#Premium waiver benefit

[techminsolutions]

LIC’s Bima Jyoti Plan for 2024: a comprehensive guide

Unlock the Benefits of LIC’s Bima Jyoti Plan: Secure Your Future Today In today’s uncertain world, securing your future and that of your loved ones is more crucial than ever. The Life Insurance Corporation of India (LIC) presents an exceptional opportunity with its Bima Jyoti plan, a non-linked, non-participating, individual, limited premium, life insurance savings plan. This plan is designed to…

[insert-witty-user-name-here]

50+ Good Things from the Biden Administration

Just a list of 50+ good things the Biden Administration has done in the last 4 years because I’ve been hearing too much rhetoric that it doesn’t matter who you vote for. It does make a difference. 

Increased access to healthcare and specifically codified protections for LGBTQ+ patients against discrimination. (x) 

Strengthened women's reproductive rights by increasing access to reproductive health care, improving confidentiality to protect against criminalization for patients receiving reproductive care, and revoked Medicaid waivers from states that would exclude providers like Planned Parenthood, and more. (x)

Expanded healthcare and benefits for veterans through the PACT Act (x)

Cemented protections for pregnant and postpartum workers through the Pregnant Workers Fairness Act and PUMP for Nursing Mothers Act. 

Improved access to nursing homes for those who receive Medicaid services and established, for the first time, a national minimum staffing requirement for nursing homes to ensure those in their care receive sufficient support.  (x) 

Lowered healthcare costs for those with Medicare which capped insulin for seniors at $35 a month, made vaccines free, and capped seniors’ out of pocket expenses at the pharmacy through the Inflation Reduction Act. 

Fully vaccinated 79% of American adults against COVID-19 (I know this is old news now this is a big deal) 

Banned unfair practices that hide housing fees from renters and homebuyers when moving into a new home (x) 

Reduced the mortgage insurance premium for Federal Housing Administration (FHA) mortgages and clarified that inflated rents caused by algorithmic use of sensitive nonpublic pricing and supply information violate antitrust laws. (x) 

Increased protections for those saving for retirement from predatory practices. (x)

Helped millions of households gain access to the internet through the Affordable Connectivity Program. (x) 

Restored net neutrality (net neutrality is a standard which ensures broadband internet service is essential and prohibits interna providers from blocking, engaging in paid prioritization, and more.) (x)

Increased protections for loan holders as well as increased access to loans (x)

Cut fees that banks charge consumers for overdrawing on their accounts. (x)

Reaffirmed HUD’s commitment to remedy housing discrimination under the Fair Housing Act (which was– surprise, surprise– halted under the Trump administration). (x)

Rejoined the Paris Climate Accords.  

Listed more than 24 million acres of public lands across the country as environmentally protected and has channeled more than $18 billion dollars toward conservation projects. (And revoked the permit for the Keystone XL pipeline amongst others). 

Invested $369 billion to reduce greenhouse emissions and promote clean energy technologies through the Inflation Reduction Act. Through the tax incentives under the Inflation Reduction Act, renewable energy (such as wind, solar, and hydropower) has surpassed coal-fired generation in the electric power sector for the first time, making it the second-biggest source of energy behind natural gas. (x)

Strengthened protections against workplace assault through the Speak Out Act. (x) 

Increased protections for workers during the union bargaining process (x)

Is making it easier for passengers to obtain refunds when airlines cancel or significantly change their flights, significantly delay their bags, or fail to provide extra services when purchased. (x)  

Invested $1.2 trillion into roads, waterlines, broadband networks, airports and more allowing for more bridges, railroads, tunnels, roads, and more through the Inflation Reduction Act (which also added 670,000 jobs). (idk about you but I like driving on well maintained roads and having more rail options).  

Strengthened overtime protections for federal employees (x)

Raised the minimum wage for federal workers and contractors to $15. (x)

Strengthened protections for farmworkers by expanding the activities protected from retaliation by the National Labor Relations Act and more. (Previously anti-retaliation provisions under the National Labor Relations Act applies mostly to only U.S. citizens) (x)

Invested $80 billion for the Internal Revenue Service to hire new agents, audit the wealth, modernize its technology, and more. Additionally, created $300 billion in new revenue through corporate tax increases. (x) 

Lowered the unemployment rate to 3.5% — the lowest in 50 years. 

Canceled over $140B of student debt for nearly 40 million borrowers. (x)

Strengthened protections for sexual assault survivors, pregnant and parenting students, and LGBTQ+ students in schools through an updated Title IX rule. This updated rule strengthens sexual assault survivors rights to investigation– something that had been gutted under the Trump administration, strengthens requirements that schools provide modifications for students based on pregnancy, prohibits harassment based on sexual orientation or gender identity, and more. (x)

Revoked an order that limited diversity and inclusion training. (x)

Cracked down on for profit colleges. (x)

Reaffirmed students’ federal civil rights protections for non-discrimination based on race, national origin, disability, religion, sexual orientation, gender in schools. Specifically, the Department of Education made clear students with disabilities’ right to school, limiting the use of out of school suspensions and expulsions against them. (x) (x) 

Enhanced the Civil Rights Data Collection, a national survey that captures data on students’ equal access to educational opportunities. These changes will improve the tracking of civil rights violations for students, critical for advocates to respond to instances of discrimination. 

Provided guidance on how colleges and universities can still uphold racial diversity in higher education following the Supreme Court decision overturning affirmative action. (x) 

Issued a federal pardon to all prior Federal offenses of simple possession of marijuana. Additionally, the DEA is taking steps to reclassify marijuana as a Schedule III substance instead of a Schedule I, limiting punishment for possession in the future. (x) 

Changed drug charges related to crack offenses, now charging crack offenses as powder cocaine offenses. This is a big step towards ending the racial disparity that punishes crack offenses with greater severity than offenses involving the same amount of powder cocaine. (x) 

Lowered the cost of local calls for incarcerated people through the Martha Wright-Reed Just and Reasonable Communications Act as well as increased access for video calls (especially impactful for incarcerated people with disabilities). (x) 

Enacted policing reforms that banned chokeholds, restricted no-knock entries, and restricted the transfer of military equipment to local police departments. (x)

Established the National Law Enforcement Accountability Database (NLEAD) which will better track police officer misconduct. This database will vet federal law enforcement candidates who have a history of misconduct from being rehired and will make it easier and faster to charge police officers under the Death in Custody Reporting Act. (x) 

Added disability as a protected characteristic alongside race, gender, religion, and sexual orientation. Under the law, police officers are prohibited from profiling people based on these characteristics. …It sadly happens anyway but now there’s an added legal protection which means a mechanism to convict police officers should they break the law. (x) 

Required federal prisons to place incarcerated individuals consistent with their chosen pronouns and gender identity. (x) 

Expanded gun background checks by narrowing the “boyfriend” loophole to keep guns out of the hands of convicted dating partners, strengthening requirements for registering as a licensed gun dealer (closing the “gun show loophole”), and more through the Bipartisan Safer Communities Act.  (x) 

Increased mental health programs within police departments to support officers experiencing substance use disorders, mental health issues, or trauma from their duties. (x)

Lifted Trump era restrictions on the use of consent decrees. The Justice Department uses consent decrees to force local government agencies (like police departments) to eliminate bad practices (such as widespread abuse and misconduct) that infringe on peoples’ civil rights. (x) 

Improved reporting of hate crimes through the COVID-19 Hate Crimes Act (x) 

Nominated the first Black woman to sit on the Supreme Court 

Confirmed 200 lifetime judges to federal courts, confirming historic numbers of women, people of color, and other judges who have long been excluded from our federal court system. (64% are women, 63% are people of color) 

Designated Temporary Protected Status (TPS) status for immigrants from Cameroon, Haiti, ​​El Salvador, Haiti, Honduras, Nepal, Nicaragua, Sudan, and more. (x) 

Ended the discriminatory Muslim and African bans (x). 

