Why Are Top up Health Insurance Plans a Perfect Choice?

Life is full of surprises and being an unpredictable journey can take sharp, fatal turns at the moments which are capable of leaving individuals with physically, emotionally, mentally and financially surpassed. Generally, a normal health insurance cover taken by the individuals with these days is not sufficient for the health needs of the entire family. , and more often than not people are found in a situation where their medical insurance does not cover their entire hospitalization bills.

In the same light, we need to acknowledge that medical costs are rising at a faster rate than the general inflation. Moreover, many health insurance options are enough to finance low hospitalization costs, but cannot finance more expensive treatments e.g. strokes and heart attacks. It is, therefore, necessary for individuals and families to have a cover that can cater to all their treatment costs. This is where top-up health insurance plans come into play. These plans offset any treatment costs that an individual’s health insurance plan does not cover.

health insurance

What is a top-up health insurance plan and how does it work?

  • A top-up health insurance plan is simply an indemnity plan that covers costs associated with your hospitalization.
  • You can top up on a public health insurance plan or on a private medical insurance plan.
  • Top up plans work towards bridging the gap between current medical policies, and the resulting hospital costs.
  • Top up plans only come into effect once the thresh hold limit on your existing medical insurance has been exhausted. Simply put, if your hospitalization costs have exceeded the amount that your insurance company is entitled to pay, your top up plan will be triggered and this will cover any additional costs.
  • The higher the deductible amount on your top up plan, the cheaper the plan will be.
  • If you are looking for a top-up plan for your family, you can choose between an individual plan for each member and a floater plan to cover everyone. It is prudent to have individual medical insurance plans for each member of your family, and a floater top-up plans to cover everyone.

Putting the top up plans into context

If you have an insurance plan that will cover all medical costs up to 5000 pounds, you can opt to choose a 10,000-pound top-up plan with a deductible amount of 5000 pounds. This means that if your hospitalization costs amount to 8000 pounds, your insurance plan will pay 5000 pounds and your top-up plan will pay the remaining 3000 pounds.

Why choose a top-up health insurance?

  • If you are in the UK you can receive treatment faster with a top-up insurance plan, than if you are relying solely on the normal health insurance plan that can span up to 4 months.
  • Top up health insurance plans are much more affordable when compared to regular health policies. It is, therefore, less prohibitive to purchase a top-up plan, then to increase the premium on your regular insurance policy.
  • You do not need an existing insurance plan to apply for a top-up plan, though it is an exercise in futility to purchase a top-up plan if you are not already covered.
  • Most companies that offer top-up plans do not require you to undergo a medical checkup if you are below a certain age (usually below 50). This means that the rate of your top up plan is not influenced by your lifestyle and health condition.
  • Top up plans can be purchased independently from your regular health policy. This means that your top up plan insurer and your regular medical insurer can be different. This feature not only gives you a wide and varied selection, but it also makes it easier for individuals and families to purchase top-up plans.
  • Top up plans are not discriminatory and cover all treatment costs incurred during hospitalization.
  • Top up plans save individuals stress and hassle that occurs when you have high bills that you cannot pay off.

If you are looking to insure yourself against all financial deficits that may arise from elevated medical costs, purchase a top-up health insurance plan today. With the top up plan working together with your existing health policy, you are ensured that your health costs are covered now and in the future. Besides, having the top up health insurance plans it’s better to be insured with the EHIC card (European Health Insurance Card) for the low-cost medical allowances in the future.


Significance of Mutual Funds as Profitable Investment Option

Starting from its conceptual incubation mutual funds have promised to bring noteworthy monetary gains to the investors. The procedural simplicity associated makes mutual funds a lucrative investment proposition for different category of investors possessing variable financial capabilities. Mutual funds are unique because they deliver an income that qualifies for taxation after making payments for dividend and capital gains on the yearly basis. The losses incurred in the mutual fund do not qualify for distribution among investors. Instead, preference is given on retaining for offsetting future gains on fund’s behalf.

Mutual Funds

Asset Diversification through investment mixing

Through the purchase of mutual funds, the investor receives the benefit of asset diversification and its reallocation. In this endeavour, it is not necessary to possess significant cash deposit in the process of creating individual portfolios. Mutual fund holds many securities that diversify the risk associated with minimal after effect when they materialize. Mutual funds provide diversification through a delicate mix of investments that surface as a highly effective instrument for mitigating financial uncertainties. Mutual Funds make it necessary to purchase stocks with varying capitalization from various industries along with monetary bonds possessing variation in the maturity process from diverse issuers.

Facilitating Economies of Scale

Mutual Funds are unmatched in their capability of taking advantages of their market size that optimises cost-effectiveness for investors. In the process of buying a mutual fund, you are provided with adequate information to achieve diversification minus the overhead cost of commission charges. Minimal commission charges prevent the drainage of savings Mutual Funds facilitate transactions on a wider scale for a minimum amount of money. In mutual funds, updating a portfolio is highly cost-effective. The transaction fees associated possess an inverse relationship with the number of securities purchased. The easier way around for understanding economies of scale associated with mutual fund may be realized by thinking about an investment opportunity in terms of volume discounts.

