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General Insurance
In insurance, a situation in which a loss, resulting from a deliberate act of sacrifice to save other goods, is shared by the insurers concerned (such as the insurer of a vessel and the insurer of its cargo where part of the cargo has been jettisoned – and lost – to save the ship). Life with all its wonderful opportunities has its own share of hazards. Hazards and dangers with their variety and sudden improbability require strength and resourcefulness on one's part so that they can be duly encountered. General Insurance seeks to cover protection against different areas of hazards including property, enterprise, vehicle, money lending and various other forms of professional casualties, except the casualty of death. Why Requirement of General Insurance? Ensuring an agreement between the insurers and insured which forms the basis of its financial transactions, general insurance sells products and policies safe guarding various facets of property centric risks. It seeks to protect home or immovable properties against the various natural perils of fire, flood, storm, inundation and earthquake. It also covers risks pertaining to theft and burglary. Factory and its associated installations, along with breakdown of machinery may also come under the domain of general insurance. Besides immovable property, even movable property comes under General Insurance's protective domain. There are general insurance products or policies covering the interests of automobile owners and those of cargo owners. Insurance against time bound damages caused naturally over time and those of theft, shipwreck and accidents where the insured had no direct role to play in its occurrence also come under its protective purview. There are particular policies seeking to protect the hulls of ships on account of their greatest exposure to risks. Some of the areas related to general insurance are geared to benefitting individual personality. Commonly known as personal insurance, accident and health insurance are offered by such beneficial products without catering to the risk of death. Such insurance generally covers the cost of hospitalization by way of reimbursing the victims or at times give way to cashless hospitalization. It is important to note that accidental insurance and health insurance have enough products of different customizations to cater to the insurance of an individual or a group of individuals. For example employees working under an organization may come under its purview. Group insurance is cheaper because the insured can avail of discounts of various types. Liability insurance catering to the liability of a third party comes into play when there is a risk to another person's life or health on account of the owner's property and the owner is legally bound to compensate Thus for meeting hazardous situations arising out of a legal course of action, liability insurance which is also a part of general insurance, becomes beneficial. Car owners, house owners, factory owners and medical practitioners may come under the domain of liability insurance. There are policies specially made keeping in mind the target group or groups of individuals whose business may come under the risk of legal suits. Even credit insurance seeking to protect the interests of private money lenders and financiers are protected by general insurance. To cater to contingencies arising in course of traveling requisite general insurance on part of travelers is known as travelers' insurance. Pet insurance, an idea common in the west, seeks to cover the relative expenses involved with regard to the maintenance of pets and other domestic animals. Even the loss of pet is covered under this special branch of general insurance known as the pet insurance. Similarly there are insurances to cater to the risks of private as well as public event management groups. Usually the actual value of the property, together with the anticipated value of loss is counted for the purpose of insurance cover. Accordingly the price and premium of a policy are determined. If the actual value of the property is not highlighted, as part of its risk calculation; in the event of its occurrence in reality, the owner will be required to pay additional premium. Actuaries- a special group of professionals play an important part as far as pricing and premium evaluation of a product related to general insurance is concerned. Most of the policies involve advance payment of premium; while only a few of them are adjustable with premium payment being dependent on annual profit turnover or average value of stock. For every individual and all forms of property holders, general insurance is a must. Damage partial or complete may be shattering; but general insurance serves to mitigate the extent of damage. Similarly industrial units and business houses need to protect their unit and seek adequate cover for various costs of repairs. They also need resources to counter the risk of liabilities. General insurance extends protection to all these risk prone areas. Awareness is necessary along with ones exposure to the possible risk elements so as to avail of its maximum benefit. As far as availing of its maximum benefit is concerned, it is all about buying the right policy. For this a prospective policy holder needs to make a due calculation of the risks of loss. A good policy from his point of view should be cost effective where the quantitative amount of loss is higher than the total cost of insurance and yearly premium to be entailed as part of a general insurance policy. We are a distinguished General Insurance Service Provider based in India.