Provided a pathway to citizenship for spouses of U.S. citizens that have been living in the country without documentation. (x) 

Expanded healthcare to DACA recipients (x) 

This one is… barely a win but not by fault of the Biden Administration. The Department of Homeland Security as of Feb 2023 has reunited nearly 700 immigrant children that were separated from their families under Trump’s Zero Tolerance Policy. From 2017-2021, 3,881 children were separated from their families. About 74% of those have been reunited with their families: 2,176 before the task force was created and 689 afterward. But that still leaves nearly 1,000 children who remain tragically separated from their families from under the Trump Administration. (x)

(okay this one is maybe only exciting for me who’s a census nerd) Revised federal standards for the collection of race and ethnicity data, allowing for federal data that better reflect the country’s diversity. Now, government forms will include a Middle Eastern/ North African category (when previously those individuals would check “white”). Additionally, forms will now have combined the race & ethnicity question allowing for individuals to check “Latino/a” as their race (previously Latine individuals would be encouraged to check “Latino” for ethnicity and “white” for race… which doesn’t really resonate with many folks). (x) (I know this sounds boring but let me tell you this is BIG when it comes to better data collection– and better advocacy!).

Rescinded a Trump order that would have excluded undocumented immigrants from the 2020 Census which would have taken away critical funds from those communities. 

Required the U.S. federal government and all U.S. states and territories to recognize the validity of same-sex and interracial civil marriages by passing the Respect for Marriage Act, repealing the Defense of Marriage Act.

Reversed Trump’stransgender military ban. 

Proposed investments in a lot of programs including universal pre-k, green energy, mental health programs across all sectors, a national medical leave program for all workers and more. (x) 

Last… let’s also not forget all the truly terrible things Trump did when he was in office. If you need a reminder, scroll this list, this one mostly for giggles + horror, for actual horror about what a Trump presidency has in store, learn about ‘Project 2025’ from the Heritage Foundation. I know this post is about reasons to vote FOR Biden but let’s not forget the many, many reasons to vote for him over Trump. 

So, there it is, 50+ reasons to vote for Biden in the 2024 Election. 

Check your voter registration here, make a plan to vote, and encourage your friends to vote as well. 

All in all, yeah… there’s a lot of shitty things still happening. There’s always going to be shit but things aren’t going to change on their own. And that change starts (it certainly doesn’t end) with voting. 

Go vote in November. 

[harpreetrainiinsurance]

How to Choose the Best Life Insurance Policy for Your Family

Life insurance is one of the most crucial investments you can make to secure your family's financial future. Whether it's covering daily expenses, funding your child’s education, or paying off outstanding debts, the right life insurance policy ensures that your loved ones are taken care of in the event of your untimely demise. But with a variety of policies available in the market, selecting the best one can feel overwhelming. This guide will help you navigate the process and choose a policy that meets your family's needs.

1. Understand the Different Types of Life Insurance

The first step in choosing the right life insurance policy is understanding the options available. Life insurance is generally categorized into two types:

Term Life Insurance: This policy provides coverage for a specific period, such as 10, 20, or 30 years. If the policyholder passes away during the term, the beneficiaries receive the death benefit. Term policies are often more affordable and suitable for temporary needs like covering a mortgage or funding education.

Whole Life Insurance: This is a permanent policy that provides coverage for the policyholder's entire life, as long as premiums are paid. It includes a savings component (cash value) that grows over time, making it ideal for long-term goals like estate planning or leaving a legacy.

Other options include universal life insurance, which offers flexibility in premiums and death benefits, and variable life insurance, which allows you to invest the cash value in various funds.

2. Assess Your Family’s Needs

Every family’s financial situation is unique, so your life insurance policy should align with your specific needs. Consider the following factors:

Living Expenses: Estimate how much your family will need to maintain their lifestyle, including housing, utilities, groceries, and other essentials.

Outstanding Debts: Include mortgages, car loans, and credit card debt in your calculations.

Future Goals: Think about long-term expenses like your children’s college education or retirement for your spouse.

\Final Expenses: Account for funeral and burial costs, which can be significant.

3. Determine the Right Coverage Amount

A common rule of thumb is to get a life insurance policy with coverage that is 10–15 times your annual income. However, your specific coverage needs may vary based on your financial goals. Use tools like life insurance calculators to estimate the right amount.

If you’re unsure, work with a financial advisor who can help you analyze your family’s financial needs and recommend a suitable coverage amount.

4. Evaluate Your Budget

Life insurance should provide peace of mind without straining your finances. Term policies are generally more budget-friendly, while whole life policies require higher premiums due to their permanent coverage and cash value component.

If affordability is a concern, start with a term policy to secure immediate coverage and upgrade to a permanent policy later as your financial situation improves.

5. Compare Policies and Providers

When shopping for life insurance, take the time to compare policies from multiple providers. Pay attention to:

Premium Costs: Look for a policy that fits your budget while offering sufficient coverage.

Policy Features: Some policies include riders, such as critical illness coverage or waiver of premium, that may add value to your policy.

Company Reputation: Choose a provider with a strong financial rating and a history of paying claims promptly.

Online comparison tools and independent insurance agents can help you identify the best options.

6. Consider the Term Length

For term life insurance, select a term that aligns with your family’s financial milestones. For example:

A 20-year term may cover your children’s education expenses.

A 30-year term might coincide with paying off a mortgage.

If you outlive the term, many policies offer the option to renew or convert to a permanent policy, though this may increase premiums.

7. Check the Policy’s Flexibility

Life is unpredictable, and your insurance needs may change over time. Look for a policy that allows flexibility, such as increasing or decreasing coverage, converting term policies to permanent ones, or accessing cash value in emergencies.

8. Work with an Insurance Agent or Advisor

Navigating the complexities of life insurance can be challenging. A licensed insurance agent or financial advisor can provide personalized recommendations based on your unique circumstances. They can explain policy details, suggest add-ons, and guide you through the application process.

9. Review and Update Your Policy Regularly

Once you’ve chosen a policy, remember that your financial needs will evolve. Major life events, such as the birth of a child, marriage, or a significant increase in income, may require adjustments to your coverage. Schedule regular reviews to ensure your policy remains aligned with your family’s needs.

Final Thoughts

Choosing the best life insurance policy for your family requires careful consideration of your financial goals, budget, and long-term needs. By understanding the types of policies available, assessing your family’s requirements, and seeking professional guidance, you can secure a policy that provides lasting peace of mind.

