Getting a dog, or any other animal, to become a loved member of the household is a big step that many families decide to take at some point in their lives. Dogs and cats and other little domestic animals can offer a lot of love and warmth to a home, which is why so many welcome pets into their loving arms. With anything, there are both pros and cons to pet owning, and one of the biggest things that concern a family when it comes to the decision of welcoming a pet is the financial impact it will have.

Dogs are one of the most common pets that are seen in modern households. They’ve been man’s best friend through the ages. A dog can offer additional security and protection, as well a fierce friend that will last a lifetime… in dog years.

However, they also can get expensive. Some dogs, like purebreds, can be hundreds of dollars, and that is just the initial price of your pet that doesn’t include all of the supplies and equipment you’ll need to care for them for the years to come.

Regular and emergency vet visits. Dogs should be seen by a vet often and stay up to date on their immunizations and treatments to avoid getting medical problems. Sometimes these things can still happen, so you’ll have to also plan for the possibility of extra medical bills for your pet.

Special care equipment and furniture. Large dogs and older ones will need special beds that can get expensive. Walking gear can vary depending on the size and strength of your pet, and if they have existing medical conditions, they may need certain food that can get expensive. Planning for these things can help you decide a budget.

Potential injuries and prevention. Your dog may get hurt or may end up hurting others. This is rare, and some legal funding companies will offer a dog bite loan to help you stay on top of things financially while you’re working through the repercussions financially for a dog bite.

Many people have allergies to pet fur. Making sure that everyone has medicine and makes an appointment for allergy testing can get expensive depending on how many people are in your home.

Destroyed or damaged furniture and items. Dogs, especially puppies, are playful and energetic. They’ll get bored and lonely when you aren’t home. In the early months before your dog is fully trained, you may have to deal with damages to the things in your home. This can also go for cats.

Moving can get a little pricey if you have to bring the pets. Paying for transportation for a pet can get expensive depending on the size and weight and type of your pet. Some can get in the car with you, but you’ll have to make more frequent stops.

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In today’s internet savvy world, we all purchase something or the other online. From apparels, airline tickets, to gadgets, literally EVERYTHING is only a few clicks away! Even while writing this article, I ordered for a purple kurta to be worn in my office Holi party!

In fact, it’s not just clothes and groceries that are selling like hotcakes in the internet world, as people are buying insurance online as well.

Either you or someone in your acquaintance might have bought bike insurance online. After all, as per the research across 18 cities, more and more people are buying insurance online. Of the 3007 respondents,24% purchased motor insurance online.

However, if you are reluctant about going ahead with the online mode and prefer the conventional mode of arranging a meeting with various insurance agents and visiting their offices for detailed discussion, this article is meant just for YOU!

Benefits of online buying/renewing bike insurance:

Buying or renewing bike insurance online can prove advantageous in various ways, such as:

1. Automated servicing: The online platform is not meant for buying insurance only. As a prompt and efficient servicing channel, current policyholders can adopt the online mode to renew their policy as well, regardless of whether they purchased their policy online or not. Further, with just one click, you can download product literature like brochures, policy wordings, etc. and get instant premium quotes online.

2. Online assistance: If you are purchasing the insurance online, it doesn’t mean you will not get any assistance. Most of the insurance companies have live chat facility on their websites where customers can seek clarification in case of any query. Also, customers can call on the toll-free number of insurance companies to clear all doubts. You can go further and ask the insurer for a face-to-face meeting. The insurer will send an executive for further assistance.

3. Paperless transactions: Getting into paperwork is both time consuming and boring. But when you go online to buy an insurance policy, it requires just a few easy steps. Besides being efficient, you are protecting the Mother Nature by going paperless!

4. Time-saving and convenient: To purchase insurance offline, you need to go through the tedious task of filling long insurance forms. However, when you buy insurance online, you need to submit only a few details. Also, at the time of policy renewal, it’s easy to reload your information. As the insurer already has your details, you only need to submit your policy number. Further, insurance companies have designed an easy-to-understand user interface which has made the entire process of buying the insurance quicker and easier. And who wouldn’t love to cut the hassles of going out and standing in long queues, when buying and renewing of bike insurance can be done from the comfort of home. While watching the ‘Friends’ season on television, or during the office break or even from your mobile, bike insurance can be purchased in a hassle-free manner.