Rendering advantage through divisibility

In modern times, investors may not be having sufficient financial backups to purchase humungous amount securities. Possession of few hundred bucks is likely to be insufficient for purchasing plentiful of stocks post commission deductions. Mutual Funds offer the option to investors for making a purchase in considerably small denominations. Through smaller denominations, investors get the opportunity for making periodical investments through purchase plans that are framed on a monthly basis.  With Mutual Funds, investors do not have to wait for having enough money at their disposition.

Benefits of Liquidity

Mutual Funds bring the advantage of asset liquidity enabling investors to withdraw or re-enter in an investment plan with ease. Investors get the opportunity to sell mutual funds in a shorter span of time without incurring significant disparity between the sales price and the actual market valuation. When you buy a mutual fund, advantages of professional money manager are made available. The manager will offer valuable insights on the investment option available. Hence, the necessity to research on every investment opportunities gets’ dissolved that makes Mutual Fund time effective. Mutual Fund services are provided by a large number of financial organizations that make the comparison of expenses easier.


Your 30s Is Crucial – Make It Secure And Live Rest of Your Life Prosperously and Peacefully

Are you in your 30’s? Well, this phase of your life can be a boulevard of challenge(s) for you. In this chapter of life, most of the people have to undergo major changes, like getting married, gaining mother or fatherhood, buying own homes and witnessing significant career moves. Moreover, with all these transitions of one’s life, finances are intricately related. In fact, this decade of one’s life, decides his or her financial stability for the rest of the years. Therefore, it becomes quite important to plan everything accordingly before it’s too late. Going through this article will give you a brief idea about managing your finances.

Be optimistic regarding your finances

According to a report released by an esteemed organization, it has been found that millennial, the oldest of the people who are just arriving their 30s, generally face a higher amount of student loans in comparison to the previous generations in the same age group. Moreover, their unemployment level and income contrastingly lower than the previous generations. This makes the latter feel more optimistic about their financial stability in the future. To help you being optimistic here are some important tips given below. Hopefully, they will help you secure your future from the havocs of paying off for loans and other financial plannings.

Savings – Make it a thumb rule

Whenever it’s possible, save. Creating an emergency fund will not only help you a great deal when fighting unexpected debts, but also prevents you from depending on credit cards loans. Do remember that lack of savings can lead you to get debts. However, when you have an emergency fund, it acts as a cushion that protects you from forthcoming and unseen financial ordeals. This is why, every responsible homeowner should add to his or her savings, whenever it’s possible. A small step now can help you take a giant leap in the future. So, it better to get prepared from the beginning, rather than repenting later on.

Credit scores mean a lot

Your credit score represents your credibility. This is why, it is very crucial for everyone to maintain a good credit score. For people looking forward to significant career move, a good credit score is like blessing for them. The reason – employers tend to hire only those candidates who have excellent credit scores. In many cases, good credit reports add to the marketability of the job seekers. So, you need to pay your attention to this. You can achieve a good credit score by paying off your personal installment loans on time. That’s it. If you default, it means that you are opening a gateway for financial and physiological troubles for yourself and your family.

An expert advice always counts

There are many people, who find it hard or confusing to manage their finances. If you also face similar problems, then you can always seek an expert from a professional financial manager. Yes, they charge fees, but paying their service charges is much for affordable and sensible than paying off a fortune in the future against your loans. So, whenever you realize that you need help, feel free to get in touch with a professional and experienced financial manager. Think wisely and live peacefully.


What are the most Common Property Investment Mistakes?

Are you confused when it comes to the better use of your money?

Are you considering investing in a property?

Everyone wants to invest in real estate with the plain intention of getting profits at minimum risks. But not all properties are equal in terms of yielding a profit. If you question any property dealer, he would never tell you about the properties that may yield low incomes, solely to earn money. To get a good income from the property that you want your hard earned money to invest in, it’s necessary to grasp the fact that some properties may yield negative income contrary to the common belief that all properties are the great source of income. Once you decide to put your money into this, don’t back out, property investment is, after all, a profitable decision as long as you are smart in your decisions.

Property Investment

Under-developed properties:

Real estate properties that need development are the ones, subjected to higher risks. You may need to place extra money on the development or renovation of the property while not being absolutely positive about getting any positive cash flows from the concerned property in the future. Moreover, these properties are subjected to plug into value risks and similar alternative problems. Investment in such properties is suitable if you are not depending on the property for a steady source of income.

Foreign property:

If you are about to invest in a foreign property, then you need to rethink on your call. This is so because foreign properties are always at high risks. It is no secret that foreign countries have totally different laws that govern the real estate market. An unsteady situation in their economy will just add to the risk of financial loss.

