Finance

A credit card comes in handy for various transactions anytime and anywhere, whether you’re shopping online or visiting a mall. If you need cash, you can use the card to withdraw from your closest ATM. If you need to make an urgent payment, like for a medical emergency, the card is very useful there too. It is also convenient to carry. Additionally, if you pay off your dues on time, you can enjoy all the benefits without paying any interest fees.

So, here are 5 important features that a good credit card has.

#1 – Lowest Interest Rate

Interest charges are levied by the issuer if you are unable to pay the dues by the due date. It is good to be aware of this date and plan your financials such that you have the money when the payment becomes due. However, there may be times when this is not possible. In such circumstances, it helps to have a card with the lowest interest rate.

A credit card with the lowest interest rate ensures that:

• The charges are much less when you are unable to repay the outstanding amount.
• You can make the complete payment more easily.
• You can clear your dues faster and maintain a good credit score.

There are some things you can do to lower the charges:

• Try to keep your credit card spending within your budget.
• Pay as and when you have money, instead of waiting for a day on which you have the complete outstanding money ready with you.

#2 – No Annual Maintenance Fees

Some issuers charge an annual maintenance fee to keep your credit card account open and continue using the benefits. A good credit card comes with zero annual fees. Even better, a lifetime free credit card never charges annual fees for your life!

#3 – Zero Over-the-Limit Fees

When you use your credit card for transactions exceeding the assigned credit limit, an over-the-limit fee is charged. Luckily, some credit cards don’t charge this fee at all. This can help when you need to buy certain things, like furniture for the house or some home appliance or pay for some repairs before selling a home.

#4 – Reward Points

Always check the reward points offered when comparing credit cards. This means, every time you spend money, you earn some points. You can redeem these when you need to buy something.

The best credit card boosts your experience of earning rewards with the following offers:

• Up to 10X reward points or credit points.
• Credit points aren’t capped. So, they’re limitless!
• No redemption fees on using rewards.
• Credit points don’t expire. So, you won’t lose them!
• More reward points on online credit card transactions than offline.

#5 – Offers at Multiple Partner Merchants

Some credit cards have tie-ups with many leading merchants and popular brands. These cards offer time-to-time discounts on:

• Health and wellness services
• Travel
• Shopping
• Education and upskilling
• Dining
• Other services

Regularly check the site issuer’s site to know which deals and discounts are currently being offered.

Pick a credit card with useful features and various benefits. Being aware of the facilities allows you to use them smartly.

In today’s digital world, you want anything and everything completed as quickly as possible, and cards provide the option for payments. One of the biggest pros of a credit card is the EMI feature, which makes big purchases easy. But credit cards come with their fair share of downsides, which makes one curious to all and any better opinions available, especially whether you can avail the benefit of emi without a credit card. Here’s a little list of alternatives for credit cards.

1. UPI

• The Unified Payment Interface (UPI) lets you use  your mobile as a virtual debit card thanks to a new payment model. It has also made instant money sending and receiving possible.
• What is UPI
  UPI is a  platform that brings together a variety of banking services and features into one place. To send and receive money, all you need is a UPI ID and PIN. A mobile number or a virtual payment address may be used to make real-time bank-to-bank payments (UPI ID).
• Benefits

UPI payment is easy, fast, and secure. For transactions, there is no need to add a beneficiary. There are no processing fees on UPI purchases, unlike with a credit card.

2. Debit Card

Credit cards and debit cards look nearly alike and can also make it simple and convenient to make transactions in stores or online, but they have a fundamental difference.

• Debit cards allow you to spend money by withdrawing funds from your bank account.
• Credit cards allow you to borrow money from the card issuer for purchases or cash withdrawals up to a certain amount.

When you use your credit card to make a purchase, the bank is legally paying for it, and you are obligated to pay the bank that amount once the bill is generated.

A debit card is more convenient and less stressful  because it allows you to spend within your financial means without accruing debt or incurring potential interest. Using a credit card is appealing because you can spend much more than you have available cash, but the downside is that you will ultimately be responsible for repaying the debt or loan.

3. EMI cards

Nowadays, EMI cards are becoming a more common way to make transactions. EMI cards use the Equated Monthly Instalments concept to make the process of borrowing to finance a purchase easier and more seamless.

The Bajaj Finserv EMI Network Card is one of the most hassle-free and convenient EMI cards.

