How do I know what life insurance policy to choose?
Here are 3 main types of life insurance policies:Term life insurance no medical exam – is the cheapest form of coverage and offers temporary coverage up to 30 years. After the term policy reaches its lifespan it either ends, or in some term products you can resume/renew but the cost of insurance keeps increasing to a point where you are basically paying another monthly mortgage and it keeps on skyrocketing. By the time your term coverage reaches its life span you are either to old or to sick to even qualify for another life insurance product and if you do get approve, your monthly premium will be to costly. Term is great to have on top of permanent coverage but not as a primary.Whole life insurance no medical exam – is a form of permanent coverage that is guaranteed to pay out instead of expiring. Whole life is generally the most expensive type of coverage and you are required to pretty much pay that premium for the rest of your life there are also options where premiums stop at age 65. Although you also have the ability to accumulate cash and access it tax free via loans but interest rates on the returns are relatively low. Whole life insurance also has ZERO flexibility and what I mean by that is if any financial issues arise you cannot lower your premiums.Universal life insurance no medical exam – is also permanent coverage and offers lifetime protection. Universal life insurance may seem similar to a whole life and the two are often mistaken as the same but it is a totally different beast. Universal life offers total flexibility in giving you the option to just pay for the cost of insurance or to contribute excess amounts for cash accumulation earning interest. With the cash value growing, you have the option to have the cost of insurance pulled from it, which means you do not have to pay premiums if you are lacking funds in the mean time to pay for it and last but not least just like the whole life it gives you have tax free access to your cash value.Make sure the life insurance policy you apply for has LIVING BENEFITSRead link below to learn more about living benefits:Best life insurance no medical exam - Advisor Bros
Which is better to buy, a first party or a third-party bike insurance?
Which is better Third Party Two Wheeler Insurance or Comprehensive Coverage?In India, two-wheeler i.e. motorcycles, scooters, etc. are probably the most chosen mode for daily transportation. Not having a right insurance can turn out to be even more expensive during major accidents. People get confused between the third party and comprehensive two-wheeler insurance.Let’s see what the difference between the two is and which is better?Why comprehensive insurance?A comprehensive two wheeler insurance policy covers the vehicle against theft, loss, and damage. This coverage will also cover personal accidental expenses incurred for the policyholder or rider in case of an accident.What is covered under comprehensive insurance?Comprehensive Insurance covers any injuries and damage expenses for individual as well third party expenses due to accidents, fire, theft, natural calamities, etc.What is not covered under comprehensive insurance?Damages caused due to:• Mechanical or electrical breakdown• Driving without a valid driving license• Driving under the influence of drugs or alcoholWhy third-party liability insurance?·Third party insurance will protect against damage/loss of the third party or third party property.· As it is mandatory by law to have insurance thus people with fewer budgets or just for formality basis buy this insurance.· Apart from third party expenses, it also covers policy holder expenses which can be avail as add on cover.What is covered under third party insurance?• Third-Party Insurance covers the damages caused to an individual or third party due to accident.What is not covered under Third-Party Insurance?• Damage caused to the vehicle of the policy holder.• Injury caused to policyholder• Damage caused due to-Theft, Natural calamities, Fire, Civil disturbance, Mechanical or electrical breakdown• Driving without a valid license• Driving under the influence of drugs or alcohol• When the policy is not active or expired.The conclusion which is better?The decision of buying an insurance coverage is completely dependent on the customer. But experts suggest one should buy comprehensive coverage as it will cover individual’s personal cost as well as third party expenses. A lower premium should never be a matter of a concern when considering the number of road accidents in our country. It’s better to invest some money now in vehicle insurance rather than wasting money on high medical and maintenance bills.
Why is Motorbike insurance compulsory in India and who all are covered by the basic insurance policy?
By law you are supposed to carry your insurance policy, PUC drivers licence and RC card.The cops don’t have right to arrest you without any credible reason, but if you are unfortunately involved in a road mishap you could land in trouble for not carrying your documents. Recently there has been an upgrade that you cant be asked by the cops to show the two wheeler insurance policy if you have made traffic felony. You will have to present your licence and on that you will issued a penalty which you have to pay.An insurance policy is an investment worth making. It is also, according to Indian law, a necessity. The Motor Vehicle Act covers a variety of expenses that you may have to bear in the event of a two wheeler accident. It also covers your two wheeler in the event of a theft, fire, malicious act, natural disasters etc. Further, the legal liability to third party personal injury and property damage which arises out of the accident is also covered in this, as well as personal accident cover.
