Your House Was Burgled When Traveling Abroad? Find Out How Travel Insurance Covers That Too

Your home becomes an easy target for burglars especially when you are away on an overseas trip. But did you know that the travel insurance you purchased for your overseas trip also insures your home against burglary when you are away?

Your House Was Burgled When Traveling Abroad? Find Out How Travel Insurance Covers That Too

Several insurance companies such as Bharti AXA GI are offering burglary cover under travel insurance policies. The policy basically states that if the home has undergone a theft or burglary whilst you were away on an overseas trip, the insurance company will have to compensate you as per the financial protection offered. This will typically cover the damage or loss as a result of the burglary.

However, there is a catch here. The home burglary will have a cap that will be defined in the policy. This means that the insurance company is only liable to pay the up to the maximum limit set under the travel policy burglary cover. For example, your home has been ransacked and you have experienced a loss or damage of several lakhs of rupees, but your insurance only covers you for Rs. 50, 000 as the maximum limit. Your insurance company will only make a payout of Rs. 50,000 in that case, regardless of the actual loss or damage that you may have incurred financially.

What are the Conditions that Requires Fulfilling at the Time of Settling the Claim?

If you have raised a claim against a burglary that occurred when you were away on a trip, then you are required to fulfill certain conditions. These include:

  • As soon as you become aware of the burglary, you must alert the insurance company who had issued the travel insurance policy and submit the required claim forms that have been duly filled out along with any supporting particulars.
  • You should fully co-operate with your insurance provider and any surveyor appointed by the same by assisting in all necessary investigations.
  • You must inform the police who has jurisdiction over the place of loss of the burglary through any formal means of communication. You can file an FIR once you are back from your travel and forward a copy of the same to the insurance company.
  • After you have reported the matter to your insurance company, you should follow the surveyor’s guidelines about the extent of usage of your property so as not to aggravate the loss any further than necessary.

What Documents are to be Submitted at the Time of Raising the Claim?

To expedite the process, you must have the following documents in place that should be submitted at the time or raising the claim:

  • A statement of claim must be submitted that should include complete information about the items lost during the theft or burglary along with its accurate or approximate value. Supporting documents of the items lost and their valuation may comprise of purchase bills. If bills are not available, the policyholder must furnish appropriate evidence to the insurance company that will help them to compute the cost of the items lost
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Benefits Of The Hong Kong Capital Investment Entrant Scheme

The Hong Kong Capital Investment Entrant Scheme was first launched in October 2003. The objective of the program is to allow reasonably well-off people to come to HK and take up residency without needing to join in or establish an operating business. The Scheme rules are reviewed by the Immigration Department on a regular basis.

To qualify for this capital investment visa, 10 Million Hong Kong Dollars is required to be invested in ‘qualifying investments’ (which does not include real estate).

The essential cut and thrust of the Capital Investment Entrant Scheme (“CIES”) means that if you invest HK $10 million cash into Hong Kong’s economy, you will be able to procure a visa to take up residence in the HKSAR.

Benefits Of The Hong Kong Capital Investment Entrant Scheme

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In the first instance you will secure a two-year period of stay which is then, subject to having maintained the 10 million HKD in the qualifying investments, extendable every two years for up to seven years. Once you get to 7 years continuous ordinary residence, you can apply for permanent residence.

Even if you have not in fact resided in Hong Kong in all of that time, but have maintained the visa status nonetheless, you will be able to secure ‘unconditional stay’ and in the process free up the HKD10m investment for deployment elsewhere. Namely, by then it will have served the process of procuring your residency in the HKSAR with no further strings attached.

One of the benefits under the Capital Investment Entrant Scheme program is that you are entitled to bring your immediate family along with you (i.e. your legal spouse and unmarried children under the age of 18 – who secure dependent visas,).

A condition precedent to CIES visa grant is that you must have owned the HK$10 million for at least two clear years prior to making your application. Moreover, it is a key part of the application process that you have further funds available to you, in addition to the 10 million HK dollars, that you can use to fund your lives in the HKSAR independent of the funds invested to get the visa.

