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Payday Loan Personal - Financial Queries? Find What You Need


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Editors' Take

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Payday Loan Personal - Financial Queries? Find What You Need



What Is A Short-Term Health Insurance Plan?

A Short-Term Health Insurance Plan: What Is It?

A type of medical insurance policy that provides coverage for a little time is known as short-term online health insurance in India. Short-term health insurance typically covers you for up to 12 months. The top short-term health insurance policies provide transient protection for medical needs or crises. Additionally, because the premiums are lower, they may be more affordable than their long-term equivalents. Let’s examine the characteristics, advantages, and appropriate purchasers of short-term health insurance plans. ##

Important Elements Of A Short-Term Health Plan

You should be aware of the following short-term health insurance plan characteristics:

  • Short-term plans have a duration of 12 months or less.
  • Short-term policies require frequent renewals because the coverage will soon expire.
  • Due to their limited duration, these plans typically do not cover maternity, serious illness, or pre-existing conditions.
  • Given that they only cover a limited amount of time, short-term plans have more economical premiums than long-term ##
  • When your health insurance is renewed, you can switch to a different insurer for your short-term plan.

How Does Temporary Medical Insurance Operate?

Short-term online health insurance, as previously noted, is a sort of health insurance that protects the policyholder or insured for 12 months or less. Preventive treatment, urgent medical needs, emergency medical needs, doctor consultations, and other urgent medical requirements are all financially protected by this type of health insurance. Short-term health insurance coverage might be helpful if you need access to affordable health insurance plans or are temporary without health insurance.

Benefits And Drawbacks Of Purchasing A Short-Term Health Plan 

Here are the different health insurance benefits of a short term plan:

  • Short-term health insurance policies have fairly affordable premiums.
  • It protects against a variety of illnesses and medical disorders.
  • The ability to customise their plans is available to prospective policyholders.
  • Provides tax advantages for health insurance under Section 80D of the Income Tax Act of 1961. **
  • You can use the Cumulative Bonus when you renew your short-term health insurance. *

Here are the limitation of buying a short term plan:

  • Short-term health insurance typically does not qualify for the reductions available for long-term insurance.
  • Although long-term insurance premiums are less expensive overall than short-term insurance premiums, long-term insurance premiums are less expensive when monthly or quarterly payments are taken into account.
  • Some advanced coverage choices that are offered on long-term health plans are not available on short-term plans.
  • Your insurer may decline to renew your policy when your initial health plan expires if you wind up with a significant sickness or medical condition while the policy term of your short-term plan is still in effect.

When Is The Right Time To Invest In Short-Term Health Insurance?

  • If you only have access to your employer’s health insurance and you intend to change jobs.
  • If you are an NRI who spends several months in India.
  • You’re seeking a short-term health insurance plan that is reasonable.
  • Your health insurance plan has a void in it. 

* Standard T&C Apply

** Tax benefit is subject to change in prevalent tax laws

## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply 

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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What Are The Time Limits For Filing A Travel Insurance Claim?

There are instances where clients are unable to submit claims to the insurance company on time even after acquiring the appropriate travel insurance from India policy and having the necessary documentation. This can result in your travel insurance claim being denied or even delayed.

Time limits for filing a travel insurance claim

You must adhere to the deadlines specified by the travel insurance provider to register a claim in order to resolve your international travel insurance claims. It often fell between one and two months following your return date. However, the insurance will satisfy your claim concurrently if you provide all the necessary information, documentation, and details while you are travelling.

Below are a few examples of travel insurance claim scenarios and the actions you can take to submit a claim:

  • Accidental and medical emergencies

If you become ill owing to both an accident and the weather, you might need to use your online travel insurance. With travel insurance, you can receive the best care and be evacuated in an emergency back to your country.

  • A lost passport

You must file a police FIR and notify the travel insurance company of the loss.  It is advised that you always keep a copy of your passport on hand to prevent issues in this situation. Additionally, you’ll need to keep track of all the costs that are involved with getting a new passport and present the receipts when filing your travel claim once you’ve returned home.