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investment planning
You want to make sure you purchase as much as you need. If a more expensive permanent policy means you can only afford to buy less, it’s probably not a good idea. After all, the whole point of insurance is to make sure your family has enough to be taken care of financially if something were to happen to you. Likewise, you don’t want to buy insurance that you don’t need either. That’s because on average, you’re likely to spend more on it than you or your family will ever receive. Think about it for a moment. The insurance company has to collect enough in premiums not only to pay out benefits but also to cover their expenses and make a profit. In fancy business lingo, your expected return on those premium rupees is negative.What are the Benefits? For those who are looking forward to save on taxes, building a strong business portfolio and for enhancing the overall future wealth, the Investment Planning alone would turn out to be the best option. If gone through the overall steps well, Investment Planning can in no way lead you towards absolute financial instability. By creating an overall budget, paying off all your outstanding as well as existing debts, one can start thinking about their rainy days straightaway. Designing a well disciplined saving program either by investing in education or in the various pension schemes, one can prosper in saving huge for their upcoming years. Keep in mind; good Investment Planning completely turns your dream goals into reality. Every once in a while we get a call on our Financial Helpline from someone whose financial adviser recommended that they invest in a permanent life insurance policy (including whole, universal, or variable universal life). The adviser’s pitch can sound compelling. Why purchase temporary term life insurance that you’ll likely never use? Isn’t that like throwing money away? With permanent life insurance, part of your premiums are invested and some of it can be borrowed tax-free for retirement, or your children’s college education, or anything else you’d like and your heirs will get a nice death benefit when you pass away. We are a preeminent Investment Planning Service Provider based in India.
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insurance planning
We are a prominent Insurance Planning Service Provider based in India. Life insurance provides funds to your family or an organization after your passing Term life insurance provides protection at a low cost, but doesn't build cash value Permanent life insurance provides protection while serving as an investment opportunity with potential for growth Life Insurance Planning provides a way to help those you care about to maintain their quality of life in the event of an untimely death and may provide retirement and other benefits to you during your lifetime.Why life insurance? A life insurance policy can provide protection based on your current situation, goals and needs : Permanent life insurance provides lifelong coverage while building cash value Term life insurance often costs less, but covers only a set period of time and does not build cash value If you already took steps to financially protect your family, remember to periodically assess your situation. Changes in your income, financial obligation and long-term goals mean the type and amount of Insurance Planning you need may have changed, too. Why we need Insurance Planning?Ajay is 35 years old and works for a multinational corporation (MNC). He has a ten-year-old son, Vijay, whom he dreams will one day become a doctor. Ajay's spouse is a housewife, and his parents are retired and dependent on him. Ajay has a home loan and is making monthly investments for Vijay's higher studies and marriage and his own retirement. Ajay wants to ensure that Vijay gets the best of everything and that he himself is not dependent on Vijay during his retirement in the way that Ajay's parents are on him. So far everything is going well with Ajay's plans. But imagine what will happen in the following scenario. One day while returning home from the office Ajay has an accident and dies. What will happen? Who will take care of the family, Vijay's education and marriage, the home loan etc.? What are the options available to Ajay so that his family can be taken care of in his absence? Now put yourself in Ajay's shoes and imagine you are the family income provider and have to face the above scenario. What will you do? Relax! Our intention is not to panic or scare you. We are using this case study to try to help you realize the importance of insurance which is the solution to all the problem. So, let's look at the scenario again and see how insurance can provide a solution. Life insurance provides protection to a family on the untimely death of the income provider. If Ajay has adequate life insurance cover, then should he die, the money received from the life insurance company can help to support his family.The insurance money will help to take care of the family's living expenses, Vijay's education and marriage, and the cost of the home loan etc.What are the benefits? As individuals it is inherent to differ. Each individual's insurance needs and requirements are different from that of the others. Insurance Plans are policies that talk to you individually and give you the most suitable options that can fit your requirement. When you discuss for a life insurance plan you’ll need to review information about your financial situation. For example, you’ll likely cover your : Current life insurance and savings Current income and monthly expenses Other family commitments, such as college funding Survivor's basic needs Survivors' expected income vs. income needed to cover expenses for life After assessing your coverage needs, your advisor can recommend the right life insurance policy for you.