• What is the bajaj finance card

The Bajaj Finserv EMI Network Card makes transactions simple by using No Cost EMIs. It includes a pre-approved loan that can be used to make purchases. You can then turn these costs into easy equated monthly instalments (EMIs) that you can pay back with great convenience. With the bajaj finance card, you can take advantage of a variety of exciting deals and discounts.

• Why you should get the bajaj finance card

1. Pre approved loan

   The Bajaj EMI card comes with a pre-approved loan. The exact amount is determined when you apply for an EMI card. Bajaj Finserv does not require any additional approval or authentication at the time of purchase. The card is used like a regular debit or credit card

2. Big purchases

The EMI Card allows you to shop for almost everything, including lifestyle items, electronics, home, kitchen, and furniture products, fitness, travel, and fashion. These items are available for purchase on the Bajaj Finserv EMI Store or any of the online partner stores in India, which number over 84,200.

3. Easy Repayment

   Repayment is simple and there is no down payment needed. It is a no cost emi option

Conclusion

It’s obvious that EMIs are a boon to millennials, so it’s only natural that financial payment instruments have created a way to borrow without delay when making those purchases. The Bajaj Finserv EMI Network card was well-received.

They function similarly to a credit card in that you must swipe them to complete the transaction. They do, however, cater to individual transactions, making them more tailored to the needs of any prospective customer.

Source:

https://www.bajajfinservmarkets.in/emi-card/articles/shop-on-emi-without-having-a-credit-card.html

https://www.bajajfinservmarkets.in/emi-card/bajaj-finserv-emi-network-card.html

https://www.bajajfinservmarkets.in/emi-card/bajaj-finserv-emi-network-card-benefits-and-features.html

 

A billion-dollar industry has grown up over the past decade around sharing resources such as temporary jobs, transportation, and housing. Along with this explosive growth has raised questions about safety and background checks. These screenings fall outside the standard protocols but are nevertheless critical to ensuring all parties’ integrity. At the moment, there is no standard across the industry for background checks, leaving questions such as the following unanswered:

What constitutes a background check?

The phrase “background check” means vastly different things to different people. Is it an online search of social media and public records, a deep dive into an individual’s history, or something in between? Claiming your organization does background checks gives very little information about the credibility of the results. 

Again, what does a background check mean?

Even if a sharing economy background check standard is established, the devil will be in the details. Not every background check is created equal. Consider the following nuances in the process:

• Did the background screener search counties adjoin those where the individual lived for criminal records?
• Were international records checked?
• Did the background check look into gaps in employment history?

These are just a few of the numerous details that need to be considered when defining and standardizing peer-to-peer background checks.

How are identities checked?

A critical component of a background check is identity verification. In a traditional employment situation, the candidate undergoes a personal interview during the application process. The employer can visually compare the person with their identification. However, in the sharing economy, it’s not unusual for transactions to take place 100% online; the parties never meet face to face. Without a personal meeting, it’s impossible to know whether the background being checked belongs to the individual in question or someone else entirely. Said another way, people concerned about their ability to pass a background check can circumvent the process by submitting another person’s details. 

The Future

As the sharing economy continues to grow and expand, so will the risk of consumers being hurt by criminal providers. Developing a standard for background checks will benefit consumers and providers. Such an approach will allow providers to demonstrate a commitment to safety and distinguish themselves from their competitors. This can only be accomplished when all the relevant stakeholders – consumers, service providers, legislators, and screening professionals—come together. With the right due diligence and the help of advanced technology and background check experts, a clear protocol can be defined that helps all parties involved. 

Being an investor means monitoring the trading market several times a day. Stock analysis is an important task for investors to find potentially profitable stocks. Do you know what do investors require for stock analysis? It is technical and fundamental analysis. Many of you are already aware of what technical and fundamental analysis is. But for the sake of the beginners who have just begun in this platform, we will give you a brief overview. 

Technical analysis 

Technical analysis is the study of the market theoretically. It means to study all the theories and technical sectors of the market. If you are a medical student then you will have to study some terms and acquire some knowledge that the civilians don’t need to learn. Without this knowledge, you might not be able to pursue a career in the medical sector. 

Similarly, for investors, technical analysis is a matter that helps them to pursue a career in the trading market. There are several technical tools and terms that the investors need to know about to accommodate in this market easily. A medical student requires to know how a stethoscope pr a scalpel works. In that manner, one needs to know how a chart or a trend line works in the trading platform. 