  • Checked baggage delays

When travelling internationally, baggage loss and delays are typical. However, you must present the payment receipts for the essential products you bought due to delayed delivery of your checked baggage to receive prompt reimbursement for your name. Obtain a letter from the airline confirming the baggage loss and delay. To file for compensation from the insurance, you must also provide the tickets, a copy of your boarding pass, your passport, and a luggage delivery receipt to verify the travel dates.

  • Trip cancellation or reduction

There may be occasions when you must postpone or cancel your travel due to personal or medical emergencies. Any financial loss arising from trip cancellation or restriction may be claimed through international travel insurance.

Benefits of Additional Travel Insurance:

  1. Personal accident cover: With this benefit, you are covered for any unintentional physical injuries, including the tragic possibility of passing away from such injuries.
  1. Bonus child education coverage: The provider must provide additional compensation in the form of a lump-sum payment equal to 2% of the insured amount for each dependent child if a travel claim for passing away or permanent total disability has been approved.
  1. Coverage for permanent or total disability: If the insured person suffers from an accident that results in permanent damage to one or more limbs, visual loss in one or both eyes or any other disability.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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How to Proceed When You Really Need Money

Do you need some cash now, but your payday is weeks away? What to do to get out of this financial snag? We all know how a lack of funds can make us feel; overwhelmed and anxious. This is how you feel now if you are in such a situation. But worry not. There are ways to easily get quick money without being deceived by scammers.

As they say, money can’t buy happiness but can help buy other things we need daily. A lack of cash will certainly make things difficult. Fortunately, there are multiple ways to raise money quickly.

Why You May Desperately Need Money

From car repairs and home renovations to medical costs, numerous reasons can leave you in dire need of funds. Furthermore, large medical bills can leave you in urgent need of cash.

Apart from that, you may need fast cash if you encounter a natural disaster or are robbed of your belongings. Nevertheless, everyone’s financial situation is unique, and there can be many reasons why one may need extra funds at some point in time.

What to Do When You Need Money

Let’s check out some of the ways to help you proceed when you need money.

  1. Apply for a Personal Loan

Are you in dire need of funds? You can apply for a medical emergency loan to quickly get the needed cash. Nowadays, banks and lending institutions allow individuals to obtain secured and unsecured loans. But remember that your credit score will be assessed to determine if you can get the loan. The higher the credit score is, the better.

The best thing is that you can get an unsecured personal loan approved in hours, which means you get funds the same day. This can be a savior in case you want money urgently. For instance, you can apply for a personal loan at lendingplate and get approved instantly. So, this is one of the best ways to get yourself out of financial difficulty.

  1. Negotiate on Payments

If you need money fast and are already employed, then it’s time to discuss a pay raise with your boss. This is a thoughtful way of getting out of money troubles. However, it needs much consideration and a well-planned approach.

Timing is key when requesting a raise, and you’ll need to have an impressive case that clearly explains why your firm should pay you more. Do not show that you desperately require money, but rather emphasize the additional value you bring to the organization. If done right, asking for a salary raise could pay off with an extra amount you may be earning monthly. 

  1. Ask for an Advance

If you have a regular income, requesting a salary advance from your employer can be an excellent way to acquire some extra money. Essentially, it is borrowing from future wages. However, it may still provide a short-term solution for your financial emergencies. Asking for a salary advance won’t be a sensible option, but if you formulate a good budget plan, it can prove to be incredibly helpful.

  1. Earn Extra Income

The power of an additional income stream should not be overlooked. Although it is important to decrease your expenditure, generating extra revenue concurrently can greatly enhance your financial stability in the long term.

One best way to get extra income is to start a side hustle. Starting a side gig is helpful; you don’t have to quit your main work. You just have to figure out what services or products you can offer that people are willing to buy. Chances are high that with the right resources and ideas, there’s something out there perfect for you. Take sometime after work to do a side job and earn cash. This may help when you need some funds.

  1. Borrow Money from Relatives

In need of some funds? Asking your family for a loan may be the last thing on your list. Some may feel uncomfortable and too proud to ask for help from their family. But if you have no other option and are in a very bad financial situation, it could be a viable option.

