Investment or Insurance Advisor is Not Your Financial Planner
My friend’s mother-in-law is a widow; she is 75 years old. She sold one of her properties and put Rs. 67 Lakhs in Bank Fixed Deposit in Sr. Citizen Account, she used to run her expenses with the interest. A share sub-broker wrongly advised her to invest in shares; she was told that she can earn more than Bank Interest. She initially invested Rs. 20 Lakhs and made profits within 3 months and...
Read MoreLife Insurance Planning
The basic purpose of Life Insurance is to create Cash. By paying only one premium you can create an estate for your family. Once someone said that in other savings and investments there is ‘IF’ concept, e.g. consider a recurring deposit, IF you pay Rs. 10000/- p.m. for 60 months, IF interest rate is 9%, IF you pay for full term, then only you shall get Rs. 759898. But in case of Life...
Read MoreLife Insurance is neither a saving nor an investment
Human beings always search for security and it’s universal. The need for security varies from person to person but feeling of security comes from needs and wants. Sense of security gives us relief from fear and doubt. So civilization demands stabilization not only at present but also in future. If we see the history of insurance it has been about risk as traders used to sail ships and none of...
Read MoreA Goal Remains only a Goal Without a Plan
In many cases investors end up investing and planning haphazardly although they have goals, instead of working through a comprehensive plan. A comprehensive plan systematically eliminates the concerns and dangers that individuals, their families and their businesses face. A plan makes things happen. In our daily life we see people start investment without proper goals and a right plan. Financial...
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