5 Moments in Debt Coping When Refinance is a Good Choice

It’s not easy coping with debt. It’s what everyone that borrowed money from a financial institution at least once knows. What you want to do is be free from debt, but this is not possible in most cases, and if it is, you need to work smart to do it.

Loans are made for lending institutions to make profits out of their clients’ need for money. Of course, at the same time, they help with clients’ needs for life investments. There are all kinds of investments and needs for loans.

From business loans to money needed for buying a house or a car. In some cases, people borrow money for going on a vacation or moving from one place to another. These things are expensive and you have no choice in some cases. See what people usually need money for and ask for a loan here.

If you already own a loan, and you want better terms because of any reason, you’re thinking about refinancing your debt. This is a common practice and lots of borrowers are doing it. However, not every situation requires something like this.

To know when this might be a good reason, you need to know the five most common situations in which refinancing your loan is a smart idea. Follow up and see what these moments are, and if you find yourself in some of these situations, be sure to ask your lender for a refinance.

1. You have no money for the monthly rates

There are destinies in the world as many as there are people. Some might have lost their job, and others had to accept another that had lower payment than the previous one. In this case, the family budget becomes lower and it becomes harder to pay the monthly rates.

It happens to everyone at some point in life. You accept a loan that you’re supposed to repay for years, and sometimes even decades, so it’s normal for life to have its ups and downs. When the downs come, you need all the help you can get.

Refinancing your debt is the help you’ll get directly from your lender. They might be open to creating another loan that will suit your new needs. It’s smart to be open with them and tell them about the situation. It’s in both parties’ interest to find a mutual solution.

The banks hate to deal with lost mortgages, and they’ll do anything to see their clients reprogram the loan to be able to pay it back monthly. That means, whenever you find yourself in a situation to not be able to repay, go to the same or another lender to ask for better terms.

2. You make a lot and you can pay off earlier

There’s always the life’s up when you’re doing great and you have the opportunity to pay off the debt earlier. You might get a promotion or transfer to another job where you make more money. This is a situation when you want to invest in your debt freedom.

As mentioned earlier, go to the lender and explain to them what the situation is now and how it is changed. Tell them that you’re eligible to end the loan faster. They’ll happily accept the news because if you manage to pay out the loan faster, you’ll be eligible to get a new one.

It is in their best interest to refinance the loan and make new terms. They’ll probably make a higher monthly rate, and you’ll spend more every month, but instead of paying 10 years, for example, you’ll pay only seven years.

This way, you’ll be free to think about your next move when the loan is completely repaid. You might want to live debt-free, or you might want to invest again. This is what the lender will surely suggest, but it’s up to you to decide what you’re going to do with your money and time.

3. There’s a better interest rate elsewhere

You’re not married to your loan provider. You can always go to another place and ask them to refinance your old debt. That’s what you should do once in a while when you find better terms.

What you need to do is occasionally check the offers coming from other lenders and see what they have to offer. Go to them and talk to an employee there. Tell them about your situation and see what they have to offer.

They might not have anything valuable for you, but some of them might have loans with interest rates that are way lower than what you’re paying right now. If the terms are better then why not accept a loan that is better than the previous one.

The interest rate is the most valuable feature of every loan. When someone offers a deal, the first thing you need to check is the interest rate. If the entire plan shows that you’re going to pay less than the previous one, and all the other terms are acceptable, then don’t hesitate to accept the one.

4. You have more loans and you want them all under one umbrella

When you have more loans, it’s hard to cope with all of them. You need to pay attention to every detail, amount change, and missing a deadline for one of them means instantly getting a poor credit score. You don’t want this to happen because it’s hard to get that credit score back in shape again.

One of the worst things that will destroy your credit score is having a ton of loans. When you need another one urgently, the lender will see you as unable to pay them back, so they’ll reject your application.

Imagine you get sick and you need money for the surgery, but you have a loan for a boat and a wooden cabin in the mountains. You might even lose your life over something like this. That’s why you should always prioritize refinancing and get your debt in order.

5. You need another loan and you want to upgrade the existing one

Everything might be going great for you and you don’t need to change anything financially with your loan. You’re able to pay in time, the loan is designed just the way you want it, and there’s no need for any changes. But, you want to redecorate at home.

That’s when you need to look for the best refinancing out there. You need to check for options because not all of them are the same out there. Sometimes you will need a thoroughly worked plan, but no matter what you choose, make sure you choose an affordable loan.

