Loan Against Insurance – A Quick Insight!

A loan against insurance is not common and widely practiced in India. It’s because most of the insurance policyholders are unaware of the facility that’s available along with their policies.

However, if you are faced with an urgent situation demanding money, you can easily avail a loan against insurance.

In the same context, let’s provide you some insights on loan against insurance.

Apart from providing an insurance cover that any insurance policy offers, it can always be utilized to grab a loan to cover some urgent needs at an aggressive rate of interest.

A loan against insurance policy is on offer by leading banks, non-banking finance companies (NBFCs) and other eligible financial institutes. 

However, you should note that a loan against insurance is not available against Ulips or term insurance policies that put your money in equities or equity-based securities.

The Loan Figures

The maximum amount of loan that an insurance policyholder can avail varies as per the policy types availed and surrender value. A loan against security amount that’s provided is nothing but a proportion of the policy surrender value. 



A loan amount that will be finally dispersed could be as higher as 80% to 90% of the surrender assessment in case of endowment or conventional money back insurance policies.

The Documents

To avail a loan against insurance, a loan application form should be filled by an insurance policyholder. The original insurance policy document should accompany the form. 

What’s more, the payment receipt or the invoice of the loan figure and cancelled cheque copy should also be attached to the loan application.

Assignment Deed

An insurance policy also requires being assigned in favour of the insurance company/lending institution as the case. 

A policyholder needs to execute the assignment deed in a prescribed format. Also, the assignment details are authorized in the policy document as well.

Charges

An insurance company or institution may ask for a minimal loan processing charges for crediting the loan amount in your bank account.

Some Other Points to Note and Ponder

Other than taking into account the above-discussed pointers while seeking a loan against insurance, you should also ensure to consider some below points:

The interest rate on a financial product like a loan against insurance scheme is typically much lesser and affordable as compared to a personal loan.

If you see that the interest due on loan is surpassing or exceeding the surrender value, a policyholder may have to deal with the risk of losing insurance coverage.

The Bottom Line

You just went across some of the major aspects of the loan against insurance so that you may be better prepared for it. A loan against insurance is often an ignored product in India, but you can always make the most of it in urgency and cover your needs. All the best!

How to Set Aside Extra Funds for a Rainy Day

If you’re looking to do something on a rainy day, you’re going to need some extra money to do so. Fortunately, there are plenty of ways you can set aside money for a rainy day. Here are some of the best ways you can start putting away extra funds today!

Swear Jar

One of the easiest ways you can set aside money for a rainy day is by establishing a swear jar for the family. The premise is pretty simple, every time someone swears, they put a quarter in the jar. 

Depending on what kind of family you have, the next rainy day you spend together can be a lot of fun not that you have some extra funds to spend.

Savings Account

Another popular way of setting aside some extra funds for a rainy day is to set up an additional savings account at your bank. Simply put two to three percent of your paycheck into this account and watch your funds grow. 



This is a great way to keep your cash untouched until the next rainy day. By the time the next rainy day comes, you’ll have plenty of money to spend with your family or significant other.

Pawn Your Gold Jewelry

One way to add a little bit of cash to your rainy day fund is by pawning your gold jewelry. If you have broken pieces of jewelry or things that you don’t wear anymore, there is no point in keeping them around your home. 

Instead, head down to your local pawn shop and sell them. Alternatively, if you need some quick cash, you can pawn jewelry in your home and return for it later on.

Searching for Change

Another great way to find extra cash for a rainy day is by checking for loose change around your home and in your car. You can likely find some lost money in between your couch cushions, under the bed, in your car’s glove compartment, and more. 

You may even find an old piggy bank that you had forgotten about. You never know how much cash you will come across!

Rainy days can feel pretty glum, but they can get a whole lot better when you have extra funds to spend. Hopefully, with the help of the examples above, you can get a better idea of how you can set rainy day funds aside and enjoy the day off, even if it is downpouring outside.

