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March 2021

Insurance

Questions To Ask Before Buying A Child Insurance Plan

by Abram Jayce on

There is nothing more rewarding than seeing your child succeed in their career. What is even more rewarding is to feel good about the fact that you could contribute financially in their journey to achieve success. More and more parents are becoming aware of the importance of investing in a child insurance plan. A child plan is an investment as well as insurance that secures your child’s future. These plans provide you the flexibility to invest in your child’s future based on your financial status. However, given the plethora of options to choose from, it is not unusual to get overwhelmed. Here are a few questions to ask before buying a child plan.

  • What are you saving for?

This is a good question to ask yourself before you start saving. Are you planning on saving for your child’s bachelor’s degree or master’s as well? Would you want your child to study overseas? All these questions are important while investing in a child insurance plan since it may give you multiple policy options to choose from.

  • When to start planning?

The sooner you start investing in a child plan the better. Start right after your child is born. It will give you more time to save enough money.

  • What should the tenure of the plan be?

The minimum maturity period for a child insurance plan should be at least 10 years. There is no shortage of short-term plans, but you may be faced with a cash crunch. The bottom line is that the tenure of your plan should depend on the age of your child when you begin saving.

  • Will you be allowed partial withdrawals?

You never know when you may need the funds. The ability for partial withdrawals can come in handy for unconventional educational expenses.

  • Does your policy include a premium waiver?

In case of the policy holder’s demise, the outstanding premiums are waived the nominee gets a lump sum amount after the maturity period. These benefits come in handy in case of unfortunate emergencies.

  • Will it help you save taxes?

The premiums you pay for a child insurance plan are eligible for tax exemptions under Section 10D of the Income Tax Act, 1961.

A child insurance plan is a great financial asset for your child and your family. Ask these questions before buying a policy and you will be just fine.

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Finance

Are Endowment Plans the Same as Money-Back Plans?

by Abram Jayce on

While considering their financial plans, people are on the lookout for suitable savings plans that will help them meet their long-term or short-term goals. A life insurance savings plan, such as an endowment plan or a money-back life insurance plan is considered to be quite useful since they both offer savings along with a comprehensive life cover. Both, endowment and money-back plans, have some similarities in their benefits and returns, leading to customers getting confused between them. This confusion may result in the purchase of the incorrect policy. Hence, let’s understand in depth what exactly these policies entail.

What are Endowment plans?

An endowment plan is the insurance policy designed to pay a lump-sum amount after a specific period in the event of the policyholder’s death or on maturity. An endowment plan is essential for investors who wish to meet their long-term financial goals. Those who plan for future financial expenditures like their child’s marriage or a retirement plan should opt for the endowment plan. Endowment plans have higher premiums but will provide you with a guaranteed amount once the policy’s tenure is over. These plans provide the policyholder with the benefit of both insurance coverage and savings.

What are Money-Back plans?

A money-back plan is a life insurance policy that pays a specific percentage of the sum assured at periodic intervals throughout the policy term instead of the complete amount on maturity or as a death benefit. A money-back plan is an endowment plan which offers liquidity and hence, can also be referred to as a short term endowment plan. Individuals who wish to get insurance coverage and payouts at regular intervals to meet their immediate financial goals should choose a money-back plan. This plan is quite beneficial for taking care of financial emergencies that may emerge during a plan’s tenure. Money-back plans are helpful for those who are nearing retirement, as these plans provide a steady flow of income even after the individual has retired.

Similarities between an Endowment Plan and Money-Back Plan

Endowment plans and money-back plans both are life insurance savings plans and provide the policyholder with death benefits as well as maturity benefits. Individuals can use both these plans as insurance-cum-investment plans. Both the plans have high premiums because of their extensive features, and the investments made through these plans do not depend on the market’s performance.

This makes endowment plans and money-back plans a good choice for those seeking guaranteed financial returns.

Differences between Money-Back Plans and the Endowment Plans

While money-back policies and endowment policies are essentially savings plans, there are a few differences that should be noted:

Money-Back Plans Endowment Plans
Provides a regular flow of income to meet immediate needs and short-term financial goals. Ideal as a savings plan to meet long-term financial goals such as retirement, child’s marriage, etc.
You get a percentage of the sum assured at regular intervals throughout the policy term. The remaining sum assured and bonuses (if applicable) are paid on maturity. The predetermined sum assured as well as the bonuses (if applicable) are paid on maturity, if the policyholder survives the term.,
The average tenure of a money-back plan is 5-25 years. The average tenure of an endowment plan is 10-35 years.
It cannot be used to get a loan since part of the sum assured is deducted during the policy term. An endowment plan can be used as security against a loan.