Qualifying investments under the CIES program are financial investments only: since 2010, real estate no longer counts. These asset types are regularly reviewed and updated on the Hong Kong Immigration Department website – so you pay your money and take your choice!

The Capital Investment Entrant Scheme program is not without its critics. It has been argued that Hong Kong does not in fact benefit at all under the Scheme; that it has been founded on a fundamental misunderstanding of how the international balance of payments situation works and has raised a few eyebrows; that the net gain to the HKSAR is in fact nothing at all.

In any event, there’s no doubt, from an applicant’s perspective, the program has been extremely advantageous. For many years there simply was no opportunity to make a mere financial investment in the HKSAR and gain residency in the process. Instead, people …

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Glenn Sandler (CPA) of G.I. Tax Service Lists Tax Questions to Ask Your Accountant

A good CPA is invaluable when it comes to organizing your finances, and this is never truer than when it comes to the area of personal taxes. Here, Glenn Sandler, CPA founder of G.I. Tax Services lists five questions to ask your CPA that could provide substantial benefits for your finances well into the future.

Glenn Sandler (CPA) of G.I. Tax Service Lists Tax Questions to Ask Your Accountant
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What Information Do I Need to Keep?

In the world of taxes, paperwork is ubiquitous and keeping your head above water entails knowing exactly what documents you need to keep and which you can dispose of. Your accountant will let you know the difference between the two and will even serve as a reserve for your information. A clear picture of your financial information will help the CPA optimize the assessment statements provided to you.

How Can I Save More on My Taxes?

This is perhaps the question that is the most commonly asked of CPAs. Ultimately one of the most critical times of the year for an accountant is tax season, and they can help you leverage your situation to find numerous tax breaks. By speaking with your CPA, you will be able to find out if you qualify for any deductions or special credits and how you can claim them. On occasion, the accountant may also be able to find unique tax advantages based on your purchases and investments.

What Direct Business Expenses Can I Deduct?

In a business, several expenses are often incurred and more often than not, some of those expenses can be deducted when filing taxes. Ask your accountant which of your expenditures can be classified under business deductions. Usually, these deductions may be for costs of services that you’ve provided, equipment that was needed for your business, transportation costs, and others.

Is There Anything I Should Do to Increase My Savings?

One of the most important things to discuss with your CPA is how you can maximize the amount of money that you are putting away. By asking your accountant how you can increase your savings, you will most likely receive advice ranging from buying more efficient equipment to lower your electric costs, to the more financially related portfolio options you may want to become involved in. Savings can be interpreted as both those related to taxation as well as those related to fiscal planning. Your CPA will be able to help you with both.

How Can I Better Manage My Cash Flow?

A positive cash flow is essential for any business, and it is something that your accountant can certainly advise you on. By looking through the amount of money brought in and the amount that flows out, your CPA can analyze areas where you can improve or cut back spending. You may have overlooked a cash flow tendency and your accountant will be able to help you understand how to better manage these issues.…

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DiversyFund Looks at Long Term Investment Strategies

Long-term investments are the ones that cannot be easily liquidated at a moment’s notice or used for day-to-day expenses. The typical long-term investment is held for a year or more, sometimes with the expectation that the investment will never be sold. DiversyFund is a company dedicated to helping everyday people build wealth like the 1%. Below, DiversyFund’s founder and CEO, Craig Cecilio, shares more about long-term investments that offer diversification to your investment portfolio.

Investing in real estate is an excellent option for long-term investment.  The typical real estate investor purchases a property and holds it for an expected increase in value or rents it out using the rent to bolster his or her income.  Real estate that has been purchased through a retirement plan is also held for a longer period of time in order to realize a higher profit.

