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Hazel Calvin

Finance

Five Essential Tips for Beginners in Forex Market

Beginners cannot be able to understand the situation as they are not experienced enough. In the trading field, people are required to act practically and learn to take responsibility. When the new investor will get the proper guidelines, he will be able to trade properly. People should not try to allow emotions in the trading process as it is not good for them. If you can be able to increase the cognition level and become up to date with the market, it will be possible to achieve the goal.

Trade Seriously

New investors should fix the goal and work according to this. When the person will be able to take the responsibility of trading, he will make the decision thinking properly. People should not try to blame others for their mistakes as it is not the right thing. The person should remember that he has to decide his trading process. If you countenance the winning or losing streaks, you should bear in mind that you are responsible for this. Traders should give proper attention to trading to get good returns. If you take this as an easy task, you might face failure.

Avoid Shortcut Methods

Traders should avoid shortcut methods as they will not be able to help them. When the person will be able to implement the strategy properly, it will be possible to do better. People face problems because they think that by trading more it is possible to earn more money. Here, investors should invest time in developing a good strategy so that they can be able to overcome the difficulties. Traders should focus on improving the abilities which are necessary for trading. For this reason, they should focus on improving themselves to achieve success. Forex trading is not an easy task. You must know the critical factors that drives the market. And to know this, you can’t look for the shortcut method.

Practicing Regularly

Continuous practice will help to increase performance. When the person will be able to perform properly, he will be able to countenance the winning streak. In Forex market, the investors are required to cope up with the new situation to get the benefits. Newcomers should practice in the virtual field before coming into the real field. Here, the person should practice technical and basic skills for becoming successful. The traders are required to speculate the price movement properly so that they can make profits. The wrong prediction can create problems for traders. So, the person should gather practical knowledge to do well.

Manage the Risk

If you can be able to manage the risk properly, you will be able to increase the account balance. People should use stop-loss and take profit to get a good result. This is really tough to monitor the market all the time as it is stressful. By placing the stop-loss at the right point, the person can be able to do other works. When you become stress-free, you will be able to make the right decision and perform properly. By practicing through the demo account, the investors will be able to improve the risk management skill.

Doing the Proper Analysis

When you will be able to do good research on the market, it will be possible to make the right decision. Investors should know about the situation and the rules of the market. Without doing proper research on the market, it is not possible to develop a good plan. If the new investor cannot recognize the situation, he will not be able to take the right action. For getting the advantages, people should try to develop good knowledge about the market which will help to gain success.

To build a successful career, the investors should try to gain proper knowledge and develop necessary skills. If you do not keep the eye on the market, you might miss the good opportunities.

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Finance

EVEN RETIRED PEOPLE WITH NO LIABILITIES NEED A PLAN

Retirement is usually synonymous for the idea that all your years of hard work and hustle is over. After all these years, you can finally sit back and relax.  It also brings you more options than any time in your life. After retirement, you could choose to sit back at home or you could work as a consultant depending on your profession. Regardless, another thing that comes with retirement is an entire career’s worth of savings.

Naturally, you wouldn’t want to exhaust this money by simply spending it on taking trips and buying things that you always wanted to. The first instinct would be to invest the money somewhere where it can give you returns. However, investing when you are young gives you time to let your investments grow. On the other hand, investing at the age of 60 or 65 may not allow that much time. Hence, to invest effectively, you need an investment plan. Here is how you can do it:

How to divide your money

Since, you are not working anymore, your savings are the only source of money you may have. Hence, you need to divide your money in a way that it benefits you rather than take away the money you already have. Here the important divisions you need to make:

  • Emergency fund

Just because you are retired does not mean that you will not have any expenses. In addition to the regular expenses, you need to have money in case of emergency. For example, increasing age means you are more likely to have health issues. This means you may have to visit the hospital and may need money for treatment. Hence, you need to set some money aside that you can use in any emergency.

  • Investment

The other half of your money should be dedicated to investment in various options. The goal is to use your life savings to generate wealth. This in turn should enable to invest more. Hence, the idea becomes about letting your savings earn for you. However, investment comes with its risks. Hence, you have to make sure you invest in options that have lesser chance of losses.

What you can invest in?

Simply put, one of the best options for you to invest in is mutual funds. While there is nothing wrong with exploring other options, it is better to focus more on mutual funds. Retirement income mostly includes interest payouts and dividends from investments. Hence, it is better to make investments in options that can take inflation into account.