5. Cheaper premium rates: It is disheartening to see that nearly 75% of two-wheelers plying on roads are uninsured even when it is mandatory to have a third-party insurance to ply your vehicle on roads. Many times, people avoid the insurance to save some penny.However, buying a bike insurance online ensures additional savings. The insurance quotes are given for free, and in fact, you can ask for as many quotes as you want. Moreover, there is no obligation to purchase either! As there is no involvement of any agent and the insurer saves on paper and administrative cost, the same is passed on to policyholders in the form of cheaper premium rates.

6. Away from nasty agents: Though, an insurance agent plays an important role, sometimes they may not be helpful. Often, insurance agents prove to be pushy and may even have vested interests in a particular insurance policy. But when you go online, you get an option of comparing and choosing the right insurance policy after analyzing every aspect carefully. Also, there will be no interference or biased suggestion from insurance agents!

7. Instant policy issuance: When you buy a policy offline, the insurer takes a lot of time in processing physical documents. Whereas, in the internet world, the processing of information is instant and so is the issuance of your bike insurance.

8. Storage of policy documents at one place: When you go online, you will always have the soft copy of your insurance policy in your email. It means, you can access your policy anytime and anywhere. Did you know the Insurance Regulatory Authority of India (IRDAI) has introduced a digital motor insurance initiative known as e-VahanBima?It says that you don’t need to carry your motor insurance policy document every time you take out your vehicle on the road.

9. Check policy review: As you do it at the time of purchasing other things on the internet, you can check the reviews of previous customers and their experience with the insurance company before going ahead. It means, you can compare features of different policies and know about the reputation of a company before zeroing in on.

10. No impact of demonetisation: I know, the ‘demonetisation phase’ is over, but what if the government comes up with its second season? As it is said, ‘once bitten, twice shy’ so, go for the online mode to ensure that any cash crunch scenario doesn’t affect the process of buying or renewing bike insurance. All you would require doing is, log on to the insurer’s website and fill the important details, including policy information, vehicle registration number, add-ons, if any, and make payment via net banking.

Remember, accidents happen unannounced.Therefore, the least you can do is, apply for a comprehensive bike insurance that takes care of the associated expenses and ensures your financial security.

Further, it is reassuring to know that buying bike insurance online doesn’t pose any serious safety threats as every step is taken by an insurer to keep your personal information confidential.

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When you think about car insurance, it is always about accidents and getting yourself protected in the event of an accident. We believe that having a third party liability insurance policy is enough since it is mandatory by law to provide for damages done to third parties involved in a mishap. However, is it enough?

God, Forbid! What if you meet with an unfortunate scenario of your car getting broken into and stolen? Would you be covered for the loss?

Car theft is something that would not have crossed your mind. However, looking at the alarming statistics of theft in India, it is worthy to revisit your insurance plan and get yourself covered for theft.

Importance of Comprehensive Insurance Plan

Car insurance policies fall into two categories – third party liability and comprehensive plans. Third party liability covers for damages done to third party or property in an accident and is compulsory to own one as per the Indian law.

On the other hand, comprehensive car insurance plan comprises of third party liability coverage and also covers you for damages done to your car due to accidents, theft, and unforeseen mishaps.

A comprehensive insurance policy is the most sought by all since it gives the much-needed security against unforeseen damages and provides full-proof protection for your car. It is wise to opt for a comprehensive insurance plan to give you complete peace of mind.

The compulsory third party liability insurance policy is not going to help you in any way when you discover suddenly that your car is stolen. Whereas, when you own a comprehensive insurance policy, in the event of theft, the insurance company will come to your rescue and reimburse for your loss.

All you need to do is to lodge an FIR with the police and inform the insurance company of the same. You will be covered for the loss, and your money will be reinstated back to you as per the terms and conditions of the policy. Your car is the most prized asset and going an extra mile to protect it, using a comprehensive insurance policy is essential.

Why should you consider upgrading to a comprehensive cover?

You need coverage to protect you against damage to your car as opposed to the third party only If your car is stolen, you would have to pay up in full to purchase a brand new vehicle. Whereas with the comprehensive insurance plan, you are eligible to get back your hard-earned money, even if not in full.

Added level of protection that gives you more advantages

Don’t go for the lower level of cover just to save few bucks. You will save more in the long-run when you opt for comprehensive plans.

Stay safe against the crime of theft and other unforeseen damages that can happen to you anytime

Be secured on the road and also off the road. Don’t pay up for something for which you were not at fault

As seen above, the advantages of owning a comprehensive insurance policy are plenty. So make a wise choice and don’t regret later.

