Conviction of Mind

Jagoinvestor has come up with ' Action Month ', for making real difference in your financial life. This will be really beneficial if you are procrastinating something for long. Just do it and clear the financial mess around you and be happy. You can do either one or all of the following: - Start an SIP with one or more Mutual funds (according to your requirement) (I did it, I already had one) - Create a new Term life insurance. - I already have one and plan to increase it next year. - Create a new health insurance - I have it already - Surrender useless policies - I checked the policies that I have but none of them have to be surrendered. - Organize your financial life - I have all of the financial documents in digital format. This will certainly help your financial life and don't forget to register for Action month in Jagoinvestor website. There is very nice article on Stop loss in Understanding the Stop loss . Its a very good read and this explains

we saw the importance and benefits of Health insurance here . Now, we will see practical examples and for whom it will save their life. Scenario 1: Person A depends on his daily income for his living. He saves around 2 lakhs in 3 years and goes in a two-wheeler to his office daily. He is a acting driver and his aim to become a owner of his vehicle and run it under a call taxi company for the next few years before starting a company like that (probably). But, all of a sudden, he met with a road accident, when he was driving his two wheeler and his hospital bill came to 1.8 Lakhs. The worst part he didn't have any health insurance but had bike insurance which covered his bike and his bike was covered in his insurance and he had lot of ENDOWMENT policies from LIC. If he had term insurance policies, he would have used the some part of money towards health insurance and remaining money towards mutual funds. Scenario 2: Person B is working in a private concern. He is a consulta