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Holistic investment planners, financial planning Chennai, Private wealth management Chennai

Holistic investment planners, financial planning Chennai, Private wealth management Chennai

Financial Planning chennai India, Private wealth management chennai India, Investment Advisory India, Systematic Investment Plan, Mutual Fund SIP, Mutual Fund ELSS, Tax Saving scheme

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Planning for life insurance at different life stages

Planning for life insurance at different life stages

Increasing inflation, shift to nuclear families, and the fast track change in life style patterns throw a financial challenge which can be addressed only by life insurance. Your financial plan needs to be in sync with your life stage and the requirements that are very particular to your specific stage in life. The need for life insurance coverage changes with the change in your life stage. The same amount of coverage may not be sufficient when there is a change in your life stage. So whenever your life stages change, you need to re-evaluate your need for life insurance coverage. The following are the different life stages which demands for a revision in your life insurance coverage.

Dependent Parents

If you are single and you have financially dependent parents, then you need to take life insurance even before your engagement. You can’t compare yourself with other singles whose parents are not financially dependent. You are in a unique life stage. In case of any mis-happening to you, your aged parents should not financially suffer. Keeping this in your mind, you need to take required life insurance coverage.

Newlywed

When you are married, the need for life insurance increases. You need to cover yourself with adequate life insurance in order to financially protect your spouse.The right time for you to take the first policy is as soon as you get engaged.

New Baby

You need to increase your life insurance coverage when you are blessed with a baby. You are responsible for the financial well being of the child, its higher education and wedding. As a responsible parent, you need to protect your child’s future with adequate life insurance coverage. As soon as your wife’s pregnancy is confirmed, you need to re-evaluate your need for life insurance.

New Home

Whenever you buy a new home on mortgage, your outstanding liability goes up. In case of any eventuality to you, this financial burden falls on your family. So as to place your family in financial comfort, you need to take enough life insurance which covers the outstanding loan, maintenance of the property and property taxes to be paid. This coverage will make your new home a happy and peaceful home.

Job Promotion

Job promotion results to increased income. Increased income paves the way to a better lifestyle. Your family needs this increased income in order to maintain that new lifestyle. As you need to protect your family’s new lifestyle, you need to re-evaluate your life insurance requirement.

New Debt

All your debts like car loan, personal loan need to be covered with an insurance policy. Whenever you apply for a loan, you need to increase your life insurance coverage. You need to make sure that you are leaving assets for your family and not the outstanding loans as liabilities.

Children Education

Policies on life of growing children especially those studying for expensive courses like engineering/medical/MBA’s from India or abroad since money outgo is fairly large

Changes in marital Status

If your marital status changes because of death of your spouse or divorce, then you need to rework your life insurance requirement. The reason that, your family is solely depends on you now. Also you need to make necessary changes in the nomination of the existing policies in which you have nominated your spouse.

Business liabilities

If you are a businessman, then your business liabilities are also an important factor in determining your life insurance coverage. All your trade debts and business loans are need to be adequately covered with insurance coverage. This will help especially when it is not a family business. Also insurance policies cannot be attached in case a decree is passed against a judgment debtor and it helps creation of a protection fund.

Post retirement

After your retirement, you don’t earn from your work. So there will not be any financial loss for the family in case of any mishappening to you. So all your insurance policies can be closed or cancelled on your retirement. During your working life, whatever the policies you take, you need to make sure that the policy matures or closes on or before your retirement.

In a nutshell, understanding the life stage in which you are presently in, and taking the life insurance coverage that suits your life stage, gives you and your family a peaceful mind.

Planning adequate life insurance cover is an important part of any strong risk management plan. Having a strong risk management plan is a vital part of any sound financial plan. If you are really interested in creating a sound financial plan with strong risk management plan, then then I would suggest you to test-drive our services by opting for