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Everybody has heard the saying “health is wealth”. While it is true that good health is something that money cannot buy, access to funds can certainly give you the best medical care. Life is uncertain and despite all your safeguards, accidents and diseases can strike without warning. It is therefore prudent to make arrangements for the wellbeing of yourself and your family, well in advance.

Medical costs today are prohibitive, making the need for sudden treatment or hospitalization a huge financial burden. If you are not covered under a health plan, you may find yourself in a difficult situation and can end up depleting your savings.

Benefits of Health Insurance

• Financial stability – Medical costs are increasing at a rapid pace. In case of hospitalization, you will have to incur several expenses, such as doctors’ fees, diagnostic tests, medications, and lots more. If you have to pay for these, you may end up spending all your savings. When you have purchased the best health insurance coverage, all these expenses are paid for by the insurer.

• Avail the best medical care – Many people who are not covered under a health plan often compromise on the quality of care they receive. However, with adequate health insurance, you can focus on receiving the best medical care and recover earlier. Most insurers offer a wide network of hospitals, which gives you the additional benefit of cashless hospitalization.

• Tax benefits – In addition to the above-mentioned benefits, individuals can avail of tax benefits on the premium paid for purchasing the health insurance policy. Under section 80 D of the Income Tax Act, premium up to INR 25,000 per annum is tax deductible. An amount of INR 30,000, paid as premium for senior dependent parents covered under these health plans, is tax deductible under this section.

Tips to Avail the Best Plan

• Individuals must pay their monthly premiums on time to ensure the benefits under the health insurance plans remain valid throughout the policy term.

• If you receive any message asking for additional information and/or documentation, it is important that you submit the same quickly to avoid loss of coverage.

• It is also important to pay your renewal premium in a timely manner to continue enjoying the different benefits available under the insurance coverage.

If you follow these simple tips diligently, you can be sure to reap the benefits of your health insurance policy. Do not wait for a health crisis to learn more about health insurance.

Know more about health insurance tips at 5 Paisa Insurance

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A high yield bond, also known as a junk bond, is one that has an inferior credit rating when compared to corporate, treasury, or municipal bonds. The greater amount of risk associated with these bonds, however, conversely result in a higher yield than most traditional bonds. The two leading rating agencies S&P and Moody’s rate these bonds lower than BBB and Baa respectively.

There are, however, several advantages to investing in high yield bonds. There are also techniques you can use to lower the risk attached with these bonds. Forming high yield mutual funds will reduce the loss that you will incur in the event that a company defaults. Some of the benefits of these junk bonds are:

Increase Your Income

The yield of junk bonds can actually far surpass those of the traditional government or corporate bonds or even certificates of deposit. There are two main reasons for this. The first is that the high yield bonds are generally considered ‘risky’. This unfortunate risk assessment means that companies with low credit ratings need another hook. This arrives in the form of higher interest rates on the money invested. Thus, in the event that the company does well, you will receive much more money than you invested. The second explanation is that these bonds have very little correlation to the traditional investment market. This way you can still make a profit even if the stock market’s performance declines.

Capital Growth

The advantage with investing in companies with poor credit ratings is that these ratings are not fixed. The improvement of the market, industry, or corporation that you have financed with, can usually affect the credit rating of the company. This means that the credit rating can go up. This would automatically result in the rise in the price of your high yield bond. This is known as capital appreciation. You can observe growth in your capital due to a number of reasons including improved reports, mergers, acquisitions, or other economy-related events.

Insurance

Junk bonds may not be the safest asset to invest in. There are, however, still some ways that companies attempt to take the sting out of any defaults. For instance, it is a much better option to own bonds in a company than to be a shareholder in the same corporation. In the event a corporation is forced to liquidate, bondholders have a better claim to the capital structure of a company than stockholders. This means that they are more likely to receive payment. The discrepancy between the initial investment and the final payment is known as the ‘recovery rate’. The assets of a deteriorating company will be first divided among the bondholders before the shareholders. Even investors who hold bonds with a very low rating are more likely to be reimbursed than the average stockholder.

High yield bonds may be a more volatile investment than more traditional investments, but their considerable income yield may be well worth the risk. Furthermore, there are many ways that you can negate these risks with high interest rates and mutual funds. This ensures that your venture is a little more reliable.

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