Starting and maintaining a home business enterprise is a bold move. Home businesses can be immensely successful if you know how to maintain your businesses affairs in the right way. This article will cover some of the essentials you need to consider, to ensure the growth, success and profitability of your online business. If you have a home based business, don't miss out on the home office tax credit. You can claim this space even if you don't devote an entire room to your business. If you have an area which is only or primarily used for business purposes, you can claim it based on square footage, and calculate the portion of your home that is taken up by your office space.
Having the right kind of insurance is central to sound financial planning. Some of us may have some form of insurance but very few really understand what it is or why one must have it. For most Indians insurance is a form of investment or a superb tax saving avenue. Ask an average person about his/her investments and they will proudly mention an insurance product as part of their core investments. Of the approximately 5% of Indians that are insured the proportion of those adequately insured is much lower. Very few of the insured view insurance as purely that. There is perhaps no other financial product that has witnessed such rampant mis-selling at the hands of agents who are over enthusiastic in selling products linking insurance to investment earning them fat commissions. What is Insurance? Insurance is a way of spreading out significant financial risk of a person or business entity to a large group of individuals or business entities in the occurrence of an unfortunate event that is predefined. The cost of being insured is the monthly or annual compensation paid to the insurance company. In the purest form of insurance if the predefined event does not occur until the period specified the money paid as compensation is not retrieved. Insurance is effectively a means of spreading risk among a pool of people who are insured and lighten their financial burden in the event of a shock. Insured and Insurer When you seek protection against financial risk and make a contract with an insurance provider you become the insured and the insurance company becomes your insurer. Sum assured In Life Insurance this is the amount of money the insurer promises to pay when the insured dies before the predefined time. This does not include bonuses added in case of non-term insurance. In non-life insurance this guaranteed amount may be called as Insurance Cover. Premium For the protection against financial risk an insurer provides, the insured must pay compensation. This is known as premium. They may be paid annually, quarterly, monthly or as decided in the contract. Total amount of premiums paid is several times lesser than the insurance cover or it wouldn't make much sense to seek insurance at all. Factors that determine premium are the cover, number of years for which insurance is sought, age of the insured (individual, vehicle, etc), to name a few. Nominee The beneficiary who is specified by the insured to receive the sum assured and other benefits, if any is the nominee. In case of life insurance it must be another person apart from the insured. Policy Term The number of years you want protection for is the term of policy. Term is decided by the insured at the time of purchasing the insurance policy. Rider Certain insurance policies may offer additional features as add-ons apart from the actual cover. These can be availed by paying extra premiums. If those features were to be bought separately they would be more expensive. For instance you could add on a personal accident rider with your life insurance. Surrender Value and Paid-up Value If you want to exit a policy before its term ends you can discontinue it and take back your money. The amount the insurer will pay you in this instance is called the surrender value. The policy ceases to exist. Instead if you just stop paying the premiums mid way but do not withdraw money the amount is called as paid-up. At the term's end the insurer pays you in proportion of the paid-up value. Now that you know the terms this is how insurance works in plain words. An insurance company pools premiums from a large group of people who want to insure against a certain kind of loss. With the help of its actuaries the company comes up with statistical analysis of the probability of actual loss happening in a certain number of people and fixes premiums taking into account other factors as mentioned earlier. It works on the fact that not all insured will suffer loss at the same time and many may not suffer the loss at all within the time of contract. Types of Insurance Potentially any risk that can be quantified in terms of money can be insured. To protect loved ones from loss of income due to immature death one can have a life insurance policy. To protect yourself and your family against unforeseen medical expenses you can opt for a Mediclaim policy. To protect your vehicle against robbery or damage in accidents you can have a motor insurance policy. To protect your home against theft, damage due to fire, flood and other perils you can choose a home insurance. Most popular insurance forms in India are life insurance, health insurance and motor insurance. Apart from these there are other forms as well which are discussed in brief in the following paragraphs. The insurance sector is regulated and monitored by IRDA (Insurance