6 replies on this article “Financial Planning”

1. Ashal Jauhari says:

   March 29, 2013 at 4:45 pm

   Dear Mahavir, for a second, step out from a customer’s mindset & think that you are an insurer. Now so many insurance plans were sold by your company & out of these, there are some claims. Some are genuine & some are problematic for the fact that there some hidden facts for health/family history, job profile, addictions….. Now ‘ll you allow to honor such problematic claims?

   Now interestingly more than 80% CSR indicates that majority of claims have been honored. So my take on CSR – If you are declaring your health, family history, job profile, addiction & other details honestly, the insurer can not decline claim later on on any such grounds.

   Disclosure – In my own case, Aviva loaded up my prem. by 3.5 times due to the risk involved in my job. I accepted the same & now I do know that if my death happens during my job at work place, insurer can not deny claim as it has accepted the higher prem. to cover the higher than normal risk on my life.

   Instead of offering any single name of insurer for your selection, I have tried to answer your query in general, so that you can make an informed choice on your own.

   Regarding MF v/s PPF, both are different things & fulfill different needs & hence can not be compared. Pick both for different needs.

   May I know, why do you want to opt for decreasing term cover at such a young age? Any specific reason?

   Thanks

   Ashal

   Reply
2. Ashal Jauhari says:

   March 28, 2013 at 6:33 pm

   Dear Mahavir, @ 4.25L Rs. yly income, your cover should be at least 65L Rs. @ 15 times multiple. I do not know what’s your current cover?

   Had you checked the shared link? If yes, what are your learning & queries from the link?

   Thanks

   Ashal

   Reply
   1. mahavir ambudkar says:

      March 29, 2013 at 3:29 pm

      Dear Ashal,

      I am planning to take a term plan but found that only few companies have claim settlement ratio above 90%. Can u suggest some online term plan. I am 25 years and looking for investment into MF or PPF. Which one do you prefer or shall i invest 50-50.

      A lot of articles suggest term plan + PPF is best instead of endowment plans.

      The shared link has good suggestions regarding investing in term plans.

      I have a query regarding decreasing term plans.

      Thanks
      Mahavir

      Reply
3. Ashal Jauhari says:

   March 28, 2013 at 10:57 am

   Dear Mahavir, please check the below link first.

   http://localhost/jagoforum2/finacial-planning-faqs/2782/

   Post your queries either in the shared link or here in your own discussion, after reading the shared one.

   Thanks

   Ashal

   Reply
   1. mahavir ambudkar says:

      March 28, 2013 at 2:17 pm

      Dear Ashal,

      Do i need to take a new term plan. Currently have one but is of small value.

      Please suggest.

      Reply
4. Free Financial Calculators says:

   March 28, 2013 at 10:19 am

   I suggest you open a PPF account in SBI and start a SIP in a balanced fund (HDFC balanced) in a portal like FundsIndia as quickly as possible and then read more on the subject.
   Investing must be aligned with goals. So list your goals and determine how much to save for each.

   You could use this quick guide for choosing a MF after you have learnt some basics

   http://freefincal.wordpress.com/step-by-step-guide-to-choosing-a-mutual-fund/

   Reply

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