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Category: MAM

  • OnePlus celebrates fur babies at Pawtraits 2.0

    OnePlus celebrates fur babies at Pawtraits 2.0

    Mumbai: Bridging the gap between technology and everyday joy, OnePlus, the global technology brand held Pawtraits 2.0 – capturing the beauty of canines and felines of Mumbai, India. This unique, photography-focused gathering enabled OnePlus users and pet lovers across the bustling metropolitan to capture beautiful, professional portraits of their powered by the 4th Gen Hasselblad Camera System for Mobile on the latest flagships – the OnePlus 12.

    With over 140 fur friends captured in professional portraits, Pawtraits 2.0 also provided a day filled with fun, camaraderie, and the shared love of pets. With multiple styles of photography and videography powered by the OnePlus 12, attendees enjoyed various activities, ensuring something for everyone and their beloved animals.

    “We are incredibly proud of the success of Pawtraits 2.0. This event showcased the OnePlus 12’s exceptional camera capabilities, highlighting our commitment to creating unique experiences for our ever-growing OnePlus Community.”,  said OnePlus India director of marketing Ishita Grover. “We have made immense strides with the 4th Gen Hasselblad Camera System, enabling our community to capture their beloved pets in breathtaking detail that mirrors professional photography. Each portrait tells a story, and we’re thrilled to help our users tell these stories through stunning portraits, that they will cherish forever.”

    At the heart of the Pawtraits 2.0’s success was the OnePlus 12, equipped with cutting-edge camera technology designed to capture every detail and emotion of the pets with unparalleled clarity and depth. The OnePlus 12 boasts a 50MP wide-angle camera complemented by the Sony LYT-808 sensor, ensuring every whisker and wag is caught in stunning detail.

    OnePlus’ latest advancements in the Hasselblad Portrait Mode have significantly elevated the photography experience, especially for capturing dynamic and expressive portraits of pets. Simulating the bokeh and flares of Hasselblad cameras equipped with XCD 30, 65, and 90V lenses, the OnePlus 12 provided an authentic depth of field, creating seamless transitions between the animal and the background, which was crucial when capturing pets in their spontaneous moments.

    OnePlus is committed to continuing its tradition of community-first events, and Pawtraits 2.0 has set a new benchmark for what is possible when technology meets passion.

  • Amit Sadh to be ambassador for youth empowerment initiatives with the STAIRS Foundation

    Amit Sadh to be ambassador for youth empowerment initiatives with the STAIRS Foundation

    Mumbai: Renowned actor Amit Sadh has announced his collaboration with STAIRS Foundation, marking a significant step towards youth empowerment and development in India.

    STAIRS Foundation, recognised as a leading national sports promotion organisation, stands as one of the largest grassroots sports and youth development organisations in both India and globally. With a commitment to fostering the potential of the nation’s youth, STAIRS has earned widespread acclaim for its impactful initiatives.

    Expressing his alignment with STAIRS’ mission, Amit Sadh stated, “My ideas, values, personal journey, and profound love for our nation resonate deeply with the vision of STAIRS and my friend Siddhartha Upadhyay.”

    Amit Sadh’s involvement commences with the upcoming STAIRS Youth National Games scheduled for this month. The event, set to kick off on April 27th in Delhi, will witness the convergence of thousands of talented young athletes from across the country. These games serve as a platform for over 5000 gold medalists selected from more than 460 districts nationwide to exhibit their skills, potentially paving the way for further opportunities in clubs, associations, and national representation.

    “This is just the beginning,” Amit Sadh emphasised, highlighting the ongoing efforts to fortify STAIRS’ foundational model with the unwavering support of the community. “Together, we aim to empower and uplift the youth of our nation, fostering self-reliance and strength.”

    Reflecting on this partnership, STAIRS Foundation founder and president Siddhartha Upadhyay said “We are honored and thrilled to welcome Amit Sadh as an Ambassador of true change for our foundation. Amit embodies the essence of strength and character, both on and off the screen, qualities that will undoubtedly inspire millions of young individuals across our nation. His profound commitment and firm demeanor resonate deeply with the mission of STAIRS Foundation—to empower the youth of India through sports and education. Amit’s journey and his dedication are a perfect match for our vision of nurturing talent and fostering self-reliance among India’s youth. Together, we are set to make a significant impact and drive forward the cause of youth development and empowerment.”

