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“Best Term Plan in the Market!”

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Please read till the end to know the best term insurance in the market.
So you have decided to purchase the term insurance, which means who are opting for a risk transfer. There are 4 ways to manage risk, let’s go through them and try to insert them in our personal finance equation.
1. Risk Avoidance: We are a master in it and doing it for years. In individual life, one of the biggest risks is the uncertain death of the breadwinner of the family, avoiding this particular risk can hamper your financial world and it will take years to recover from this financial loss.
2. Risk Reduction: Driving your bike carefully, wearing a helmet, putting the seatbelt on, jogging every day and eating healthy & nutritious food every day are some ways to reduce certain health and life risk. You can reduce few risk but not completely, the uncertain nature of various risk exposes you to vulnerabilities.
3. Risk Retention: You have not avoided the risk nor reducing it, you are just bearing the future cost of the loss in present value. This is possible for risk like health issues if you have managed to save enough for a medical contingency, you may retain this risk, but still there will be a risk of exhausting this special fund in the case of severe illness.
4. Risk Transfer: After doing all the due diligence, you have decided to transfer the risk to an insurance company. In the case of an agreed event happening as per the contract, the insurance company will take care of the financial loss.

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The Risk in Risk-free Investment

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What is a risk?
For most, it’s a possibility of losing the subject, be it money or the ship.
It has been proven in most of the experiments that severe pain of loss is much bigger than the extreme joy of making profits. So the common man looks for avenues, which is safe for him and the probability of losing the principal in the said avenue is minimal. So, according to nature, an investment avenue which is relatively safe and provide guaranteed returns over the principal with the safety of the principal is said to be a risk-free investment.Read More


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“How not to spend more than your salary!”

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Spending more than your salary??? Well, it’s a common case these days, especially for bachelors living away from their hometown. The major portion of the monthly income wipes out in the first week of getting the salary. House rent, utility bills, maid and groceries are the major part of the monthly expenses. Let’s take a case of a common guy Ashish and see how he manages his expenses.

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Financial Maturity – “I know What I am doing”

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Very less has been written on this topic so far now. Also, the definition will be subjective once you hear the term “financial maturity”. Everyone will have their own version and it’s okay. In reality, financial maturity means, “I know What I am doing with my Money”. There is enough attitude in those lines, which revolves around a person’s financial life. Sadly, we are over-confident and we don’t know what we are doing with our money. Do not make a mistake to compare the financial maturity with frugality, both of them are different. A person who understands how his decision affects his personal finance is Financially mature. He might spend money on expensive laptops or business class flights, furthermore, she might not spend money on lavishness and only shell out money out of her purse whenever deemed necessary. It’s hard to understand this, but the person in charge will be the best person to know his/her circumstances and take the call accordingly. Read More


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