Moreover, there are a long list of options you can get even within mutual funds. This helps you diversify your investment portfolio. The right investment option for your portfolio depends on the amount of risk you are willing to take. Experts recommend taking lesser risk with your life savings. However, if you want higher returns and have the right mutual funds option for it, you can go for a riskier investment option. This is the reason that mutual funds are popular among investors, they allow you to invest in different equity-based options with different risk profiles.

Another option that you go for is debt-based mutual funds. The main reason you should consider this option is the taxation around it. If you put your money in a bank account, you will be taxed on that income based on which tax slab your total income falls under. The highest slab requires you to pay 30.9% as tax. On the contrary, any income from debt funds is only taxable upto 20% if you have held it for three years or more. Happy investing!

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Investment

WHY INVESTORS SHYING AWAY FROM ELSS

Equity-linked Savings Scheme, commonly known as ELSS are a popular investment avenue among investors looking to expose their investments to equities while simultaneously saving on tax. Usually, ELSS investments are the highest during the last three to four months of the financial year as investors rush to earmark their tax-saving investment avenues before the deadline of tax submission. However, this year the number of investors investing in ELSS funds has dwindled.

As per the data released by AMFI (Association of Mutual Funds in India) on 9th April, 2020, the net ELSS inflows in FY 2020 between December 2019 to March 2020 was just Rs 3,834 crore. The net ELSS inflows is around 36% lower than the net ELSS inflows during the same period in FY 2019 and around 55% lower than the net ELSS inflows in FY 2018.

So why are investors shying away from ELSS mutual funds?

There are chances that with increased awareness about SIP investments (Systematic Investment Plan), investors are beginning to invest in mutual funds via SIP in the start of the financial year rather than investing a lumpsum in the end of the financial year. This might result in slower sales in the ELSS category. However, one could argue that the net inflow in ELSS funds in the entire FY 2020 was much lower than that of FY 2019 – Rs 8,187 crore in FY 20 and Rs 12,771 crores in FY 19.

Another reason for investors shying away from the tax saving mutual funds could be market volatility. But again, net inflows in equity jumped around astounding 52% to Rs 24,343 crores between Dec 19 to March 2020. Then, what’s the issue?

Experts believe that the drastic decrease in ELSS investments in FY 2020 could be because of the budget announcements. Budget 2020 includes a new optional tax regime that does not include most of the tax deductions and exemptions, including the ELSS tax saving exemption of Rs 1.5 lac under Section 80C of the IT Act. It must be noted that the taxpayers can continue to choose their old tax regime. Experts believe that the confusion to choose between the old tax regime and the new tax regime might have resulted in a lower net flow of ELSS investments.

Another reason could be the poor performance of these tax-saving mutual funds. Data shows that the returns on ELSS funds dipped from double digits in 2017 and 2018 to single digit returns in 2019 and 2020. Investors looking for the past performance and returns of ELSS mutual funds might not be satisfied and thus discouraged to invest in ELSS funds. This could have also contributed to the investors shying away from ELSS investments.

If you are an existing investor in ELSS funds, you might consider staying invested if you are satisfied with the performance of your fund. On the other hand, if you are a new investor, opt for funds with risk appetite matching yours. Happy investing!

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Investment

Achieving Business Growth Through Strategic Partnerships

Business success and growth can be achieved by impressing clients and improving your company’s performance. As long as you can provide consumers with high-quality products and services, your business will likely survive. Unfortunately, there are moments when your business experiences major setbacks because of a lack of significant resources. This may include a lack of funds, tools, and equipment, or even manpower. When this happens, business processes are disrupted, which eventually leads to inconvenience both to you and your clients. To prevent this, you need to prepare backup strategies or find a strategic partner who can help you deal with possible business challenges.

The Importance of Strategic Partnerships in Business

Some business owners get overwhelmed with challenges in running a company. Aside from building plans to attract more customers, they also need to find time to fix internal processes. This includes hiring competent and reliable employees or investing in advanced tools and equipment. Unfortunately, not all companies have the ability to secure all the resources that are essential in fixing their business processes. Most of them lack funds, while others don’t have the right knowledge and experience to handle certain tasks. Good thing, companies can rely on strategic business partnerships to solve these issues.

