• Finance

    How to Get the Best Car Insurance Quote

    Car insurance has become quite a necessity these days. Well, most people are quite aware of the basic facts, only a few pay attention to these until they’ve been in an accident. One should always do due research before choosing a policy but most people don’t know what to do and what not to do. Well, fear not, as down below a few important points have been provided that will help you to choose the best car insurance quote. Well, check those out down below.

     Choosing the Best Car Insurance Policy:

    Here are a few tips that one should look for before choosing a car insurance policy.

     Comparing Various Rates:

    If you are a new customer then what you need to do first is call an insurance company and check the various premiums of the car. If you already have insurance then you need to call your current insurer and get the premium rates. The reason for doing this is because the cost of car insurance varies and this depends on the various benefits that come with the insurance.

    This is quite necessary as it will help you to access your budget and accordingly choose the insurance that you want. Also, if you are a new customer, then research the company properly before choosing.

     Avoiding Gaps:

    Most of the times one forgets to pay the premium of the policy and the late fees need to be paid and sometimes non-payment leads to the policy getting lapsed. What you need to keep in mind is that if you are switching policies then there shouldn’t be any gaps or missed premiums.

    As mentioned before, if you miss a premium or some premiums and your policy gets lapsed then what happens is that the rates of the insurance get increased. This may become a huge issue. So, make sure that there are no gaps.

     All Discounts Need to Claimed:

    Some cars these days come with extra safety features, well, if your car has one of those, then you might be eligible for some discounts. Well, to know what discounts are available, you need to talk to the insurer and discuss with them what discounts are available and what about the criteria of availing that discount.

    If you are someone who has taken a defensive driving class or if you are a student or you have good grades, then you could be eligible for discounts. These are some of the criteria for getting discounts and apart from these, there are several others too. Polices from Hong Leong Insurance comes with a lot of such types of discounts.

    How to Get the Best Car Insurance Quote

     Driving Cautiously: 

    This might sound as if it’s not true but actually, it is. If you are someone with driving history, then it is likely that the cost of your insurance will be a lot higher. The cost of your insurance also depends on your driving history for the past 3 – 4 years, they check for DUI’s Car accidents and other violations made by you within the mentioned time frame.People with good driving history need to be cautious too as any issues with your driving might increase the chance of your insurance rates going up.

     Reduction of Deductibles:

    This is one of the best ways to reduce your premium. If there are any minor issues with the car then don’t go ahead and use your insurance. Just pay it out of your pocket and this will in turn benefit you. By doing this your premium will be reduced, thus making things easy for you.

     Insurance Agents:

    The target of most insurance agents is to make a sale. There are two types of insurance agents. One is captive and the other one is independent. Both come with their pros and cons. So, if you are planning to get an insurance throng an agent or a broker then you might end up paying more for the insurance.

    Captive Agents will help you determine what kind of insurance you need and they will form a kind of relationship with you but the level of satisfaction won’t be good. Apart from that, the options will also be quite less than what a company can offer. On the other hand, a broker or an independent agent will help you compare policies but will also charge you a fee and along with that, they will also not offer you the cheapest policies.

    Well, these are some of the factors that one should know about to get the best car insurance policy. Apart from these, there are various other factors as well, but the mentioned here are the basic points. Hong Leong Insurance is one of the insurance companies like HLAS that provide you with discounts and benefits. But before choosing any company do your due research.

  • Business

    Equity funds Vs Debt funds

    Many people have a common misconception that all the mutual funds available in the market are the same. However, this is not the case, there are different types of mutual funds. The most popular of all these types are equity funds and debt funds. The difference between these two depends on where the money is invested. Debt funds invest in fixed income securities, whereas equity funds invest in equity shares and related securities. Equity and fixed income securities offer different properties and those are the deciding factors that impact returns on investment.

    Let’s understand these two types of funds and the difference between them

    Meaning

    Debt fund – Debt fund is a type of mutual fund that enables you to invest your money in fixed income securities such as bonds and treasury bills. A debt fund can be an investment made for short term as well as long term bonds, money market instruments, scrutinized products or floating rate debt.