    Believing in the transformative power of unity and youth, Amit Sadh reiterated his faith in the collective potential to drive positive change. “I believe in our beloved India as a beacon of peace, dignity, and growth, echoing the vision of our honourable Prime Minister Sri Narendra Modi ji,” he declared.

    With this alliance between Amit Sadh and STAIRS Foundation, the stage is set for a transformative journey towards empowering India’s youth and building a brighter future for generations to come.

  • Saffola Soya celebrates Poila Boishakh with an interactive activation

    Saffola Soya celebrates Poila Boishakh with an interactive activation

    Mumbai: Kicking off the festive season with a playful twist, Saffola Soya from the house of Marico Ltd celebrates Poila Boishakh by launching a unique activation in Kolkata. Poila Boishakh is a vibrant celebration marked by the preparation of delectable authentic Bengali dishes. This year, Saffola Soya invited participants from Kolkata to experience the surprising softness of their product through a fun and interactive challenge.

    Saffola Soya invited popular Kolkata influencers to test the softness of Saffola Soya Chunks in a blindfold challenge. The influencers were blindfolded and were asked to identify Saffola Soya chunks through their sense of touch. The influencers were caught by surprise when they felt the softness of Saffola Soya Chunk. Following the blindfold challenge, the influencers were introduced to the versatile and protein-rich qualities of Saffola Soya Chunks. They were also invited to curate some of the most relished Poila Boishakh recipes with Saffola Soya Chunks.

    The interesting activation was then captured as a film, showcasing the influencers’ reactions and their creative use of soya chunks in traditional Bengali recipes, highlighting the product’s appeal and versatility. This was then amplified further across Instagram.

    The range of Bengali delicacies that are associated with Poila Boishakh is every foodie’s dream come true. As Saffola Soya Chunk is one of the most versatile ingredients with the perfect mix of taste and softness it has been popular ever since it was launched in Kolkata. It can be used to make cutlets, koftas, kebabs and a variety of snack dishes for every special festive meal. Saffola encourages you to be mindful of your food consumption with healthy controlled calories. Have a happy festive season!

  • Animeta & Technopak team up for ROI-driven influencer marketing

    Animeta & Technopak team up for ROI-driven influencer marketing

    Mumbai: Animeta and Technopak proudly announce their strategic collaboration, uniting Animeta’s tech-data-enabled influencer marketing prowess with Technopak’s three-decade-long expertise in management consulting within the Indian sub-continent. In this collaboration, Technopak will spearhead client acquisition efforts for Animeta Brandstar. Meanwhile, Animeta Brandstar will take charge of executing campaigns efficiently, ensuring optimal outcomes.

    Animeta Brandstar revolutionizes influencer marketing with advanced tech, empowering brands to run precise campaigns with ideal creators. Prioritizing ROI and performance metrics, it provides invaluable insights for refining influencer marketing strategies effectively. Essentially, Animeta combines advanced technology with managed services for holistic campaign planning, execution & tracking.  The ‘Animeta Verified Program’ ensures expert creator curation, enhancing video commerce skills. Streamlined processes include creator selection, production oversight, and seamless interaction with consumers using short-links and auto-chat tech. Integration with e-commerce platforms ensures smooth transactions and real-time performance assessment.

    Animeta founder Anish Mehta shared his excitement, “It’s all about right ‘Collabs’ in the Creator Economy. Partnering with Technopak, a top management consulting firm, is one such exciting ‘Collab’ for Animeta. Combining our tech-data platform with Technopak’s market expertise & access will enable us to provide impactful influencer marketing & creator commerce solutions to brands, while delivering tangible ROI for their investments through the creation of near-term sales & long-term value”.

    Founded on the philosophy of “concept to commissioning,” Technopak forms strategic partnerships with clients, aiding them in identifying high-value opportunities, overcoming critical challenges, and fostering robust, high-growth business models. Leveraging the collective expertise of over 85 professionals, Technopak specializes in consulting, M&A and marketing partnerships across sectors including retail, consumer products, fashion (textile and apparel), food services and sustainability.

