Retiring Wealthy is the most desired aspects of Retirement Planning. Thanks to the advances in modern science, the average life expectancy is continuously increasing. Changing trends show that the non-working life of an individual can be longer than his working life. With increasingly stressful life every one wants to retire early but this requires right planning.
For a 25 year old who needs Rs.30000 per month today to run his household would require Rs. 1.28 lacs per month after 25 years if inflation is assumed at 6%. This comes to Rs.15.45 lacs per annum. Now if one assumes to earn 10% return post retirement, he needs Rs.1.55 crores just to meet his monthly household expenses.
Monthly Expense: Rs. 30000/- Rate of Inflation:6% No of yrs for retirement: 25 Future Value:Rs. 1.28 lacs
You need to plan for retirement because:
* Traditional avenue of savings are not sufficient to meet retirement expenses.
* Rising cost of living.
* With higher life expectancy you need to provide for around 30 years of your retired life.
* Not all of us are covered under pension schemes.
* No social security system in India like in the USA.
Start Investing Today
Start Investing Today - A liitle can go a long way
Systematic Investment Plan
What is an SIP?
SIP means Systematic Investment Plan. This is one of the more effective investment strategy for accumulating wealth in a disciplined manner over a long period. A specific amount will be invested for a chosen period at regular intervals.
For example, if an investor wants to invest Rs 12000 and makes a one-time investment at an NAV of Rs 15, 800 (12,000/15) units will be allotted.
In the case of an SIP, the investor distributes Rs 12,000 over a year and invests Rs 1,000 every month. The amount will be invested at different levels of NAV, as market conditions and level of indices keep changing on a day-to-day basis. The investment in 12 installments will get averaged at different NAVs in an automatic manner without the investor timing the entry point.
Systematic Investment Plan
What is an SIP?
SIP means Systematic Investment Plan. This is one of the more effective investment strategy for accumulating wealth in a disciplined manner over a long period. A specific amount will be invested for a chosen period at regular intervals.
For example, if an investor wants to invest Rs 12000 and makes a one-time investment at an NAV of Rs 15, 800 (12,000/15) units will be allotted.
In the case of an SIP, the investor distributes Rs 12,000 over a year and invests Rs 1,000 every month. The amount will be invested at different levels of NAV, as market conditions and level of indices keep changing on a day-to-day basis. The investment in 12 installments will get averaged at different NAVs in an automatic manner without the investor timing the entry point.
Protection Plan Term Insurance Plan Life Insurance Cover Medical Cover
Protection Plan - Financial Uncertainities of Life
Financial Uncertainties of Life -
Like game of cricket, human life is also full of glorious uncertainties. Financial uncertainties is one of the uncertainties of life. Financial uncertainties, loss of income may dawn upon you or your family in case of -
Untimely demise or
Critical illness or
Accidental Disability
Protection Plan Need -
Safeguard your family’s financial independence and sustenance against uncertainties - Protection Plans help you shield your family from uncertainties in life due to financial losses in terms of loss of income that may dawn upon them in case of your untimely demise or critical illness. Securing the future of one’s family is one of the most important goals of life. Protection Plans go a long way in ensuring your family’s financial independence in the event of your unfortunate demise or critical illness. They are all the more important if you are the chief wage earner in your family. No matter how much you have saved or invested over the years, sudden eventualities, such as death or critical illness, always tend to affect your family financially apart from the huge emotional loss.
Financial cushion in case of an eventuality - Critical Illness can strike anyone. Today with advancement in medical science it is possible to survive a critical illness. Expenses on survival with a critical illness can be very high. Critical care plan provides for a lump sum payment on survival post diagnosis of a critical illness, so that in the event a critical illness strikes, you don’t have to dig into those precious savings of yours.
