Insurance is defined as an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium. Today’s market is full of such insurance products and is easy to buy, but which one to choose from? Our advisory services with a team of experts can suggest and guide our clients on the best choice of life insurance products that suit their specific requirements without any need to wander around searching for the information.
At Simfica, we provide consulting in the following sectors of insurance:

1. Life insurance is a financial product that pays out money either after the insured person is deceased or simply after a set period of time. This can used for various purposes as support extending from the relapse of lost income to paying off large debts.
Here are some important key points to consider before buying a life insurance policy:
• Coverage you need- assess the coverage you need to fulfill your family’s need in your absence, before choosing a life insurance policy.
• The frequency of premium- Almost all companies provide a wide range of payment methods (yearly, half yearly or quarterly). Choose what suits your best.
• Compare the policies- Always look around for more than one choice. Get as much information as you can about the policies.

2. Health Insurance is a type of insurance coverage that typically pays for medical, surgical, prescription drug expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly.
Key points to remember while investing in health insurance:
• Protection against a large number of critical illnesses
• Flexibility to choose your health cover
• No increase in premiums during the policy term even if your health condition changes
• Long policy term that covers you even in your old age
• Large hospital network for easy access to medical treatment

3. General insurance is typically defined as any insurance that is not determined to be life insurance. For the purpose of protecting the assets one holds against loss or destruction, general insurance products are bought as they provide protection against unforeseeable contingencies like damage and loss of the asset. Like life insurance, general insurance products come at a price in the form of premium.
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By definition, in finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. Simfica provides a large variety of options and consulting in the loan sector. Our major focus is to provide a loan that covers your requirement within a permissible financial limit.
Simfica covers the following sections in Loan:
• Personal Loan- is an amount of money you can borrow to use for a variety of purposes. Personal loans can be offered by banks, credit unions, or online lenders. The money you borrow must be repaid over time, typically with interest. A key feature of personal loan is its flexible. Thus, can be used to meet a variety of needs ranging from emergency medical expenses, expenditures such as weddings, etc.
• Home Loan- or home loan simply means a sum of money borrowed from a financial institution or bank to purchase a house. A form of credit that helps you buy, construct, renovate and extend a residential property without breaking your savings and investments. There are different kinds of home loans options that are made to suit each unique situation. You can take home loans to buy properties that are either commercial or personal in nature.
• Business Loan- is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. It is the primary unsecured type of funding, designed to meet the day-to-day business requirements of business owners or enterprises. Borrowers are not pressurized to submit any collateral or security to avail of an unsecured business loan.
• Car Loan- also known as an automobile loan, or auto loan, is a sum of money a consumer borrows in order to purchase a car. Generally speaking, a loan is an amount of money that is lent to an individual, a business, or another entity. One can opt for a new or used car loan depending upon the need and the kind of car requirement.
• Professional Loan- are loan facilities granted to working professionals like doctors, lawyers, chartered accountants, architects, etc. who are looking for funds to start their own practice or expand their trade. The professional loans, without pledging collateral, usually range from Rs 50,000 to Rs 50 lakhs. With collateral, the amount can even go up to Rs 2 crore.
• Loan Against Property (LAP) - is a secured loan that banks, housing finance companies, and NBFCs provide against residential or commercial property. These loans are usually offered at a lower interest rate. The loan is available against a self-occupied residential property, such as a house, apartment, flat, etc. It is also provided against rented residential properties. Available for both salaried and self-employed individuals, it comes with flexible tenure.
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Banking products are the facilities and services related to cash management, including treasury, depository, overdraft, credit/debit cards, electronic fund transfer, and other cash management arrangements. Our services also gives our clients a choice for banking services that is most beneficial to them as per their requirement. This also includes having more than one option to select from and compare between various variant services as per client’s needs.
Simfica provides consulting in the following sections of the banking products:
• Current Bank Account- also known as financial account is a type of deposit account maintained by individuals who carry out significantly higher number of transactions with banks on a regular basis. Current accounts also allows to make payments to creditors through the cheque facility offered by the bank. There are various types of Current bank accounts such as Premium, Standard, Foreign Currency, Packaged etc.
• Saving Bank Account- is a basic type of bank account that allows you to deposit money, keep it safe, and withdraw funds, all while earning interest. Savings accounts offered by most banks. There are various types of savings account such as Basic saving account, Salary account, Kids or Women saving account, Senior Citizen saving account, etc.
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A car loan (also known as an automobile loan, or auto loan) is a sum of money a consumer borrows in order to purchase a car. Generally speaking, a loan is an amount of money that is lent to an individual, a business, or another entity. One can opt for a new or used car loan depending upon the need and the kind of car requirement. Though, most people prefer a car loan over new cars and not second-hand ones. The car loan option in India, for a majority, is an alternative that lets them purchase a car that is better than the one available in their budget since the car loan approval is quick. Car loans in India generally provide a fixed rate of interest option while repayment through EMIs. This keeps you assured of a fixed repayable amount on a monthly basis towards the car loan, facilitating better budget planning without disturbing your usual expenses...
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A mutual fund is a company that pools money from many investors and invests the money in securities such as stocks, bonds, and short-term debt. The combined holdings of the mutual fund are known as its portfolio. Investors buy shares in mutual funds. Each share represents an investor’s part ownership in the fund and the income it generates. Types of mutual funds vary based on the Asset class, Structure and Risk.