Beach properties or vacation homes:

If you get a vacation home or a beach property, you have to take in all the probability up to say, ten or even twenty years from now, when you have overcome the initial profits. Is the property still in demand and worth putting your money into it? You must invest in a property that brings profits even after a considerable amount of time.

Hotels and condos:

Contrary to the belief condominiums and hotels or resorts are not always a profitable venture. One cannot predict the aptitude of the profit, rental values or even sales costs from these investments. What’s worse is that they can be very hard when it comes to a chance of reselling.

Properties with no possible income:

Individuals invest in real estate with the mindset that the properties can grow in worth. Investing in properties certainly comes with a chance. Properties that don’t yield any income are among the worst investments. The real estate market is dynamic in nature. The demand and the need for the properties keep changing.

When investing in real estate doesn’t meet your expectations, the money endowed into it is lost. To expect long-term positive results, one should rigorously invest in properties that are in demand. The real estate market is all about thorough research, up-to-date data, informed decisions and a little bit of luck.


Useful Debit Card Safety Tips

In today’s world, a debit card is a must. Even though debit and credit cards are often used synonymously, there’s a difference between them. A credit card would be issued to you against a certain amount of money in your term deposit account. A debit card, on the other hand, doesn’t require you to have a fixed deposit account.

If you use a debit card, you’ll have to pay the money later. In a way, using a debit card is like taking a loan. Almost every purchaser is the US has a debit card. Using debit card guarantees convenience and safety.

Useful Debit Card Safety Tips

However, we often forget that debit card safety is a vital issue. If you don’t know how to ensure the safety of your card, follow the tips below:

Check the terminal

cards are often being skimmed. To prevent this from happening, check the terminal first. If the terminal is chip-enabled, insert the card. If the terminal is not chip-enabled, swipe the card. If you don’t swipe, your card will not be skimmed. So by checking the terminal, you could avoid swiping unnecessarily.

 Beware of the liability policy

If a bank has zero liability policy, it means you will not be held accountable for any fraudulent charges or theft. But this policy holds only for signature debit card purchases. Signature debit cards are those which have the payer’s signature on them like MasterCard and Visa. If your debit card is not a zero liability card, money could be stolen from your account yet you won’t be able to do a thing. So check the card’s liability policy.

Don’t use the card

Sounds funny? Well, you need to understand when to use your card and when not to. For example, when you are buying something from the internet, it’s better not to use your debit card and use the credit card instead. First, you get better online security if your credit card is being used and secondly, online purchases may create a hold of a fund in your account. So use the debit card solely at your discretion.

Check balance statement

To ensure the safety of your debit card, check the balance statement frequently. If you use net banking, you could see your balance statement sitting at home. Review your bank statement every day and in case you find an anomaly, report it to the bank. If you report late, you may have to pay penalty.

By following the tips above, you could increase your card’s security. Other than following the tips, keep your card in a safe place and don’t ever share the PIN number with anyone. Many forget the basics; you shouldn’t make this mistake.


Some Helpful Auto Insurance Tips for Car Owners

Plenty of benefits come with auto insurance. Some of them are;

  • You will get compensation if your car is stolen or damaged.
  • Liability in case of injury.
  • You will get coverage in foreign countries (not all companies offer this facility).

Choosing an auto insurance is not easy. All insurance firms offer auto insurance. Insurance companies are plenty in number and they place their offer with eye-catching punchlines and over the top claims. It becomes difficult for customers to decide on a particular auto insurance policy.

Auto Insurance Basics

To choose an auto insurance, customers need to follow some tips. Those tips are below;

Compare rates

For the lower premium rate, you need to compare rates offered by different insurance companies. At the same time, you need to compare the total coverage. Consistency is most important when comparing one insurance company with the other. The amount, type of insurance and the total coverage are all important. Also, make sure the company in question is financially stable.

Ask for discounts

Insurance companies offer discounts. So don’t forget to ask your agent. Remember, the only reason discounts are being offered is the company acknowledging you a better risk. Discounts are given so you could buy multiple vehicles, anti-theft devices, attend driver education courses and recruit an efficient driver.

Safety is important

Your safety record can help reduce the car insurance payment. So drive with caution. If you don’t have an excellent driving record, get enrolled in a driver safety course. What type of car you use is another determining factor. If any member of your family has a good driving record, you could expect low premium rate and save money on auto insurance.

Optional coverage

Check if the company offers collision and comprehensive coverages. Collision coverage compensates in case of physical injury if the car hits a tree or another car. Comprehensive coverage, on the other hand, pays the owner if the vehicle is damaged by vandalism, weather situation or fire. Both are optional but comprehensive coverage is more expensive compared to collision coverage.

Select a high deductible plan

According to experts, car owners can save money by upping the deductible cap to $500 from $200. This would enable them to save 15 to 30% on collision and comprehensive coverages. If the owner goes for $1000 deductible, he could save 40% or even more. However, while going for a high deductible plan, the owner must have active savings account for situations where money could be needed urgently.

By following the above tips, you could save money on auto insurance. So follow these tips and be totally worry-free.