    Technopak president & managing partner Saloni Nangia articulated her enthusiasm, “At Technopak, our core commitment is empowering businesses with innovative solutions driving growth & we’re on the constant lookout for progressively disruptive solutions which can create long-term business impact. Our collaboration with Animeta underscores this dedication, as we integrate Animeta’s advanced tech-data platform into our service offerings at Technopak. Together, we aim to deliver unparalleled value and measurable results across retail, consumer goods, fashion and services sectors.”

    The collaboration between Animeta and Technopak signifies a synergy of expertise and innovation, poised to drive substantial value and measurable outcomes for businesses across various industries.

  • Accenture launches Media Thrive Index for media and entertainment industry

    Accenture launches Media Thrive Index for media and entertainment industry

    Mumbai:  Accenture announced the launch of its Media Thrive Index to assess the impact of reinvention strategies on media and entertainment companies’ ability to succeed financially and strategically in an increasingly challenging industry.

    The Media Thrive Index is a response to the findings of Accenture’s third annual “Reinvent for Growth” global entertainment study, which surveyed 6,000 consumers across 10 countries including India about their media consumption behaviours. The study highlighted a complex landscape of challenges facing traditional media companies in which marginal strategies won’t restore them to economic or strategic health.

    “While the media industry is growing, the industry players are not. This essentially means that the value is shifting elsewhere. It is amply clear that incremental actions taken with a survivalist mentality will not help media companies thrive in the future,” said Neeraj Sharma, MD and Lead for Accenture’s Media industry in Growth Markets. “For media companies, the need of the hour is to place big bets, go where consumers want to be while exploring new avenues of growth, redefining new roles in the entertainment value chain, and tapping new sources of revenue.”

    The Media Thrive Index assessed 50 different strategic options for reinvention, identified from a range of initiatives launched by companies and Accenture’s strategic analysis. The assessment found most options so far are modest adjustments, which do not substantially alter a company’s economic profile. Only radical moves show a path for legacy media companies to secure the sound financial footing needed to thrive and sustain success.

    Caption: Accenture’s Media Thrive Index measures the extent to which a reinvention strategy positions a company to succeed by assessing its likely financial, growth, and strategic impact.

    Key findings from the study highlight some of the challenges facing media organizations:

    ●   Tired of Browsing – More than 35 per of consumers in India say they struggle to navigate between different entertainment services, apps and devices while 72 per cent say of recommended content does not match their interests.

    ●   Serial Churners – Nearly 65 per cent of consumers in India are cancelling and resubscribing to services based on the availability of desirable content. In 2023, 63 per cent of consumers in India cancelled more subscriptions than the previous year.

    ●   Shifting Preferences – Two-thirds of consumers in India consider user-generated content to be as entertaining as traditional forms of media. In all scenarios presented to consumers, such as “when I want something funny” or “when I want to relax,” social media and social video platforms were consistently picked over streaming video services as the media of choice.

    The study also found opportunities for media organisations to expand beyond traditional content offerings, including aggregation platforms and lifestyle bundles. A majority (89 per cent) of consumers in India said they would be inclined to use a single app to access all their digital services across both media and non-media categories. Additionally, Accenture projects lifestyle bundles to reach $3.5 trillion in consumer spending by 2030 with technology brands better positioned over traditional media brands to be the creators of these bundles.

    Research Methodology
    Accenture researched to gain an understanding of consumers’ preferences, beliefs and behaviours on their online entertainment experiences. The online survey of 6,000 consumers aged 18+ in 10 countries (Australia, Brazil, Canada, Germany, India, Italy, Japan, Spain, the U.K. and the U.S.) was designed to assess the impact of shifting media consumption habits on company strategies and offer suggestions for brands across the media spectrum to adapt their models to be more relevant and successful with customers. Fieldwork was conducted between November and December 2023. Oxford Economics assisted in developing the survey, carrying out fieldwork, analyzing the data, and deriving key insights.