To find one, you should go to where loans are tailored based on your needs. Spend some time researching and find other options too. It’s essential to get a loan that you can take, yet get the job done.

If you need redecorating and renovating at home, then you need a loan that will be added to your already existing one. The lender should adjust your needs and provide the money. You’ll get the funds to do the job, and your existing loans will not change dramatically. That’s the ideal option.


When you find yourself in one of these five situations, then you can be sure that you need a refinancing plan. If you do, then you must spend some time researching the market. You should find an affordable refinancing plan that will suit your interests perfectly.

When you’re done researching, talk to the lender about the potential loan. Tell them your needs and opportunities and see what they have to offer. It may be too easy to get the job done, but if it’s not keep searching until you find the best.


5 of the Biggest Civil Judgments of All Time

Do you remember the 1994 McDonald’s lawsuit involving a cup of coffee? The lawsuit gained notoriety around the world as an example of excessive civil litigation. Even though a court awarded the plaintiff $2.86 million, she ultimately received $640,000. Meanwhile, the case became the flash point of a debate over tort reform, a debate that still rages today.

The tort reform debate continues because courts are known to award some pretty impressive amounts that often seem excessive. How excessive? Just check out the awards described below. They represent some of the biggest of all time.

1. 1998 Tobacco Settlement

Back in the 90s, 46 states, the District of Columbia, and five U.S. territories got together and sued the tobacco industry on grounds that cigarette manufacturers were willingly making an addictive product despite knowing its deadly nature. They won.

When the dust settled, the world’s four largest tobacco companies were forced to pay some $10 billion annually to ostensibly cover the costs states and territories would incur treating cancer patients. Twenty-three years later, those payments are still being made. Tobacco companies have already paid hundreds of billions.

2. 2014 Bank of America Settlement

The 2008 housing crash led to a slew of civil lawsuits against banking institutions. One such institution was Bank of America, which was accused of selling risky mortgage derivatives. The lawsuit contended that such derivatives were partly responsible for the crash. Bank of America eventually settled with Fannie Mae and Freddie Mac, admitting culpability and agreeing to a $9.3 billion judgment.

Unfortunately, the settlement wasn’t the end of Bank of America’s troubles. A subsequent lawsuit settled a few months later added an additional $16.6 billion to the bank’s bill.

3. 2010 BP Oil Spill

You might remember the BP oil spill that took place in the Gulf of Mexico in 2010. The tragic event killed eleven people and did considerable environmental damage that took the Gulf Coast years to recover from. Obviously, BP was sued by multiple parties. They eventually settled with Louisiana and four other states in agreeing to pay $18.7 billion. That settlement ostensibly ended all of the civil lawsuits pertaining to the spill.

4. 2013 Murdoch Divorce Settlement

Not all sizable judgments are the result of lawsuits against big corporations. Sometimes, even personal matters can result in significant judgments. One such case is the 2013 divorce settlement between the late Rupert Murdoch and his second wife, Anna. After more than three decades of marriage, the two split. Anna was awarded $1.7 billion.

The Murdoch case represents one that would have gone to a judgment collection agency had Murdoch refused to pay up. Salt Lake City Utah’s Judgment Collectors says that these types of cases going to collection are rare, but it happens from time to time.

5. 2009 Pfizer Settlement

Judgment Collectors also says that sometimes settlements are the result of a combination of civil and criminal actions. One such case is the 2009 Pfizer settlement regarding a number of prescription drugs, primarily a painkiller known as Bextra. That case revolved around allegations that Pfizer broke the law in marketing the drugs in question.

Settling for $2.3 billion in penalties allowed Pfizer to put the case behind them without facing any additional criminal charges. Critics argued that the penalty wasn’t high enough, given that Pfizer revenues could cover it in a matter of weeks.

Current tort law allows for incredibly sizable judgments when circumstances warrant. Very few judgments are worth tens of billions, but winning millions isn’t a bad option. No wonder tort attorneys don’t want anything to change.


What are the uses of an online business directory?

The directory is the list of businesses categorised in a niche for the customers to easily reach for your product and services. The directly helps in categorizing the business based on location, size, and activities.

A business directory works similar to Yellow pages and is especially useful for identifying the local businesses precisely. With the development of technology, online directories are useful with native search functionality. The directories allow the better search of business using locations such as Zip Code, state, or local area.

