HOME         WEBSITE         SUBSCRIBE           E-GREETINGS   
                               

Wednesday, May 13, 2015

Are you prepared to handle a Financial Catastrophe caused by Natural Calamities

Dear Investor,
Recently a 7.8 magnitude & yesterday 7.3 magnitude earthquake hit the country of Nepal along with some parts of our country India too which caused catastrophic damages to life and property. And in 2014 massive flash floods came in Uttarakhand which akso caused havoc and many more tragedies have occurred for human race. 

This predicament could not have been anticipated by anyone, as is the case with any natural calamity. They cannot be predicted and the potential devastation is unimaginable. From tsunamis to earthquakes all of us are vulnerable to the forces of nature. So is there anywhere we can hide, or something we can do to prevent such cataclysms? Unfortunately there is nothing that can be done to prevent them. But we can certainly mitigate the impact of them on our personal finance. One way to hedge the risk of natural disasters is by purchasing adequate insurance.

 
The Crux of Benefits.

  • Fire and Special Perils: Protects home structure as well as contents against fires, earthquakes, floods, lightning, thunderstorms, storms, inundation, cyclones, etc. It also protects against man-made threats like terrorism, riots and strikes
  • Rent for alternative accommodation: Covers additional rent in case the house is severely damaged and rendered uninhabitable under Fire and allied perils. This has a maximum limit of Rs.30, 000 for 3 months.
  • Burglary & Theft: Covers Loss or damage to your household contents in the event of Burglary / Theft or Attempted Burglary / Theft. Coverage option is available on 1st loss basis.
  • Public Liability: Protects your guests or any third party against any damage caused to them or their property in the insured’s home.
  • Baggage Loss: This cover protects Accidental loss/damage/theft anywhere in India of accompanied personal baggage whilst on travel outside municipal limits of city.
  • Audio & Audio Visual Appliances: This is a Comprehensive cover against loss/ damage to your Audio/AV appliances at home due to fire and allied perils, Burglary/theft, Accidental external means, Mechanical and electrical breakdown, legal liability.
  • Breakdown of Domestic Appliances: This cover protects against Mechanical &/or Electrical Breakdown to other domestic appliances at your home.
  • Personal Accident:This is a Family cover for compensation in case of death or disablement of the insured person due to accidental bodily injury anywhere in world.
  • Purchase Protection: This covers New Items purchased under Benefits: Fire & Burglary / Theft up to 30 days from the date of purchase.
*In Burglary at First loss, the condition of average is not applied. Therefore it allows you to cover your contents adequately at a reduced premium.

And we strongly recommend to you to consider purchasing Home Insurance in your best interest.

Revert back to this mail to get best possible quotation.

In this article we at Master Mind Financial Advisory explain 3 points one should consider for averting a financial catastrophe by purchasing insurance:
  • Home insurance as a means of mitigating property risk: Home insurance would cover your house property against anything from fire to natural disasters and would provide a hedge against adverse occurrences. But while you opt for one, ensure that you read the devil in the fine print; as some insurers do not include "Act of God" such as earthquake, storm, tempest, flood, inundation and special perils at the outset.
    You need to buy an add-on cover at an extra premium (which may be 20-30% more or if the building is located in an earthquake prone area, even more). The insurance for such add-on coverage is for the contents in the building and the structure. The cover for the structure will pay for the construction cost of the building. In case the building cannot be reconstructed, it will pay for the depreciated value of the building after taking into account the remaining life of the building. It is vital to note that the insurer will not pay you the current market value. Nonetheless, you should always read the reinstatement clause of the policy well. This is because the market cost also includes the value of the land and that is not covered by insurance. If you are living in an apartment, then ideally your housing society should take an insurance to protect the structure against such natural calamities. This will pay for any damages to the structure.
     
  • Insurance for business: In case you are in business, here too having an appropriate insurance policy which has inclusion for "Act of God" and special perils in the coverage would be vital to take, rather than repenting later and saying Oh My God.
     
  • Life insurance is an added benefit: Life insurance protects family members financially in the case of unexpected death of the breadwinner of the family. And when you are covering risk to life, term insurance is the ideal. But while you depend on your life insurance, again please look for exclusions rather getting a shocker later.
We are of the view that devastation in Nepal and elsewhere is an eye-opener for all. Having a home insurance cover and even insuring your commercial property can indemnify you from an unfortunate event. 