  • “AET spends around 6-7 per cent of its revenue solely on R&D” Su Piow Ko

    “AET spends around 6-7 per cent of its revenue solely on R&D” Su Piow Ko

    Mumbai: In the realm of visual communication technology, AET Displays Ltd. Established in 2015 and later joining forces with the Guangda Group in 2019, AET has swiftly risen to prominence in the LED display manufacturing sector. Renowned for its precision engineering and unwavering commitment to research and development.

    AET has redefined industry standards with its cutting-edge displays. With a diverse portfolio spanning indoor and outdoor applications, cinema, and broadcasting, AET’s displays offer unparalleled clarity and vibrancy, captivating audiences worldwide.

    As a leader in fine pitch, MiniLED, and MicroLED technologies, AET continues to push boundaries and set new benchmarks, making it the preferred partner for businesses seeking visual excellence.

    Indiantelevision caught up with AET Displays Ltd vice president Su Piow Ko and talked about strategic evolution, market analysis and expansion strategy, embracing micro LED technology, R&D excellence and much more…

    On AET Display’s growth evolving in recent years, detailing major milestones and strategies employed for brand expansion

    Starting with how we stand in the market, it took us three years to design, manufacture, and enter the market. What makes us stand firm in the market? Well, our modern packaging technologies – COB Technology (Chip on Board), MIP Technology (Micro LED in Package) & QCOB technology as well as our exceptional R&D technologies set us apart from our major competitors. AET is now a Fully vertically Integrated supply chain with a major focus on Mini & Micro LED tech for now. No wonder AET is a place where brilliance meets innovation!

    On AET Display approaching the market analysis and identifying opportunities for growth and expansion within the fine-pitch LED display industry

    AET Display employs comprehensive market analysis, leveraging data-driven insights and industry expertise to identify trends, customer preferences, and emerging opportunities. This informs strategic decisions, enabling proactive steps in product development, market penetration, and competitive positioning within the fine-pitch LED display sector.

    On the new markets or regions that AET Display is targeting for expansion, and factors contributing to the selection of these markets

    AET Displays, a Fully vertical Integrated supply chain is targeting pan India for expansion, which does not only include metropolitan cities, but tier 2 & 3 cities as well. However, our major targets for 2024 are – Delhi, Bengaluru, Hyderabad, Ahmedabad, Pune & Lucknow. Notably, we had a partner event called ‘Envision Brilliance’ in Lucknow on 27th January, 24, which was a great success. India’s movement towards digital India as well as the transformation of the advertising industry, from simple billboards to active LEDs made us decide to go for the Indian market. Additionally, India being among the fastest-growing economies attracted our focus.  

    On AET Display positioning itself to leverage Micro LED technology and the advantages that micro LED offers over traditional LED displays

    As mentioned above, AET being the fully vertical Integrated supply chain is majorly targeting the Mini & Micro LED technology. AET has fully automated COB manufacturing, producing 5000 sqm/month. Our micro LED offers – enhanced brightness & contrast, energy efficiency, sustainability, faster response time, and many more.

    On the R&D efforts that AET Display is undertaking to advance micro LED technology and integrate it into its product lineup

    AET Display’s R&D efforts in Micro LED technology focus on enhancing display performance, optimizing manufacturing processes, and ensuring seamless integration into existing product lines. Notably, AET spends around 6-7 per cent of its revenue solely on R&D. Our current R&D technologies are listed below:

       2D/3D Nano Quantum Dot materials

       QD LED Chips

       Micro-LED Specialised Control ICs

       Driver ICs

       Embedded CPU Image Multiprocessing

       Micro Pitch LED Display Technology

    On the key priorities and objectives for AET Display in terms of continued growth and expansion in the coming years

    AET Display’s major focus is to bring modern LED technology to India alongside advancing R&D and implementing modern packaging solutions. We are majorly focused on providing our customers with superior after-sales support. By catering to India’s growing tech demand, and staying innovative, we aim to drive growth and expansion in the growing Indian market.