The business directories have a list of all types of business under a business type, activity, and services offered. The key information mentioned in the online business directory is:

  • Business name,
  • Addresses,
  • Telephone numbers,
  • Location,
  • Contact Information,
  • Type of service or products the business provides
  • Number of employees,
  • Locality
  • Website
  • Professional associations
  • Social media links
  • Customer reviews
  • And more!

Online directories help with better exposure to your business and branding. Every business should consider having a listing in the online directories to show up the business details, including name, contact details, website information and customer reviews to attract more customers toward their business.More information related to business can also be updated in the online business directory. Brand visibility is extremely important in the competitive world.

Directives in internet media are beneficial especially for marketing. Various companies and businessmen now try to figure out various methods of marketing their products and services to invite the audience to use their products and services. And the options for marketing online are numerous.

Online directories will also provide the filtering option for the customers to narrow down their selection based on the requirement to reach the right service provider.  And this helps the businessmen to connect with their target audience even more comfortably, by ensuring they select the right option while updating the business profile details in the directories.

Another benefit of adding the business profile on the online directory is to improve the business reputation. The online directory also offers the option for rating by the customers. Rating is a way to tell the audience using the directory that s yours is a reliable business. A higher rating on the directory helps the business in attracting more potential customers towards them.

Boosting search engine optimization is the added benefit of listing in the online directory. Your business will be easier to locate when the customers use a search engine such as Google to find you online.

A well-updated business profile in the online directory will increase the ranking in the search engine result page of Google.

All of the benefits of listing your business, product or services in the online directory can be availed at the most cost affordable price. Hence, an online directory is a cost-effective method of branding your website. Most of the business directory offers free listing, and some even provide the most cost-efficient premium listing options. The business directory also helps you to update your information when needed.

When the directory helps in attracting more customers to use your product and services, you are sure to get the best return on investment.


5 Tips to Know When You’re Looking for Manufacturing Recruiting Firms

In today’s way of work and business, it’s really hard to find manufacturing workers. Engineers are highly paid by they are hard to find; especially good ones. That’s why most companies who need these types of employees, ask for professional recruitment companies to do the job for them.

However, even good recruitment companies are not easy to spot. Some of them can deliver outstanding results, but others won’t provide anything good for you. When it comes to manufacturing recruitment, you can say that it is extremely hard to know which ones to hire. Learn more about the manufacturing business here.

That’s why in this article, we’re going to tell you 5 crucial tips that you must have in mind when you’re searching for the right recruiters out there. Follow up and see what these tips are and be sure that they’ll help you locate the perfect company for your needs.

1. Look for a firm from a nearby area

If you’re doing business in California, you can’t take a recruiting firm located in Boston that operates on the East Coast. You need someone local. That doesn’t mean to look only within your neighborhood and a few blocks away, but still keep it closer, so you can be sure that the results are going to match your needs.

Of course, if there are no matches nearby, you’ll have to go with the other option, but until then, make sure you’re hiring a local firm that will help you find the best person for the job living in your area. This person will be available right away, and they’ll have way fewer expenses to get to your office, unlike this other person that will need to move entirely from one coast to another.

2. Check out their reputation

Probably the most important thing, when you’re looking for manufacturing recruiting firms, is their reputation. Just like anyone else in the business world, not all companies enjoy the same reputation. You want only the best ones for your needs.

To find out who the best is, you need to go to the internet and search for their names. See what people who managed to work with them think about their work. That means checking what people who were looking for employees, and the employees themselves think about a particular recruitment firm.

You don’t want to hire a person who had to go through hell to get the job. This person is not going to be happy at your place from day one, and that won’t even be your fault. At the same time, you’ll have to pay for the recruitment agency for providing the talent you’ve been looking for.

3. Make sure they are specialized in your field

Some companies out there present themselves as simply recruitment firms. They claim to find whatever you need. It’s worth knowing that every single one of them is specialized in one area more than another. They all have connections in the business world, but some of them have more connections in the healthcare business, others in leisure, and some in manufacturing.

You want the last ones as this is the business you’re running and looking for employees in it. Do some research to find out who is perfect in the area you need. It’s best to ask for friends and colleagues, and even experienced employees that already had the chance to find a new job this way.

4. Ask if they can promise a delivery in time

When you need to fill in a position, every day without a worker is losing money for your company. That’s why you need this person as fast as possible. Ask the recruiters about how long will it take for them to find the right person.