Regulatory and Development Authority). Life Insurance This form of insurance provides cover against financial risk in the event of premature death of the insured. There are 24 life insurance companies playing in this arena of which Life Insurance Corporation of India is a public sector company. There are several forms of life insurance policies the simplest form of which is term plan. The other complex policies are endowment plan, whole life plan, money back plan, ULIPs and annuities. General Insurance All other insurance policies besides Life Insurance fall under General Insurance. There are 24 general insurance companies in India of which 4 namely National Insurance Company Ltd, New India Assurance Company Ltd, Oriental Insurance Company Ltd and United India Insurance Company Ltd are in the public sector domain. The biggest pie of non-life insurance in terms of premiums underwritten is shared by motor insurance followed by engineering insurance and health insurance. Other forms of insurance offered by companies in India are home insurance, travel insurance, personal accident insurance, and business insurance. Buying Insurance There are an umpteen number of policies to choose from. Because we cannot foresee our future and stop unpleasant things from happening, having an insurance cover is a necessity. But you need to choose carefully. Don't simply go with what the agent tells you. Read policy documents to know what is covered, what features are offered and what events are excluded from being insured. 1. Know your Needs Determine what asset or incident must be protected against loss/damage. Is it you life, health, vehicle, home? Next determine what kinds of damage or danger exactly would the assets be most probably be exposed to. This will tell you what features you should be looking for in a policy. Of course there will be losses which cannot be foreseen and the cost of dealing with them can be very high. For instance nobody can predict that they'll never suffer from critical illnesses no matter if they're perfectly healthy at present. The biggest mistake while it comes to buying insurance, particularly life insurance is to view it as an investment. Clubbing insurance and investment in a single product is a poor idea. You lose out on both fronts because for the premiums you're paying more cover could've been got in a term plan and if the premiums were invested in better instruments your returns could've been several times more. Be wary of agents who want to talk you into buying unnecessary policies like child life insurance, credit card insurance, unemployment insurance and so on. Instead of buying separate insurance for specific assets or incidents look for policies that cover a host of possible events under the same cover. Whenever possible choose riders that make sense instead of buying them separately. Unless there is a fair chance of an event happening you do not need insurance for it. For instance unless you are very prone to accidents and disability due to your nature of work or other reasons you do not need an Accident Insurance policy. A good Life Insurance policy with accidental death rider or waiver of premium rider or a disability income rider will do the job. 2. Understand Product Features and Charges The worst way of choosing an insurance product or insurer is to blindly follow the recommendation of an agent or a friend. The good way to do it is to shop around for products that suit your need and filter out the ones offering lower premiums for similar terms like age, amount of cover, etc. All details you need about the product features and charges will be provided on the company's website. Many insurance policies can now be bought online. Buying online is smarter because premiums are lower due to elimination of agent fees. If buying offline in case of life insurance, tell the agent that you're interested only in term insurance. Before you sign on the contract make sure you have understood what items are covered and what items are exempted from the cover. It would be so devastating to learn in the event of damage or loss that the item you hoped to cover with the insurance was actually excluded. So many people rush to their insurers after being treated for diseases only to realize that the particular disease was excluded. Understand details like when the cover begins and ends and how claims can be filed and losses be reported. Don't choose an insurance company because your neighbourhood friend is their agent and never let them coax you into buying from them. Insurance premiums run for years and it means a sizeable amount of money. Apart from the premiums charged look for the service provided. When you are faced with a peril you want the claims collection processed to be complicated with non-cooperating staff in the insurance company's office. Seek answers from people who have had previous experience with the company for questions like how customer friendly and responsive the company is when it comes to handling claims. 3. Evaluate and Upgrade in Time As you walk from one life stage to another or when the asset insured changes your policies must be reviewed. Perhaps your cover will need to be increased (or decreased) or you'll need to top it up with a rider. Some instances when you need to review your cover are when you getting married, when you have children, when your income increases your decreases substantially, when you're buying a house/car and when you're responsible for your ageing parents.