Knowing the differences between the two types of savings plans helps when you are looking for ideal insurance-cum-saving schemes in India. The choice between an endowment plan and a money-back policy mainly depends on your investment objectives and how you want to fulfil them.

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Trading

Try Trading with OrbitGTM and You Will not be disappointed

by Abram Jayce on

Nowadays, the internet is filled with advertisements of so many online trading brokerages that are claiming to be providing the best services, benefits, bonuses, and profits. However, being in the online trading business for a decade, I know that most of the claims made by these brokerages are not even half-true. However, I felt compelled that I should use my experience and tell you about OrbitGTM that is fast-pacing and growing online brokerage. So I’ll try and share as much information as I can in this OrbitGTM review so you know why it is one of the leading brokerages in the industry.

Wide Range of Online Trading Instruments

In the online trading industry, you would notice that most of the brokerages offer only a single trading instrument. This shows how capable, proficient, and experienced the teams at such brokerages are that they can only manage one instrument at a time.

On the other hand, OrbitGTM has taken the challenge and conquered all major trading instruments in the industry that include stocks, indices, bonds, cryptocurrencies, commodities, and forex trades. Once you have an account at OrbitGTM, you can discuss each instrument with your account manager at OrbitGTM and then proceed with the instrument you believe would be your deal.

List of Trading Accounts

OrbitGTM does not believe in letting you perform trades without any help or support from their trading experts and analysts. There are currently six trading accounts offered by OrbitGTM, each catering different level of trading experiences. The least experienced trading account is dubbed as “Bronze” and the minimum deposit requirement for the account is €500.

Apart from Bronze, there are other trading accounts such as Silver, Gold, Platinum, Diamond, and VIP. If you choose to go with VIP, then it is recommended that you have an ample amount of experience in trading to back you up.

Benefits of Trading with OrbitGTM

If you choose to trade with OrbitGTM, then the teams at brokerage ensure that you are provided with support such as weekly trading sessions, personal education sessions, full access to education center, savings account, personal account manager, and much more.

Your trading profile is linked with an account manager who ensures that you are provided with up-to-date information regarding trades and with the best trading advice.

Education Center at OrbitGTM

At OrbitGTM, it is not just about helping you trade and make profits, but it is way more than that. OrbitGTM offers you with an entire education center where you get to learn about trades, markets, assets, daily happenings, and much more. All the content has been arranged so you can perform trades as well as learn from the online trading industry.

Some of the major elements in the education center provided by OrbitGTM include learning videos, ebooks, and trader’s glossary. Apart from that, you are kept up-to-date with information such as daily market news, economic calendar, trading signals, ico-calendar, and trading charts.

Deposits and Withdrawals

OrbitGTM allows you to make a deposit as minimum as €500 that can be done either via credit/debit cards or bank wire transfer. These are the only methods that are offered by OrbitGTM as they are easy and simple to grasp.

As far as the withdrawals are concerned, the withdrawal you can make is for a minimum amount of €100 that can be requested using the same methods as the deposit. The withdrawal time can take up 7 working days in order to be verified, processed, and transferred to your preferred payment method.

KYC and AML Adherence

OrbitGTM pays strict attention to the personal identification information of the clients by keeping it up-to-date, which shows its adherence with Know-Your-Customer (KYC) regulation.

Similarly, OrbitGTM is adherent with the Anti-Money Laundering (AML) regulation as it keeps a track of every transaction flowing in and out of the platform. If it finds any transaction to be of high-risk with an element of criminal activities or terrorist funding, it reports them to the regulatory authorities.

Customer Support at OrbitGTM

The customer support at OrbitGTM is highly professional, friendly, empathetic, and competent. These individuals have gone through extensive trainings and workshops to ensure that they fully understand the perspective of the clients when they approach them with any concern and solve them in the most efficient manner.

If at any time you feel like getting in touch with them regarding any query or concern, you can get in touch with OrbitGTM’s 24/7 customer support without any hesitation.

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Investment

Axia Investments Review – Access to Hundreds of CFDs in One Place

by Abram Jayce on

Axia Investments Overview

Axia Investments is an online trading platform for which excellence is the essence of everything it does. Operated by Smarttool Trading SC Limited, a Seychelles investment firm, the brand is also authorized and regulated by the Financial Services Authority of Seychelles with license number SD034.

With an established track record, this CFD provider is currently relying on a rock-solid trading offer and several important values:

ØFierce professionalism – the broker has managed to develop a top-level trading arena where both beginners and experienced traders can find a broad range of efficient trading tools.