If they can’t tell you a precise time, it means that this can go on for months. Some recruitment firms go through rigorous testing procedures to find the right candidate, which takes too much time. They do this because the retention rate of their hires affects their reputation.

5. What’s their quitting policy?

Some companies will give you a chance to get another prospect if the old person quits their job before a fixed period. People quit for many reasons, and only the businesses lose from this. That’s why recruiters often offer to replace this person for free. If this is an option, then consider it a big plus. Even if the new employee quits, you’ll get a replacement fast. See why people quit here:

The retention rate is a highly important feature for everyone. Businesses that thrive always have employees that are loyal and work there for years. On the other hand, replacing a worker is expensive, and no business wants to hire and sack people all the time.


5 Things an Agent May Not Tell You About Term Insurance

Advertisements coaxing you into buying term insurance plans are often way too convincing. What they fail to mention is that a standard term plan is a lot more complex to read, analyze, and even implement.

Essentially an insurance policy that covers the members of the kin after your demise, the term plan is hardly laden with investment-specific benefits. Unlike a life insurance policy that appreciates with age, a term plan is beneficial only if it is settled after the insured has departed.

Although the benefits to the family are immense, there are a few things that you would need to understand before opting for a term life insurance plan as agents hardly talk about these, when it comes to recommending plans.

Factors to Take Note of: Underrated yet Undeniably Important

Even if your agent proffers half-baked information regarding a term plan, you must try and factor in these aspects before proceeding:

  • Claim Settlement Ratio

Perhaps the most essential aspect of a term insurance plan, the CSR often signifies the credibility and genuineness of the insurer. As you should know that the insurer doesn’t simply entertain claims once the insured has departed for the heavenly abode. Most insurance service providers run detailed investigations into the death while some have guidelines and norms regarding the nature of bereavements that are covered.

It is the prerogative of your agent to bring you insurers with the higher CSR value, which signifies the number of claims honored against the ones filed. If the agent doesn’t let you know, you can always check for the same at the IRDAI portal.

Therefore, instead of relying extensively on a term plan calculator to ascertain the premium rates and the sum guaranteed to the family, it is equally important to check the CSR before proceeding.

You certainly wouldn’t want your family’s claim and expectations to be rejected citing an unnatural cause of death, accidental death, death outside the country, and any other excluded factor.

  • Role of Riders

Probably an extension to the first point, your term insurance agent must help you full-proof the entire policy spread by recommending valid riders. You should know that a standard term plan only covers the elementary aspects and you must add in permanent disability, accidental death, critical illness, and other riders to ensure that claim settlement is processed swimmingly after your demise.

While the inclusion of riders adds to the premium value, you can always determine the same beforehand by using a term plan calculator.

  • Comparative Benefits

Unlike any other product, even term plans need to be compared. The agent, therefore, should offer insights relevant to the features, death benefits, rider costs, sum assured, overall cost structure, CSR, and other pointers, for some of the more sought-after insurers. The comparative approach would then help you make better and informed decisions.

  • Exclusions

Regardless of how well you choose, every term insurance plan misses out on certain attributes, which then falls in the category of exclusions. Your agent must explicitly let you know about the omissions, which often include coverage for suicidal deaths, accidental disability, or more.

But then, if the CSR still looks lucrative enough, you should work around these exclusions with relevant, supplementary riders.

  • Waiting Time Frame

Like most policies, even term plans have specific waiting periods before a particular claim is honored. Smaller waiting periods attract higher premiums and your agent should let you know about each aspect before proceeding.

For instance, if you, as an army staff, plan to get a term policy, it is advisable that the agent lets you into the timeframe that the insurer puts forth before the claim can get honored. Long waiting periods aren’t going to be useful in this context, even if they attract lower premiums.


A term plan is arguably the safest financial net that you can get for the family. But then, finding the right one can be a bit irksome as agents often leave out 5 of the most important aspects of the same, as covered in the aforementioned sections.

Therefore, to avoid discrepancies, the opaqueness of approach, and even unnecessary misunderstandings during claim settlement, it is advisable to get the policy from Finserv MARKETS. This would eventually help you choose better and sleep well knowing that the claims are most likely to get settled, every single time.


Embedded Finance: Everything You Need To Know

The emergence of embedded finance is reshaping the financial services industry. By incorporation of banking products to any company’s products and services, the financial services industry ceases to exist independently, and finance suddenly becomes omnipresent.