Protection Plans -
Term Insurance Plan - Pure life cover plan with no investment component. High cover at a very nominal cost. This plan is designed to help secure your family’s financial needs in case of uncertainties. The plan does this by providing a lump sum to the family of the life assured in case of death of the life assured during the term of the contract. One can choose the lump sum that would replace the income lost to one’s family in the unfortunate event of one’s death. This helps your family to maintain their financial independence, even when you are not around
Medical Insurance Plan - This plan provides cover for the medical expenses, so that you do not have to big into your savings and / or investments. This cover is useful when the individual recovers from illness in short period of time and is able to start working / earning again soon. This plan is useful when the loss of income is not pro-longed
Critical Care Plan - This plan provides valuable financial protection on survival post diagnosis of critical illnesses or disability. This cover is useful when the recovery process, from critical illness or disability, is prolonged and there is loss of income for long period of time. Lump sum benefit payment paid irrespective of medical expenses. The policy continues even after the benefit payment paid on selected illness
Suggest you to do the following reviews -
Life Insurance Cover - Review your existing savings, assets and life cover. Is the existing life cover sufficient to compensate your earnings and cover your financial liabilities
Medical Cover - Is your office medical cover sufficient to cover the medical expenses for you & your family
Critical Care Cover - Do you have critical care cover to compensate for financial loss because of serious illness which results in pro-longed period of loss of earnings
Financial Uncertainties of Life -
Like game of cricket, human life is also full of glorious uncertainties. Financial uncertainties is one of the uncertainties of life. Financial uncertainties, loss of income may dawn upon you or your family in case of -
Untimely demise or
Critical illness or
Accidental Disability
Protection Plan Need -
Safeguard your family’s financial independence and sustenance against uncertainties - Protection Plans help you shield your family from uncertainties in life due to financial losses in terms of loss of income that may dawn upon them in case of your untimely demise or critical illness. Securing the future of one’s family is one of the most important goals of life. Protection Plans go a long way in ensuring your family’s financial independence in the event of your unfortunate demise or critical illness. They are all the more important if you are the chief wage earner in your family. No matter how much you have saved or invested over the years, sudden eventualities, such as death or critical illness, always tend to affect your family financially apart from the huge emotional loss.
Financial cushion in case of an eventuality - Critical Illness can strike anyone. Today with advancement in medical science it is possible to survive a critical illness. Expenses on survival with a critical illness can be very high. Critical care plan provides for a lump sum payment on survival post diagnosis of a critical illness, so that in the event a critical illness strikes, you don’t have to dig into those precious savings of yours.
Protection Plans -
Term Insurance Plan - Pure life cover plan with no investment component. High cover at a very nominal cost. This plan is designed to help secure your family’s financial needs in case of uncertainties. The plan does this by providing a lump sum to the family of the life assured in case of death of the life assured during the term of the contract. One can choose the lump sum that would replace the income lost to one’s family in the unfortunate event of one’s death. This helps your family to maintain their financial independence, even when you are not around
Medical Insurance Plan - This plan provides cover for the medical expenses, so that you do not have to big into your savings and / or investments. This cover is useful when the individual recovers from illness in short period of time and is able to start working / earning again soon. This plan is useful when the loss of income is not pro-longed
Critical Care Plan - This plan provides valuable financial protection on survival post diagnosis of critical illnesses or disability. This cover is useful when the recovery process, from critical illness or disability, is prolonged and there is loss of income for long period of time. Lump sum benefit payment paid irrespective of medical expenses. The policy continues even after the benefit payment paid on selected illness
Suggest you to do the following reviews -
Life Insurance Cover - Review your existing savings, assets and life cover. Is the existing life cover sufficient to compensate your earnings and cover your financial liabilities
Medical Cover - Is your office medical cover sufficient to cover the medical expenses for you & your family
Critical Care Cover - Do you have critical care cover to compensate for financial loss because of serious illness which results in pro-longed period of loss of earnings
New Janaraksha Plan
New Janaraksha Plan is an Endowment Assurance plan that provides financial protection against death throughout the term of plan. It provides full life insurance for 3 years even when the premiums are not paid. New Janaraksha Plan (with Profits) is specially designed for people with irregular income and whose job is not secure due to fluctuating income, i.e. Workers with unorganized sector, Daily wage earners, Call Center Employees, Farmers, Small businessman etc.
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