Saturday, February 26, 2022

What is Mediclaim?

What is Mediclaim?
What is Mediclaim?
What is Mediclaim?

Healthy living means a better life and a better chance of making money.

“Health is wealth” is a very old saying but it fits very well in today’s era. The elders say that 'health is a thousand blessings'.

The percentage of diseases has increased due to modern diet, chaotic lifestyle, and germs becoming more powerful and contagious. New infections are arising. Whose treatment costs too much.

Deposit capital is often spent on illness or accidents.

What is Mediclaim: - Mediclaim is a health insurance policy that covers accident, illness, ailment, and hospitalization.  It also covers pre- and pre-hospital admission charges up to a certain amount and day. However, the spending limit depends on the schedule of the various agencies and policies you take. Mediclaim or health insurance is a way to protect your family from excessive expenses due to illness or accident. Yes.

Because of personal awareness and awareness, life insurance is often available in every home, but probably not every family is still covered by Mediclaim. In most homes, health insurance is considered unnecessary. Due to a lack of awareness and concern about the cost of premiums, only ten percent of the billions of people currently have health insurance.

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Why Mediclaim -

 For the protection of self and family.

 Easy Cash Availability (If you have a card you do not have to pay at the respective hospital)

 15000 per annum under income tax section 80D

 Health risk cover

 When to take - Health insurance should be taken with marriage. Even before that, parents should take out an insurance plan if they have age-related risks.

Take a plan - you can take a policy keeping in mind your age, your pocket, your illness, your tax deduction, and comparing the offers of different companies.

Policy - Adopt up to three lakh policies for each person, so that the big risk can be covered. You can also take out a family floater policy with additional top-up plans.

Organizations:-   Bharti XA, ICICI Lumberyard, United India Insurance, Future General, Star Health, Apollo Munich, National Insurance, Royal Sundaram Max Bupa, etc. are active in many health insurance sectors.

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What to keep in mind - read the insurance terms yourself.

 Accept the policy as soon as you are satisfied with yourself.

The measure of the aggregate guaranteed, keep in mind that the claim should only be received.

 Study how many returns are available, what are the benefits. You can create a comparison chart if you want.

Other Benefits - Usually 5 percent to 10 percent bonus gives the company four consecutive claims for a free year

10% discount is available for four families.

 Free drawn four-year claim free health check.

Some amount of compensation

If you adopt a policy for parents, rebate IT up to Rs 15000 of premium

 Discount up to Rs 20,000 if you are a senior citizen

What is not included: - The cost of treatment of diseases you have at the time of adoption of the policy

Sickness costs within the first 30 days of starting the policy

AIDS-related diseases

Cosmetic surgery, dental surgery

Joint replacement (except accident etc.)

A few infections like such as cataracts, hernias, piles, sinusitis, etc. develop after 2 years.

What to do - before signing the policy

 Check Lifetime Renewability

If asked to pay another, they should be checked

Check if there is any ceiling in the room rent

Check to see if there is any subtraction of the operation

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 Be careful: -

 When billing at the hospital, ask your medical limit, don’t bill them further because after claiming the whole policy, the next risk cover remains incomplete or has to be full out of pocket, so get complete information about the cost.

Legal Aid: - If you are dissatisfied you can complain to the Insurance Ombudsman or the Insurance Regulatory Development Authority.

Never try to obscure health insurance.

Remember a healthy life means a better life and a better chance of making money. 

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Saturday, February 19, 2022

Best Guide For Balance Transfers

Tired of high credit card fees? Why not reduce your interest payments by transferring your balance to another card? 

A balance transfer is the smartest and easiest way to reduce credit card costs. Just make sure you understand the terms and conditions of the new card, so that you can maximize your savings.

Before you expire and replace your credit card, consider whether you want to keep your current card. If so, just ask for a lower interest rate. Tell your credit card company that you've got another card at a much lower rate and that you'll need to transfer your balance if it can't settle your transaction. However, if they decline your request, be prepared to do so.

Why use Balance Transfer?

A balance transfer can bring many benefits to cardholders. Transferring a balance to a lesser credit card can lower your interest rates and fees significantly. Credit card companies charge different interest rates on balance transfers and purchases. The most common rate is 0 percent for six to 12 months.