Guidelines for Locating an Ideal Injury Lawyer Firm

Car accidents are very common and every year millions of people suffer on account of road accidents. In most cases accidents are severe and may need to be settled in the court of law. You need to hire the services of a professional injury law firm who can handle things on your behalf.

Trauma is one of the prime after effects of any road accident. There may be many reasons for people to face trauma including loss of life, vehicle damage or even serious injury. You need to keep in mind that after math of any road accident is always more stressful.

In most cases people are just not aware of the procedure they need to follow after the accident. This leaves you with an option to hire professional Hansen Injury law firm services. Below mentioned tips will prove helpful for making the right selection.

Act quickly

After an accident it is obvious that you need to act immediately and look around for best lawyer. This will ensure that you have all details about the accident with you. 

In order to ensure that you don’t miss any part of the story it is advisable to write it down at the point of accident. This can act as best piece of evidence for you. Try and provide as much information as possible for your lawyer.

Scan your networks

Now it is just the perfect time for you to approach your network. Referrals are always better options if you have to select an injury lawyer. Your trusted family fiends and relates can be ideal choice for you to approach. 




You also need to keep in mind that your referrals can help you locate best injury lawyer. In case you lack your personal network then you can also approach the online source.

Internet, Internet and Internet…

Internet is one of the best options for people who are not having any referrals. You can get started with searching online over the internet for quality Hansen Injury Law firm. 

When searching for lawyer online always ensure that you perform the search according to your local area. It is important that you should be able to visit your injury lawyer in person. Apart from this it will also narrow down the search results for you online.

Research work

The moment you have prepared a list of few reputable lawyers it is advisable to perform your research as well. Check with the background information of the lawyer. 

You should try and collect more set of information about his career and past cases involved. If the lawyer is genuine he will always try and provide you with in depth information related to his past work history. 

Try and get information related to his experience, area of expertise and bar association details.

Hiring the services of a professional injury lawyer will assure that you will be able to claim for maximum compensation. This is a big help in case you have just faced a very serious accident. It will prove helpful in covering your losses.

Tackle Those Big Events in Your Life by Investing Wisely Today!

All the big events in your life deserve to be memorable. For this to happen, you need to make smart investments by starting small today to guarantee good returns and capital gains. Choose investments that help you not only save, but also productively use your income. The correct investment portfolio can help fund your life’s big events.

Here are some of the big events in your future that may need financial consideration:

1. Marriage: You will be required to spend money on various aspects like caterers, venues and event planners. An average wedding in India costs around Rs.15 lakh to Rs.20 lakh.
2. Education: Tuition fees for higher studies, especially overseas, are a big expense. You may also need to fund the education of your children. For example, studying in the US can cost up to Rs.30 lakh per year. 
3. Holidays: Travelling to new places, in India or abroad, can be difficult unless you have a good amount of savings. The average cost per person for a trip to Europe for two weeks is around Rs.3 lakh.

Here are some investment options that you could consider to finance these big events in the future:

1. Company fixed deposits:

1. These are FD (fixed deposits) offered by financial institutions and companies.
2. They offer you attractive interest rates that can go up to 8% and above.
3. This option offers you highly stable and safe returns.
4. These FDs offer you a flexible tenor up to 60 months.
5. They also offer you easy online account management.

2. Debt mutual funds:

These are debt securities like corporate bonds, government bonds and other money market instruments.
These are issued by organisations and government authorities.
They provide you instant gains over your investment.
You can invest in this option over short to mid-term.
They also provide you high rates of return on investment.


3. Recurring deposits:

1. These deposits work on the similar terms like FDs.
2. However, they involve depositing a small amount of money in account rather than a lump sum.
3. They are perfect for salaried individuals who have just started working. 
4. In these deposits, you can invest a minimum of Rs.500 and a maximum of Rs.1.5 lakh.
5. They offer you a rate of return that goes up to 7%. 