Strategic partnerships refer to an agreement of two businesses to combine their efforts and work together to achieve a common goal. This helps companies, especially small businesses, have access to valuable resources essential in improving their performance. Here are some of the remarkable benefits of having strategic business partnerships:

  • Gain knowledge and skills in running a business.
  • Get funding for your future campaigns.
  • Help identify opportunities.
  • Build a team of skilled and talented individuals.

Strategic Partnerships You Need for Your Business

  • Marketing—Partnering with a marketing agency helps increase your chances of building successful campaigns. You can look for companies doing print ads or digital marketing campaigns to help you produce high-quality and effective promotional tools. This helps you improve brand awareness and business visibility, which helps attract more clients to your business.
  • Logistics—If your business heavily relies on delivering goods, you need to find a logistics partner. You have to ensure that your customers can conveniently get their orders on time. Also, you need to reduce the chances of your items getting damaged. Thus, a trusted logistics partner can help you address these concerns. You may also consider partnering with a reverse logistics provider so you won’t have issues dealing with returned goods.
  • Financial management—If you are having trouble looking for a reliable accountant, bookkeeper, and other staff who are money experts, you can rely on other companies to solve the issue. There are software developers who can help you get hold of advanced accounting tools and other resources you might need to improve financial management in your company.
  • Technology Integration—Using advanced tools and equipment requires time and patience. Whenever you invest in the latest tech tools, you have to train employees to use them properly. This ensures that they won’t commit errors and continue staying productive while doing their jobs. To minimize risks and mistakes, you can work with experts in technology integration. These companies assist business owners in onboarding processes and provide useful training programs that employees need to keep up with business processes.

Businesses need strong and reliable connections to survive, especially if you are part of a highly-competitive industry. Thus, you need to find a strategic partner who can help you fulfill your goals and help you achieve your company’s vision. Working with trusted companies can help you significantly improve your business performance. Doing this does not only benefit your company, but it will also give your clients more reasons to keep supporting your brand.

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Loan

Tips on Choosing the Best Loan Provider

If you are faced with a shortage of funds or an emergency financial situation that you need to resolve faster, an online loan with no credit check can help you. With the right loan, you can finance home improvements, pay for your vacation or college fees and foot a wide range of other bills.

However, before you start applying for the loans, you need to understand your options and take time to choose the right lender. Sometimes, you might feel a bit spoilt for choices which can easily make you assume that the loan lender you choose doesn’t matter.

You need to keep in mind that not all lenders are equal and only responsible lenders have your best interest at heart. Therefore, it is critical to take time and choose the right loan provider. Here are some tips to consider when selecting the best loan provider.

1.     Consider Interest Rates, Fees and Other Charges

The first thing you need to pay close attention to while choosing a loan provider is the interest rate, service fee, and any other administrative charges that may apply.  One of the biggest mistakes people commit is simply looking at the interest rate and assuming that they will pay back less money.

Most of them don’t know that some lenders display relatively low-interest rates but charge a ton of additional charges that will eventually make the loan too expensive.

Therefore, before choosing an online loan with no credit check lender, find out what additional charges you will be expected to pay on top of your loan amount.

2.     Assess the Penalties and Repayment Costs

Sometimes, you may be in an excellent financial position, and you will want to make faster repayments so you can finish repaying the loan quicker than the stated loan tenure.  This has always proved to be a prudent move because it can save you a lot of money on interest cost.

However, some lenders don’t like it when you repay the loan early and will have early repayment penalties in place. You must be aware of such lenders and avoid them altogether.

Before you submit your loan request, carefully read the loan terms and ask anything you don’t understand. Enquire about all the potential penalties and repayment costs to avoid paying hefty penalties in the future.

3.     Check the Loan Amount

Depending on your financial needs, you may or may not know how much you need to borrow. Therefore, it is always good to choose a lender who is willing to offer you a substantial loan amount that you are sure will help you cover your expenses.

You should also pick a lender who offers more flexibility. Some lenders provide you with the option of withdrawing the loan amount in parts depending on your needs. In such a case, you only pay interest on the amount of money you use.

The bottom line is to ensure that the loan is flexible and offers you an option to borrow sufficient money to cater to your needs.