Investing in life insurance is a crucial step in safeguarding your family’s future. Take the time to explore your options and choose a policy that offers the protection and flexibility your loved ones deserve. Contact us for more information

[aarnainsurance]

A Comprehensive Guide to Permanent Life Insurance for Children in Canada

Though many Canadian families are thinking of permanent life insurance for children as a long-term financial plan, life insurance is usually connected with adults. Along with giving you piece of mind, this kind of insurance lays a financial basis for your child's future. Knowing the subtleties of permanent life insurance for children is crucial whether your province is Ontario, Alberta, Manitoba, or another. This blog will address everything from expenses to advantages as well as how to choose the best permanent life insurance for children in Canada.

What is Permanent Life Insurance for Children?

Children's everlasting coverage is offered by permanent life insurance. Unlike term life insurance, which runs for a predetermined duration, permanent policies are active as long as the payments are paid. Usually including a cash value component, which increases over time and may be accessed for future financial requirements such business startup or schooling, these rules sometimes

Key Features:

Lifetime Coverage: Coverage that lasts a lifetime.

Cash Value Accumulation: Builds equity that grows tax-deferred.

Level Premiums: Rates are locked in at a young age, making them more affordable.

Why Consider Permanent Life Insurance for Children in Canada?

Many parents ask, "Is life insurance for a child worth it?" The answer often depends on your financial goals. Here are some reasons families opt for permanent life insurance for children:

1. Financial Security

Your child will be covered by life insurance independent of future medical issues. Having a permanent policy assures coverage without further medical testing should your child acquire a medical ailment later in life.

2. Cash Value Growth

One can find great value in the cash value of the policy. Families utilize it for a down payment on a house, a post-secondary education fund, or other big outlay.

3. Affordable Premiums

Premiums for children are significantly lower than for adults. Starting a policy early locks in the cheapest permanent life insurance for children.

4. Legacy Planning

A long-term estate or wealth transfer plan can call for permanent life insurance.

How Much Does Permanent Life Insurance for Children Cost?

The cost of permanent life insurance for children varies based on factors like the insurer, policy type, and coverage amount. On average, premiums range from $15 to $50 per month for a coverage amount between $25,000 and $100,000.

Factors Affecting Costs:

Age of the Child: Younger children generally have lower premiums.

Coverage Amount: Higher coverage leads to higher premiums.

Policy Type: Whole life policies often have higher premiums than universal life insurance.

If you're looking for the cheapest permanent life insurance for children, compare quotes from multiple providers and consider policies with flexible premium options.

Best Permanent Life Insurance for Children in Canada

Finding the best whole life insurance policy for a child in Canada requires evaluating key aspects like coverage options, cash value growth, and affordability. Here are some top considerations:

1. Coverage and Benefits

Make sure the policy covers enough and has other riders like guaranteed insurability or waiver of premium.

2. Cash Value Growth

Higher cash value policies have more long-term financial advantages.

3. Flexibility

Look for policies with flexible payment options, such as single-pay or limited-pay plans.

4. Reputation of the Insurer

Choose a provider with strong financial stability and a reputation for excellent customer service.

Permanent Life Insurance for Children in Ontario

Ontario families have a range of options when it comes to permanent life insurance for children. Many insurers in the province offer competitive rates and flexible policies tailored to families' needs.

How to Get Life Insurance for My Child in Ontario:

Compare Quotes: Use online tools or consult a broker to compare rates.

Choose Coverage: Decide on the coverage amount and policy type.

Apply: Provide necessary information about your child and complete a medical questionnaire if required.

Permanent Life Insurance for Children in Alberta

For families in Alberta, child whole life insurance is a popular choice. Policies in this region often include features like flexible premium payments and accelerated cash value growth.

Benefits for Alberta Families:

Affordable Premiums: Lock in low rates at an early age.

Customizable Options: Tailor the policy to meet your child’s future needs.

Is Permanent Life Insurance for a Child Worth It?

The question of whether life insurance for a child is worth it depends on your financial priorities. Here’s a breakdown of the pros and cons:

Pros:

Guarantees lifetime coverage.

Builds cash value that can be accessed tax-free.

Protects against insurability risks in the future.

Cons:

Higher upfront cost compared to term insurance.

Long-term commitment to premiums.

How to Get Permanent Life Insurance for Your Child

Step-by-Step Guide:

Research Insurers: Look for companies that specialize in permanent life insurance for children.

Consult a Broker: A broker can provide personalized advice and help you navigate options.

Understand Policy Details: Review the cash value growth, premium structure, and riders.

Apply Early: The earlier you apply, the lower the premiums.

Permanent Life Insurance Examples

To illustrate how permanent life insurance works, here are two examples:

Example 1: Whole Life Policy

Coverage Amount: $50,000

Monthly Premium: $25

Cash Value at Age 18: $10,000

Example 2: Universal Life Policy

Coverage Amount: $100,000

Monthly Premium: $40

Cash Value at Age 18: $15,000

FAQs About Permanent Life Insurance for Children

How Much Life Insurance for a Child is Recommended?

A coverage amount between $25,000 and $100,000 is common, depending on your financial goals.

Can You Get Life Insurance for a Child?

Yes, many Canadian insurers offer policies specifically designed for children.

How to Find the Best Policy?

Compare quotes, assess cash value growth, and consult with a financial advisor.

Conclusion

Children can get a special mix of lifetime coverage and financial growth from permanent life insurance. Investing early in an insurance will ensure your child's future and give peace of mind regardless of where you live—Ontario, Alberta, Manitoba, another province. Examining the cheapest permanent life insurance for children alongside the best whole life insurance policies in Canada is a wise strategy for families trying to mix cost with thorough coverage.

Knowing the expenses, advantages, and choices will help you to decide in line with the long-term financial stability of your family. Start your research right now to provide your child a strong financial basis.

[travelmd]

Child Plans: Securing a Bright Future for Your Little Ones

As a parent, ensuring a secure future for your child is a top priority. In today’s uncertain financial environment, child plans play a critical role in financial planning for your child's future. Whether for higher education, marriage, or emergencies, these plans offer the assurance of financial security, even in your absence. For the Indian audience, where education and career planning are paramount, child plans have become indispensable tools for financial foresight and security.

What Are Child Plans?

Child plans are financial instruments that combine savings, investment, and insurance to ensure a secure future for children. These plans provide a lump sum payout at maturity, ensuring your child’s financial stability for essential goals like education and marriage. Child insurance plans also come with life cover, meaning in the event of the policyholder’s (parent's) untimely death, the child receives the guaranteed sum, ensuring no compromise on future plans.

Why Are Child Plans Important?

In India, the cost of education and living has seen a sharp rise. As per a report by the National Sample Survey Office (NSSO), the cost of education has increased by nearly 175% over the past decade. A good child plan can help counter such inflation and ensure that your child’s aspirations are not hindered by financial constraints. Here are a few reasons why child plans are essential:

Financial Security for Key Milestones: From school to higher education and even marriage, child plans provide financial assistance at significant stages.

Waiver of Premium: In case of the untimely demise of the policyholder, the policy continues with the waiver of premium benefit, ensuring the child's future is secure.