For non-bank merchants, embedded finance is the best way to establish more personal connections with their customers, generate new revenue streams, and create a completely new way to interact with money. By embedding finance into financial services, brands can reimagine how they relate to their customers and acquire new customers.

What Is Embedded Finance?

Banks historically dominated financial services including payments and lending. As highly regulated entities, banks have for the longest time built custom tech stacks. These two realities made it digitally impossible for banking services to leave the confines of the bank itself.

As a result of the Open Banking movement and supporting legislation, such as PSD2, these barriers have been effectively dissolved. As a result, banks, fintech, and other regulated entities are now able to connect non-finance companies to their platforms using APIs.

Why Should You Be Paying Attention To Embedded Finance?

Financial services and the economy, in general, should experience unprecedented growth through embedded finance in the coming years. The integration of financial services allows banks and companies deploying them to learn valuable information about their users, allowing them to provide more targeted lending and insurance services.

Data collected in this manner will enhance the efficiency of this process. Consequently, we may see a change in how merchants engage with customers. For instance, they may offer personalized banking (such as discounts) and more accurate loans in the future.

How Can Implementing Embedded Finance Benefit Companies?

Payments are more easily controlled

A major advantage of being a financial services company is being able to manage the payment process for clients. Ultimately, customers will no longer be redirected to third-party sites, but will be able to complete the entire process under one “digital roof”. The benefit of this is not only that it translates into a better payment experience, but it also allows companies to better understand how their customers pay.

Added value to customers

With embedded finance, companies can completely reimagine their relationships with customers. In addition to offering Alternative Payment Methods (APM), merchants can also offer localized payment options that might be appealing to their target audience.

Lower costs

Merchants can also benefit from embedding the payment process by eliminating expensive payment providers such as card networks, which results in a lower cost of payment processing.

To Conclude

Convenience reaches a whole new level with embedded finance. Almost no payment is made, so the concept of payment falls away. Customers no longer have to take out their debit cards and go to a separate screen to enter their payment information, now they just need to click the “Buy Now” button to purchase the item. The process saves them time, energy, and builds trust with the merchant. In the future, Open Banking and PSD2 will make this the norm rather than the exception.


5 Top Mistakes that Can Pull Down Your Credit Score

A credit score is a 3-digit number that is estimated by credit bureaus using your credit history. The score can range from 300 to 900. When you wish to take a loan, lenders will check your credit score to know whether you can repay it. Lenders prefer a score nearer to 900 (like 750 or more). As it rises, you can get more approvals for new borrowings at higher limits.

Here are the 5 main mistakes to avoid to maintain a good credit score.

#1 – Credit Card Inactivity

What’s the point of having a credit card and not using it? This can pull down your credit score.

What to do:

  • Compare the features and benefits of different types of credit cards.
  • Apply for one that best suits your needs.
  • Keep using your card to maintain good credit use, credit behaviour and loan repayment history. This can boost your credit score.
  • Using your card continuously can also prevent your account from being closed, which would affect your credit score.

#2 – Late Payments

Your credit score can fall if you don’t pay your credit card dues or loan EMIs on time. One or two delayed payments may not harm the score but repeating this over a long period will have an impact.

What to do:

  • Pay your loan EMIs and outstanding card bills on time.
  • You may choose automated bill payments. To do this, you can provide standing instructions to the bank to debit your savings account before or on your payment due date.

#3 – Settling and Not Closing Outstanding Dues

Settling means partially paying your total outstanding dues. This includes principal and a part of the interest charged by the lender. Just paying this minimum amount is not good enough.

What to do:

  • Check your card documents to know the due date to pay the minimum amount and the due date for the outstanding payment.
  • Repay the outstanding dues in time. This will also prevent any late fee charges.
  • You may consider taking a soft loan from your employer or borrowing from your family or friends to pay off all debts in full on time.

#4 – Accumulation of Unpaid Debts

Before taking a loan, do consider how you will pay the monthly instalments. If you simultaneously have home loan, auto loan, personal loan and credit card dues, you may not be able to repay all of them in time and your credit score can be impacted.

What to do:

  • When you have taken a loan, avoid taking another one before repaying the previous one.
  • Be aware of your monthly income and expenses to know whether you can make EMI payments against loans and pay off your dues on your credit card.
  • Convert your credit card dues to EMIs, so you can easily repay in time.

#5 – Not Checking Documents Carefully

Errors in your loan document or card statements can lead to confusion and delayed payments. This will impact your credit score.