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Finance

The Shortcomings of Automated Trading Systems

Automated trading systems have many advantages and benefits. For one, they remove the emotions out of trading, which means you can stick more easily with your trading plan. It therefore also improves trading discipline. At the same time, you can backtest your trading strategy using historical market data.

On the flipside, though, automated trading systems also sport downsides that may not be suitable for some kinds of traders. In this article, we explore these downsides to help you decide whether an automated trading strategy is for you or not.

Program Failures

Ideally, automated trading systems work as the name suggests: automatically. It’s also pretty straightforward: set the rules, and let the computer run the trade.

However, in the real world, program failures and mechanical glitches happen. Yes, automated trading is a sophisticated trading strategy. But it is not perfect.

For instance, if the internet connection is suddenly lost, an order may not be sent to the market. There could also be some errors between trades from the strategy.

Traders should expect some kind of learning curve with automated trading systems. The trick is to start small—use small trade sizes—while the automated process is still being polished.

Problems with Monitoring

Even though turning on the computer and leaving for the day sounds thrilling (not really), automated trading systems still require some amount of monitoring.

Keep in mind that chances of technical failures, connectivity problems, power interruptions, and computer and system crashes still exist.

That means the automated trading system could still experience anomalies, which could reap errant orders, missing orders, or duplicate orders.

To resolves these issues, you still have to be alert and monitor the system often.

Overoptimization

Although this issue is not exclusive to automated trading systems, traders who use backtesting techniques can design systems that appear to be great but perform horribly badly in a live market.

Overoptimization is a thing; it refers to the excessive curve-fitting that results in a trading plan or system which traders cannot rely upon.

For example, it’s possible to design a strategy that could achieve exceptional results on the historical market data on which is was backtested.

Traders then incorrectly assume that a trading plan could have near 100% efficiency and profitability (never experiencing a drawdown).

They then tweak the parameters to create an almost perfect trading plan, which succumbs to failure once applied to a real-world, real-time situation.

Scams

Traders search for trading systems which they will use on their trade. But sometimes, it’s too good to be true. And remember that if it’s too good to be true, it probably is not true.

Some systems sold by suspicious or disreputable brokers or sellers promise high profits for low prices. Keep in mind that scams exist and the market has a lot of those going around.

To determine whether the system is legitimate or not, scrutinize anything that you have to pay for before laying down any money. Always ask a lot of questions.

Check the testimonials if any and do your research. Be sure to read the terms and conditions before you commit.

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Finance

Economic Indicators for Market Trends

Economic indicators may be leading, lagging, or coincident indicators. These indicators help an investor or trader confirm or disprove his or her conclusions regarding the market. More importantly, they help him or her know the market trends. Here are some of the most important economic indicators for market trends.

Market Indices

Market indices offer predictive abilities to investors, so it should be current and forward-looking. It also has to discount values based on future expectations.

The most insightful statistics about the economy’s direction start with major market indices for stocks, stock futures, bond interest rates and yield curve, forex, and commodity prices.

Weekly Data Reports

Every week, some important economic reports also come out for the public to see.

The weekly jobless claims report comes weekly from the Department of Labor. When the economy weakens, unemployment rates go up.

On the other hand, this report has a bias in that self-employed, part-time, and contractual employees who lose their jobs do not get the benefits. Therefore, they don’t count.

Meanwhile, the money supply report also comes out weekly. It comes from the Federal Reserve, and it’s an abstract technical calculation of how much money is in circulation in the economy.

On the other hand, because of digital improvements wherein huge amounts of money can move across the globe in a snap, this indicator has lost its value over the years.

Monthly Data Reports

There are also economic data that come out every month.

The New Residential Housing Construction Report is an example. It comes from the Census Bureau and the Department of Housing and Urban Development (HUD), and it’s commonly called “housing starts.”

This report breaks down the number of building permits issued, housing starts, as well as completions. The data is an important leading indicator because construction activity typically picks up early in the expansion phase of the business cycle.

Meanwhile, the Consumer Confidence Index (CCI) comes from the Conference Board. It’s one of the many reports that gauges the correspondents’ attitude and sentiment.

It is not necessarily exact or precise. However, it scores high on accuracy when it comes to predicting consumer spending. And consumer spending accounts for 70% of the economy.

Industrial and Manufacturing Report

There are also important reports that tell something about industrial and manufacturing growth.