Nevertheless, while you opt for an insurance cover, ensure that it is optimal and comprehensive. With adequate insurance cover comes peace of mind; because in case adverse circumstances arise, there will still be hope.

If you have any queries on financial planning or investment planning or insurance planning or tax planning etc. you can feel free to write us on vaid.varun@yahoo.co.in & we will be happy to guide you through our endeavors in the ensuing you until then, HAPPY PLANNING!
____________________________________________
___________________________________________

"Have insurance for the purpose of insurance not for returns & for the advantages of the same for better upkeep of lifestyle." - Varun Vaid
_______________________________________________________________________________________

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article may have been outsourced from available information and has not been authenticated by any statutory authority. The author do not claim it to be accurate nor accept any responsibility for the same. Please read the detailed disclaimer on the website of our's www.vaidvarun.blogspot.in
_______________________________________________________________________________________

Do share your prestigious thoughts with us, keep referring us like always to your nears & dears.

Do keep forwarding these insights, as it is the sole best way to impart your link-ups financial well being importance.
____________________________________________
___________________________________________

Warm Regards,

Varun Vaid

+91-9814612907
+91-0172-4623907

Twitter: @vaid_varun

LinkedIn: http://in.linkedin.com/pub/varun-vaid/15/9b3/277

Website: www.vaidvarun.blogspot.in

@FB: www.facebook.com/MasterMindFinancialAdvisory
Posted by

Blog Archive

____________________________________________________________________________________________

Disclaimer - All investments in Mutual Funds and securities are subject to market risks and uncertainty of dividend distributions and the NAV of schemes may go up or down depending upon factors and forces affecting securities markets generally. The past performance of the schemes is not necessarily indicative of the future performance and may not necessarily provide a basis for comparison with other investments. Investors are advised to go through the respective offer documents before making any investment decisions. Prospective client(s) are advised to go through all comparable products in offer before taking any investment decisions. Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the fund will be achieved. Information gathered & material used in this document is believed to be from reliable sources. Decisions based on the information provided on this newsletter/document are for your own account and risk.


In the preparation of the material contained in this document, Varun Vaid has used information that is publicly available, including information developed in-house. Some of the material used in the document may have been obtained from members/persons other than the Varun Vaid and which may have been made available to Varun Vaid. Information gathered & material used in this document is believed to be from reliable sources. Varun Vaid however does not warrant the accuracy, reasonableness and/or completeness of any information. For data reference to any third party in this material no such party will assume any liability for the same. Varun Vaid does not in any way through this material solicit any offer for purchase, sale or any financial transaction/commodities/products of any financial instrument dealt in this material. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice.


Varun Vaid, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. All recipients of this material should before dealing and/or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. Any person subscribing to or investigating in any product/financial instruments should do soon the basis of and after verifying the terms attached to such product/financial instrument. Financial products and instruments are subject to market risks and yields may fluctuate depending on various factors affecting capital/debt markets. Please note that past performance of the financial products and instruments does not necessarily indicate the future prospects and performance there of. Such past performance may or may not be sustained in future. Varun Vaid, including persons involved in the preparation or issuance of this material may; (a) from time to time, have long or short positions in, and buy or sell the securities mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation in the financial instruments/products/commodities discussed here in or act as advisor or lender / borrower in respect of such securities/financial instruments/products/commodities or have other potential conflict of interest with respect to any recommendation and related information and opinions. The said person may have acted upon and/or in a manner contradictory with the information contained here. No part of this material may be duplicated in whole or in part in any form and or redistributed without the prior written consent of Varun Vaid. This material is strictly confidential to the recipient and should not be reproduced or disseminated to anyone else.


Varun Vaid also does not take any responsibility for the contents of the advertisements published. Readers are advised to verify the contents on their own before acting there upon.


Published Credits goes to following sources & all the mentioned sources as footer below the published material- Bloomberg, Valueresearch Online, Capital Market, Navindia, Franklin Templeton, Kitco, SBI AMC, LIC AMC, JM Financial AMC, HDFC AMC, The Hindu, Business Line, Personal FN, Economic Times, Reuters, Outlook Money, Business Standard, Times of India etc.