Flexible Payout Options: Child plans offer periodic payouts to meet immediate and long-term needs, giving you control over the financial support.

Types of Child Plans

1. Child Insurance Plans

Child insurance plans offer both investment and insurance benefits. They ensure that your child’s future expenses are covered through lump-sum payouts or regular income, especially in case of the policyholder's death.

2. Unit-Linked Insurance Plans (ULIPs) for Children

ULIPs provide an opportunity for higher returns as they invest in both equity and debt funds. This means you get to build a strong corpus for your child’s future while having the flexibility to switch funds as per market conditions.

3. Endowment-Based Child Plans

For those with a low-risk appetite, endowment plans are a safer option, offering guaranteed returns. Although the returns are typically lower than market-linked plans, they are ideal for parents looking for assured payouts with minimal risk.

Key Features to Look for in a Child Plan

When choosing a child plan, there are some essential features to consider to ensure maximum benefits:

Premium Waiver: Look for a plan that waives off future premiums if the policyholder passes away, while still providing financial support to the child.

Partial Withdrawals: Check if the plan offers partial withdrawal options for meeting urgent requirements such as school fees or medical emergencies.

Fund Switching Options: In ULIPs, the flexibility to switch funds can help maximize returns based on market conditions.

How to Select the Right Child Plan for Your Needs

Selecting a child plan requires careful consideration of various factors, such as investment duration, risk tolerance, and expected returns. Here are some pointers:

Evaluate Your Financial Goals: Estimate the expenses for your child’s higher education or other life goals, considering inflation. For example, an MBA today may cost around INR 25 lakhs, which could double by the time your child reaches that stage.

Risk Appetite: If you’re open to moderate risk, a ULIP with equity exposure may provide better returns. For low-risk takers, an endowment-based child plan is ideal.

Compare Different Plans: Use online tools to compare various child plans, focusing on returns, fees, and features like premium waiver, partial withdrawals, and fund-switching options.

Benefits of Investing in Child Plans

Child plans provide a host of benefits that help secure your child’s future while giving you peace of mind. Here’s why opting for a child plan can be a smart financial decision:

Guaranteed Financial Support: Child plans ensure that funds are available when needed, irrespective of unforeseen circumstances.

Tax Benefits: Premiums paid towards child plans are tax-deductible under Section 80C of the Income Tax Act, and maturity proceeds are tax-exempt under Section 10(10D), offering substantial savings.

Long-Term Wealth Creation: ULIPs and other market-linked child plans offer higher returns over an extended period, helping you accumulate a sizable corpus.

Popular Child Plans in India

Some of the most popular child plans in India include:

HDFC Life YoungStar Udaan: Known for flexibility in premium payment options and coverage.

ICICI Prudential Smart Kid Solution: Offers benefits such as premium waiver and wealth creation through ULIP investment.

SBI Life Smart Champ Insurance: Ideal for parents seeking a traditional endowment-based plan with guaranteed returns.

These plans offer varied features, so it’s essential to choose based on individual needs and goals.

Cost of Delay: Why Early Investment Matters

One of the common mistakes parents make is delaying investment in child plans. By starting early, you can maximize the benefits of compounding, giving you a larger corpus when it’s time for your child to pursue higher studies. According to a study, starting an investment in child plans just five years earlier can make a difference of up to 40% in the final payout.

Consider this scenario: If you start investing INR 5,000 per month when your child is born, the corpus could grow to nearly INR 30 lakhs by the time they turn 18, assuming an annual return of 10%. Delaying this investment by five years reduces the corpus to around INR 19 lakhs.

Potential Drawbacks and Precautions

While child plans are generally beneficial, it’s essential to be aware of certain limitations:

Higher Premiums: Compared to standard life insurance, child plans may have higher premiums, especially for plans with a premium waiver.

Market Risks in ULIPs: If you opt for a ULIP-based child plan, remember that returns are subject to market performance, which involves a certain level of risk.

Building a Secure Future with Child Plans

In the quest to give your child the best opportunities, a well-chosen child plan offers not just financial security but peace of mind. It’s an investment that ensures your dreams for your child are fulfilled, regardless of life’s uncertainties. Take the time to explore options, calculate future requirements, and invest wisely—starting today can make a significant difference tomorrow.

[josephtuyuno]

How to Get Your Credit Card Annual Fee Waived: A Step-by-Step Guide

Credit cards come with numerous perks, including cashback, rewards points, and travel benefits. However, annual fees can be a drawback, often costing hundreds of dollars a year for premium cards. The good news? Many credit card providers are open to waiving this fee, especially for customers with a good payment history. Here’s a step-by-step guide on how to get your credit card annual fee waived, so you can enjoy the benefits without the extra cost. How to Get Your Credit Card Annual Fee Waived: A Step-by-Step Guide

Step 1: Check Your Eligibility for a Fee Waiver

Before requesting a waiver, it’s important to know whether you qualify. Cardholders with good payment histories and high usage have a stronger case. Here are some factors that increase your eligibility:

Payment history: If you consistently pay your credit card bill on time, you’ll have a better chance of getting a waiver.

High spending: Cardholders who use their credit cards frequently may have more leverage since banks value high-spending customers.

Loyalty: If you’ve been with your card issuer for years, they may be more inclined to grant you a waiver to retain your business.

Promotional Offers: Some cards offer a fee waiver for the first year or as part of a promotional offer. Check if these apply to your card.

If you meet some of these criteria, your chances of receiving a waiver are higher.

Step 2: Decide on the Approach – Phone, Online, or In-Person

Most banks provide multiple avenues for contacting customer support to discuss your annual fee. Here are a few options:

Phone Call: The most common and effective way is to call the customer service hotline. Many cardholders report success with a phone call, as it allows for direct negotiation.

Online Request: Some banks offer chat support or secure messaging through online banking, making it easy to request a waiver digitally.

In-Person: If you prefer face-to-face communication, visit a branch and speak with a representative. This can work especially well for premium cardholders who may have relationship managers.

Choose the method that feels most comfortable and convenient for you. For most people, a quick phone call is the easiest route.

Step 3: Contact Your Card Issuer

Once you’re ready to proceed, reach out to your credit card provider. Here’s a general outline of what to say:

Introduce Yourself: Greet the representative and briefly introduce yourself, including your card type and how long you've been a cardholder.

Explain Your Request: Politely let them know you’re interested in having the annual fee waived. For example, “I noticed the annual fee is due soon, and I’d like to see if it could be waived.”

Highlight Your Loyalty: If you’ve been a loyal customer or have a strong payment history, mention this as it strengthens your case. For example, “I’ve been a cardholder for several years and have always made timely payments.”

Emphasize Your Card Usage: Let them know if you frequently use your card or if you also hold other accounts with the bank, as this shows your value to them.

Pro Tip: If the representative seems hesitant, mention that you’re considering switching to a no-fee card, either with their bank or another institution. This can often prompt a waiver as the bank may want to retain you as a customer.

Step 4: Be Prepared to Negotiate or Accept an Alternative

Sometimes, banks may offer alternatives to a full waiver, such as:

Partial Waiver: They may reduce the annual fee rather than waive it entirely. This is common with higher-tier credit cards that come with premium benefits.