For example, no interest for 12 months for Chase Ultimate Rewards MasterCard and Citi Platinum Select MasterCard balance transfers and purchases. Chase's Discover Platinum Card and Hayes Visa offer reduced introductory rates after eight and six months, respectively.

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Some cards combine an introductory annual percentage rate (APR) with the billing cycle. GM Card and Fifth Third Bank Cash Rewards MasterCard charge 0 percent APR for the first six and four cycles, respectively.

You can also get other benefits by doing a balance transfer. For example, you'll be eligible for a new card with no annual fee, no overpayment increments, or cashback on purchases and other rewards. Some cards also offer car rental insurance, identity theft protection programs, and money-saving discounts.

How to transfer balance

Credit card companies typically use low-interest-rate balance transfers to attract new customers. There are three main ways to transfer the balance on the card. One way is to complete the documentation provided by your new card issuer. Or you can contact the credit card company to whom you wish to transfer the balance and arrange the balance transfer.

You can transfer your balance by writing a balance transfer or facility check. These simple checks look and work like regular checkups. All you have to do is write a check for the balance transfer amount and send it to the company from which you want to transfer the balance. Some probes become obsolete, so make sure you use them on time. If you do not do so, you will be charged for the regular interest rate set for your card.

Whichever transfer method you use, you can transfer as much as the credit limit on your card.

Transaction costs and other fees

Banks usually treat arrears transfers as cash advances and charge similar transaction fees. There is no charge for dues transferred in response to a special offer. But for Citi Platinum Select and many other companies, the transaction fee for balance transfers is 3% of each balance transfer amount, with a minimum of $5 and a maximum of $50. Keep in mind that very few people can transfer funds as the transaction fee may exceed your potential savings.

Apart from the standard transaction costs, banks also charge special fees which may surprise you. Some of the most common special charges include:

Late Fee – Some banks wait a few days before estimating a late fee, but many levies it a day after payment. Companies charge either a flat fee, such as 10 or $15, or a minimum percentage of what is owed, such as 5 percent. To avoid late fees, mail your payment so that it arrives before the balance is due. If you pay your bill at a bank branch or ATM, find out how long it will take to process your payment. Sometimes the payment made at a branch or ATM is not credited for a few days.

High credit limit fee – Most cards charge a fee if you exceed your credit limit. These charges are levied each time you exceed your limit, so you'll need to incur several of these charges during the same billing period. Banks typically charge $10 or $15 for this fee or 5 percent of the amount at or above your limit. These charges are in addition to the interest charges.

Lost Card Replacement Fee? If your card is lost or stolen more than once and you need a new card, some companies will charge you a replacement fee. These fees range from $5 to $10.

To pay

After you transfer the balance, make sure all your payments are complete and on time otherwise, you will automatically be charged more. Generally, there is no extended tenure for arrears transfer, so interest will accrue immediately. (If you have an introductory 0% APR, no interest will actually accrue.)

While making a payment, it is important to understand that the payment you make will first apply to the lower or incentive dues and then to the higher APR. This means you'll be doing a 0% balance transfer before touching the balance on regular purchases, which can be charged at a rate of 9 to 18 percent. As a word of advice, consider using a separate card for your regular purchases and paying off the balance each month. Limit your balance transfer to a different card.

After the Evangelist's Honeymoon

As it expires, normal interest rates will apply. The standard variable APR for Citi Platinum purchase (8.99%) will be applied on all outstanding purchases and outstanding transfer amounts. Similarly, the standard variable APR (19.99 percent) for cash advances will be applicable on all cash advances. If you default in the Citi Platinum Card Agreement, the Company may immediately increase the APR on all balances, including any promotional balances, to a variable default rate of 28.99 percent.

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Your initial APR will depend on your credit history. If this interest rate is much higher than the rate on your old card and you have an outstanding balance, you will lose your money. Of course, you can transfer your balance to a new card with a lower promotional rate. Just be careful not to get caught in a vicious circle that can turn later


Saturday, February 12, 2022

HOW TO AVOID BANK FEES

 AVOIDING BANK FEES
HOW TO AVOID BANK FEES
HOW TO AVOID BANK FEES

Sometimes many of us face the fear of check bounce, which results in huge charges including overdraft charges and bounced check charges with the bank. The fee charged by the institution receiving the cheque is not mentioned. 