4. Public provident funds:

1. This is a provision created by the government that encourages investors to invest money in a public fund.
2. This option offers returns up to almost 8%.
3. It is perfect for salaried employees that wish to save a margin of their income every month rather than investing a huge sum of money at one go.
4. The lock-in period for this investment is up to 15 years. The investment cannot be withdrawn prematurely before the lapse of the tenor.
5. The account can be renewed after the end of the tenor for a maximum of 5 years more.
6. The interest gains for this amount are tax-free. However, the tax can be deducted from the principle at the time of depositing.

These are some of the low to medium risk investment options you can make the best use of to fund the big occasions in your life with ease. Starting early is key to meeting all your major financial expenses and enjoying your life to the fullest.

7 Apps to Save Money

For many people saving money, budgeting and tracking their finances is an utmost difficult. That’s because there are money saving apps are bombarded with a bunch of discounts and offers. Money saving apps have been on trend for the past few years. 

The most attractive thing about these apps is the various offers and cash back opportunities. Want to save more money on shopping, to recharge, to pay bills etc? paytm, phonepe and much more have got your back! 

Now, just by using any one of the apps down and save money by getting unbelievable cash back offers and amazing discounts.

Here are the 7 apps that everyone can save money through: 

Paytm

Paytm has started 8 years ago. It is one most user-friendly, most loved and trusted e-commerce and e-payments brand. Everyone can save money by shopping or by booking tickets online or by recharge your mobile/ DTH/broadband/landline/data card and cable TV or pay your bills for electricity, water, gas, and credit cards. Just add money to your Paytm Wallet and be eligible to pay any other Paytm user. 

You can transfer your Paytm money/cash back to your bank too. Here is best promo code that paytm offers to save money on buying groceries up to 200/-

• paytm newly introduced this promo code ONCEAMONTH. But above 300/- purchasing products are available to use this promo code. And this offer is only applicable for once in a month. You can save 200/- per month. 

likewise there n number of discounts and offers and promo codes are available in paytm. Use BHIM UPI to pay to get additional Rs. 30 cash back for your first UPI based transaction on Paytm. Get the Paytm app for free on the Google Play Store and App Store.

Phonepe

Phonepe! It is one of the brands. By using phonepe everyone can receive instant refunds and cash backs from your favourite shopping destinations. 

Just link your bank account to the phonepe app and make secure payments and hassle-free directly from your bank account 24/7. They are providing multiple payment modes; make your daily payments seem less by this one, use your UPI enabled bank account, phonepe wallet or your debit and credit card. 

If you use phonepe for everyday payments for mobile recharge, utility bills and for booking tickets etc., you will get 70% cash back offer. Recently, phonepe introduces gold sell option. You can buy gold at a reasonable price. Get the phonepe app for free on the Google Play Store and App Store.

• You can save up to 50% of your money on payments via UPI transactions. 

And there are various offers providing to save money like on DTH recharges you can get upto INR 300 cashback.

Free charge

Freecharge is one of the recharge and bill payments brand and as its name suggests, it offers you cash back in wholesale! Free recharge’s goal is to provide you with free recharges by offering you the same amount of coupons as the recharge amount. 

Use free charge app and get coupons for exciting fascinating clothing brands, restaurants, movie tickets and many more. Also get cash back on your transaction using your Freecharge account at a merchant’s website. 

Ultimately, you can save money on this app. you have an opportunity to save up to Rs. 100/. Freecharge is available for free on Play Store and App Store. 

• Everyone can save up to 150/- rupees on postpaid bills. 

MakeMyTrip

MakeMyTrip is one of the money savings apps by giving special discounts on travelling. It was started 18 years ago and successfully leading with best customer satisfaction till now. MakeMyTrip offers great offers exclusive discounts and a seamless online booking experience. 

Flight, holiday and hotel bookings through the website or mobile app is a delightfully customer-friendly experience. By just a few clicks you can complete your booking. Ultimately, this one gives instant discounts, my rewards program, fare calendar, my wallet and many more. 

By just sign up and by inviting referrals chances to earn money to 555/-. Download the MakeMyTrip app from the Google Play Store or App Store for free.

