I would like to take this opportunity to share my
views on trend changing of financial planning in current scenarios due to
demonetization.
There are six options that people believe in
spending their money for investment.
Sr No.
|
Investment
Type
|
Trend before
demonetization
|
Trend after
demonetization
|
1
|
Buy Property – Apartments/Site
|
Up
|
Down
|
2
|
Buy Gold/Jewelry
|
Up
|
Down
|
3
|
Bank Deposits like Fixed Deposits
|
Moderate
|
Up
|
4
|
Buy Shares or trading in shares
|
Moderate
|
Moderate
|
5
|
Buy Bonds/NSC
|
Moderate
|
Moderate
|
6
|
Buying Life insurance
|
Down
|
Up (High In Demand)
|
In the above points, it clearly shows that people
are least bother about their life insurance.
Life Insurance – If I explain it to someone he/she feels headache.
People says about insurance in earlier days or few
people now as well:
- Waste of time
- Why should I think negative that something will happen to me?
- I do not need insurance because I am earning good salary.
- It gives least benefits in terms of return.
- And so on….
These are the few
thoughts that people were giving. In India currently only 18% people have done
their insurance. It includes correct and incorrect insurance.
Correct Insurance
means – People having their insurance as per their need and requirements.
Incorrect Insurance
means – People taking insurance blind folded, they do not choose plan as per
their future need but only to save income tax or his/her friend is taking so I
will also take it and so on….
As per my
experience, everyone must have Insurance from childhood to elder age. Nobody
knows sudden change in life, young people can affect with diseases like heart
attack, cancer, etc. Root cause of the diseases is stress in their life. Stress
would be due to office, personal problems etc.
So life insurance is very important, we need to think about our
dependents as well, their basic needs, and we need to be aware about our need
and a requirement before time passes away.
There are two very important things, we must have.
1. Life
Insurance
2. Preserve
Stem cells
I think people know about life insurance but very
few people know about the preserve of stem cells. There are lots of information
available on the internet. Why I included stem cells because now a days unexpected
diseases are coming into picture which can come without any notification. It
might be due to our life style, food habits, and stress in life. Its disturbing
out family financial conditions.
Umbilical Cord Blood Stem Cells
After child birth, the umbilical cord is considered
as a biological waste but it is the richest source of hematopoietic stem cells.
The umbilical cord stem cells are unique, pure and have the ability to renew
and repair other body cells.
Everyone should plan for life insurance, at least
term insurance. Term insurance is a basic need. We should include this in our
life.
All
life insurance companies in India have term plans in their bouquet of
offerings. The rates are also quite competitive. So it really does not matter
which company you take the cover from (IRDA has done a pretty good job at
regulating the insurance companies - all of them are safe). Based on your
comfort level with the sales person and the previous experience with the
company, you may choose to take your term plan.
Here
are reasons to prefer a term plan over other options:
What is a term plan?
Term plans are no
frills products that give us very high life covers for very low premiums. But
term plans do not give anything back at the end of the term (life cover period)
if you outlive it.
Why the term plan is
so important is because, it is the most basic of all plans.
Summary: In this
unpredictable life, let’s have the life insurance to secure finances for our
dear ones
We are a trusted
partner for Kotak Life Insurance. If you would like to know more on term plan
or any other life insurance plan, please contact or give us appointment to
explain you more.
We have two options,
either you become Life Insurance Agent where you have to do insurance on your
own pace/achieve targets or you become an Advisor you recruit others and make
your own team. For more details please contact us.
Sukhda
Ayurveda & Yoga
Kalyan
Nagar, Bengaluru
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