world wherein the amount of trust one places into a fund or scheme is heavily dependent on the amount of monetary returns that it can reward you with. In such a scenario, people are increasingly likely to ditch highly risky schemes and instead look for a programme that doesn’t bleed more money than it generates each year. One such example of a fund is the fixed income scheme. Here are some things to know about them.

fixed income scheme

  • They are safe

Unlike the funds trusted by people to pay back larger magnitudes of money in comparison to the investment, fixed income products work on a very different premise. The amount pledged here is fixed in magnitude and does not suffer the whims of the market and its fluctuations like the other funds out there.

fis

  • They are user-friendly

Due to the optimum balance that they maintain between input, yield and the amount of liquidity (or cash) required, fixed income plans are perhaps the most suitable for those investors who are adjudged to have a very risk-averse profile, meaning that they ideally prefer to avoid the risk of losing money at all. Moreover, these plans allow for a regular and quantifiable return which is stable every time, thus appeasing those who are not too fond of unpredictable winnings (or losses, for that matter)

  • The working of a FIP

The plan intends to yield returns to the investor from a differing mix of debt as well as stock-related options wherein the money is invested. The positive is that one does not have to worry about market forces, interest rates or even larger investors throwing a spanner into their plans for growth, as the increase in returns here is constrained, regulated and incremental in nature.

  • Where to find one?

Most financial institutions will offer a variety of such plans. It is important to read the fine print to keep oneself aware of all obligations. Moreover, one should research thoroughly before committing to such a plan.

Second Hand Car Buying Tips


If you wish to purchase a second hand car, then it is absolutely essential to know how you can obtain a used car loan. There are a number of banks that offer used car loans which are quite simple to obtain if you follow a few guidelines. This form of a car loan takes into consideration the age of the car and its model for financing decisions. Mentioned below are a few things you need to keep in mind before availing a car loan.

The age of the car

Availing finance for a new car is relatively easier, but in case of used car loans, one of the crucial aspects of it is making a decision as to whether the required loan is worth taking up or not. The model of the car is also taken into consideration because if its availability in the market. If the model no longer exists, then there is a possibility it wouldn’t be financed. The age of the car and the tenure is used to determine the kind of finance it would generate. Also, the tenure is also determined on the basis of the age of a car.

Interest rates

The interest rates are based on the valuation of the car which is determined on the basis of the condition of the car, the number of kilometres it has undertaken and the model. This valuation will eventually help the bank of the financer to lend you money in order to purchase. Therefore, the interest rates are charged in accordance with the car model, the age of the car and the customer profile. It is better to look out for a bank than a lender because you will be offered a lowered interest rate via a bank than an NBFC. The processing of the documents does not take much time; it takes about 6 to 8 days approximately.

You can look out for a dealer

The current scenario has a growing number of people who sell their cars off as soon as a newer model hits the market. This way, you have a larger option to avail various used cars. Also, there are a number of organised dealers who source cars and certify them after which they put them up for sale. These dealers ensure the cars are in a great condition, accident free and whether the documentation work is complete or not. You can also avail a warranty of a few months to a year through these dealers.

The Need for Homeowner’s Insurance


You might think “why do I need a homeowner’s insurance policy?” well you need one for the same reason you have a car and a health insurance. That is if something like an earthquake or natural calamity were to occur, you would be reimbursed for the exact value of your home. The major reason to have a homeowner’s insurance because it helps with the financial support in order to buy a new or repair the current house.

homeowners-insurance1

While buying a homeowner’s insurance there are several factors you need to consider ensuring that you would actually get your money’s worth and not just wasting your finances on premium amounts that are just using up your money for absolutely no reason. So, here are certain factors that you must ensure are covered under your home insurance policy.

Hazard Insurance

Having a hazard coverage ensures that your house repair costs are taken care of in case it were to get destroyed due to certain instances like fire, storm, theft, vandalism and similar threats. The hazard insurance policy ensures that you are covered for the cash value of the damages or the replacement value of the damaged objects.

Liability insurance

The liability insurance policy is not specifically for you, but for the damages caused to others. For example, if someone were to get hurt due to the design of your fence or door the liability insurance would cover all the medical expenses required for them.

Mortgage Requirement

The is one of the biggest reasons that you should a homeowner’s insurance policy. It is not for you, but for the mortgage companies that require it. This is if you have taken any sort of loan on the house. Remember to use the home loan EMI calculator and tally with them and check to it that all the amounts are justified.

Quick Tips to Avail Tractor Finance for Agricultural Purposes


Tractor finance for agricultural purpose is extremely useful for people whose primary mode of occupation is farming. In earlier days, this occupation was conducted by making use of bullock carts and ploughs but with the advent of technology, things have taken a rapid turn, for the better. The productivity has definitely increased with the usage of tractors and they are useful to simplify the complicated farming process.

The main issue here is the affordability of these machines. Purchasing this machine becomes difficult for some; therefore, quite a number of banks launched flexible tractor loans in order to realise the dreams and ambitions (of the farmers) of owning a tractor and multiplying the output.

Tractor Finance for Agriculture Purposes

The following tips will help you obtain a tractor loan:

Look out for a financer

This is one of the most important tasks because quite a number of financial institutions will offer you varied rates and you need to select one that suits your needs best. This can only be possible if you read the loan documentation carefully of every institution you approach. This will help you decide what is perfectly suited to your requirements.

Apply for the one offering you best interest rates

The interest rates always depend upon the amount you intend to borrow, the duration of the loan (also known as the tenure) and other similar factors. Hence, you should keep that in mind before availing tractor finance for agricultural purposes.

The documents required

In order to avail tractor finance for agricultural purposes, you are required to produce the following documents:

  • Documents pertaining to land ownership
  • KYC documents (that include your name, age, address and DOB)
  • Encumbrance certificate
  • Your guarantor’s KYC and ownership documents

You can avail the facility of a foreclosure

You can also avail a provision where you can foreclose the loan before the closing date. This is for all those people who do not wish to remain under the debt of a loan (for a long term). This provision is allowed after the completion of 6 months (commencement) with an additional fee of about 5 percent on the outstanding loan.