What to do:

  • Check your credit card bills carefully.
  • Get any errors rectified as soon as possible.

A high credit score can get you credit cards at the lowest interest rates. With lower charges, you can clear outstanding dues even faster, which can further improve your credit score.


Considerations to Remember When Buying a Commercial Insurance Policy

Multiple factors at once impact the success or failure of any business. For that, entrepreneurs need to consider all these elements that may have an impact. This includes designing a business plan, procuring necessary financial support, implementation of that business strategy and lastly having a backup plan if things go down south. This backup plan is by way of an insurance policy to cover the various business risks. At first, identifying which types of risks your business faces is crucial and accordingly you can select a commercial insurance policy for it. This article mentions a few tips that can help you select a suitable coverage to safeguard your business. Let’s have a look –

#1 Understand your legal obligations

A commercial insurance is not mandatory for all. Albeit, the prevailing government regulations make it essential for an establishment to purchase a commercial insurance policy. For instance, organisations for whom the Workmen Compensation Act is applicable deem it necessary to have the backing of an Employee Benefit Insurance plan. Thus, the business owners need to be aware of the potential risks in their business and accordingly purchase a commercial insurance policy.

#2 Familiarise with the industry risks

No industry is the same as others. Hence, it is crucial to identify the risks associated to the business. The type of risks not only change between different industries, but also for different geographic locations. For instance, a professional providing advisory services can be sued for errors or mistakes whereas a food chain can be liable for any health concerns to its customers. For this reason, it is important to identify the risk based on the industry you operate. This way you can smartly select the right commercial general liability insurance.

#3 Determining the coverage for your insurance policy

Once you identify the risks involved for your business, the next step is to select an appropriate commercial insurance policy. Since budgets are allocated for all business components, selecting a policy within your budget is crucial. A cheaper insurance cover might be tempting considering your finances but might lack adequacy for the business. Whether you are looking for a marine insurance policy for your good, or a liability insurance cover to protect your business interest, make sure to choose enough coverage. Based on the damages, these amounts are determined and thus, a smart selection is essential.

#4 Select a reputed insurance company

Going with a reputed insurer benefits by ensuring timely settlement of claim along with coverage for multiple business risks. Moreover, reputed general insurance companies have a positive feedback among its customers and choosing one becomes a hassle-free experience.

#5 Understanding the policy terms thoroughly

There are myriad insurance policies that are available. These plans have different features and cater to different scale of operations. As a business owner, you must carefully understand what forms part of inclusion or exclusion and whether it can help to mitigate the various risk that surround your business. This will ensure there are no gaps in the policy coverage and if any, can be planned in advance.

These are some considerations to remember when buying a commercial insurance plan. Make sure to check the above steps chronologically to avail the best coverage for your business.  Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.


These Are the Points to Remember When Transferring Your Car Insurance NCB Benefits

People at large are aware of the need to have an insurance policy when buying a car. The legal requirement laid down by the Motor Vehicles Act of 1988 has made it essential to have one. But apart from this legality, there are quite a few benefits of a car insurance policy. Protection of damages to the vehicle, coverage for third-party liabilities, personal accident coverage are some of the them. One can buy car insurance online making it easier for them to compare the right policy features.

An essential feature that often gets overlooked is the no-claim bonus. No-claim bonus or as popularly referred as NCB is a form of reward offered by insurance companies to its customers. The NCB benefit is in the form of concession at the time of car insurance renewal thereby further lowering the premium. It isn’t always a claim is made for repairs or damages to the car. At these times, an entire policy tenure goes by without any claims. Since no claims by the policyholder benefits the insurance companies, they provide a renewal benefit in return which is known as the no-claim bonus.

What are the benefits of no-claim bonus?

#1 Rewards: The most noteworthy benefit of the no-claim bonus is the reward offered by the insurance company for not making any claims during the previous policy year.

#2 Lower premium at time of renewal: Savings are another highlight of the no-claim benefits. The car insurance companies offer a concession at renewal of the insurance policy which result in savings in premium costs.

#3 Linked to the policyholder and not the vehicle: The no-claim benefits are linked to the policyholder and not the vehicle. Thus, these benefits are extended to all cars replaced by the policyholder. There is no limit on the number of cars that can be changed, and the benefits can be transferred seamlessly.

#4 Transferability: Since the no-claim benefits are linked to the policyholder, it is easily transferable. All that needs to be done is obtain a NCB certificate from the former insurance company and submitted to the new insurer.