  • Alexa doubles time with kids: Animal sounds to folktales

    Alexa doubles time with kids: Animal sounds to folktales

    Mumbai: From listening to Indian folktales to playing animal sounds, Indian households with young kids who use Alexa at home are two times more engaged than other users. Parents of young kids take Alexa’s help in managing their day-to-day parenting tasks and keeping their kids engaged by asking Alexa for rhymes, stories, games, GK-related questions, and more. Users enjoy the ease and convenience of giving simple voice commands to Alexa in Hindi, English, and Hinglish – making the AI a great aid for parents and a companion for kids.

    Alexa’s ability to produce animal sounds through the Wild Planet skill recently helped save a 13-year-old girl and her 15-month-old niece from a monkey attack in Basti, Uttar Pradesh. By asking “Alexa, kutte ki awaz nikalo”, the girl was able to scare away the monkeys.

    “Parents often tell us how Alexa has become a companion in their parenting journeys. The option to access a number of useful kid-friendly experiences with simple voice commands makes Alexa a great addition for a family with young kids,” said Alexa Amazon India director and country manager Dilip R.S. “While it is a great learning and entertainment tool for kids, Alexa can help parents manage their day-to-day tasks better. Whether it is controlling smart home appliances with voice while juggling numerous tasks or asking for a bedtime story as part of their child’s daily routine, Alexa’s right there to help them.”

    Today, families across India are asking Alexa for information, games, quizzes, music, managing day-to-day tasks, stories, and much more. In fact, weekends are family time with Alexa – last year there was a 15 per cent increase in requests to Alexa over the weekends in requests for music with many of them being for kids’ music. The top five, most popular songs for kids on Alexa are Baby Shark, Lakdi Ki Kathi, Johnny Johnny Yes Papa, Wheels on the Bus, and Twinkle Twinkle Little Star. Indian folktales, like Akbar Birbal, Tenali Raman, and Panchatantra stories, see high interest from customers, especially in Hindi. In 2023, customers asked for these stories on an average of 34 times every hour.

    With numerous voice-first engaging experiences for kids, parents can introduce their children to Alexa smart speakers like Echo Dot or Echo Pop that are safe because of on-device privacy settings and control over personal data usage via the Alexa privacy hub.

    For young parents looking to introduce Alexa to their children, here are some things to try:

    ●  Improve kid’s listening skills and their attention span 
       Kids can listen to bedtime stories in both English and Hindi. Parents can just say, “Alexa, tell me a bedtime story”, “Alexa, open Amazon Storytime”, or “Alexa, बच्चों की कहानी सुनाओ”.

    ●  Engage and entertain them with kids’ music, animal sounds, and nursery rhymes 
       Parents can ask Alexa in English, Hindi, and Hinglish to play popular nursery rhymes including Baby Shark, Lakdi ki Kathi, Nani Teri Morni, and Twinkle Twinkle Little Star. From kids’ music to mainstream hits, parents can put up songs for their kids to dance, sing, and have fun at home.  Introduce them to animal sounds with Wild Planet by just asking, “Alexa, make lion sound” or “Alexa, शेर की आवाज सुनाओ”.

    ●  Encourage curiosity about the world by asking for information 
       Parents can nurture their children’s inquisitiveness by asking Alexa questions about history, science, general knowledge, geography, sports and more. Asking for information is as easy as saying, “Alexa, what is the capital of Spain?”, “Alexa, how far is the sun?” or “Alexa, how do I spell technology?”.

    ●  Make learning fun with conversational games and quizzes 
       Just say, “Alexa, open games for children” and choose from a range of games for kids including Animal Game, Chhota Bheem Adventures, Number Guessing Game, True or False, and more. By asking, “Alexa, open 1-2-3 Math” or “Alexa, teach me English”, parents can help kids apply mathematical concepts and hone their vocabulary and grammar.

  • V-Guard introduces ‘Arizo’: Next-gen melt-resistant eco wires

    V-Guard introduces ‘Arizo’: Next-gen melt-resistant eco wires

    Mumbai: V-Guard, electricals, electronics, and home appliances major, launches Arizo Wires, a path-breaking innovation in electrical wiring technology. Powered by advanced e-beam technology and boasting zero-halogen low-smoke properties, Arizo Wires heralds a new era in electrical safety and sustainability standards, offering consumers unparalleled peace of mind.