HALAMAN SELANJUTNYA:


business casual business cards business insider business plan business casual women business letter format business casual men business plan template business name generator business attire business analyst salary business acumen business analytics business administration degree business administration jobs business articles business analyst jobs a business plan a business's source documents a business uses a credit to record a business owned by one person a business organized as a corporation a business that performs an activity for a fee a business's size is measured a business letter a business that gives you a loan is a business plan is best described as a business boutique business bank account business books business broker business backpacks business banking business budget template business bureau business buzzwords business blogs b business solutions b business schools b business words b business bureau b business credit score b business solutions mystery shopping reviews b business hotel b business hotel and spa b business uts b business administration c business words c business functions in jde c business class c business school c's business letter writing business c/o business c level business c suite business c corporation business development business degree business definition business development manager business days business day calculator business dictionary business degree jobs business dress business development manager salary d business words d business class td business direct dbusiness top 500 d business administration d-business entertainment d business names d business class qantas d business consulting business dandb number business ethics business email business entity business entity search business etiquette business executive business email format business email address business economics business essentials e business cards e business definition e business international e business models e business visa india e business fbla e business staffing e business consultant e business examples e business vs e commerce business formal business facebook business first business formal women business finance business first bank business flyers business funding business facebook page of business of businesses that fail of business days between two dates f business words of business company ofbusiness funding of business careers of business glassdoor of business crunchbase of business gurgaon glassdoor business grants business google business goals business grants for women business gmail business games business gifts business growth business goals examples business general liability insurance g business suite g business extractor g business insight g business words g business hub g business park jaipur g business news live g business center g business email g business center coimbatore business hours business holiday cards business headshots business hours sign business haircut business horizons business health insurance business hairstyles business hierarchy business hashtags h business words h business review h business tower dubai handm business casual handm business model handm business attire handm business clothes handm business strategy handm business controller handm business wear business intelligence business insurance business intelligence analyst business in spanish business is business business internships business insider bias business intelligence analyst salary i business banking i business solutions i business network i business magazine i business funding i business class i business technologies i business login i business promoter i business words business jobs business journal business judgment rule business jargon business jobs near me business jet business justification business jokes business jacket business jargon generator j business directory j business class j business directory joomla j business directory documentation j-businessdirectory free download j-business directory nulled j's business solutions j business names j business class thai airways j-businessdirectory download business knight rutgers business knowledge business kpis business kitty business knowledge services business know how business key business kakuna business kids business koozies k business solutions k business words k business names k business spaces vijayawada k business system k business square k business logo k business center k business spaces k business square gachibowli business loans business letter template business loan calculator business law business line of credit business letter example business lawyer business liability insurance l business words l-business a/s l business solutions l business license business l.p business l'oreal business landd business l.c landt business emerging fund landt business cycle fund business model business model canvas business majors business memo business management jobs business management degree businessman business marketing business management salary m business 5th edition m business 5th edition pdf m business 6th edition pdf m business ferrell m business 6th edition pdf free m business communication m business 5th edition ebook m business 4th edition m business 5th edition chapter 1 m business book business name business name search business name ideas business near me business news articles business name generator free business news daily business networking n business words in business in business search in business magazine in business be men in business terms what is profit in business the four basic forms of competition are in business failure usually means what in business band in business organizations most employees work in business office depot business operations business owner business opportunities business objects business operations manager business organization business of the 21st century business of being born o business words o business introductions and first impressions o business portal o business class o business solutions centro business centre o business meaning business o level past papers business o level marking scheme business o level business proposal business plan outline business proposal template business plan examples business plan definition business professional men business process management p business words p business class p business center p business class lufthansa p. business sdn bhd p business solutions business pandl business pandl template business.p aytm.com/retail business quotes business quarters business quote of the day business questions business quote template business quizlet business quiz business quotes funny business quarters 2019 business quote generator q business words q business services q business furniture q business page az q business qatar q business source billings montana q business services page az q-business advisory q business consultants q business names business resume business requirements business report business roundtable business risk business registration business reviews business rules business real estate business reply mail r business days r business analytics r business words r business class r business ideas r business intelligence tool r business analysis r business science r business news r business analytics examples business