Posts Tagged ‘insurance policies’

Set Up New Financial Plans After A Divorce !!

Set Up A New Financial Plans After A Divorce

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You need to do long term financial planning when you are going through a divorce.

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It’s important that you recover from the split by assessing your situation as singles and setting up new financial plans with a focus on longevity.

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Here are five simple steps for building your financial future after a divorce:

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1. Start with a plan.

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Take a look at your finances before the divorce and then subtract what you’ve lost to give you a good perspective on your fiscal situation.

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Be realistic with yourself and set a budget that you can easily manage with your new single status.

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2. Check your credit.

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Maintaining your credit is an important step in walking away from a divorce financially intact.

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Examine your credit reports and ensure that any name changes or card closures are accurate and taken care of.

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3. Ensure your retirement.

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Confirm that all of your retirement arrangements are intact and that any assets or funds you are entitled to have been taken care of.

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Division of savings and accounts should be paramount in your review.

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4. Obtain the necessary insurance.

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Examine your insurance policies and make sure that you and your property are still covered.

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5. Review your taxes.

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Understanding the tax ramifications of your divorce is a key part of planning for your financial future.

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Confirm that all tax responsibilities between you and your spouse are coordinated appropriately.

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Surge in Vehicles Sales Pushes Profit of General Insurance Industry, Up :)

general insurance

The general insurance industry reported growth of 14 per cent in July, mainly due to sales of motor insurance policies.

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In July, passenger vehicle sales reported growth of 29.1 per cent and commercial vehicle sales grew at 9.6 per cent.

Consequently, sales of motor insurance policies also increased.

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In the reporting month, gross written premiums (GWPs) of the public sector insurers stood at Rs 1,680 crore, which is higher by 13.5 per cent.

Private sector players’ GWPs grew 14 per cent at Rs 1,176 crore.

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Meanwhile, state-owned players such as United India Insurance, New India Assurance and Oriental Insurance posted double-digit growths.

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National Insurance was the only public player to have a single-digit growth.

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Even as the public sector players posted a good growth,the two big private players — ICICI Lombard General Insurance and Bajaj Allianz General Insurance — registered negative growth.

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However, market is picking up.

Though there is some slowdown in the travel insurance segment, but motor insurance is picking up.

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