The Durable Goods Report (DGR) from the Census Bureau is one such report. It is used as a barometer for the health of heavy industry, and it surveys manufacturers of goods with a life expectancy of more than three years.

Such purchases by businesses represent capacity expansion. Meanwhile, sales at retail indicate increasing confidence among consumers.

Because of the high volatility on a monthly basis, moving averages are used. Year-over-year comparisons are also utilized to spot the pivot points in the economy.

Meanwhile, the Factory Order Report, also coming from the Census Bureau, is a more detailed and less timely report than the GDR.

The main downside of this indicator is that it fails to account for price changes that can greatly impact inventories during both inflationary and deflationary times.

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Finance

Viva Wallet Leads the European Migration to Contactless Payments

The contactless campaign caught heat with the dawn of Coronavirus as customers took more caution and advocates worldwide positioned themselves to increase adoption and user awareness.

In Europe, Viva Wallet, a pan-European neobank, was among the first to lead a successful March campaign that saw “countless businesses across Europe” switch to a digital ecosystem. Experts at Viva Wallet engineered a swift response to the unprecedented demand for smooth contactless transactions throughout Europe.

This involved the speedy rollout of POS hardware like Android card terminals and software like Viva Wallet’s Android POS app. And sure, the POS app enabled the platform to digitize payments for both micro, medium, and large business– even powering the tiniest companies with no physical presence.

That free Viva Wallet app came as a haven, excluding any monthly fee and enabling immediate use of a digital banking card, making it the best solution for small and large brands.

According to Haris Karonis, Viva Wallet’s Creator and Chief Executive, “the platform came as a kiss of life for startups and established companies amid the increasing need for digital tools and instant onboarding to the latest payment avenues.”

The company’s status as a European neobank and its digital standpoint positioned it as the perfect bridge to the online payments gap exposed by COVID-19.

So far, Viva Wallet has set foot in 23 nations across Europe and serves a whopping 100,000 merchants.

Via Viva Wallet’s “bank in a box” offering, retailers can take instant global payments and local cards, both at the brick-and-mortar and online, and access a local IBAN account plus a BIN business debit card from a single vendor, providing retailers with a transparent and straightforward digital remedy.

But that’s not all; retailers who use both card acceptance and the business card will enjoy zero percent card acceptance costs.

Viva’s aptitude to frictionlessly initiate local and global payments is one of the primary reasons its retailer base has snowballed in the double-digit.

“A fully localized service offers numerous advantages to merchants by ensuring compliance with regulatory standards,” says Karonis. “The quick access to local IBAN accounts also allows for the incorporation of add-on services, like providing Merchant Cash Advances, which is our next rollout.

Final Words

Having set foot in 23 nations across Europe and onboarded a whopping 100,000 merchants, Viva Wallets is undoubtedly committed to spreading digitization across the continent.

This success is also a sign that contactless payments will continue to grow even post-pandemic.

Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the world of bestpaymentproviders.co.uk. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.

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Investment

TAX SAVING INVESTMENTS OPTIONS

How to save tax? This is one of the questions that bothers almost every investor. Every year thousands of tax payers find out tax saving investments at the end moment in order to save on tax. This could result in choosing investment options that do not align with the portfolio of the investor. Let’s look at some of the best tax-saving investments:

  1. Equity-Linked Saving Schemes (ELSS) – ELSS funds invest a majority of their corpus in equity and equity-related instruments. Thus, ELSS tax saving mutual funds offer the dual benefit of tax saving and higher returns. These funds have the lowest lock-in period of just 3 years among all the other tax-saving investments. ELSS tax saving funds are eligible for ELSS tax-exemption of up to Rs1.5 lakh u/s 80C. An investor can save up to Rs46,800 by investing in ELSS tax-saving
  2. Unit-Linked Insurance Plan (ULIP)–It is a combination of investment plus insurance. ULIPs are insurance policies that provide an individual with the potential of wealth creation while simultaneously providing them with the security of a life cover. Under the ULIP scheme, a part of the premium goes towards life cover and the rest is assigned to a common pool of money, called a fund, just like a mutual fund, that invests in debt or equity or a combination of both. These schemes have a lock-in tenure of 5 years. The premium paid towards ULIPs are eligible for deduction u/s 80C for up to Rs1.5 lakh p.a.
  3. Senior Citizen Savings Scheme (SCSS) – It is a government-sponsored savings scheme accessible to Indian residents who are above the age of 60 years. The maturity of this savings scheme is 5 years, although it can be extended by 3 years. The interest rate on SCSS is declared at the time of purchasing the scheme.SCSS offers the highest interest rates as compared to different savings investments available in India. SCSS schemes also offer tax benefits of up to Rs1.5 lakh under Section 80C of the Income Tax Act, 1961.
  4. Public Provident Fund (PPF) – It is a tax-saving investment scheme offered by the Government that offers a fixed rate of interest and returns on the investment amount. The interest rate on PPF is revised and paid by the Government every quarter. It is one of the most popular long-term investment options due to its combination of safety, returns and tax-saving attributes to its investors. These securities have a maturity period of 15 years. PPF accounts fall under the EEE (Exempt-Exempt-Exempt) category in which the principal amount, interest earned, and the maturity amount is exempt from tax. The amount deposited during a year can be claimed under the overall limit of 80C deductions.