    As the Indian Housing Wires & Cables market continues to thrive, projected to reach a staggering 22 – 25,000 Cr (Rs) with a growth rate of 9 to 10 per cent, the demand for safer and eco-friendly solutions is on the rise. Arizo Wires, with its cutting-edge e-beam processing technique, promises to meet this demand head-on, offering a remarkable 75 per cent increase in current carrying capacity compared to conventional FR PVC wires. This advanced technology enhances both the electrical and physical strength of Arizo Wires, making them suitable for 90-degree C continuous operation.  As a result, Arizo Wires are highly heat-resistant, melt-resistant and fire retardant, and significantly reduce the risk of short circuits and fire hazards, thereby ensuring enhanced safety for homes and businesses.

    Furthermore, Arizo wires are crafted from lead-free and non-carcinogenic raw materials, complying with stringent ROHS and REACH standards, and therefore do not emit toxic gases from the insulation during fire accidents. This makes them not only eco-friendly but also a safe choice for consumers.

    With 99.97 per cent pure copper for superior conductivity, Arizo Wires adheres to national and international standards, including the prestigious Conformité Européenne certification (CE). Designed for utmost convenience and durability, Arizo Wires possess flexibility for better installation, while its moisture-defying armour ensures long-lasting performance regardless of weather conditions. Additionally, Arizo Wires are fortified against termites and rodents, further enhancing their longevity and resilience.

    V-Guard Industries Ltd director & COO Ramachandran V commented at the launch, “We are delighted to introduce Arizo Wires, the next frontier in electrical safety and sustainability. With Arizo, consumers can trust that they are investing in a product that not only prioritizes their safety but also contributes to a cleaner, greener future.”

    The launch of V-Guard Arizo Wires took place in a glittering ceremony at Taj Westend Bangalore, alongside two other advanced offerings – SUPERIO+ Eco Safe Wires and ELEGNA MCBs. This further strengthens V-Guard’s electrical portfolio and underscores its commitment to delivering high-quality products while prioritizing safety and sustainability.

  • The role of emotional branding in fostering customer loyalty

    The role of emotional branding in fostering customer loyalty

    Mumbai: In the world of marketing, where competition is fierce and consumer loyalty is paramount, brands strive to differentiate themselves in meaningful ways. While product quality and features are essential, the true power lies in emotional branding – a strategic approach that transcends mere transactions to foster deep connections with consumers.

    At the heart of emotional branding is the recognition that consumers are not just buying products; they are investing in experiences, identities, and aspirations. A brand becomes more than just a logo or a tagline; it becomes a symbol of trust, consistency, and aspiration.

    Consider the phenomenon of aspirational branding, where consumers are drawn to brands not only for their products but also for what they represent. These brands embody values, lifestyles, and ideals that consumers aspire to, creating a sense of belonging and identity.

    However, emotional branding is not without its challenges. As brands seek to forge emotional connections with consumers, they must navigate a delicate balance between authenticity and sensitivity. What resonates with one consumer may not resonate with another, and missteps can lead to backlash and loss of trust.

    Recent reports highlight the importance of authenticity in emotional branding, particularly concerning health-related claims. Brands must ensure that their messaging aligns with their values and resonates with their target audience without making false promises or misleading statements.

    A prime example of effective emotional branding is Airtel’s campaign, “Har ek friend zaroori hota hai” By tapping into the universal sentiment of friendship, Airtel forged an emotional connection with consumers, positioning itself as more than just a telecommunications provider but as a facilitator of meaningful connections.

    Similarly, Zed Black’s enduring tagline, “Prarthna Hogi Sweekar” strikes a chord with consumers by offering hope and reassurance. By focusing on the emotional significance of prayer rather than the features of their product, Zed Black cultivates a deep emotional bond with consumers, rooted in shared beliefs and values. This tagline has been part of the brand for 15 years now and is popular with consumers globally.

    Nike’s iconic slogan, “Just Do It,” exemplifies the power of emotional branding to evoke feelings of empowerment, confidence, and achievement. For decades, this simple yet powerful phrase has inspired millions to push beyond their limits and strive for greatness.

