Planning for major financial commitments for small ,medium and high net-worth individuals , entrepreneurs and working professionals .
- Trusted
- Experienced
- Professional
Planning for major financial commitments for small ,medium and high net-worth individuals , entrepreneurs and working professionals .
When we think about the future, it’s often not top-of-mind to think about the possibility of our untimely death, or what will happen to our families in the event of our demise. While it may be uncomfortable to plan for it in advance, doing so can ensure a tragedy is not made more difficult than necessary.
Your family could be on solid financial footing now, but what if they lost your income? Would they be able to pay off the rest of your mortgage and stay afloat with daily living expenses?. This is when life insurance comes . It is very important to understand how much insurance a person need by doing capital need analysis exercise or human life value
Buying a health insurance policy for yourself and your family is important because medical care is expensive, especially in the private sector. Hospitalisation can burn a hole in your pocket and derail your finances. It will become even tough, if the person who brings in the money, is now in a hospital bed. All this can be avoided by just paying a small annual premium which would lessen your stress in case of medical emergencies. A good health insurance policy would usually cover expenses made towards doctor consultation fees, costs towards medical tests, ambulance charges, hospitalization costs and even post-hospitalization recovery costs to a certain extent.
Inflation always has an adverse effect on the market scenario. As the value of money decreases with inflation, it becomes very important to invest your money in the right sector. Money left un invested may lose its purchasing power as time passes.
It is very important to know where and how to invest and which channel would fetch the maximum profit.
Mutual Funds do not have any lock-in period. There is flexibility in tenure for which one wants to invest.