Additional dependents, an increase in liabilities, a change in career and earning capacity and changes in the family conditions are some instances when you should re-assess your term plan needs.
Financial Planning helps in improving risk management, improve portfolio ROI, uses metrics to manage money, among other benefits.
Each transaction comes with some cost or the other. However, if you are willing to take some efforts you can reduce these costs
Critical illness cover helps on financial front in case of critical illness. If resources permit, one should buy a critical illness cover after buying a health insurance policy.
Financial Planning is concerned with quantitative planning, dealing with income, expenses, assets and liabilities of an individual. On the other hand, Financial Life Planning deals with both qualitative and quantitative aspects, and marries the â€˜life‘ aspect with the â€˜money‘ aspect.
Check the qualifications of the advisor, the quality of service, the time spent, his confidence, his approach to the planning process and his level of frankness when dealing with your finances. Do reference checks.
Student life is usually related to independence. However, this is also the time when an individual should learn more responsibility.
Travel insurance protects the policyholder for loss arising because of unforeseen events during travel. Coverage, extent of coverage, destination clauses, pre-existing health conditions coverage are some factors one should check before buying one such cover.
Women should actively participate in money matters of their family. Taking a step by step approach to deal with money will help them achieve their financial goals in life.
Securing your daughter's future is your responsibility. But you are not alone at the task. Various dedicated schemes floated by central government and state governments can be availed of, in addition to other savings options to build a kitty for your daughter.
Calendar year 2014 brought in changes like increase in FDI, changes in ULIP guidelines, insurance repository among others. Next five years can see double digit growth which will bring this sector to a new level.
Financial planning is as critical when one starts his career as it is later in life. Making goal based investments from the start, controlling expenses, buying sufficient life and health insurance cover, having an emergency corpus and understanding tax aspects are some areas which one should give importance to when he starts his career.
If insuring your family is your aim, it is better to opt for a pure online term policy which charges a lower premium. Other plans which have an investment component may be expensive
Teaching kids about money and the importance of taking wise financial decisions from a young age helps them appreciate this and take better financial decisions in life
Organizing all financial documents and keeping them in one place becomes critical to take further steps. This becomes all the more essential if you have till now not been involved in financial decisions of the family.
Drafting a Will is a critical part of Estate Planning. The presence of a Will reduces complexities for the legal heirs and also quickens the process.
Asset Allocation refers to apportionment of assets to different asset classes based on individual preferences, goals and risk profile.
Change of jobs, waiting period between job changes, desire to start your own venture, cost cutting initiatives by employer and retirement are reasons why a secondary health insurance can make a huge difference.
All policies cover the spouse and the dependent children of the policy holder. Oriental Insurance policy covers parents in laws too. Max Bupa policy does not specify of a ceiling in coverage on number of adults and children.