Help me to secure my future life with various financail products ?

POSTED BY charuprasanna ON March 26, 2014 8:20 pm COMMENTS (7)

I am 32 yrs female looking for securing the future. I am the only earning member with two 1 yr old kids. I have discontinued all the other insurances that I had before and looking for fresh plans in market. My employer provides good insurance amount but I am not sure how long I would work in the same field.  I can provide all details honestly while taking premium but looking for a hassle free settlement in case of any problem.

1. I am thinking of insuring myself for accidental insurance, critical illness coverage, physical disability insurance (abt 10-20 lakhs each). I do not want them as riders with other insurance policies. May I know which is good/best among the various insurance providers?

2. I am also thinking of Kotak e term insurance for a coverage of 1 cr (30 yrs term and I\’ve already check the eligibility for all the above mentioned insurance together with few insurance companies who say that I am). Pls suggest if there are better options.

3. Are riders  with term insurance a better option in my case?

4. I have zero investment/negligible bank balance as of now due to some financial crisis last year.

7 replies on this article “Help me to secure my future life with various financail products ?”

  1. ashalanshu says:

    Dear Charu, now the task is cut out for you. Either take help of fee only financial planner or go for DIY (Do it Yourself) mode. Yes DIY is demanding but certainly it’s rewarding too if you devote your time and energy.

    Thanks

    Ashal

  2. charuprasanna says:

    Viren, Thanks for the link. You did save my time and money by your timely response. The Financial Advisor I zeroed in was indeed a wrong one as per the link! My search started again.

    Divya, yes, I am looking forward for such a one-to-one meeting atleast for the first time. Thanks for the video gathering important basic points.

  3. ashalanshu says:

    Dear Charu, please post your comments after reading the link shared by dear Viren above (freefincal). Make sure your advisor does not take you and your money for a ride.

    Thanks

    Ashal

  4. divya.advisor says:

    I agree with ashalanshu you should discuss the details of your case in private with a financial advisor. forum is best for a generic query or a specific question but not for the full financial plan. For a single women and a mother there are lot of things to incorporate into the plan taking into considerations he family support etc…

    Here are basics that you can look at: http://youtu.be/MFWjhp_YNeI

    But meet an advisor near you soon preferably in a face to face meeting(could be a Google hangout). Phone emails I have seen do not work that well for the first meeting.

  5. Viren Phansalkar says:

    Hello,

    since you have decided to go for FP, you may want to read this:
    http://freefincal.com/what-you-need-to-know-before-hiring-a-financial-advisor/

    This would enable you to choose from the list of FPs. Moreover, you can mail to Pattu directly and get the list of FPs in your area as well.

  6. charuprasanna says:

    Thanks for the reply. I am getting a financial advisor to help me out in this after I read many jago investor articles and forums. Thanks!

  7. ashalanshu says:

    Dear Charu, please discuss the issue privately with dear Manish or hire a fee only planner for yourself. Why i’m saying so? a lot of personal info is required in your case to provide the solutions and this open forum may not be the right place for it.

    Thanks

    Ashal

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