school business school rankings business search business synonym business strategy business signs business systems analyst business suit business statistics business services s business words is business school worth it is business a good major is business a social science is business class worth it is business casual jeans is business insider a magazine is business insider a credible source is business a ba or bs is business stem business to business business tax business time business terms business technology business types business track business tax id business thank you cards business to start t business.wa.gov/bls t business words t business.udemy.com t business names t-business login t business portal t business center t business email t business solutions t-business mobile business unit business use of home business universities business uber business use case business undergraduate ranking business up front party in the back business url business unionism business use of car u business words u business consultancy sdn bhd u business school u business account u business class u business center bucuresti business u of c business u of t business u of r business u can start with little money business valuation business venture business visa business valuation calculator business verizon business value business visa usa business voicemail greeting business vocabulary business valuation methods v business card v business words v business center v business zone v business enterprises v business names v business center university street v business center business park v business center queen rania street business v sebelius business week business wire business woman business writing business website business wars business women business words business writing course business world w business words w business capital w business wind w business lunch w business centre north point w business centre birkirkara w business center w business school w business bay w business hours business xfinity business xtra business xpansion journal business xpress business xfinity login x business words x business names x business wordpress theme x business resources jx business resources sdn bhd x business solutions x business tirol x business salzburg x business rb business and media business yelp business yelp login business yellow pages business yoga pants business youtube business yard sign business youtube channel business you can start from home business year business yahoo my business y business words my business course my business verizon my business venture my business account my business listing my business google account my business app my business vonage business zone business zoom business zillow business zone pro business zoning laws business zombie business zip code business z class business zelle business zipper binder z business class z business words z business class united z business class delta z business card z business contact number z business mandi live z business share price z business share market z business hindi news business 0 credit cards business 0 apr business 0 balance transfer business 001 quizlet business 02 business 0450 past papers business 0450 syllabus business 0lan business 0062 conestoga 0 business credit card 0 business loans 0 business credit card balance transfer 0 business line of credit 0 business credit card uk $0 business account 0 business rates 0 business car finance 0 business tax 0 business loans uk business 101 business 101 books business 101 quizlet business 101 pdf business 100 business 12th edition business 1st bank business 101 course business 101 textbook business 121 1 business day 1 business day from now 1 business day shipping 1 business day means 1 business day from friday 1 business days from today 1 business connection 1 business day shipping old navy 1 business day from sunday 1 business day delivery business 2.0 business 2 community business 2 business business 21 business 2018 business 2000 app state business 2.0 magazine business 201 business 2019 business 2.0 definition 2 business days 2 business days from today 2 business day shipping 2 business days from now 2 business credit card 2 business days from tuesday 2 business days from saturday 2 business days from monday 2 business day shipping from friday 2 business days means business 365 business 302 business 365 login business 360 business 30 automotive business 302 materials business 3 ring binder business 3d printer business 310 business 32 smc 3 business days 3 business days from today 3 business days from thursday 3 business days from tuesday 3 business organizations 3 business days from friday 3 business days from saturday 3 business types 3 business days from sunday 3 business ethics business 40 closure business 4.0 business 4 wv business 40 closure map business 4.0 tcs business 40 traffic business 411 business 4th quarter business 40 closing map business 4 ps 4 business days from today 4 business cycles 4 business functions 4 business structures 4 business quarters 4 business strategies 4 business types 4 business models 4 business sectors 4 business responsibilities business 5 year plan business 501 business 500 business 5th edition business 50th anniversary business 5 forces business 5 year plan template business 5e business 5 smc business 5g 5 business days 5 business days from today 5 business environments 5 business days from monday 5 business level strategies 5 business ideas 5 business days from tuesday 5 business days from thursday 5 business days from wednesday 5 business processes business 6th edition business 60th anniversary celebration ideas business 690 sfsu business 6-12 texes business 6 mark question business 600 visa business 6 letters business 6 crossword clue business 6 p's business 6000 cisco 6 business environments 6 business card holder 6 business functions 6 business hours 6 business strategies 6 business days from friday 6 business types 6 business weeks from today business 77 business 78216 business 7 ps business 7115 past papers business 777 emirates business 7 movie business 7 days business 7000 mun business 702 business 7132/1 7 business days 7 business days from now 7 business days from monday 7 business activities 7 business principles 7 business days from thursday 7 business days from friday 7 business days from tuesday 7 business days from wednesday 7 business capital business 80 business 85 business 83 business 80 traffic business 80/20 rule business 85 high point business 85 accident business 800 number services business 80 accident business 85 traffic 8 business days from today 8 business functions 8 business card holder 8 business days 8 business numerology 8 business functions grade 9 8 business functions essay 8 business functions grade 10 8 business parade south 8 business functions essay grade 10 business 98 business 911 business 98 panama city fl business 90 day plan template business 95 business 941 form business 9/11 posts business 901 podcast business 916 370 business 90 day plan 9 business days from today 9 business days 9 business model canvas 9 business models 9 business functions 9 business park drive lynbrook 9 business news 9 business model canvas components 9 business model components 9 business blocks

Tidak ada komentar:

Posting Komentar