    Equity funds – Equity funds, also known as stock funds, are mutual funds that invest shareholder’s money principally in stocks. These funds are primarily categorized depending on the company size, the investment style of the holdings in portfolio and geography.

    Nature of funds

    Debt Funds – The money collected from the shareholders gets invested in fixed income instruments such as corporate bonds, high-rated instruments, and non-convertible debentures.

    Equity Funds – In case of equity funds, the money raised from investors is invested in equity and equity-linked instruments. For example, a portfolio with more than 65% invested in such funds is usually considered as equity funds.

    Debt funds

    Risk Factor

    Debt funds – Debt funds are safer in terms of risk factors in comparison with equity funds. It is because they primarily invest in funds such as government and corporate bonds. There is merely any risk involved in government bonds, although in corporate bonds, you must check ratings before investing money. It is because the bond prices are sensitive to changing interest rates. There can be a corresponding fluctuating Net Asset Value (NAV) of the fund.

    Equity Funds – Equity funds areriskier than debt funds due to their volatile nature and sensitivity towards economic factors like tax rates, inflation, bank policies, etc. Therefore, any change in market prices has a direct impact on the NAV of the fund.

    Tax Liabilities

    Debt Funds – Debt funds held for more than 36 months are taxed at 20% with indexation. For short term debt funds, the capital gain is added to the total income of the investor, which gets taxed as per the income tax slab in which the investor falls.

    Equity Funds – The long term equity terms are exempted from capital gain taxes. Although, equity funds held for 12 months or less are taxed at 15% flat.

    Returns

    Debt Funds – Debt funds offer steady returns but only in a constant range. It is a great option when the market is volatile.

    Equity Funds – Equity funds offer good returns if invested for a longer term. But at the same time, it carries the risk of higher losses.

  • Business

    All you want to know about A1 level in qualification exams in English

    The European Council has set up some standards to determine a person’s proficiency level over the English language. A1 level is the first step, to begin with, a person who doesn’t have any prior knowledge about the language and just started learning this language is at this stage. To check a person’s command over the language the many levels of the test were conducted, the initial level is a1 English testWe are going to discuss what this a1 level skill is? And what you can do with this level?

    Know what you can do with an A1 level in English?

    As a beginner level, it would be sufficient for very simple interactions, and you need not be worried when you are planning for a trip to an English-speaking country. For academic or professional purposes, this A1 level certification is not sufficient. You can at least have a slight confident level, but this level wouldn’t be more sufficient for writing or academic purpose.

    According to the official CEFR guidelines, a person who is at the A1 level in English:

    1. Will understand everyday expressions and very basic phrases
    2. Able to introduce themselves
    3. They can question and answers basic things about them, where they live, and the things they know.
    4. They can understand what a person speaks when the opposite one speaks slowly and calmly. You can even interact with them.

    english skills

    A1 level English skills in detail

    When we speak about these skills in detail, we are breaking it down to be clearer, so you eventually understand what is your language proficiency. This can further assist you in how you can proceed with further steps or levels and for now, you can pass the a1 English test.

    • They can introduce themselves to basic greetings.
    • Can tell where they are from and even describe their city
    • Using simple talk they can describe their family and colleagues’, their personalities, and also their appearance.
    • Can communicate about clothing at a basic level and ask salesclerks simple questions
    • Can make simple food orders
    • Can arrange meetings with friends and colleagues
    • Can discuss weather conditions by listening to the weather reports
    • Describe the common medical symptoms to a doctor
    • Can give simple direction instruction to reach their home
    • Can do basic transactions(check-in & Check-out) at hotels
    • Comfortable with the basic purchase and returns
    • They can able to do basic purchases and return the items which are damaged
    • Make plans with their friends

    You can assess these things and self-check yourself for your language proficiency.

    Final words:

    If you feel like you are okay with this level you can start proceeding to the next level – A2. Or if you feel you need to have some strong basics on this a1 level, then you can take some short term courses of 60 to 80 hours to improve your basics, this can help you to have a strong foundation.