If you are unable to identify a trend in the market then you will not be able to know the perfect timings to enter a trade. That is why every investor needs to have a thorough technical study of the market. They must get familiar with the market as it helps a lot with the trading sentiments of the investors. 

Fundamental analysis 

Similar to technical analysis, the fundamental analysis consists of a major portion of importance in the career of a trader. Now, even though you will need technical analysis to read the market, the market always doesn’t follow the numbers. Even though your speculation indicates a rise in trend, the market may fall overnight and start moving in the complete opposite direction. So, if you dig deep inside the market, you will see that some factors worked behind changing this market in the reverse direction. 

News events usually take place at a specific time and so maintaining an economic calendar is very helpful when you are trying to avoid intense volatility. You will never regret looking at these events as they can help you speculate the market better. Take a look at the top Singaporean traders’ post. Visit company website of Saxo and learn about the impact of fundamental factors. Once you develop the skills to analyze the news event, you will never trade major stock without evaluating the news.

Price to earnings ratio

Price to earnings ratio is one of the most common ways to evaluate the stock market. Its calculation is done by dividing the per-share value by earning per share in the stock market. Comparison between the ratios in the market helps the investors to understand a better trading opportunity. A low ratio is considered a favorable condition for the investor to invest in some share.

Earnings per share

This is another indicator to analyze the stocks in the market. This is a great way to see how effectively the revenue of the company is flowing towards the investors. The higher the earning per share ratio, the better for the investors in their trade when this ratio is higher, it means, it is worth investing in the trades of that company. 

Book value

Book value is a great way to determine the undervalued but high-growth companies that have a higher chance of earning per share. This way is helpful for the investors as they look for low competition with a high-profit value.

These indicators are frequently used by many stock market participants to have better speculation of the stock market and this has given them a better outlook in the trading market than ever.

Is dollar cost averaging really all it’s cracked up to be?

If you have been looking to make an investment, you may have come across the idea of dollar cost averaging. But it’s hard to know if this is a good idea unless you really understand the concept.

In this article, we will take you through the idea behind dollar cost averaging and point out the main benefits and uses of this investment technique. So, let’s jump straight in and prepare ourselves to invest!

What Is Dollar Cost Averaging?

Dollar cost averaging is a basic investment technique in which you invest an even amount of money in an asset over time, without worrying about its market price.

For example, you might decide to invest in a commodity over the course of a year. What you would do is decide your total investment amount and then divide it evenly across different intervals.

To make things simple, we will say that the total investment amount is $12,000 over the course of a year. To use the method, you would invest $1,000 each month for one year to make your total investment.

The main idea behind this investment is to not be affected by changes in the value of the dollar over time. Effectively, you are averaging the dollar price over a given period.

The reason you want to do this is that the dollar cost can be quite volatile because of various changes to the overall market.

Is It a Good Idea?

Dollar cost average has been favored by many investors who see it as a conservative way of benefitting from overall market growth, without trying to make complex predictions of peaks and troughs in market value.

For this reason, you are unlikely to make any massive windfall from your investment. It is not the same, for example, as the idea of day trading. This method seeks to make short-term gains on the volatility of the market during very short periods of time.

Using the dollar cost average method has a much longer-term outlook.

This means it is a very valuable investment technique if you are not prepared to risk your savings being quickly depleted.

This is why it is used in many 401(k) plans for retirement investment. You do not want to risk your retirement savings on the volatility of the stock market, but you also want to see it generally appreciate.

For this kind of investment, dollar cost averaging is perfect.

Investment Is a Personal Matter

Before you make any kind of investment, you need to be sure that what you are doing is right for your personal situation. A lot of us can be fooled into thinking that it is easy to make money on the stock market.

But the truth is that it is not easy to make large, quick gains on investments. If you cannot afford to lose the value of your investment, you shouldn’t listen to the advice of get-rich-quick investment schemes.

Dollar cost averaging is a much more secure and trusted method of making your money grows over a long period of time.

If you’ve found this information useful, why not check out some of our other great articles on investments?

How to Negotiate Salary

You might be getting a new job or maybe you are being promoted at your current one. You know what is the thirst thing keep in mind? Negotiating the salary. An astonishing amount of people do not even think about doing this because it seems scary. Because they might seem demanding and hurt their position at their workplace in the long run. Well, that is not the case. If you know your worth you have to stand up for yourself. Of course, you need to be realistic as well. You cannot ask for more than you are able to deliver. It is as plain as simple as that.