Reward Points or Cashback Equivalent: In some cases, banks might offer bonus reward points, miles, or cashback equivalent to the annual fee. This is still a valuable offer, so consider it if a full waiver isn’t possible.

If they offer a partial waiver or points, consider the value you’re getting and decide if it’s worthwhile. Be polite and open to discussion, as sometimes customer service representatives may not have the authority to grant a full waiver right away.

Step 5: Follow Up if Necessary

If your initial request is denied, don’t be discouraged. Here’s what you can do next:

Ask to Speak to a Supervisor: In some cases, a higher-level representative may have the authority to approve waivers.

Try Again Later: If you were denied due to high call volume or a strict policy, try calling back at a different time. Another representative may be more accommodating.

Request a Waiver During Renewal: Some banks are more willing to waive fees if they see you’re about to cancel or if the renewal is imminent.

Persistence often pays off in these cases. Just remember to stay courteous and respectful.

Step 6: Track Your Success and Set a Reminder for Next Year

Once you successfully receive a waiver, make a note of it so you remember to request it again the following year. Most credit card annual fees are charged at the same time each year, so setting a calendar reminder can help you keep track. Keeping a record of successful waivers can also be helpful if you decide to request waivers for other cards.

Additional Tips for Avoiding Annual Fees

In addition to requesting a waiver, here are some other strategies to avoid annual fees:

Choose a No-Annual-Fee Card: Some credit cards offer competitive rewards without an annual fee. Consider switching to one of these if you prefer not to deal with waiver requests.

Consider a Different Card Tier: If you have a premium card but don’t use its benefits fully, consider switching to a lower-tier card that may have a lower or no fee.

Maximize Rewards to Offset the Fee: Some premium cards offer benefits (like miles, cashback, and airport lounge access) that can offset the annual fee. Make sure you’re maximizing these benefits to get value from your card.

Common Reasons for a Waiver Denial

In some cases, banks may deny a waiver request. Here are some common reasons:

Low Usage: If you rarely use the card, banks may see less value in granting a waiver.

New Cardholder: Some banks require a certain length of time before they’re willing to waive the fee.

Poor Payment History: Late payments or missed payments can reduce your chances of approval.

If your request is denied, consider focusing on improving these factors for the future.

Final Thoughts

Getting your credit card annual fee waived isn’t as difficult as it might seem. With a good payment history, high usage, and a polite request, many banks are willing to waive the fee to keep you as a customer. Follow the steps above to make a strong case and reduce your annual costs while enjoying the benefits of your credit card.

[satyamev1]

Why is festive season the right time to invest in property?

The festive season has always held a special place in the hearts of people across India. It’s a time of celebration, family gatherings, and new beginnings. In addition to these aspects, the festive season has become synonymous with investments, particularly in real estate. For those looking to buy property, especially in growing cities like Patna, the festive season presents a golden opportunity to take the leap. Whether you’re eyeing a 2BHK flat in Patna or exploring luxury flats in Patna, here are some compelling reasons why this is the ideal time to make a property investment.

1. Attractive Festive Discounts and Offers

During the festive season, developers across India, including those in Patna, provide lucrative offers to attract buyers. These can range from direct discounts, waivers on registration charges, free amenities, and sometimes even furnished apartments. In a competitive market, builders understand that buyers are looking for the best deal, which is why festive promotions often include substantial savings. This translates into a fantastic opportunity for buyers interested in 2BHK flats in Patna or luxurious, amenity-rich properties to capitalize on limited-time offers.

2. Increase in Loan Approvals and Low-Interest Rates

Festivals also mark a time when banks are more inclined to ease loan terms and offer reduced interest rates on home loans. Many financial institutions consider the festive season as a peak time for loans, and they make the process simpler and more attractive by offering lower interest rates, flexible EMIs, and even waivers on processing fees. For potential buyers of luxury flats in Patna, this provides a unique chance to secure financing under favorable conditions, potentially saving significantly over the life of a loan. Given the high demand for 2BHK flats in Patna, securing a property during this period with low-interest financing makes for a prudent financial decision.

3. Introduction of New Projects and Availability of Choices

The festive season is traditionally seen as an auspicious time for the launch of new projects. Developers often plan their launches around this period to cater to a high influx of potential buyers. This means buyers have access to a wider selection of properties. Whether you’re looking at luxury flats in Patna or budget-friendly options, the festive season increases the availability of choices, allowing you to compare various projects and select one that meets your lifestyle and investment goals. This broader selection ensures you don’t have to compromise on quality or budget, as you can explore a variety of configurations, such as 2BHK flats in Patna.

4. Higher Returns on Investment (ROI)

Investing in real estate during the festive season can be especially advantageous from a long-term perspective. Property values in India have traditionally appreciated over time, with the festive period often marking the beginning of new developments and trends in real estate. With the current urbanization and infrastructure development in Patna, properties are expected to experience a strong ROI. Investing in a property now, particularly in prime locations or premium luxury flats in Patna, allows you to benefit from future appreciation as the city continues to expand and modernize. Given the increasing demand, the festive season becomes the perfect time to invest in high-potential properties at competitive prices.

5. Positive Sentiment and Auspicious Beliefs

Cultural beliefs and traditions hold that the festive season is a time for new beginnings and prosperity, making it an ideal period for major purchases and investments. Many people prefer buying property during festivals like Diwali, Navratri, and Dussehra, as it’s believed that purchases made during these times bring good fortune and financial growth. When combined with the financial advantages, this sentiment further encourages people to buy their dream homes or invest in 2BHK flats in Patna. Builders and developers are aware of this mindset, which is why they go the extra mile in designing attractive offers, adding value to your investment and enhancing your buying experience.

6. Benefits of Moving into Ready-to-Move-In Flats

The festive season often brings an increased availability of ready-to-move-in properties. For those looking to avoid the waiting period associated with under-construction projects, opting for a ready-to-move-in 2BHK flat in Patna can be highly advantageous. These properties allow for immediate occupancy and come without the risk associated with delayed construction timelines. Additionally, buyers of luxury flats in Patna benefit from completed amenities and a property that’s already developed with no hidden costs. This is ideal for families looking to settle in their new homes as soon as possible.

7. Enhanced Resale Value and Rental Opportunities

The demand for high-quality housing in Patna is increasing rapidly as the city grows and more professionals and families move there. Whether you plan to live in the property or rent it out, investing in a 2BHK flat in Patna or a luxury flat in Patna during the festive season can provide substantial future income. Patna’s real estate market is booming, with an increasing demand for rental properties, making it a smart choice for investors looking for both appreciation and rental income. Many people are drawn to investing in this period, knowing the potential for future resale value due to both festive discounts and Patna's expanding job market.

Final Thoughts

The festive season is undoubtedly one of the best times to invest in real estate. With developers providing a range of attractive offers and financing institutions offering favorable terms, buyers can seize the opportunity to make sound property investments. Whether you are looking at luxury flats in Patna or a budget-friendly 2BHK flat in Patna, the festive season is ideal for entering the real estate market. With property prices expected to rise in the future, now is the time to secure your investment and enjoy the benefits for years to come.