Mobikwik

Mobikwik is also one of the money saving app. It allows you to pay for hotels and bus tickets along with mobile recharge and payments. Add your money to Mobikwik wallet and enjoy cashless payments in major stores and vendors using Mobikwik. 

In their 10 years of presence in the e-payments industry, Mobikwik has managed to catch a lot of attention because of its eye-catching Rs. 150 cash back offers and also allows you to convert your Payback card points into super cash and can be used for payments. Get the mobikwik app from the Google Play Store or App Store for free.

• By applying online recharge offers everyone can save money up to 15/- 

Tez

Tez is a mobile-friendly payment service provided by Google. This one asks for your mobile number associated with your bank accounts to set up the app. We can get cash back by transferring money. 

After a referral, both people will get the money added to their bank's accounts. By transferring amount every time you can get a scratch card only once in a week. Scratch card gives the user the chance to earn up to 1000/- like this you can save money. Download Tez app from the Google Play Store or App Store for free.

• Google is offering users 51/- for referring new users to use the app by this you can add money to your bank.

payZapp

PayZapp is a complete payment solution giving you the power of pay and offers in just one click. Just download the app and link your debit or credit card by scanning it and you are good to go. Get amazing offers on the same. Best deals on shopping, dining, travelling, and movies are here.

• Use coupon code “ACTIVE” to get Rs. 25 cashback on Rs. 100 DTH recharge amount. So, everyone can save money up to 25/- 

Now make instant payments at malls, restaurants, cab service and much more using PayZapp to avail cashback. Get the payZapp from the Google Play Store or App Store for free.

By the introduction of above money saving apps, life is becoming easier day by day and practically free. Cashback and discounts are so readily offered, and basically, online payments save a lot of time and money and provides extra discount/cashback using online recharge offers. Go ahead with these amazing savings apps online today!

Understanding Social Security: 4 Facts Everyone Should Know

Social Security was a program implemented by the U.S. Congress in 1935 to provide a steady income for older individuals and others. It has provided for millions of American since its inception and is one of the most revered programs provided by the nation’s government. 

However, Social Security has complex rules and restrictions that can be confusing. Here are some of the most basic points of the Social Security system that you should keep in mind.

Not All Employment Contributes to Social Security

If you earn wages from a company, your employer will deposit money into your Social Security account held by the government. If you are self-employed, you will have make the deposits to the government yourself. 

Unless portion of your earnings are deposited to your Social Security account, the wages will not be calculated toward your benefits.

Disability Can Qualify You to Receive Benefits

Social Security is not just a retirement program. It provides income for individuals who are unable to work because of illness or other disability. The rules regarding these cases are complex, and application for benefits can take some time complete. 

You may require an attorney experienced in social security disability benefits to help you navigate the application process.

Applying before Full Retirement Age Reduces Your Benefit

You can begin to receive Social Security benefits as early as age 62, but the amount will be less than if you had waited until full retirement age. Full retirement age is currently 66 years of age for those born between 1943 and 1954. 

If you apply at age 62, your benefit will be reduced by 25 percent. At age 63, your benefit is reduced by 20 percent. At age 64, benefits are reduced by 13.3 percent. And at age 64, benefits are reduced by 6.7 percent.

Years to Qualify for Divorced Spousal Benefits

Individuals who are at least 62 years old may receive benefits under the account of a working spouse if the working spouse has applied for their own Social Security benefits. 

However, if you are the divorced partner of a working spouse, you may receive benefits even before your spouse files for benefits, if he or she is at least 62 years of age. You must have been married to the working spouse for at least 10 years.

Social Security can be a puzzling system, with many requirements for different circumstances. The complex rules have evolved over time to cover a variety of situations that arise in modern society. 

You can find a wealth of information about Social Security benefits on the Internet, along with phone numbers that will connect you to individuals that can answer your questions. 

These resources can provide the information you need to determine whether you are eligible for benefits and the best ways to utilize these benefits for your particular needs.