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Holistinc Investment - Risk Management

Do you have a Risk Management Plan?

by Holistic Leave a Comment | Filed Under: Investments

Risk management plan is an integral part of any financial plan. Creating a financial plan without risk management plan is like starting a journey without doing any preparation for the vehicle such as checking the stepney, break oil level and other conditions of the vehicle. Not doing all these can make your journey towards a destination halt in between.

Life Insurance:

The amount of life cover you need to take will be decided, depending on your income earning capacity and the financial goals you have. When we say life cover, we don’t mean traditional policies like endowment or money back where you will get only 5% to 6% return p.a. and also we don’t mean ULIP policies where there is a heavy front loaded charge up to 40%.

We are looking for life cover and not investment. Insurance is different from investment.

When we say life cover, we mean life cover through pure term insurance policies. Of late, online term insurance policies are better because they are cheaper by 50% to 70 % than the offline term insurance policies. The offline term insurance policies are taken through insurance agents, so their commission is loaded in the premium. That’s why the offline policies are costlier than the online policies.

The idea is to compensate the financial loss to your family in case of any mishappening to you. You family needs to achieve all the goals . which you have set for them irrespective of the fact that you are around or not.

Health Insurance:

Does your employer provide a health insurance for you? Does the employer provided health insurance cover all your dependents? This coverage amount is sufficient or not…? Will your employer cover under health insurance when you are in notice period?

After your retirement employer provided policy will not cover you. If you go for a separate health insurance policy at that point in time, because of age the premium will be higher and also the pre-existing diseases will not be covered. So what is the way out?

You need to find an answer for all these questions.

Also you need to cover you against accident and disability. Critical Illness insurance is also an important cover you should have for you as well as your dependents.

To have the optimum health cover you should have 3 policies namely health insurance, accident & disability insurance and critical illness insurance.

Property insurance:

If you have an independent house or flat that needs to be protected against any natural perils like fire, earth quake, flood… and also things like terrorism, riot. Though this kind of risks happening to our property seems to be very remote, if it happens, that will put our entire financial plan upside down.

Protecting your existing wealth is equivalently important like building more wealth. Moreover, the premium you pay for such property insurance is also very minimal. Say for a property worth 50 lakhs, the premium will be around Rs.2000.

Emergency Reserve:

You need to set up an emergency reserve in order to meet unexpected contingencies of life. Generally this reserve will be to the extent of 3 to 6 months of your expenses and other loan commitments. You need to keep this emergency reserve in a place which is very safe, liquid and at the same time needs to generate a decent return.

Emergency reserve brings not only brings comfort, it also brings peace of mind. When you have enough emergency reserve, then when the contingency arises you will not use your Credit card , you will not be forced to withdraw from stock market, you will not be forced to opt for personal loan.

Also this emergency reserve needs to be increased every year by certain percentage to cope up with your increased spending.

If you start your journey towards your financial destination, after doing all these preparatory works in the form of risk management plan, you journey will be protected, peaceful and pleasurable.

Have a safe and smooth financial journey with a well thought out risk management plan.

Having a well thought out 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 I strongly recommend you to take advantage of our

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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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