Only about 37% of people negotiate their salaries. That number is quite low, and you can change that for yourself. Let us give you a good example of why even a little amount can put you upfront. If a colleague in the exact the position who does the exact amount of work like you gets a couple thousand dollars more per year it will count in the long run. Say you get $100,000 and he gets $107,000. It will take you up to eight years longer to be as wealthy when you retire. Now that sounds like a huge amount of working time, right?

Now, to help you in your quest for a bigger salary, we will give you some insight about the best things to do and how to do them in this regard.

Know Your Value

First things first, you need to know what value you are bringing to the employer. You should not embarrass yourself by asking an inexplicable sum of money. That is now how it goes. You need to gather information about the rates for people working in your professional industry and on the same position. Take into account the geographic area. If you walk in without any back knowledge in regards to how people in similar fields earn you will be starting the conversation with the wrong foot. After the employer makes the offer, how will you know if it is even remotely fair? So, make your homework when it comes to how much you deserve.

Also, if you know that some other people might be offering more or that they already made you a better offer, state that out and clear if it is the case. If you are in this position you can only win. You are in control in regards to accepting a lower fee or not. Ask for more than the competitors and bargain until you feel you got the right amount. If they will not play fair, take your dignity and leave to the other workplace.

Good online places to conduct research about salaries and so are websites like Payscale and Glassdoor. You might be amazed at what kind of valuable information lies there waiting for you.

Rehearse Your Speech

Go prepared! Go prepared regardless of the circumstances.

If you are a man you will find a lot of great resources on how to be more confident here.

Sometimes, you might even need to be ready to bluff. That’s how life goes. Considering that most corporations will get rid of you the next second that you are not profitable, make sure to take out the most from them as well. Look in the mirror at home and start speaking. Do not get us wrong, we are not advising in being aggressive, but rather having strong will. Do not let your standards bend for any workplace. That is how the employers are also kept in check by the working community.

Now, it is also important to ask for the top range. We know that since you might be a good guy, you will be decent enough to ask for what might to be the more realistic middle. Bad move! Ask for the most possible because your employer will definitely negotiate you down. That is how you will make sure to soften the fall. You should also go to the meeting thinking that you are really entitled to the top pay. For all we know, you might very well be.

Also, try to ask for a really exact number. Say $4850 instead of $5000. This trick will make it look like you know the market very well. It turn out that by doing so you are more likely to score a better salary offer by being closer to what you asked for.

Is It Really Time?

If this is not a new job that you are hunting for, then the amount of time you have been around is super important. You need to have been working for that employer for at least one year before asking for a raise. The only exception for asking before that mark is if you have an absolutely marvelous efficiency rate. Then yes, go ahead and ask to your heart’s content.

If you are not a genius at that job, then you should take into consideration the following:

• How long have you been working there
• How many new responsibilities have you take since you have been hired
• If you have been exceeding expectations

If you can checkmark all of the above, you are in the green zone.

What you can do is to create some sort of plan for your future before asking a raise, this way you will know when is the time to make the move.

Another good thing to keep in mind is the time and setting you will be asking your boss for a raise. If you wait until the performance review seasons, he might already have a plan in his mind with a number for each person. That might be really hard to tackle. So, considering this, start talking to him about a raise three to four months in advance.

Now, how do you feel about getting that bigger salary? Do not get the feel of restraint because of ultimatums. If you do not have a family at home that requires you to support them, this should be all just a game your you. Play it cool and patiently. And, in our opinion, the most powerful characteristic from all of the above is the power to leave if you feel underappreciated. With all this being said, we hope you get the maximum out of your negotiation!

A good financial plan in place is very important to build wealth. They help you achieve your goals and live the life you have planned for you and your family. Following you’ll find important steps to create a good financial plan for you:

Discover where your money goes right now

The first and foremost step to create a good financial plan is to analyze where your money goes currently. Start jotting all your expenses in a notebook. You can opt for a tech-savvy approach wherein a personal finance app keeps track of all your expenses for you. Continue doing this practice for 3-4 months.

Write down your financial goals

Having correct financial goals is the foundation for achieving financial freedom. After all, it’s important to know what you want to achieve in order to actually achieve it. However, make sure that your goals are SMART – Specific, Measurable, Attainable, Relevant and Time-based. Also, prioritize these goals and try to break them into smaller chunks so that you don’t get overwhelmed.