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Jey S
Jey S
24. September, 2021.
I have been using Holistic Investment Planners for the last three years. Mr. Srinivasavaradhan answered all my questions and doubts very patiently during the first free consultation. I was able to clearly define my short-, medium- and long-term goals once I signed up for the comprehensive plan and got their investment plan suggestion to achieve my goals. They are very polite and highly professional whenever I contact them for any queries or make investments. They never pressurize you to invest on their recommended financial products. I would have been lost money by investing directly without their help since I do not have time and knowledge about different financial products. Risk planning is also done as part of financial planning. Truly, they are holistic planners when it comes to your financial planning. They help you to define your life goals, understand your financial resources and establish a plan to invest towards reaching those goals. They do review your plan as you progress to make sure that you are on correct path to achieve those goals. Kudos to the team and keep up the good work!!! I am happy that I found holistic investment planners for my financial planning and management.
aksaswadkar
aksaswadkar
24. September, 2021.
I was about to retire and really not understanding how to invest money to have financial freedom and fulfilling my goals. Was desperately searching on internet way out and fortunately came across Holistic Investment Planners. I read number of articles on their website and realized that this is the agency which I want and engaged their services for my retirement planning. It is an excellent experience to be associated with Holistic. Right from day one our interaction was fantastic and they gave me such a wonderful plan that I had never imagined. I am fortunate enough to be in the client list of Holistic. I have recommended Holistic to my friends as well.
Lionel Faber
Lionel Faber
16. September, 2021.
I've been availing their services for the past year. They are highly knowledgeable in the field and are very patient with all doubts and queries. Personalized financial planning is provided keeping your short term, medium term and long term goals in mind. They do not pressurize you to purchase schemes of their choice. They provide their input and suggestions and leave the decision up to you which shows their honesty and high principle.
Sridhar
Sridhar
8. September, 2021.
Financial planning brings peace in life. Holistic Investment have supported in arriving financial plan based on future goals. My investments are regular since then. They are professionals in their business, will recommend others.
Nitesh Agrawal
Nitesh Agrawal
6. September, 2021.
I have been using Holistic Investment Planners from last one year. The journey has been fantastic. Being a finance person myself I always thought we can look after and plan own finances also. However, due to lack of time and deciplain the things are not always as desired. After joining with Holistic Investment for the first time Icame to know the Financial goals and quantified them. Some dreams were unrealistic based on the earnings and savings so had a reality check. Also got the information and deciplain of investing on regular and more rewarding securities. I definetly suggest to use Holistic Investment Planners. They are professionals, available and hear youor full story before presenting plans. They are flexile in the sense if there are some urgent deviations required, they help to plan the same. For all professionals/individuals I would suggest using professional help of Holistic Investment Planners for best results in long term investment and financial goals achivements. Last advise will be to start early in your life. It really pays well to start in the beginning itself else the dreams needs to adjust :)
Swetha Vasanth
Swetha Vasanth
6. September, 2021.
This is my first year service with the Holistic Team and I would say that they are very much helpful in creating a financial plan and follow ups during the year. I would definitely suggest them if anyone who is willing to proceed with their savings professionally.
Joseph Mathias
Joseph Mathias
6. September, 2021.
I came to know about Holistic Investment Planners online while searching for different investment ideas. Once I contacted them the journey was very smooth. Mr. Ramalingam explained all the aspects of Financial planning in detail and it opened my mind. I realized how important it is to have a Financial planning. Mr. Rajan suggested all the requirements as per my goals and made a Investment plan keeping in mind of my goals. I started my Investment journey with them. I wish I had done it some years back then it would have been in a different level. Review meetings were held every six month to check the implementation of the plan and check the results as per the requirements and to check if any changes required. Overall it was a good experience with Holistic Investment team and would like to continue in the years to come.
Srinvas Kannan
Srinvas Kannan
30. July, 2021.
I came across Holistic investment planners almost 5-6 years back, but I did not have the trust since I had met a few of them who did not sound promising. Then I started investing through a financial advisor of my friend. After 4 years of investing the returns were very low. I was disappointed and started looking for financial advisors when I came across Holistic investment. I had a detailed discussion about my goals and the way they would approach achieving my goal before deciding to switch my investments to them. After a thorough analysis of my then existing portfolios, they suggested new ones and we zeroed-in on 6 schemes/funds where our investment would be split. I am glad I made the decision of switching over and taking Holistic planner's advise, my returns are handsome and I only wish I could have taken their help/advise 5 years back itself. Neverthless, I would like to recommend their services for investment and financial advise if someone is serious about their investments.
Shivaram Andiappan Selvaraj
Shivaram Andiappan Selvaraj
3. July, 2021.
I got a free first time consultation. I got my doubts resolved. They also gave additional advises for investment planning which was also useful.
Nellai B
Nellai B
26. June, 2021.
I have been associated with them for the past three years. They are very professional and polite in answering all our questions. I have complete trust in their suggestions. I strongly recommend for anyone. I am looking forward to have strong and successful association with them.
Google rating score: 4.4 of 5,
based on 61 reviews

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