[loansuvidha]

Protect Your Health and Finances with LIC Health Insurance

LIC Health Insurance provides extensive coverage for medical expenses, ensuring financial protection during health emergencies. With cashless hospitalization, flexible sum-assured options, and coverage for critical illnesses, LIC offers reliable support for you and your family. Popular plans like LIC Jeevan Arogya and LIC Cancer Cover offer tailored benefits, premium waivers, and tax savings. Choose LIC Health Insurance for a secure, health-protected future. For more information, visit the website https://loansuvidhaa.com/health-insurance

[mybankingtips1]

Best Premium Credit Cards in India

When it comes to managing finances, the choice of your credit card can create a significant difference. Premium credit cards offer a host of benefits that enhance your lifestyle with wide financial flexibility.

What are Premium Credit Cards?

Premium credit cards are high-end credit cards designed for frequent travelers and individuals who want to enjoy various rewards and benefits. These cards usually come with higher annual fees and more extensive reward programs. Your premium credit card benefits can also include superior travel insurance, luxury hotel experiences, and much more. Premium credit cards are designed for the most money-spending powers and are usually regarded as exclusive benefits card issues to few, which comprises higher credit limits, distinct rewards programs, and additional benefits. Including some of its special benefits such as lounge access for airports, concierge services, and numerous insurances.

Advantages of Applying for Credit Cards

Prior to getting into the best premium credit cards, it is important to understand the benefits of applying for a credit card. Here are some key benefits:

1. Convenience and Flexibility Benefits It makes transactions a lot easier to do without cash with the help of a credit card. It is convenient either online or over the counter in a store for payment. 2. Rewards and Cashback Benefits The reward programs which sometimes offer cashback are very common with premium credit cards. Here, you get points for every purchase you make through them. These can be redeemed in travel agencies, mall shops, and many other services. 3. More Secure Credit cards offer the extra-layered security such as fraud protection, and the option to dispute any fraudulent transaction along with discretion; thus providing a safe purchase environment.

4. Saves Credit History Proper management of a credit card contributes to a good credit history, which is very vital for acquiring loans and other financial products in the future.

5. Special Deals and Rebounds Premium cards issued to customers provide offers, discounts, and even invitation to events, making it even more valuable.

Best Premium Credit Cards in India

The following are the best premium credit cards in India distinguished by huge benefits, rewards, and special features:

1. HDFC Regalia Credit Card Key Features:

Reward Points: Get 4 reward points for every ₹150 spent. Airport Lounge Access: Complimentary access to airport lounges in India and abroad. Health and accidental death insurance cover overseas. This HDFC Regalia Credit Card is ideal for people constantly traveling and those often preferring rewards and benefits.

2. ICICI Bank Sapphiro Credit Card

Key Features

Cashback Offers: Cashback is going to be provided on online shopping and dining. Luxury Benefits: Luxury hotel offers and exclusive golf privileges with many more. Global Acceptance: Accepted at thousands of places throughout the world ensuring smooth and unobstructed transactions. This credit card is ideal for those who really like the luxuries in life and want to make the most out of their spends.

3. SBI Card ELITE Key Features:

Reward Points: 5 reward points for each ₹100 spent on grocery, dining, and international transactions Welcome Benefits: Attractive gifts with vouchers and discounts Airport Lounge Access: Complimentary access to domestic and international airport lounges. The SBI Card ELITE is meant for providing massive rewards and benefits to any individual who frequently spends on traveling and dining. 4. Axis Bank Privilege Credit Card Key Features:- Dining Privileges: Get up to 20% discount on premium restaurants. Reward Points: 2 reward points for every ₹200 spent. Annual Fee Waiver: It also provides annual fee waiver once one crosses a particular spend threshold. The Axis Bank Privilege Credit Card is perfect for foodies and those who love eating out.

5. American Express Platinum Travel Credit Card

Key Features:

Travel Benefits 1.5 Membership Rewards® points for every ₹50 spent Travel Insurance International travel insured to their heart's content. Luxury Hotel Stays get special discounts at super luxurious hotel stays. The American Express Platinum Travel Credit Card is for somebody who travels and enjoys a luxurious and premium experience.

How to Decide on the Best Luxury Credit Card

Before you decide to get a premium credit card, consider the following factors:

1. Spending Patterns Determine how often you spend money in certain categories. Select a card that offers rewards which you can most often earn, such as travel, dining, or shopping categories.

2. Annual Fees and Fees Review annual fees for the card. Your rewards program should offer more value than costs in order to make sure you get the best out of your credit card.

3. Rewards Program Find card rewards programs that are appealing and fitting your lifestyle. There may be some cards that return more cash back, while others give you more vacation awards.

4. Any bonus and Privileges Some perks will include lounge privileges, insurance cover, and access to concierge services to make it a holistic experience.

Conclusion

The right premium credit card will intensify your management of finances and lifestyle. Among the best premium credit cards in India, convenience has always been the given factor. Reward privileges and other rewards make up the most exciting part of the offer. Hence, know the benefits of credit cards to make the right decision for yourself according to the spending and financial goals you are targeting.

[automaticinsurance]

How to Choose the Right Life Insurance Company in Des Moines for Your Needs

Selecting the right life insurance company is a critical decision that can provide peace of mind and financial security for your loved ones. With numerous options available in Des Moines, finding the best provider for your needs may seem overwhelming. However, by considering a few essential factors, you can narrow down your options and make an informed choice. In this blog, we’ll explore the steps to take when selecting a life insurance company that aligns with your financial goals and personal needs.

1. Evaluate Your Insurance Needs

Before diving into your search for a life insurance provider, it’s crucial to assess your own needs. The amount of coverage you require, the type of life insurance policy you prefer (term or whole life), and your budget all play significant roles in determining the best fit for you. Understanding your financial obligations, such as mortgage payments, debt, and future expenses, will help you gauge the coverage amount needed to protect your family. Once you have a clear idea of your requirements, you can focus on choosing a company that offers the right plan.

2. Research the Company’s Reputation

When selecting a life insurance provider, you want to ensure that the company is financially stable and trustworthy. Look for Life Insurance Companies Des Moines that have strong financial ratings from agencies like A.M. Best, Moody’s, or Standard & Poor’s. These ratings reflect the company’s ability to meet its financial commitments and pay claims in the future. Additionally, consider reading customer reviews and testimonials to gain insights into the company’s customer service, claim settlement process, and overall satisfaction.

3. Compare Policy Options and Features

Different life insurance companies offer a variety of policies and additional features. Some may provide term life insurance with affordable premiums, while others specialize in whole life policies that build cash value over time. Be sure to compare the different policy options available to find one that suits your long-term goals. Look for riders or add-ons that may enhance your coverage, such as accelerated death benefits, waiver of premium, or conversion options. These additional features can offer flexibility and protection based on your unique circumstances.

4. Assess Customer Service and Claims Process

A company’s ability to provide excellent customer service and a smooth claims process is essential when choosing a life insurance provider. Research how the company handles claims and whether the process is efficient and straightforward. The availability of support services, including online account management and access to agents, can also impact your experience as a policyholder. Ensure that the company prioritizes clear communication and prompt responses to inquiries.