Create an emergency fund

It’s crucial that one of these goals includes a plan to deal with the uncertainties. You need to make sure you are prepared to face the storm. Failing to do so would result in adding on to the debt with every financial bump in the journey. Financial advisors recommend stashing at least 3 to 6 months of your salary.

Pay off your debt

You can’t kick start a financial future if the burden of hefty debts is holding you down. Make a debt pay-off strategy and be patient yet consistent while working towards being completely debt-free. This will always help you to increase your credit score.

Start building a portfolio

After saving enough for an emergency fund, start building your portfolio. For new and seasoned investors, the easiest way to build a portfolio is by investing in mutual funds. There are several types of mutual funds like equity mutual funds, debt funds, etc. available to investors that they can choose from according to their goals.

Track your mutual fund investments

It’s important to keep track of your investments. Manage your financial plan to ensure that it remains congruent with your current financial situation. Tracking your investments also helps you to understand if they have performed according to your expectations.

Plan for taxes
Yes, taxes are annoying but they are a part and parcel of your life and sadly your investments. They are not going anytime soon. Not planning for taxes can hamper your cash inflow in a major way. You can avail the services of a financial planner or tax accountant to ensure that your plan is tax-efficient.

Creating a financial plan requires work and patience. Owing to the diversification offered by mutual funds, a lot of investors prefer investing in mutual funds online. Remember, this is your journey, and only yours, nobody else’s. So plan accordingly. Happy investing!

The rising cost of medical care is leading to an escalated unaffordability of treatments. Much can be attributed to the Indian healthcare market being price-sensitive and volume-driven. In an attempt to deal with the growing healthcare-related financial gap, the government launched initiatives like the National Health Protection Scheme under Ayushman Bharat. Following up on these changes, health insurance penetration is expected to go up from 34% to 50%.

Taking a cue from the escalating healthcare expenses owing to the inclusion of state-of-the-art medical technologies, individuals now opt for informed health insurance renewal options. It is ideally imperative for individuals to consider that each insurance cover caters to customised medical requirements. Accordingly, it is ideal to incorporate any modifications required during renewal.

Insurance companies offer health insurance policy renewals which are simple to understand and easier to follow up on for the benefit of customers. Nonetheless, taking into account that policy renewal presents individuals with an opportunity to bring in the required alterations in their cover, they should take into account a few pointers before renewing their health insurance in India.

https://www.youtube.com/watch?v=j0fLRSYA3KQ

Things to consider before renewing a health insurance policy

• Addition of members to a policy

During a health insurance renewal, a policyholder can include or omit family members under their availed cover. Accordingly, the necessary changes are made to existing terms of a policy.

• Check in the fine prints for alterations in policy terms

The IRDAI has mandated the communication of changes-to-be-introduced in terms and conditions of a cover to a policyholder, 3 months in advance.

Conversely, any changes that the insured wants to introduce should be notified to the regulator for approval. Considering that such health insurance covers are designed to insure an individual in cases of illness or accidents financially, it is essential that an insured readers through the fine prints before renewing one. It is vital to note terms of coverage if changed during the renewal.

Such informed decision ensures that individuals make the most of their availed cover, and mitigates chances of any discrepancy in the policy details that policyholders are not aware of. Following any such unforeseen situations, they can always opt to change their insurers.

• Change insurer if need be

In case a customer finds another insurer offering better terms of coverage than the existing insurance, they can look into the portability option when the existing policy is up for renewal. With such add-on facilities, an insured can opt to port their policy sans losing out on benefits like a no-claim bonus or waiting period. Consequently, in the case of –

• Sub-limits,
• High premium cost, or
• Minimum benefits,

– make sure to check for terms like convenient portability. Also you should consider checking whether your current insurer will be able to offer better coverage terms on renewal.

For other helpful plans, you can buy Pocket Insurance plan & Subscriptions offered by Bajaj Finserv, where you can either –

• Pay for the treatment and find the amount reimbursed later, or
• Go to a hospital within the operational network, wherein the treatment costs are covered right from the start.

With the best health insurance cover, you can avail a type of policy that best suits your requirements –

• Individual Health Insurance Plan
• Critical Illness Insurance cover
• Senior Citizen Health Insurance Policy
• Group/Employee Health Insurance Policy
• Critical Illness Health Insurance Plans
• Options to increase the sum assured

Taking into account the increasing cost of healthcare, an existing health insurance policy may not offer sufficient insurance coverage. Under such circumstances, an insured can request to increase the sum assured during health insurance renewal.

