Leave Your
Personal Financial Management
Planning to Us
Embedded Files
Personal Financial Management
Personal Financial Management
Personal financial management is a daunting and continuous task that can cause even the most economically savvy individual to become confused or short-sighted.
Indeed, in a world where assets and investments move quickly and we link our bank accounts to innumerable services and make purchases with the touch of a button, financial management is a trickier concept than ever before.
To make the most of the money at your disposal requires constant awareness and strategic thinking.
Here are the 5 aspects of a complete financial picture:
Investing:
Investing is important to grow money so that you can achieve what you aspire.
ANGELONE IS THE MOST TRUSTED STOCK BROKING HOUSE IN INDIA
ANGELONE IS THE MOST TRUSTED STOCK BROKING HOUSE IN INDIA
Our sole goal is to help you build a successful investment portfolio. In the last 25 years we have earned that trust for 2 Cr+ customers and would love to be a part of your journey as well. As you grow, we help you build ahead.
Savings:
You need to keep money aside as savings to cover any sudden financial needs.
Benefits of Investing in Mutual Funds with AngelOne
Benefits of Investing in Mutual Funds with AngelOne
Angel One offers 1000+ online mutual fund schemes that belong from different fund houses. Find the best mutual funds to invest in with Angel One. With schemes that fit all investment needs, one can easily create a diversified investment portfolio. Not only that, with our several schemes and policies, one can invest small amounts and enjoy a flexible withdrawal policy. Moreover, Angel One Mutual Fund (MF) is loaded with features that simplify the investment journey and help take the best decision. With our advanced MF tools & calculator, you can make a better investment decision. We believe in complete transparency and safety. So there are no hidden charges or fees and your money is in completely safe hands.
Tax Planning:
With proper tax planning, i.e., making adequate expenditure / investment, you can bring down your taxable income, eventually saving a lot of money every year.
Financial Protection:
Now, financial protection through insurance ensures you and your family are able to sail through during the hard times. We might weave several dreams in life and create investment plans to turn those dreams into reality. But unless we protect them with a safety net, the same can turn into a liability. That safety net is insurance.
Term and Critical Illness Insurance:
It is a kind of life insurance that ensures that your family or dependents do not have to go through financial hardship if you die early. As compared to other health insurance products, the sum assured for term insurance is higher as against the premium amount. Now if you calculate it correctly, then you can account for day-to-day expenses of your family, a retirement corpus for your spouse, cover for your liabilities like – home loan, and children’s education in the sum assured.
In case you are diagnosed with one of the critical illnesses mentioned in your policy, the insurance company will pay you the sum assured.
Health, Motor, Mortgage and Personal Accidental Insurance:
Health, Motor, Mortgage and Personal Accidental Insurance:
Having health insurance ensures that you do not have to pay from your pocket in case you or any of your family members have taken ill. Health insurance covers all costs for treatment of the insured like hospitalisation, medication, pre and post hospitalisation expenses etc
Mortgage protection insurance pays off your mortgage if you die during the term of the mortgage. It ensures the loan or mortgage for home, car, property etc. does not become a liability for your family, in case you die early.
In case you meet with an accident and get seriously injured, or become partially or fully injured, the insurance company will pay the sum assured to cover the expenses for treatment and also loss of income. Meanwhile, if you die during the accident, the lumpsum amount will be paid to your family. The payable amount, however, is dependent on the fatality of the accident.
Standalone Health Insurance:
Standalone Health Insurance:
Health insurance plans have become quite important in today’s times as the incidence of illnesses or injuries is rising on one hand and medical treatments are becoming expensive on the other hand. In such a case, having a health insurance policy provides you with a sense of financial security in the event of medical emergencies. The policy pays for your medical costs thereby sparing your finances and allowing you to afford quality healthcare.
Health insurance plans are offered by almost all general insurance companies in India. However, there are standalone health insurance providers that offer only health and travel insurance plans
How to choose the best insurance company?
How to choose the best insurance company?
Here are some aspects that you should keep in mind to choose the best insurance company.
The best insurer would be the one that –
Offers the best coverage benefits
Has a wide variety of plans
Charges the most competitive premium
Has a high Claim Settlement Ratio and an ideal Incurred Claims Ratio
Offers attractive discounts
Has an easy claim process
Offers hassle-free post-sales service
Retirement planning:
Finally, retirement planning is crucial to ensure that you have a big bank balance meant solely for your needs during the twilight years.
Retirement is one of the most crucial life stages, and it can be as blissful or as miserable depending upon how you have planned for it. It holds true for financial planning too. Now, planning finances for retirement is a two-step process. First, is saving for retirement and second is, generating income from your assets during retirement.
Now, building a fund as large as a retirement corpus is a lifelong process. So, the earlier you start saving, the better it is.
As much as it is important to ensure that you are saving enough for your retirement while you are working, it is equally important that you channel that corpus correctly after retirement. Making the right investments will ensure that you have a steady income as long as you live.
Investment options for generating income during retirement: STP withdrawal/transfer from Mutual Funds, life insurance annuity, and rental income.
Bottom Line :
Bottom Line :
Being in control of your finances and having the power of making a life choice without worrying about money are two things that we assume to be tougher than attaining Nirvana. However, having all the aspects of a complete financial picture in one frame ensures that your financial future is just picture-perfect!
Page updated
Google Sites
Report abuse