This article is designed to help you avoid the charges that are commonly associated with bouncing checks. It's important that you keep a constant eye on everything that goes in and out of your checking account.

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It's important to update your registration every time you do something with your checking account. This is true with every check that is drawn through an ATM machine, if your debit card is used for your purchases, or if you use it as a direct payment method for our account. Whenever you perform these activities and there is no exact amount in your checking account; As a result, your account will be overdone.

When this happens, your bank has a few options, they can pay off the outstanding amount even if you don't have the correct amount in your account. If they choose this option, you will be charged an overdraft fee. Your bank can only return a check marked as NSF (non-sufficient funds) without paying a single penny, then you will be charged for bouncing the check with the bank as well as the merchant.

To avoid these charges, make sure you are consistent in your register, make sure you write them down with every check, withdrawal, or purchase, including any charges associated with these activities. Keep your register in balance at all times, this will help you be sure of what you do and don't do.


Also, make sure you always keep track of any online payments and direct debit payments you may make for utility payments or other types of expenses. When you receive your statements every month, always keep a balance and review them with your register. This will help you to know which checks are still there or which have not been cleared.

If you make a mistake, you should immediately deposit the appropriate amount into your account to try to avoid additional fees. In addition, you can help with these charges if you have a savings account linked directly to your checking account to help cover such incidents. 

You can apply for credit with your bank to set the overdraft limit; This allows the bank to give you the loan you would need for a bounced check or overdraft.

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Saturday, February 5, 2022

10 Reasons Why You Should Not Start Businesses With Friends

 Every business has its own story to tell.

Behind every good start-up idea comes brainstorming with your friends or relatives. To ensure the viability of your business plan,

You often discuss it with your friends and change it according to their reactions. All these discussions lead you to partnership-based business

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Where your friends are willing to invest. Because you are new to the business and need their emotional and financial support, engage them. However,

There are many reasons why you should not start a business with close friends.

1. Problems defining role and authority: In friendship no one is big, no one is small. You are all on the same level but it's not the same. In business, you have to play that role well. The rights you get depend on your role, which may not be the same as yours

Other friends of the same organization. The difference in these levels can create bitterness in your current relationship and automatically worsen your situation of a business decision.

2. Good friends may not always be good business partners: As a business partner, it is easy and attractive to trust a friend because you know everyone.

But the reality is that when it comes to the same business, no matter how compatible you are with others inside and out in terms of attitudes, beliefs, and values.

Then comes a situation that leads you to the opposite point of view. There can be many conflicting conditions related to development. Create an effective business model or company vision and goals.

3. Lack of Premature Planning: Your friends and you often share this wonderful relationship that won't really be effective in business. You must be Active in emergency disaster management. You need to consider a backup plan for the worst-case scenario.

4. Problems in setting business goals: There is always a struggle to set long-term and short-term goals. you will be forced to concentrate

Long-term goals When your friend wants to prioritize short-term goals. Disagreements will be great when setting these goals.

Can be fatal and have a negative impact on the growth of your business in the long run.

5. A business collapse can sabotage your friendship: Not all startups make it big; most of them only live 1 or 2 years. and when it breaks It happens that not only does your money go down, but it also puts a strain on your relationships with your friends and business associates. Thus the total cost has a great impact on the other participants.

7. You both fight for quality time together: You cannot do this as both of you are involved in business and hold an important position in the enterprise. Often it's time to plan a vacation or go out together. You have to rest at the same time even if you're not going out together

Which is not good for business. Plus your absence can be dangerous for your business.

8. Lack of Required Skills: Every business venture requires specific field-related skills that cannot be brought into your business when the spouse is your friend. This is a good thing to do, and it should end there.

9. Problems while evaluating performance: You can be honest with your friend but it is difficult to be a clear observer of the evaluation of your friend and partner.

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To. Being honest and talking about areas of improvement can strain your relationship and lead to unsolved problems and a negative impact on your business.

10. Successful business but strained relationship: Who says that only unsuccessful business can create problems between partners. success is something

It can blow anyone's senses. Growing the business can lead to problems and conflicts between the owners and friends for the success of the business.

The goal is not to disappoint startups with friends, but to talk about future issues.

SOURCE: BUSINESS WORLD

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