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retirement planning
Preparing for your financial well-being is important throughout your life time, but it is critically important during that period, when you are heading towards retirement. Do You Know How Much Money You Would Require in Your Retirement?The answer to this, in fact nobody knows. Money is such a sweet fruit which entices one and all. No matter how much money you have, there is never enough of it. So, to ask such a question as "how much money is required for retirement is indeed very relative. There are a number of factors such as your standard of living, any liabilities or dependencies, your expenses and your targeted retirement age. A better to way determine this sum for yourself would be first of all make an estimate of your post-work income i.e. the amount of money you'll need when you are not working anymore. This should be around 80% of your current income. Now decide the age you want to retire in. Add up the market value of all your savings and investments and determine a realistic rate of return on them, assuming inflation is about 4% per year. This way you would have a fair idea of the amount you would need on a monthly basis to support your retirement.How Much to Save for the Retirement?For this, you need to make an account of your current expenses and liabilities. Now keeping in mind your present standard of living, you should make an estimate of at least 80% of your current income which will be your post-retirement income. Now subtract your expenses not spent on yourself from the total expenses i.e. in your retirement age, there won't be any dependencies on you, so lesser expense. Depending upon how the numbers work out, you may be able to save a large portion of your employment income toward your retirement, Why Do We Need Retirement Planning in Our Life?Retirement is one of the most important life events many of us will ever experience. Since growing old is not optional, so is earning income and then suddenly withdrawing from it. From both a personal and financial perspective, realizing a comfortable retirement is an incredibly extensive process that takes sensible planning and years of persistence. Retirement planning in today's times has become all the more important due to certain uncertainties of government retirement schemes. It is widely known that government pension plans are nothing to rely on these days because of the overgrowing population and corruption. Moreover, there are unforeseen medical expenses and emergencies in today's times which can't be anticipated. Another factor which indirectly and conventionally plays an important part is the withdrawing of children from parents when they grow up. In this competitive world, children are more ambitious who want to lead their private lives away from parents, so in their absence, there is no one to take care of your financial needs in your retirement age. Retiring from one's job is a trauma in itself, there is a growing need to support your living with an assured Retirement plan. After all, it is the quality of life that we all want and it lies entirely on what we contribute in present. If you too are trying to figure out the effects of expenses, inflation and those that appear to be fruitful for satisfying your retirement phase then, we at Financial Planning Arcade have a solution. What are the Benefits?A pension plan ensures regular income after retirement. There are two phases in any pension planning- accumulation and disbursement. First phase involves investing in different financial instruments. To build a huge corpus amount, one should start as early as possible. A person can start investing just a small amount and then increase the amount as per his financial ability. By starting with low amount for more number of years, a person can accumulate quite a big lump sum amount. If a person invests in pension plan, then at the end of policy term, one-third of the amount can be withdrawn as lump sum while the rest of amount is used to purchase annuity. We are a trusted Retirement Planning Service Provider in India.
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Health Insurance
A prior planning towards insurance can certainly help you to cover the costs of care and recovery, so that you can spend hard-earned money on what matters most. At Financial Planning Arcade, we offer our clients with a variety of Health Insurance solutions that can offer protection throughout the existence of disease. We work with our expert health planning advisors and come up with the solutions that can save you from hassle of lump-sum payment for heavy medical expenses. What benefits we bring in for our clients : Allow flexible solutions by comparing the best deals for you Satisfy high-cost medical treatment expenses Allow immediate medical aid Takes burden off from cost-effective health insurance programs Grant successful health care access Work towards simplifying the tax strategies by minimizing the gross income and maximizing the deductible expenses We will be happy to go over with health planning policy. Please contact us with any questions! We offer a convenient way to buy and compare Health Insurance Policy also known as Medi-claim Policy in India offered by leading Insurance companies. Not only you can select the best health insurance product that suits your insurance need but also save money by comparing plans. Choose your self right health insurance medi-claim policy Due to the rising cost of health care, it’s necessary to secure yourself and your family by buying Health Insurance (Medical Insurance). Here is how to choose a policy that suits your needs better. It takes several attempts to an insurance agent to convince a customer to buy Health Insurance, but few minutes on billing counter is more enough to understand the importance of medi-claim insurance plan. A simple hospitalization may cost you thousands of rupees from your savings, which definitely causes financial disaster. Dont be surprised as health care costs are rising at a fast clip. If you are looking for a health insurance policy for yourself or for your family, vast array of choices are available in the market. More choices cause more confusion. And one should not be confused when it comes to health coverage. There are individual Policies, family floater plans, critical illness health insurance plans, medi-claim plans for Senior Citizen and many more available in the market. How does one pick a suitable and affordable health insurance plan from the litter? Each type of health insurance policy fulfills some specifies needs. You just have to choose the right one as per your age, your family size and existing cover.Individual Health Insurance Plan :Looking for an individual health insurance plan as it plays a significant role in the health care. Individual Health Insurance Plan is an ideal option for people who do not access the group medi-claim policy or family floater health insurance plan. Insurance premium of this kind of policies is generally high but it does not mean it is unaffordable. Family Floater Health Insurance Plans :Family Floater policies are also very useful for newly wed couples or for those who are already married and intended to start a family in a few years. If you have an elementary family, a family floater plan suits you better. In family floater health insurance plan sum assured is shared between all members and thus is available to all members of the family. It’s unlikely that all the members will require hospitalization in the same year Premium maybe more in case of family floater plan as compared with an individual health plan. We are a reliable Health Insurance Service Provider based in India.
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Travel Insurance
There are so many things to do when you are travelling abroad like getting Visa, airline tickets, arranging hotel accommodation, packing and so on. You are looking forward to a wonderful vacation and spending quality time with your loved ones. However, one thing that is left for you to do is to buy Travel Insurance. Our Travel Insurance is much more than a mere medical cover, it includes many things like personal liability cover, loss of luggage, loss of passport, personal accident etc. And hence careful consideration will make sure that you are financially protected against any unknown liability. We are a prominent Travel Insurance Service Provider based in India.