However, one should not invest just for availing the tax-saving benefits. Investments do not follow the concept of one size, fit all. Hence, an investor should choose an investment option that best suits their financial profile. Their investment havens should align with their financial goals, investment horizon, risk appetite, and other parameters. Happy investing! 

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Finance

Achieve These Top Five Life Goals with a ULIP Policy

Every person has particular goals that they want to achieve in the future. Some of them could be going abroad for higher education, settling down in a foreign country, travelling the world, etc. But accomplishing your ambitions requires capital that cannot be obtained only via saving. Thus, you have to invest money in financial instruments suitable for you and fulfil your life goals. Unit-Linked Insurance Plan (ULIP) is one of those tools that offer a life cover along with an investment component. But if you are wondering ‘why should I invest in ULIPs?’, here are five life goals that you can accomplish with this investment tool.

Top Five Life Goals That You Can Achieve with ULIP Insurance

1.   Retirement Planning

Sooner or later you will have to sit down and start your retirement planning which will include figuring out the corpus required following 60. After understanding your expenses and estimating the capital you need, you also need to begin investing in financial instruments accordingly as saving up doesn’t cut it. Because ULIPs have an investment component, you can keep contributing towards the funds to get lucrative returns. Also, as you are accumulating funds for your retirement, staying invested for the long-term can earn you high returns. Thus, by investing in ULIP plans, you can plan your retirement and generate the required capital.

2.   Travel Goals

Life can be stressful with a full-time job and responsibilities at home. Thus, most people love taking a break every now and then and travel to some quaint location. Many also consider going on an extended travel spree after 10-15 years of working. If you are one of them, you do not have to work tirelessly for that vacation but rather contribute towards a long-term tool like ULIP. Holding your investment in funds for a lengthy period can help achieve those travel goals you have longed for.

3.   Higher Education

As parents, we love giving our children the luxuries that we never enjoyed. So be it a renowned institution for grade school or an opportunity abroad at a prestigious university. Many individuals begin saving up for such moments that will give their children a better life. Contributing towards a Unit-Linked Insurance Plan can give you the required capital but also safeguard your family in case something happens to you. The dual advantage of a ULIP policy makes it a beneficial option as a life cover is also as important.

4.   Financial Backup

Be it for your parents or your spouse, a financial backup has to be available in case of a mishap. And when you are the only earning member of the family, leaving them without any safety net can be worrisome. A life cover is the best possible cushioning you can provide to your loved ones if something were to happen to you. The death benefit can offer financial stability and allow them to carry on without becoming dependent on anyone else. Insurance plans like ULIP enable you to choose the sum assured amount to be given to your beneficiary keeping their expenses in mind.

5.   Tax Savings

Who doesn’t like reducing their tax liability even if it means investing some money? Though it is advised to not consider an insurance plan simply as a tax savings tool, you can enjoy substantial ULIP tax benefits. The premiums paid towards securing an insurance policy can be claimed under Section 80C of the Income Tax Act, 1961. There is a maximum cap of INR 1,50,000 that can be claimed per financial year. The maturity or death benefit in ULIP insurance can also be claimed for tax deductions under Section 10(10D). This way ULIP becomes a lucrative method of saving on taxes while enjoying a financial safety net.

To achieve more such long-term goals, ULIP policies can play a vital role in fulfiling them. It is a multi-faceted insurance plan offering several benefits to secure you and your loved ones.

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