You must re-look at your life insurance needs regularly

Leave a missed Call on

94 8300 8300

Life is dynamic and keeps changing with time. As years roll by, marriage, kids, career, and other things change the scope of life in a manner we barely can predict or foresee. All these life-stage events have a direct bearing on the financial standing. It is only logical then to conclude that your life insurance requirements – something that is so closely associated with your life – needs constant revaluation. It is important that you carry out such reviews at regular intervals. A big plus of such reviews is that you can minimize the possibility of staying underinsured. Besides, constant life insurance reviews also ensure that your financial plan keeps up with the changing patterns of your life.

How can you go about doing a life insurance review

You are the best judge of your ever changing financial requirements and so it is advisable that you take a closer look at your insurance portfolio at least once every year. This way, you will stay clued in to the current status of your insurance plan and also be able to work out a roadmap for the future.

Let us see an example: You are married and already have some insurance policies with you. Now, if you are planning to have children, you might want to consider researching about policies that will help you fund your children's education and marriage. Accordingly, you can start setting aside funds to buy that particular policy after the birth of your baby. This way, a life insurance review coupled with foresight can help you add the right policy to your portfolio. It will not only maintain the sanctity of your financial plan but also prepare you for future expenses.

There may be occasions, when you find yourself in a fix while reviewing your financial goals and mapping them to your insurance portfolio. During such times, you can always reach out to an advisor or an insurance agent who will help you take the right decision.

With regular life insurance reviews, you can not only keep a tab on your insurance portfolio but also modify it to suit your growing monetary needs.

What you must keep in mind during a life insurance review

1. It's a known fact that financial commitments only increase with time. Be it children's expenses or healthcare-related costs, there is no end to mounting expenditures. However, if you review your life insurance requirements diligently, you will know how you can meet these expenses by simply increasing your life cover.

2. As financial responsibilities increase, the burden of debts goes up too. You may have taken a loan to buy a house or set up a business. Repaying these loans can take a toll on your finances and so you must learn how to work your way around it. You can upgrade your life insurance cover when debts are more and once you start reducing the debts, you can revise the insurance cover. This is only possible if you keep revisiting your insurance portfolio from time to time.

Just buying insurance policies is not enough. To be able to meet your financial objectives at various stages of life, you must review your insurance plan regularly. Remember, insurance will work for you only if you make it work for you.

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

Leave a missed Call on 94 8300 8300

Leave your comment with mail ID and we will answer them

You can write back to us at

PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest Mutual Funds Online

Invest Any Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

---------------------------------------------

Best Performing Mutual Funds

Largecap Funds Invest Online

DSP BlackRock Top 100 Fund

ICICI Prudential Focused Blue Chip Fund

Franklin India Bluechip

ICICI Prudential Top 100 Fund

B. Large and Midcap Funds Invest Online

ICICI Prudential Dynamic Plan

HDFC Top 200 Fund

UTI Dividend Yield Fund

Birla Sun Life Front Line Equity Fund

Franklin India Prima

C. Mid and SmallCap Funds Invest Online

Reliance Equity Opportunities Fund

DSP BlackRock Small & Midcap Fund

Sundaram Select Midcap

IDFC Premier Equity Fund

Birla Sun Life Dividend Yield Plus

SBI Emerging Businesses Fund

HDFC Mid-Cap Opportunities Fund

ICICI Prudential Discovery Fund

D. Small and MicroCap Funds Invest Online

DSP BlackRock MicroCap Fund
Franklin India Smaller Companies

E. Sector Funds Invest Online

Reliance Banking Fund

Reliance Banking Fund

ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

DSP BlackRock Tax Saver Fund

Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds Invest Online

Relaince Gold Savings Fund

ICICI Prudential Regular Gold Savings Fund

HDFC Gold Fund

Birla Sun Life Gold

H. International funds Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

Mutual Fund Review: Taurus Tax Shield

Taurus Tax Shield has seen a turnaround in performance since 2007, but still remains a volatile offering… The fund has seen a turnaround in its performance since 2007 and has delivered impressively during market rallies since then. The portfolio is also more diversified. It contained its downfall to an average level in 2008 but is still one of the most volatile offerings in this category. Bold investors can look at this fund. Strategy The fund manager invests across the market capitalisation and sectors. The selection of stocks is made on the basis of long-term business prospects and value creation. Fund Insight Launched in March 1996, the fund was a laggard with just two annual outperformances. Concentrated stock bets and high exposure to mid and small caps led to it being hit harder during market downturns. The number of stocks in the portfolio never exceeded 20 and it was not rare to see the top 5 holdings account for around 60 per cent of the portfolio. After b...