What are the points to remember when transferring the NCB benefits?

As discussed above, no-claim benefits under an insurance plan are transferable. There are a few formalities that need to be completed to get the NCB benefits in the new insurance policy. It depends on whether the conventional approach of offline transfer or the modern-online way is chosen. For offline transfers, the sale agreement for the car along with RTO Form 29 and 30 are required to be accompanied to the letter requesting transfer of the NCB. An NCB certificate will then be issued by the insurer which needs to be submitted to the new insurer. For online process, it is much simpler wherein details about the previous insurance policy are required. Policy number, the percentage of accrued NCB are the detailed based on which the new insurance company will then take forward the process.  These details can changes as per IRDAI norms.

Here are some of the documents that shall be needed for NCB transfer –

  • Application for transfer of no-claim benefits
  • RTO Forms 29 and 30
  • Copy of the existing insurance policy
  • Details about the new car purchased (Booking form)

Take a note of the above-mentioned benefits of the no-claim bonus and its transfer use it smartly in car insurance transfer process. It can help you avail continued coverage from the insurance company as well as lower the insurance premiums. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

Small Business

Tips for Transforming Your Small Business into a Widely Recognized International Brand

It is the dream of every small business to grow into a widely recognized brand across multiple nations. You might even end up being a publically-held company having to deal with keeping investors happy and being transparent with insider buying. The beginnings of the most commonly and internationally recognized brands are built on small and local foundations. These businesses mushroomed into the vast, widely known international brands we see today with the right tips and critical decision-making.

The first and most significant step to transforming your small business into a mega global brand lies in your access to the proper guidelines. You should find what works for you and maximize it. You want your business to have substantial financial gains crucial for most small businesses. If you are interested in more tips on transforming your small business into a widely and internationally recognized brand, then read on to understand more.

Strategic Designing of Your Company Website

A website that targets a global audience should be strategically designed to meet worldwide needs. It should not be based solely on the web page and product appeal but on many other factors. Some of these factors include the text layout, which should incorporate a cultural and international appeal. It would be best to consider the target country’s linguistic and cultural preference for easy understanding and navigation by the audience. Moreover, when designing your business website for an international brand, you should pay adequate attention to the visuals and language components.

To successfully build your internationally and widely recognized brand, you should research and understand your clients’ requirements. Your goal is to meet their needs. Your financial resources also have a significant impact on your journey. Plan your finances well and have a reliable source such as mutual funds in cases of inadequacies.

Research About the International SEO Regarding Brand Promotions

SEO is a broad and complex subject. Building your business and promoting to international levels through SEO is more complicated. It entails way more than using the target country’s language to boost sales. Putting all the attention on the language limits the sales to a specific area which necessitates cultural diversity.

Some useful tricks to apply concerning international SEO include using diverse languages to meet a more vast audience from different communities. Displaying your content in multiple locations, generating traffic using the search bar, and structuring your website are also valuable for the success of international SEO.

Maximizing on the Importance of International PPC

International PPC plays different roles in transforming your small local business into an internationally recognized brand. By investing in international PPC, you increase the chances of unfolding your target country’s search character. With a significant insight into the latter, you brace yourself for your international competitors. You go into the war prepared, and you are bound to win.

International PPC also enlightens you on how your target audience’s purchase behavior. With a good branding score and practical skills regarding your landing page, you attract more traffic. The latter translates to higher sales and company recognition in the international market.

Respect the Power of International Social Media Marketing

We live in an era of technology where everything is found on the internet. Internet users find everything they need on the internet ranging from information to goods and services. Potential buyers spend most of their time online trying to find the most outstanding goods, services and dealers.

Marketing on social media is the latest trend. It allows you to access clients from every part of the world. To transform your small business into an internationally recognized one requires you to invest in global online marketing.

You can rely on your experience and resources from the net, but hiring a social media pro is the most effective option. They will advise you on the best steps to take and other relevant decisions like maximizing dominant search engines and adequate research.

Growing your small and local business into an internationally recognized entity is a process that requires patience, sacrifice, and commitment. It may take a long time, but you will reach your destination with the right tips and resources.

The competition also exists to motivate you to do better and not discourage you. Find your niche, create an avatar for your target customer—the unique feature to help you stand out and invest in marketing your company. Uniqueness gives your company a competitive edge which eventually allows you to cross borders and attain the desired international recognition.