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Child Education Planning
As a caring parent you would always want your child to get the very best. To ensure that you fulfill dreams that you may have for your loved ones, Child Education Planning for their secured future is very important.With growing standard of living, the expenses for educating your child are rising. If your wish to start planning or saving for your child’s education expense in advance, it always helps to look at insurance as one of the investment avenues. It is a guaranteed product that delivers at the time your child needs the money. Insurance and Your Children’s Higher Education :Like every parent, you must have dreams for your child with the best education. Life Insurance provides you with financial support for your child’s education in case of any unforeseen events. With proper financial planning, you can also grow your investments catering to even bigger dreams of your child.The objective of an insured parent should be to provide for his family’s every day needs as well as provide for his child’s future expenses such as education and marriage. Many insurance policies provide money to you or your child when they are in the age group of 18-26 years.How Much Life Insurance Do You Need? There are two ways of providing for your children : You insure yourself for a large sum that provides for your children’s future expenses, along with the rest of your family’s expenses for the future. In addition, you provide for your child’s future expenses through an insurance policy (in addition to other investments that you may be making) that will ensure shehe receives money at the age you want them to, in your presence or absence. Some Questions to Consider When Calculating Your Level of Life Insurance Coverage : What are your financial goals? In terms of your present requirements, your savings, your financial aspirations - in terms of buying a car or owning a house if you are living in a rented home, etc. In order to reach your goals, what other financial planning strategies do you have in place? For example, if you are planning to buy a house after 2 years, then how much money will you need to make a down payment (if it is financed through a loan)? Can your investments be liquidated at that point in time? Do you want only enough insurance for your survivors to get by financially, or do you want to have enough to encompass higher education andor spouse’s retirement requirements? What Should Your Children’s Policy Cover You For?If you are the parentguardian who is going to pay premium for your child’s policy, ensure that your policy offers you Waiver of premium - In the event of your death or an accident that disables you permanently, this clause is available to the insured parent, where no further premiums need to be paid. Money guaranteed at a certain age - The objective of a children’s policy is to ensure that the child receives a certain lump sum amount of money at a fixed age. Hence, if the parent dies at an early age, the policy should continue, where no further premiums need to be paid and the child should still receive a fixed sum of money at a particular age. Policy should not cease upon death of the insured parent or guardian - Few policies offer the sum assured plus the bonus for the term and discontinue the policy from thereon. Please ensure that if the objective of your purchasing a policy is to provide your child with money at a certain age, your policy does not discontinue in the event of your early demise. We are a reliable Child Education Planning Service Provider based in India.
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Child Marriage Planning
In the flurry of activity and excitement Parents dream of educating their children well. Once this dream is achieved or is nearing completion, parents desire that their children should get married suitably. The financial Child Marriage Planning for this momentous event should start right from childhood so that you are fully prepared and able to meet your and your child’s expectations. Commensurate with your dreams is the expenditure you would like to and are willing to incur. The question then is how much you would like to spend on your child’s wedding in today’s terms? Since you have a certain age in mind for your offspring’s wedding, you have the remaining number of years from now onwards to plan. The planning has to take the following into account : Costs of the wedding in today’s terms Remaining years for the wedding Future costs of the wedding taking inflation into account Financial plan to achieve your target amount Annual review of plan Since this is a top priority goal in your life, investments should not be too aggressive. This calls for the right asset allocation- a mix of debt and equity. Insurance in the form of life cover and disability cover plays an important role as the death of an earning member should not adversely affect your child’s marriage plans. We can help you move successfully towards this important event with the help of our Child Marriage Planning. Talk to our financial adviser for the right asset allocation, implementation and review of the Child Marriage Planning for smooth sailing. We are a renowned Child Marriage Planning Service Provider based in India.
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Income Tax Planning
Planning for your income is not as difficult a question as Income Tax Planning is. The basics of true taxation planning lies in determining when, whether and how to work on business as well as personal transactions to obtain reductions in taxes. Financial Planning Arcades Income Tax Planning Process primarily initiates in covering : The constant review on your necessary investments as well as on spending decisions to minimize the impact of tax returns The examination of the current income type of an individual for offering further growth The application of current laws to reduce the amount of taxable income of individual or business personnel Implementation of the existing laws by deep studying the appropriate as well as usual household expenses To facilitate high net worth clients, allowance of year - long taxation planning services are initiated Work towards simplifying the tax strategies by minimizing the gross income and maximizing the deductible expenses To better our Income Tax Planning process and for keeping it effective for longer period of time, we focus on concentrating on client's personal as well as business income for latter financial years. Depending on the requirements of our clients, we actively concentrate towards those areas where our clients can obtain the maximum savings. We are an eminent Income Tax Planning Service Provider based in India.
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