Affordable Protection Plans by SBI Life Insurance Company Limited

A joint venture between BNP Paribas Cardiff and India’s leading public sector bank – State Bank of India, SBI Life Insurance’s 74% stake is held by SBI while BNP holds the remaining 26% stake. The company offers low-cost protection plans that are specially designed for financially unstable people to help them face unforeseen events of life. SBI life insurance plans offer comprehensive protection to its customers so that they can enjoy their lives uninterruptedly.

SBI Life – Smart Shield is a non-participating pure traditional term plan, which offers comprehensive protection to the policyholder by providing the one-stop solution to meet all the major requirements. This SBI life plan is the most suitable one and specially designed for those who look forward to availing the best protection when it comes to finance. This affordable insurance plan is recommended for your family when you are no longer around to fulfill their basic needs.

Key features of the plan:

Builds a strong foundation of your family, thereby assuring them the secure future
Assured healthy lifestyle with regular rewards
A range of options that power you to get rid of your liabilities
Assured rebates on large sum
Tax benefits as per Income Tax Act of the prevailing norm
Rider options for additional coverage, viz. accidental death and permanent disability rider, critical illness rider and more
SBI Life – Saral Shield is a non-participating pure traditional term plan, which not only covers your family but also assures them proper security at an affordable cost. The plan is an assurance for the fulfillment of every dream of your family without failure.

Key features of the plan:

Quick and hassle-free plan purchase
Assured financial security
Multiple choices to get rid of your liabilities:
Level Term Assurance
Decreasing Term Assurance (Loan Protection/Family Income Protection)
Discounted premiums for women
Rebates on large sum assured
Tax benefits as per Income Tax Act of the prevailing norm
Rider options for additional coverage, viz. accidental death and permanent disability rider, critical illness rider and more
SBI Life – eShield is a non-linked, non-participating individual plan, which provides benefits and features that are custom tailored for people who seek assured protection in terms of finance while the cost of the plan remains reasonable.

Key features of the plan:

Affordable premium for security of your family
Quick and easy, secure online processing
Assured healthy lifestyle with regular rewards
Multiple choices of plans:
Level Cover
Increasing Cover
Option to choose accidental death benefit
Tax benefits as per Income Tax Act of the prevailing norm
SBI Life – Grameen Bima plan is targeted at the deprived section of the society and is available at affordable premiums rates. This plan pure term, individual micro-insurance plan is to power them face the difficult times of their lives. With this insurance plan purchased, the deprived section of the society and those who are economically vulnerable can tide over unfortunate events of their lives.

Key Plan Highlights:

Life insurance coverage offered is subject to the premium selected by the customer.
Policy acceptance is based only on health declarations by the customer.
Simple form-filling for registration

4 Things to Check When Opening a Checking Account

The process of opening a checking account is very simple. Just go to the bank, fill up an application form and submit the required documents. However, owning a check book involves more than going to the bank and submitting documents. There are other things to consider. You have to remember that a checking account, whether it is a personal or business one, is a weapon. Thus, this is the reason why you need to be very careful when you open and maintain one.

Check for bank reputation

Customer service and reputation nowadays is very important and all the more that you need to consider the bank’s reputation when opening a checking account. You need to know if the bank staff are accommodating, know the check clearing process, and find out if their checking account policies are comfortable on your part as well as easy to fulfill. For example, some banks will allow to clear checks even if you lack funds to back up the check you issued, provided that you are willing to pay for the interest as transaction fee.

Check for interest rates

A checking account is like a savings account too as you deposite money to your account in order to back up the checks you issued. As such, it is just right that you look for banks that offer high interest rates for checking accounts. In addition, you also need to find out the minimum maintaining balance in order to earn interest income from your checking account.

Check for number of branches

The bigger the number of branches or satellite offices, the better as there are companies which do not accept check payments if your issuing bank does not have a branch in areas where they operate. Companies are more concerned that checks received can easily be converted into cash and require no clearing days or travel just to convert it.

Check for the account package

Banks offer different kinds of checking accounts and its corresponding benefits. And that means you have to find out which one is suitable for your needs. For example, you do not need to own a platinum checking account if you are just starting your business and pressure yourself with regards to achieving the high maintaining balance it requires. There is always a right checking account package based on your financial status and needs.

Once you have already determined all of the above factors and you now have a checking account, it is always important to remind yourself to take good care of it. It is an extension of yourself and each check manifest your desire to respect the financial obligations attached to it each time you issue a check to pay for goods or services. One bounced transaction is enough reason for your issuing bank to cancel your checking account. It is also one situation where your business partners and associates no longer respect your checking account and instead settle for cash payments. Even a check cashing business will be hesitant to accept your check if they will find records of bounced check transactions.

Know about the options and their differences

Learn about Options:

There are two types of options that one can opt for the suitable strategies. Similarly, there is two halves of every option trade too. These are the parties who are purchasing the option and the other party whose job is to sell or write the option. Well the brief idea and the differences Call Option and Put Option are given below.

Call Option

This particular option is basically a consent offering the investor the authority but not pressure to buy stock, or any primary asset at a listed cost within a predefined span of time.

The buyers of a call option have the authority to purchase the shares at the primary asset’s strike cost till the expiry date of the call. The buyers of the call do not though have the pressure to by basic shares.

The investor writes or sells a call, though will have the responsibility to vend his or her portion of the basic property at a stated cost should the call purchaser decide to purchase those shares.

The purchaser of the call option aims to be benefited when the cost of the basic stock shares move high. And the cost of a call option will go up as basic shares of stock move high. The seller or writer of a call option is expecting for the opposite because they will be benefitted more if the price of the basic shares go down.

Put Option

Put option is also a consent that provides the holder of the put the authority, but not the responsibility to vend a set quantity of the basic stock or any other property at an itemized cost with a stated duration. For that reason, the buyers of the put option have the authority to sell their basic shares at a fixed price. Contrarily seller of put option is responsible to buy the shares of basic stocks at the fixed strike rate should the put purchaser determine to vend their portion.

The purchaser of the put option will be benefited more when the cost of the primary stock declines. And the market price of the put options goes higher when the cost of the basic stock declines. For that reason writer of put option is expecting for the option to laps with the cost of the basic stock static above the strike price of the option.

So all these are main facts about the options that one should know properly.