Use Mutual Fund SWPs for getting fixed payments

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India) Investors time withdrawals optimally to save on tax The systematic withdrawal plan, or SWP, could be called the lesser known cousin of the much talked about and publicised systematic investment plan (SIP). There's yet another cousin — the Systematic Transfer Plan ( STP ). In SIP, you invest a fixed sum of money at regular intervals (monthly/ quarterly) to buy some units of a mutual fund scheme. In SWP, as the name suggests, you do the opposite: You redeem some mutual fund units from your portfolio to get a fixed sum of money at regular intervals (monthly/quarterly/half year/yearly). In SIP, you get a higher numbers of units when the markets are down, and lesser in a buoyant market. In SWP, going by the product logic, you redeem higher number of units when the markets are do...

AXIS Long Term Equity Fund - The Best Tax Saver Fund for 2016

AXIS Long Term Equity Fund - Invest Online History: The open ended mutual fund was launched on December 21 in the year 2009. It is benchmarked against BSE 200 and managed by the fund manager JINESH GOPANI. Initially the scheme was called as Axis tax saver fund but later it was renamed as Axis long term equity fund with effect from September 2, 2011. Nature of investment: As far as asset allocation is concerned, 97.52% of the stocks are equity and 0.02% is debt based. The primary focus of the fund is to invest in diversified equity stocks that have higher growth potential. Total asset size of the fund is in the tune of 4,996 CRORE as of June 30, 2015. Performance: The performance of the fund for one year, 3 years and 5 years are 23.6%, 29.9% and 19.1 respectively which are far greater than 6.4%, 14% and 5.6% benchmark figures. It has also preformed fairly well against SBI magnum Tax Gain (G) and HDFC tax saver (G). The growth comparison is enumerated below; ...

Health insurance guide - Part I

Insurance, by definition, is morbid. What if I die suddenly? What if my home caught fire? What if I had to undergo expensive medical treatment? What if something that I thought happened only to others befell me? Insurers, who work with large samples, calculate the probability of such an event and, hence, the possibility of them having to pay out a sum of money to mitigate, to the extent possible, the effects of that disaster. However, the possibility of you undergoing some kind of expensive medical treatment during your lifetime is far more likely than you dying suddenly or your house burning down. Given that costs at private healthcare facilities, where you are most likely to land up, is high, and, doubling every four years 10 months or so, the rest of your money life could easily go out of whack if you had to incur such expenses. Just 12 per cent of India's population is covered with some sort of health insurance. Pared to the bone, for a comparatively small price, health insu...

IDFC Classic Equity Fund

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India) IDFC Classic Equity Fund IDFC Classic Equity is a large-cap equity fund which currently has assets under management worth Rs. 158.52 crore. It was launched in August 2005. The fund is benchmarked against the BSE-200 Index. Performance YTD 1-Year 3-Year 5-Year Since Inception IDFC Classic Equity 0.93 26.61 6.30 1.01 11.65 BSE 200 1.52 17.31 6.00 1.99 12.98 All figures in % as on January 31, 2013; Returns above one-year in CAGR terms ...

Invest in Tax Saving Mutual Funds	Download Any Applications
Transact Mutual Funds Online	Invest Online
Buy Gold Mutual Funds	Invest Now

Invest in Tax Saving Mutual Funds	Download Any Applications
Transact Mutual Funds Online	Invest Online
Buy Gold Mutual Funds	Invest Now

Prajna Capital - An Investment Guide

Search This Blog