Right questions to ask while choosing a financial advisor

When it comes to financial advisors, there is a lack of clarity on what financial planners do. Some of the common questions are – How much do they cost? What is the final product – a report and a set of actions points? Or do the advisors also manage the KYC, account opening and investing process? Here is a set of questions you should ask an advisor to figure out if they suit your needs.

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5 reasons why people invest in insurance

Don’t mix insurance and investments – most financial advisers, who don’t have any conflict of interest will suggest that.¬† You end up doing injustice to insurance as well as investments in that case! Yet insurance continues to be a popular investment. What are the reasons why people “invest” in insurance products?

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Common mis-selling in financial products

Mis-selling in financial products – There is nothing new or uncommon in this. Yet we often fail to realize this – or realize it after it is too late! It is not uncommon to hear stories where people bought product because a friendly uncle or friend or bank’s relationship manager (RM) or investment adviser suggested. […]

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When buying life insurance doesn’t make sense?

Getting a term life insurance is one of the initial steps towards planning your financial life well. And rightly so. A good insurance cover can help manage financial risk that your family can potentially face in case of a breadwinner’s death. In case of death of the insured person, the family is paid a certain amount (sum insured) by the insurer. In return, the person buying the insurance policy has to pay a certain fee to the insurer – called premium.

Counter intuitive it may seem, but life insurance is not sacrosanct. It is not always necessary to have a life insurance cover. Here are few situations, where buying a life insurance  policy may not make sense.

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Whole life insurance – Does it make sense?

Term life insurance is something that every individual, who has dependents, should consider taking. However, there are many questions that one needs an answer to before buying a term life insurance. One of them is – till what age should the insurance cover be taken? A variation of this problem is – should one take whole life insurance?

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Why you should get your health insurance now!

Medical expenses is arguably the single biggest unexpected expense that can set your financial plans back. Unfortunately, it is difficult to predict medical emergencies. The best one can possibly do is be prepared and health insurance can play an important role in it. Yet lot of us are uninsured or under insured.

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3 reasons why you need a financial plan

Financial planning is one of the first steps towards a healthy financial life. Yet very few of us have a financial plan in place. And even within this set, very few of us actually follow the plan. Here are some reasons why you need a financial plan!

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How much term life insurance should you have?

For a novice, understanding life insurance can be like navigating a maze. It is often confusing to choose from the plethora of life insurance options that are available. Some “experts”/ salesmen say that you should buy endowment plan or money-back plans. Some say, go with plain vanilla term life insurance. How do you navigate this […]

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