ØTrust& reliability – due to regulatory compliance, strong security mechanisms, segregation of funds, and other measures, this is a safe place to trade the financial markets.

ØAccuracy in offering – Axia Investments is well-known for providing customers with what they need and when they need it.

Axia Investments logo

Axia Investments Platforms

Considering it believes a platform needs to be easy, convenient, and fast enough to cope with the increased market volatility, AxiaTrader Web has been developed by the broker, promising both a wide range of trading tools and a user-friendly interface.

This is a web-based solution accessible for any person interested in the financial markets, offering customized alerts, various settings so each trader can customize it based on personal tastes, or financial news & economic calendar. Desktop, mobile, or tablet, this platform has no problem running smoothly, since it operates via browser without using a lot of hardware resources.

The same goes with AxiaTrader Mobile, a solution designed for both Android and iOS devices, integrating daily signals, charting suite, risk management tools, and real-time alerts. Lastly, Axia Investments offers support for MetaTrader 5, a platform that can be installed on any type of device. Thanks to advanced technical analysis and trading tools, superb performance, and EA compatibility, traders can experience the market in a different way, due to one of the most popular platforms in the industry.

Axia MT5

Axia Investments Markets

When it comes to diversified asset coverage, traders working with Axia Investments can take advantage of over 400 different CFD instruments. Currency pairs, indices, commodities, stocks, and other CFDs are now available, allowing a greater diversification capability. The maximum leverage is 1:400, although that will most apply to FX pairs only.

Spreads are also variable depending on the account type chosen. Ultimately, the broker does not charge any trading commission on selected assets, leaving overnight swaps as the only additional trading cost, applying when holding positions open for the next day.

All the assets covered by Axia Investments are from popular and liquid markets, the emphasis being on Western Europe and North America. London and New York are still the main financial centers of the world and the bulk of trading liquidity comes from those places.

Axia Investments Accounts

The Axia Investments account types selection was designed with the end-user in mind, aware that traders wanting to get involved have different objectives and available capital for trading. Getting started with a Bronze account is accessible, considering the initial deposit required is currently pegged at $250.  Traders choosing this option can benefit from standard trading spreads, daily market analysis, 40% stop-out level, and professional customer support.

An upgrade to either of the other 5 options available will unlock a broader range of trading features, including welcome bonus, trading signals, trading tools, and other premium services.

Axia Investments account types selection

Axia Investments Customer Support

Axia Investments claims to be always at the customer’s service, offering convenience via a suite of services designed to provide professional conditions. Traders wanting to get in touch with a representative have plenty of options available, including phone or email. The FAQs currently posted on the broker’s website provide fast access to some of the most common issues.

Also, it is important to note that starting with the Silver account, registered customers will benefit from the support provided by an account manager.

Axia Investments Bonuses and Promotions

At the time of writing, Axia Investments runs a welcome bonus promotion, offering bonuses ranging from 10% (Silver account) up to 25% (Diamond account). Terms and conditions apply as usual. On top of it, there is also an affiliates program. Axia Partners is a solution for traders wanting to generate extra income by bringing in new traders. The broker offers a broad range of tools, including professional banners & mailers, a dedicated account manager, and personalized assistance.

Axia Investments Premium Features

Rewarding customers who deposit the most funds in their trading accounts, Axia Investments is a place where premium features are also provided. Available mainly for Platinum and Diamond accounts, senior account manager, unlimited trading signals, both can take trading to a whole new different level.

Financial markets are increasingly challenging, and these resources can provide valuable insights, given there is a team of experts working at Axia Investments, ensuring traders can squeeze all the value offered by the features and tools currently available.

Pros and Cons

  • The option to choose between 5 different account types
  • Support for both proprietary trading software and the popular MetaTrader 5
  • Axia Investments offers competitive spreads on all 400+ CFDs available.
  • Silver accounts don’t get access to trading tools and long-term financial plan
  • The broker is mainly focused on the GCC countries
  • There is still room to expand the asset coverage.

Final Thoughts

Axia Investments proves to be a highly reliable and trusted trading brand, given it is authorized and regulated by the FSA, keeps customer funds in segregated accounts, and offers plenty of other security features. Trading CFDs at a time when there is increased market volatility is one of the optimal ways to take advantage of price fluctuations across the board.

The offer assembled by the broker is both competitive and in line with the latest market requirement. As of lately, MetaTrader 5 has been integrated into the platform offering, unlocking access to a popular trading software used by millions of traders worldwide.

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