Choosing the right life insurance company in Des Moines requires careful consideration of your financial needs, the company’s reputation, and the features offered. By following these steps, you can make a well-informed decision that ensures your loved ones are financially protected. For comprehensive life insurance solutions, Automatic Insurance is a reliable provider that can help you meet your coverage needs effectively.

[insert-witty-user-name-here]

10+ Good Things Biden has Done: Healthcare, Housing, and LGBTQ+ Edition

Just a list of 10+ good things Biden has done in the last 4 years because I’ve been hearing too much rhetoric that it doesn’t matter who you vote for. It does make a difference. 

Find more 10+ good things here, here, and here.

Increased access to healthcare and specifically codified protections for LGBTQ+ patients against discrimination. (x) 

Strengthened women's reproductive rights by increasing access to reproductive health care, improving confidentiality to protect against criminalization for patients receiving reproductive care, and revoked Medicaid waivers from states that would exclude providers like Planned Parenthood, and more. (x)

Expanded healthcare and benefits for veterans through the PACT Act (x)

Cemented protections for pregnant and postpartum workers through the Pregnant Workers Fairness Act and PUMP for Nursing Mothers Act. 

Improved access to nursing homes for those who receive Medicaid services and established, for the first time, a national minimum staffing requirement for nursing homes to ensure those in their care receive sufficient support.  (x) 

Lowered healthcare costs for those with Medicare which capped insulin for seniors at $35 a month, made vaccines free, and capped seniors’ out of pocket expenses at the pharmacy through the Inflation Reduction Act. 

Fully vaccinated 79% of American adults against COVID-19 (I know this is old news now this is a big deal) 

Banned unfair practices that hide housing fees from renters and homebuyers when moving into a new home (x) 

Reduced the mortgage insurance premium for Federal Housing Administration (FHA) mortgages and clarified that inflated rents caused by algorithmic use of sensitive nonpublic pricing and supply information violate antitrust laws. (x) 

Increased protections for those saving for retirement from predatory practices. (x)

Helped millions of households gain access to the internet through the Affordable Connectivity Program. (x) 

Restored net neutrality (net neutrality is a standard which ensures broadband internet service is essential and prohibits interna providers from blocking, engaging in paid prioritization, and more.) (x)

Increased protections for loan holders as well as increased access to loans (x)

Cut fees that banks charge consumers for overdrawing on their accounts. (x)

Reaffirmed HUD’s commitment to remedy housing discrimination under the Fair Housing Act (which was– surprise, surprise– halted under the Trump administration). (x)

Required the U.S. federal government and all U.S. states and territories to recognize the validity of same-sex and interracial civil marriages by passing the Respect for Marriage Act, repealing the Defense of Marriage Act.

Reversed Trump’stransgender military ban.

Proposed investments in a lot of programs including universal pre-k, green energy, mental health programs across all sectors, a national medical leave program for all workers and more. (x) 

Last… let’s also not forget all the truly terrible things Trump did when he was in office. If you need a reminder, scroll this list, this one mostly for giggles + horror, for actual horror about what a Trump presidency has in store, learn about ‘Project 2025’ from the Heritage Foundation. I know this post is about reasons to vote FOR Biden but let’s not forget the many, many reasons to vote for him over Trump.

Looking for more?

10+ good things Biden has done in education and immigration

10+ good things Biden has done in the justice and courts system

10+ good things Biden has done in climate and labor

A few other notes

Voting for Biden or Trump shouldn’t be the only reason you vote. You know what elections have more power over your life? LOCAL elections. If you’re not feeling jazzed about Biden… vote for someone really cool running for mayor, or your rep, or on your school board and then begrudgingly vote for Biden. 

A reminder that if someone online is trying to discourage you to vote there’s a good chance they are a paid actor to do so. Voter suppression was a well-documented tactic during the 2016 election and I’m sure the trolls are out in force again. 

Check your voter registration here, make a plan to vote, and encourage your friends to vote as well. 

All in all, yeah… there’s a lot of shitty things still happening. There’s always going to be shit but things aren’t going to change on their own. And that change starts (it certainly doesn’t end) with voting. 

Go vote in November.

[news365timesindia]

[ad_1] 3 min read Last Updated : Oct 14 2024 | 4:52 PM IST ICICI Bank has announced several changes to its credit card terms, effective November 15. They include changes to reward points, transaction fees, and benefits for different card categories. This announcement marks the second revision to ICICI's credit card offerings this year. Key changes to credit card terms Click here to connect with us on WhatsApp Increased spending requirement for airport lounge access Cardholders will have to now spend ~75,000 in the preceding calendar quarter to qualify for complimentary airport lounge access, up from ~35,000. Caps on rewards for utility and insurance payments You will keep earning reward points on utility spends up to ~80,000 and insurance spends up to ~80,000 at the current earn rate.  You will keep earning reward points on utility spends up to ~40,000 and insurance spends up to ~40,000 at the current earn rate. Caps on rewards for grocery spending Spending on groceries and in departmental stores will now have a limit for earning reward points. Premium credit cardholders, such as those with ICICI Bank Rubyx Visa, Sapphiro Visa, Emeralde Visa, and others, can earn rewards on grocery purchases up to ~40,000 per month. For all other cardholders, the limit is set at ~20,000 per month. Revised fuel surcharge waiver policy The bank will waive fuel surcharges on transactions of up to ~50,000 per month across its entire credit card range. However, for the exclusive Emeralde Mastercard Metal Credit Card, this waiver limit extends to transactions up to ~1 lakh per month. Spend threshold for annual fee reduction to 10 lakh The spend threshold for annual fee reversal on the Emeralde card has been reduced from ~ 15 lakh to ~10 lakh per annum. Exclusions from spending thresholds Payments made towards rent, government transactions, and education will no longer count towards annual fee waivers and milestone benefits. Charges for supplementary cardholders An annual fee of ~199 will be charged for supplementary cardholders starting from the card's anniversary month. If school or college fees are paid using ICICI credit cards through third-party payment apps such as CRED, Paytm, Cheque, or MobiKwik, a 1 per cent transaction fee will apply. To avoid this fee, you can make payments directly via the school/college website or through a POS machine. SBI Card has also recently announced an increase in fees for specific credit card transactions, including changes to the fee structure for utility bill payments and finance charges. Effective November 1, 2024, finance charges on unsecured SBI Credit Cards will rise to 3.75 per cent per month, with the exception of Shaurya and Defense cards. Additionally, starting December 1, 2024, a 1 per cent fee will be imposed on utility bill payments that exceed ~50,000 within a billing cycle. Note that the implementation dates for these changes vary. HDFC Bank has revised its loyalty program for select credit cards, while IDFC FIRST has introduced significant changes to its credit card payment terms, including adjustments to the minimum amount due (MAD) and payment due dates. These updated regulations will come into effect on September 1, 2024. First Published: Oct 14 2024 | 4:52 PM IST [ad_2] Source link

[news365times]

