With LIC launching two ULIP schemes in recent times, the flavor of the season seems to be ULIP. Agents are by and large not too keen to sell ULIPs. Having burnt their fingers earlier, this is understandable. However there is no need to put a blanket ban on selling ULIPs. ULIPs are complicated products. Selling… Continue reading ULIPs vs. Traditional: Whats the difference?
Very often we hear the term adequate insurance. What exactly does the term “adequate insurance” mean? Long ago Dr. Solomon Huebner developed the concept of Human Life Value (HLV). Dr. Huebner is considered as the father of insurance education. Continue reading after the two coloured boxes below … You are welcome to comment on this… Continue reading What is adequate insurance?
Recently I came across a case of a person who was insured for Rs. 5 lakhs. His annual income was Rs. 25 lakhs. He had no major savings, and most of his income was used to repay old debts. There was no other earning member in a family of 4 dependents. Continue reading after the… Continue reading Are you making this mistake?
The latest issue of The Financial Kaleidoscope the official Newsletter of National Securities Depository Limited (NSDL) is devoted to frauds in the financial sector. We bring you a synopsis of the same (for the full version please visit https://nsdl.co.in/publications/nest.php ). The newsletter is revealing in what it mentions and also what it does not mention.… Continue reading Frauds in the Financial Sector
All the time in our sales effort we try to look at selling an insurance policy in terms of the product, our company, our service and so on. To do so we put in great thought at how we should conduct our sales process, how we should handle objections that arise, etc. Rarely do we… Continue reading How does your customer take a buying decision?
It was reported in Mint (NPS Pension Payouts to become Flexible, 2 March 2020) that the Pension Fund Regulatory and Development Authority (PFRDA) is working on alternatives to the National Pension Scheme (NPS). Amongst the proposals being considered are to offer a Systematic Withdrawal Plan (SWP) and a Variable Annuity Plan (VAP). What do these… Continue reading Pension Payouts Cannot be Flexible
One of the most commonly held notions is that once a person owns a house and his or her children are securely settled in life, the only requirement left in old age is dhaal and roti (lentils and bread). This is far from the truth. In retirement too a person will have to spend money… Continue reading Retirement Planning – Its not only about Dhaal Roti
I am reproducing a typical advice by a financial advisor below. This appeared in Mint 27 February 2020. A Question Question by a reader of the newspaper: Currently my net worth is around Rs. 5 lakhs. I invest Rs. 3,000 each in Canara Robeco Emerging Equities, Aditya Birla Sun Life Frontline Equity, Kotak Mahindra Emerging… Continue reading Money Does not Grow on Trees
Retirement planning is not in the minds of the millennial or the younger persons. Life for them is just beginning and retirement is a long way off. You do not think of old age when are at the prime of your youth. And it is perfectly natural also. It is a natural thing for the… Continue reading Retirement Planning – Catch them Young
Inflation eats into the returns you get in low risk investments. All investment advisors will tell you this again and again. It has been told so often that all laymen accept it as the truth. Low Risk Investments are the Best Hedge Against Inflation The reality is however quite different – in fact it is… Continue reading Low Risk Investments and Inflation