    In today’s increasingly crowded marketplace, emotional branding emerges as a powerful tool for brands to differentiate themselves and build lasting relationships with consumers. By authentically connecting with consumers on a deeper emotional level, brands can transcend mere products to become symbols of trust, inspiration, and aspiration.

    The effects of emotional branding might be intangible, and brands may use various resources to gauge their effectiveness with the consumer base. Surveys, sentiment analysis, and brand sentiment tracking provide much needed insights into consumers’ psyche, their emotional responses and perceptions of the brand. Additionally, measuring customer retention rates, repeat purchase behaviour, and brand advocacy can indicate the strength of emotional bonds and overall customer loyalty.

    As we navigate the ever-evolving landscape of retail, emotional branding will remain at the forefront of strategy, it is a philosophy that recognizes the profound impact of emotions on consumer behavior. By embracing authenticity, sensitivity, and empathy, brands can harness the power of emotional branding to create meaningful connections that endure beyond transactions and foster unwavering loyalty and trust.

    The article has been authored by Mysore Deep Perfumery House & Zed Black Agarbatti director Anshul Agrawal.

  • Reasons Why Term Plan is Important in India

    Reasons Why Term Plan is Important in India

    Introduction to Term Insurance

    When it comes to securing the future, we are often reminded to plan for unforeseen circumstances. While talking about making investments, things like mutual funds, fixed deposits, and the stock market emerge as top financial options, making us overlook something really important: term insurance. Term insurance is a simple yet powerful tool that holds the key to ensuring your loved ones’ financial security in case something unexpectedly happens to you.

    Think of it like this: You are a contributor towards your family expenses. Have you considered whether your family will be able to manage financially in case of your untimely death? This is when term insurance, with its straightforward promise, offers your family adequate financial support upon demise during the term policy period. Even with that fundamental knowledge, a lack of information and not being aware of the benefits of term insurance can influence your decision to buy one. So, make a smart choice and read further to know all about it.

    What are the Benefits of a Term Insurance Plan?

    Term insurance, in essence, is everything mentioned above. However, the following benefits will catalyse your decision to secure your family’s future with a robust term insurance plan:

    Simple: Term insurance is easy to understand; it is a straightforward life cover without any investment complexities. All you have to do is pay your premiums, and your life is covered for a set period, providing clear benefits for your family.

    Affordable: Even though it is remarkably affordable, term insurance offers substantial financial security for your loved ones. For instance, with as little as ₹500 per month, you can provide your family with a ₹1 crore life cover, ensuring they can manage regular expenses, settle debts, and maintain their lifestyle.

    Tax benefits: With term insurance, you can also enjoy tax benefits, ensuring not just financial security for your family but also savings for yourself throughout the process.

    Peace of mind: Term insurance is the best way to reassure yourself that in your absence, your family will have enough financial support to navigate any challenges that arise, offering you peace of mind and security.

    Financial Planning: None of us know what’s in the future. In the event of an untimely demise, relying solely on investments may not prove a wise decision, as they will not suffice to financially protect your family. A term plan, on the other hand, guarantees a substantial payout for considerably affordable annual premiums, ensuring your family’s financial security.

    Income Replacement: Term insurance acts as a vital income replacement tool, ensuring financial stability for your loved ones in your absence. It provides a reliable source of income to sustain their needs and lifestyle.

    Additional Riders to Strengthen the Policy: Term insurance plans often come with riders that you can choose to boost your basic insurance benefits. You can add them to your term plan by paying a nominal additional premium.

    Return of Premium Option: A pure-term insurance plan offers life cover to beneficiaries upon the insured’s death without providing any maturity benefit. However, you can opt for the return of premium option, which entails higher premiums, ensuring a refund of total premiums paid if you outlive the policy tenure.

    Please note: Taxes, levies, rider premiums, and modal amounts are excluded from the refunded premium.

    We hope this blog helps you understand why term insurance is important and brings an end to your contemplation of the benefits mentioned above. To know more, you can access an easy term guide and make a sound decision about buying term insurance for your family.