[ad_1] 3 min read Last Updated : Oct 14 2024 | 4:52 PM IST ICICI Bank has announced several changes to its credit card terms, effective November 15. They include changes to reward points, transaction fees, and benefits for different card categories. This announcement marks the second revision to ICICI's credit card offerings this year. Key changes to credit card terms Click here to connect with us on WhatsApp Increased spending requirement for airport lounge access Cardholders will have to now spend ~75,000 in the preceding calendar quarter to qualify for complimentary airport lounge access, up from ~35,000. Caps on rewards for utility and insurance payments You will keep earning reward points on utility spends up to ~80,000 and insurance spends up to ~80,000 at the current earn rate.  You will keep earning reward points on utility spends up to ~40,000 and insurance spends up to ~40,000 at the current earn rate. Caps on rewards for grocery spending Spending on groceries and in departmental stores will now have a limit for earning reward points. Premium credit cardholders, such as those with ICICI Bank Rubyx Visa, Sapphiro Visa, Emeralde Visa, and others, can earn rewards on grocery purchases up to ~40,000 per month. For all other cardholders, the limit is set at ~20,000 per month. Revised fuel surcharge waiver policy The bank will waive fuel surcharges on transactions of up to ~50,000 per month across its entire credit card range. However, for the exclusive Emeralde Mastercard Metal Credit Card, this waiver limit extends to transactions up to ~1 lakh per month. Spend threshold for annual fee reduction to 10 lakh The spend threshold for annual fee reversal on the Emeralde card has been reduced from ~ 15 lakh to ~10 lakh per annum. Exclusions from spending thresholds Payments made towards rent, government transactions, and education will no longer count towards annual fee waivers and milestone benefits. Charges for supplementary cardholders An annual fee of ~199 will be charged for supplementary cardholders starting from the card's anniversary month. If school or college fees are paid using ICICI credit cards through third-party payment apps such as CRED, Paytm, Cheque, or MobiKwik, a 1 per cent transaction fee will apply. To avoid this fee, you can make payments directly via the school/college website or through a POS machine. SBI Card has also recently announced an increase in fees for specific credit card transactions, including changes to the fee structure for utility bill payments and finance charges. Effective November 1, 2024, finance charges on unsecured SBI Credit Cards will rise to 3.75 per cent per month, with the exception of Shaurya and Defense cards. Additionally, starting December 1, 2024, a 1 per cent fee will be imposed on utility bill payments that exceed ~50,000 within a billing cycle. Note that the implementation dates for these changes vary. HDFC Bank has revised its loyalty program for select credit cards, while IDFC FIRST has introduced significant changes to its credit card payment terms, including adjustments to the minimum amount due (MAD) and payment due dates. These updated regulations will come into effect on September 1, 2024. First Published: Oct 14 2024 | 4:52 PM IST [ad_2] Source link

[investoptionwin]

10 Common Mistakes to Avoid When Buying Term Insurance

When purchasing a term insurance plan, it’s essential to ensure you’re making well-informed decisions. Term life insurance is a crucial financial tool that offers protection to your family in your absence, but several mistakes can hinder its benefits. As an insurance broking agency in India, we’ve seen how avoiding these common pitfalls can make a significant difference in securing the best term insurance plan. Let’s take a look at the top 10 mistakes to avoid when buying term insurance.

1. Underestimating Your Coverage Needs

One of the most common mistakes buyers make is purchasing a term insurance plan with insufficient coverage. It’s important to calculate the coverage based on your income, outstanding loans, and future financial needs of your family. Choosing a low sum assured may leave your family financially strained.

Tip: Opt for a term policy that covers 10–15 times your annual income.

2. Focusing Only on Premiums

It’s easy to be attracted to a term insurance plan with the lowest premiums, but this could be a mistake. While affordability is important, ensure that the plan offers comprehensive coverage and essential riders, even if the premiums are slightly higher.

Tip: Compare term life insurance quotes from multiple insurers, but also assess the features and benefits.

3. Not Considering Inflation

Another common mistake is failing to account for inflation while choosing your sum assured. The value of money decreases over time, and what may seem like sufficient coverage today might not be enough 20 years later.

Tip: Look for a term plan that offers an increasing sum assured to combat inflation.

4. Skipping Riders

Riders such as critical illness cover, accidental death benefits, and waiver of premium are often skipped by buyers to save on premiums. However, these riders provide essential additional coverage, and not opting for them may leave your family vulnerable in unforeseen circumstances.

Tip: Consider adding riders that are relevant to your lifestyle and financial goals.

5. Delaying the Purchase

Many individuals delay purchasing a term insurance plan, thinking they can buy it later. This is a costly mistake, as term insurance premiums increase with age and health conditions may worsen, which can lead to higher premiums or rejection of your application.

Tip: Buy a term insurance plan as early as possible to lock in lower premiums.

6. Relying Solely on Employer-Provided Insurance

Relying only on your employer-provided life insurance is another common mistake. While this coverage is often convenient, it may not be enough for long-term family protection and is subject to your employment status.

Tip: Have a separate personal term insurance policy for complete financial security.

7. Not Disclosing Medical History

Failing to disclose your full medical history or lifestyle habits such as smoking or drinking can lead to claim rejection. Insurers conduct thorough checks, and withholding information can be grounds for denying claims later.

Tip: Be transparent about your medical history while buying a term policy to ensure hassle-free claims.

8. Choosing the Shortest Policy Term

Many buyers opt for the shortest term to save on premiums. However, this can lead to financial insecurity when the policy expires while your family still needs coverage.

Tip: Choose a term that provides coverage until your financial dependents can sustain themselves.

9. Not Reviewing Your Policy Regularly

Your life insurance needs evolve over time. A common mistake is not reviewing your term insurance plan periodically. Whether you’ve had a child, taken a loan, or experienced a significant life event, your coverage needs might change.

Tip: Review your term life insurance every few years and make necessary adjustments.

10. Not Comparing Different Types of Life Insurance

Many buyers jump into purchasing a term plan without comparing it with other types of life insurance policies. Though term insurance is affordable and offers high coverage, certain individuals may benefit from whole life or endowment policies based on their goals.

Tip: Evaluate the pros and cons of different types of life insurance before making a decision.

Buying the best term insurance plan involves more than just finding the lowest premium. By avoiding these common mistakes, you can ensure that your term plan provides adequate coverage and long-term financial security for your loved ones. Take the time to research, compare term life insurance quotes, and select a plan that aligns with your needs.

At Ginteja, we help clients navigate the complex world of insurance, offering guidance on the best term life insurance, term policy options, and more. Start protecting your family’s future today!

[parulverma30]

Axis Bank Magnus Credit Card: A Comprehensive Guide

TheAxis Bank Magnus Credit Card is designed for those who appreciate luxury and premium benefits. With this card, you earn 4 reward points for every ₹200 spent on international transactions and 2 reward points on domestic ones. Enjoy unlimited complimentary access to over 1,000 airport lounges worldwide through the Priority Pass program, making your travels more comfortable. Dining enthusiasts can benefit from up to 25% discounts at select restaurants, while golf lovers enjoy complimentary access to select golf courses in India. The card also features concierge services to assist with travel bookings and reservations. Additionally, cardholders benefit from insurance coverage for travel-related incidents and a fuel surcharge waiver at select stations. With the possibility of an annual fee waiver based on your spending, the Axis Bank Magnus Credit Card is an ideal choice for anyone looking to elevate their lifestyle with exclusive rewards and privileges.