Based on Asset class:
• Equity Funds- primarily invest in stocks, and hence go by the name of stock funds as well. They invest the money pooled in from various investors from diverse backgrounds into shares/stocks of different companies. The gains and losses associated with these funds depend solely on how the invested shares perform (price-hikes or price-drops) in the stock market.
• Debt Funds- invest primarily in fixed-income securities such as bonds, securities and treasury bills. They invest in various fixed income instruments such as Fixed Maturity Plans (FMPs), Gilt Funds, Liquid Funds, Short-Term Plans, Long-Term Bonds and Monthly Income Plans, among others.
• Money marketing funds- investors also invest in the money market, also known as capital market or cash market. The government runs it in association with banks, financial institutions and other corporations by issuing money market securities.
• Hybrid funds- (Balanced Funds) is an optimum mix of bonds and stocks, thereby bridging the gap between equity funds and debt funds. The ratio can either be variable or fixed.

Based on Structure:
• Open ended Funds- do not have any particular constraint such as a specific period or the number of units which can be traded. These funds allow investors to trade funds at their convenience and exit when required at the prevailing NAV (Net Asset Value).
• Closed ended Funds- the unit capital to invest is pre-defined. Meaning the fund company cannot sell more than the pre-agreed number of units. Some funds also come with a New Fund Offer (NFO) period; wherein there is a deadline to buy units.
• Interval Funds- have traits of both open-ended and closed-ended funds. These funds are open for purchase or redemption only during specific intervals (decided by the fund house) and closed the rest of the time.

Based on Risk:
• Very Low risk funds- Liquid funds and ultra-short-term funds are known for its low risk, and understandably their returns are also low. Investors choose this to fulfil their short-term financial goals and to keep their money safe through these funds.
• Low risk funds- In the event of rupee depreciation or unexpected national crisis, investors are unsure about investing in riskier funds. In such cases, fund managers recommend putting money in either one or a combination of liquid, ultra-short-term or arbitrage funds.
• Medium risk funds- the risk factor is of medium level as the fund manager invests a portion in debt and the rest in equity funds. The NAV is not that volatile, and the average returns could be 9-12%.
• High risk funds- Suitable for investors with no risk aversion and aiming for huge returns in the form of interest and dividends, high-risk mutual funds need active fund management. Regular performance reviews are mandatory as they are susceptible to market volatility.

Apart from these Mutual funds can also be classified as per the Investment goals. There are also some specialized mutual funds such as Index funds, Funds of funds, Global funds etc.

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Professional loans are loan facilities granted to working professionals like doctors, lawyers, chartered accountants, architects, etc. who are looking for funds to start their own practice or expand their trade. The professional loans, without pledging collateral, usually range from Rs 50,000 to Rs 50 lakhs. With collateral, the amount can even go up to Rs 2 crore. The repayment period can vary from a year to five, depending on the amount, interest rate, and the borrower’s repayment capacity...
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