I got a dent on my new Activa 125 which will cost around 1000, so is it viable to claim insurance for the same or should I pay it all by myself?
Lets assess the loss to your activa:Policy excess: 100/-Depreciation (if your policy is normal i.e. no depriciation covered): Paint: around 400/- since it will involve labour charge so, Paint material (25%) : 100Depreciation on paint material (50%): 50Labour charge:300/-Denting of paint material: 200/-So the cost incurred by you = 200+300+50-100= 450/-.I personally think that you should not incurr a loss of more than 500/- at any cost. Any thing above than this figure would mean either the dent is too heavy and you need to replace it qitb new one. Or else the repairer is overcharging you. So if you go to your insurancr company, it will give you only 450/- although you have received a bill of 1000/-. Hence, yoi have to pay 550/- to repairer.Now, since you have claimed the loss to your company, you become inelligible for no claim bonus. Thus next time you may be charged around 300 to 400 extra. So, total cost that you hqve to pay for that dent on you activa will be = 550+300= 750 If we add the share that company paid: 450+750= 1200/-So a dent which may cost 1000 (or 450/-) amount paid is Rs 1200.So i suggest dont claim your loss to your insurer. Better bear it yourself. Rest it is up to you.....
Is TVS Jupiter scooter reliable in the long term?
We've had tbis white tvs Jupiter in my family for almost 5 years now and it has been used as roughly as any scooter could be. It's been ridden heavily loaded and ridden in a very spirited manner almost every time and man can this vehicle take abuse. I'm stunned by how well the engine has kept up with all this and it still runs perfectly.All I've done for this scooter in past five year is to give it a new engine oil every 2500–4000 kms or every 6 months with either tvs, castrol 4at or sometimes motul automatic scooter oil too which are very cheap oils. Scooter has completed very rough 23000kms till date.I also used to change spark plug every 2 years and a new a new air filter every year and cleaning it once in 6 months by pressured air.Its only after 5 years that i had to change front fork oil and seals and only because a friend of mine suggested to do so which didn't really made much of a difference and costed me only 300 rupees if done by any nearby local mechanic.My say is that tvs Jupiter 110cc is a veey reliable scooter given you take good care of it's engine and replace oil regularly
Is it worth it to buy a bike or scooter from Paytm?
Paytm is a good cashless option to buy a two wheeler . But, I would recommend visiting the nearest dealership who partners with Paytm for quick response.Pros:Cashless transaction (Only Ex-Showroom price)Cashback amountCons:Ex-Showroom (Base) price may vary in app and in showroomConvenience fee of rupees 500I bought TVS wego through Paytm. I visited the showroom which partners with Paytm. The base price in app was rupees 50421 with rupees 2500 cashback. But actual price in the showroom was rupees 49990. But the dealer couldn’t help with this issue. Also Paytm support said such variations may happen. Since the dealer insisted full payment in cash (if not via Paytm) citing some charges for card transaction, i finally booked the scooter through Paytm. Remaining varying charges of road tax , insurance, extra fittings etc were paid in cash.Paytm price (Base price+ Convenience fee): 50421+500 = 50921Actual price via Paytm (Paytm price - Cashback): 50921–2500=48421Total Savings (Actual ex-showroom price - via Paytm ): 49990–48421=1569I got the vehicle the next day instead of waiting as shown in app screenshotPicture source: My phone screenshot
What is the profit margin of a new bike dealer?
Every company’s primary aim is shareholder wealth maximization and Bajaj Auto is no different in this regard. The 2-wheeler major has been selling the Pulsar in large numbers and Rajiv Bajaj has recently claimed that the Pulsar is the most profitable motorcycle in the whole wide world! He says that a profit margin of 20% is what the company earns on every Pulsar sold, which is indeed remarkable. Infact, Rajiv Bajaj further goes onto claim that Bajaj Auto is the most profitable company in the world, which itself helps them to be cash strong and helps them in picking up stake in global companies.The Bajaj Pulsar has always been priced aggressively and is known as a value for money product. Even with such pricing, Bajaj Auto maintains a stupendous margin on the product. The reason for such high margins could be extreme localization of parts and long term supplier contracts. Furthermore, the parts from the Pulsar are also used on the Discover and the KTM Duke, thereby giving the company economies of scale. Now we know why the Bajaj RE60 looks like a bigger rickshaw and the company is not even calling it a car, because Bajaj knows that profit maximization is of foremost importance.https://www.motorbeam.com/bajaj-...So, if the profit margin of this company is this much then a good proportion will be earned by their dealer.