Proper Insurance Management

You can get insurance coverage for all kinds of things: to reallocate lost holdings in the event of premature death (life insurance), to cover the costs of damage to your house (homeowners insurance), vehicle (car insurance), or even your new television or mobile or any other gadget (what we call gadget insurance). Health insurance is very important and standalone part of insurance. Insurance management should be an important part of our lifestyle.

From a fiscal view, the steps in mitigating these risks are straightforward:

1. Identify the risk
2. Determine how much of that risk you can take
3. Insure the rest of the risk

Identify the risk

What we do here is putting or evaluating the risk in terms of Rupees. For life insurance find the income that is to be replaced if the recipient of the income is to die. Always remember that life insurance is extremely important and most people realize the importance of a cash flow only after.

Determine how much you can bear

This step is very important because sometimes people spent too much on little risks and too little on bigger risks thus running themselves into financial troubles later on. The thing is that the market is paying you to take the risk. You have to calculate the way your premium amounts by determining how much of it goes to the administrative tasks of the insurance company, and how much of it towards your actual insurance coverage.

In life, we have to take on many, many risks, but until it remains a manageable amount to insure, nothing can bother you.

Insure the remainder

Since you determine your risks in terms of money, you can now decide which insurance policy to choose from. You are now insuring the remainder of the risk that is completely unmanageable by you but can be covered by a proper insurance company.

There are many good consultants out there that are experienced equity dealer as well as insurance managers. You can find the right one for yourself and seek their assistance for insurance management.

Being optimistic and realistic and at the same time is critical. For getting focused and motivated you have to always be optimistic about the outcomes of your dealings. But the optimism must be tied with realism. You have to smell the risk from afar and be realistic about its impact rather than being blindly optimistic about the risk miraculously disappearing.

You have to always keep track of the market and learn from it. Your decisions must be based on this constant learning. Never try to outguess the market. Outguessing the market may result in disaster. At the same time, you have to keep track of your costs. This record-keeping is critical when you are a share trader. This will help you in evaluating your growth at certain periods of time. Being an avid listener and reader is very important. This amounts to research procedure to share marketing. You have to keep your eyes and ears open to the market and it is just good as a constant basic research being done on the market.

The common habitual and behavioral traits of a successful entrepreneur and an equity dealer is the same. They stick to their virtues and adhere to their constant learning process.

My name is Arun from Kerala.Working as "Stock broker in Kochi" in Ravsan Wealth Planners. We are one of the top'Equity dealer'.