Why is life insurance important?
A life insurance policy provides financial support to the family members of the policyholder in case of his/her demise. If you are a sole breadwinner for your family, you must buy a life insurance policy to ensure your loved ones do not face financial problem to sustain their lives, when you are not around. The money received from life insurance policy can help them live the same standard of living as they live when you are around.
Why should I buy life insurance?
If you are earning member of the family you should buy a life insurance to ensure that your family continues to receive income even when you are not there. A life insurance policy is like a financial safety net that protects your family financially in your absence. It provides a sum assured to your family in case of your demise during the policy term. The sum assured can be used by your family to tackle daily and crucial expenses.
What are the forms of Health Insurance available?
The commonest form of health insurance policies in India cover the expenses incurred on Hospitalization, though a variety of products are now available which offer a range of health covers, depending on the need and choice of the insured. The health insurer usually provides either direct payment to hospital (cashless facility) or reimburses the expenses associated with illnesses and injuries or disburses a fixed benefit on occurrence of an illness. The type and amount of health care costs that will be covered by the health plan are specified in advance.
How many Sectors are there to invest in Stock Market?
You can invest in 11 different sectors in the stock market. This type of industry categorization helps the portfolio manager create a diverse portfolio and allocate funds more efficiently.
Is there any time for buying shares or doing a trade?
Yes, you can only trade between 09:15 am to 3:30 pm on weekdays. But you can place AMO type of orders after these trading hours.
Can I become a millionaire by investing in stocks?
This is one of the common questions about the stock market and the answer is yes. Having said that becoming a millionaire by investing in stocks is not easy and requires a lot of diligence. If you wish to earn from the stock market you have to put a lot of time and effort into researching companies. To conclude the stock market is an amazing investment option but not everyone is attracted to it and mostly it is due to the fear of losing money. But with enough time and efforts, many can use this as an opportunity to create wealth.
How many stocks should I buy in my portfolio?
The portfolio should not be either over diversified or under diversified. An over-diversified portfolio can make tracking a hassle and does not yield good results. On the other hand, if you invest in limited stocks in your portfolio then the falling of one stock will also impact your portfolio adversely.