Many of us hate to admit it, but we don’t always like the idea of turning to our family for financial help. We feel ashamed to ask for help from those very close to us. Many prefer to get help from their friends but not relatives. If lucky, you can get a relative who can lend you a helping hand in such a case.

How to Steer Clear of Being in a Desperate Financial Situation

We all can attest to this. Being in a financial pinch and requiring money urgently can be incredibly nerve-wracking. But this shouldn’t be the case if you are well prepared. An emergency strikes when unprepared. So, take time to prepare for the future.

You can set up an emergency fund for unexpected moments. Having ready cash in times of unforeseen situations beyond our control can be the determining factor between adding additional debts or comfortably getting through unexpected life curveballs.

An emergency fund is a dedicated savings account created to help you when in dire financial need. Whether it be medical bills, car repairs, or job loss, having this reserve can be the difference in how quickly and stress-free you recover from these financial setbacks. The amount of money you can save in this fund varies depending on an individual’s lifestyle choices and needs.


You don’t have to remain stuck in a financial bind. There are several ways you can use to escape that situation when you have no funds at the moment. You can get an emergency loan, ask for a salary advance, do a side hustle or even borrow from relatives and friends.

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Here’s how you can select the best mid-cap fund for yourself

When it comes to successful investments, choosing the right investment option is critical. Mutual funds offer a variety of choices within each category, making it essential to select the right mutual fund that best suits an investor’s goals and risk appetite. Different mutual fund options may suit different investors depending on their investment objectives, investment horizon, and risk tolerance. Therefore, choosing the right mutual fund becomes a crucial aspect of investment planning.

The same is true when it comes to investing in mid-cap funds, which invest primarily in mid-sized companies. Read on to find out more about mid-cap funds and see how you can select the ideal fund for your portfolio.

What are mid-cap funds?

Mid-cap funds are mutual funds that invest in companies with a market capitalization above Rs 5,000 crore but less than Rs 20,000 crore. These companies are mid-sized and have the potential for growth, which could translate into good returns for investors. Mid-cap funds are considered riskier than large-cap funds but less risky than small-cap funds. They are suitable for investors who are looking for a balance between high returns and moderate risk.

Advantages of investing in mid-cap funds

Potential for high returns: Mid-cap companies are established businesses with growth potential. Investing in mid-cap funds can provide investors with the opportunity to earn higher returns than large-cap funds.

Diversification: Mid-cap funds invest in companies that are neither too small nor too large, this offers investors a level of diversification between large and small-cap funds.

Lower risk than small caps: Mid-cap companies are more established than small-cap companies, which means they may be less risky. This can make mid-cap funds a good choice for investors who want to invest in equities but with a lower risk profile.

Stronger balance sheets: Mid-cap companies tend to have stronger balance sheets than small-cap companies, which means they are better equipped to weather economic downturns.

Steps to choose the right mid-cap fund

Risk appetite

Mid-cap funds are riskier than large-cap funds, but safer than small-cap funds. Determine your risk tolerance and select a mid-cap fund accordingly.

Performance of the fund

Look for a fund with a consistent track record of outperforming its benchmark index over the long run. Compare the historical returns of the fund to those of its competitors.

Fund manager

Fund managers with experience can aid investors in navigating market volatility and making informed investment decisions. Research the experience and track record of the fund manager.

Expense ratio

Mid-cap funds can have higher expenses than large-cap funds due to the increased costs associated with researching and tracking smaller companies. Look for a fund with reasonable expenses that do not significantly reduce your returns.

Fund’s make-up

Examine the holdings of the fund to ensure it aligns with your investment objectives and diversification strategy. Verify that the fund is not overly invested in a specific industry or company.


Choosing the right mutual fund is a crucial aspect of investment planning, and this is particularly true for mid-cap funds, which can offer a balance between high returns and moderate risk. By understanding the advantages of investing in mid-cap funds and following the steps outlined above, investors can select a fund that aligns with their risk appetite, investment objectives, and diversification strategy.

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