• Disclosing new medical conditions

In line with the updated IRDA 2016, insurance companies are not allowed to impose new conditions in case of disclosure about new medical conditions during the renewal of a cover. However, the company may ask for documents to substantiate a policyholder’s medical declaration.

In addition to the factors mentioned above, remember to include features like an additional coverage such as a top-up health insurance policy that comes with an affordable premium amount, floater coverage, and customised features.

Considering the boosted demand for health insurance policies, it is ideally imperative to opt for health insurance renewal to ensure continued financial security against illness or accidents. Make sure to read the terms of coverage and understand the most beneficial features.

Most people who buy life insurance do so to take care of their families. If you are young and have children, it is very important that you consider your family’s needs if you should pass away unexpectedly. Plus, if you are younger, you can buy a life policy for a far cheaper price than when you are older. That is why this type of product offers an ideal financial cushion for a young professional with young children in his or her household.

What Will Your Family Need When You Die?

When you review life insurance in Thailand, you need to consider the amount of money that needs to go to your family so they can still carry on in the same way as they did before your death. What will your family need to sustain themselves when you are gone? How much is your mortgage or house payment? You don’t want your family to sell the family home that you have put a large sum into maintaining. This is an important consideration when you are looking at life insurance packages.

Also, what will your children’s educational needs be? You also have to factor how much money to leave behind to take care of your children’s education. You don’t want them to be faced with a bleak future because you failed to plan in this respect. While you don’t like to think about buying this type of product, you still need to do so to make life easier on your family.

Do you really want to burden them financially if you should die unexpectedly? While you may not die of an age-related disease, you could get killed on the job or in an accident. Younger people tend to be less careful than older people and therefore can die in car accidents or on the job. You need to make sure that you cover any possible emergency. If you don’t make this type of decision, you can place your family in financial jeopardy.

While you don’t want to save money and not buy enough insurance, you also don’t want to purchase too much coverage. Therefore, you need to carefully consider each plan and the overall amounts you spend on living. You also have to project the amount that will be spent in the future for your children’s educational needs.

Spend Money on Only What You Need for Coverage

When you plan a budget and lay out a plan for your life insurance coverage, you can easily adjust if needed. That way, you will only spend money on what you need in this type of financial protection. Make sure that you only buy what is needed. Otherwise, if you buy too much, you could void the plan. Sit down with an insurance professional and show him or her what you spend each month on your mortgage and regular household expenses. Demonstrate to him or her why you need a specific amount or protection.

If you buy life insurance in this way, you can plan for the future and also buy products such as whole life insurance that will add to your future savings and investments. Make sure that you and your family are protected financially. Don’t negate the value of life insurance products in Thailand.

Time will come that you will notice white hair starts to grow more and more and wrinkles start to put a frown on your face. You are growing older. Your responsibilities grew bigger and your outlook on life has totally changed.

As people grow older, their outlook in life is geared towards having security that is why a lot of us want to get life insurance which is an indispensable and also a fundamental way to plan out financially.

For many years, life insurance has given a lot of people around the world the peace of mind considering that the money is always available to secure their family and their assets in different ways. If you are doubtful about getting a life insurance, maybe this post from https://www.iselect.com.au/life/ will convince you to inquire for the best life insurance you can get now.

1. Enables you to pay the final expenses– It is inevitable that you will carry the financial burdens of a funeral and burial of your loved ones or even for yourself which costs you tens of thousands of dollars in minimum, and you do not want to be caught off guard when this unfortunate event happens to your family that is why a life insurance is very important to cover this kind of problem.
2. Cover’s your children’s expenses– Parents want to make sure that their children are well taken care of and have a secure future for their education, particularly in college that is why part of a life insurance is also education which is an additional coverage that absolutely considered as an essential way for your children to have quality education and a secured future.
3. Alternative income for your spouse– In case you die unexpectedly or your spouse passed away and your children are still young, you would have needed to maintain or replace the income of your spouse or yours to keep your family secured financially and provide the much-needed financial support that is essential for their needs and their lifestyle.
4. Payment for debts– Another coverage that life insurance can provide you is to help you pay off your debts such as mortgages and loans so that you would not have to sell or declare your assets as collateral for the debt that you are paying.
5. Used to purchase shares from your business partner– In terms of business, life insurance can be used for purchasing the interest from your business partner in case the latter passed away unexpectedly. This can be done by purchasing the interest from your business partner’s heirs and pay your business partner’s share of the company’s obligations without the need to sell the company itself.