For those interested in investing in multifamily real estate, many investors end up buying into Real Estate Investment Trusts (REITs). Some firms pay out dividends, but DiversyFund has a different philosophy with their private REIT. “Instead of paying dividends, we focus on accelerating the growth of wealth by reinvesting the money. We focus on growth and taking advantage of compounding interest to build wealth over the foreseeable future,” stated Mr. Cecilio.

When done well, investing in real estate is one of the most profitable means to build wealth. You can benefit from tax deductions, appreciation of your asset and have a steadfast method of protecting yourself from inflation.

Investing in stocks is also an option for long-term investment.  Stocks have a tendency to fluctuate in value and the ability to bounce back from a drop in value provided that enough time has passed.  Investing in stocks is a popular path due to the quick pace of growth experienced by certain stocks.

Investments, whether they are in bonds, stocks, or real estate, can either go up in value or down in value.  An investor can guess what the behavior of a particular investment will be, but he or she cannot guarantee it.  Therefore, many investments perform better over time since they have an opportunity to weather any rough spots in their growth.

Inflation can have an adverse effect on long-term investments.  Every year, inflation eats a bit more into your money, taking away something that will be missed, but never replaced.  To counteract the adverse effects of inflation, an investor can choose long-term investments that target higher rates of return.

About: DiversyFund was founded to help everyday investors build wealth like the 1%. The company opens up real estate investing to the average person by breaking down traditional barriers to entry such as high minimum investments and unnecessary broker fees. Through their online platform, they are helping investors diversify their asset portfolio beyond stocks and bonds.

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Hiruy Amanuel on Global Economic Prospects: Why Invest in Africa’s Emerging Markets?

As Africa’s technological sector rises, companies and big businesses from all over the world are starting to pay attention. A lot of these tech hubs are rapidly developing and have created numerous job opportunities for Africans that have led to local technological advancement. Below, Hiruy Amanuel, the co-founder of Gebeya, looks at the global economic prospects of Africa’s emerging markets and why many are deciding to invest in these markets.

Hiruy Amanuel on Global Economic Prospects: Why Invest in Africa’s Emerging Markets?

Africa’s integration into the global economy has been occurring for the past decade and it has been occurring on an increasingly large scale. With a young workforce and an abundance of professional engineers trained within the IT sector, companies are looking to Africa not only to outsource but also to engage the talent locally and create startups within Africa. South Africa, Nigeria, Egypt and Ethiopia have all seen incremental strides in their emerging tech markets.

There are several companies which are ushering in the new global economic scale of Africa. Startups within Africa are promoting inclusion of IT professionals and the advancement of their education within the field. By investing in Africa’s tech ecosystem, there is an opportunity for global economic growth. Being a relatively untapped source of technological innovation, Africa presents a significant amount of new ideas as well as a large user base.

From the implantation of artificial intelligence in daily life to the use of mobile gaming, the emerging tech market in Africa is one of the hottest in the world. Companies like Google are paving the way for a deeply rooted technological core within Africa and are investing large amounts of capital as they see the potential for growth and development. Growth within these markets has created not only sustained economic progress for Africa’s GDP, but it has also created jobs for the engineers and developers that reside on the continent.

Deepening regional integration and increasing international trade has shown the global economy that Africa is becoming more powerful. African governments have improved tax policies and trade agreements that make foreign investors more eager to invest in businesses within Africa as well. Entrepreneurs in Africa are also making strides in promoting and adopting positive business practices and businesses on a global scale view the change to be one that is hand-in-hand with universal business values. This shift in attitude towards a more customer-centric value system has certainly helped African companies gain the interest of outside businesses wanting to work with them.

Africa has witnessed a strong insurgence of capital and new trade partners, and its emerging markets, especially in the tech sector, have seen exponential growth. Quality jobs have increased and more jobs are being produced daily as many more are being well educated within the engineering field. Moving forward into the future, Africa has put itself in a position to be a global giant in the IT-oriented world.

About Hiruy Amanuel:

He is an IT enthusiast and investor in Africa’s technological advancement. Based in Ethiopia, Hiruy Amanuel has been instrumental in the

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