Blog

Have You just got Married? Here’s How to Secure Your Future

Secure your family’s financial future with investment through SIP

The rising cost of basic items for the living is shrinking our wallets. In the past 20 years, the cost of many items of regular use has increased 5 to 7 times. But our wage has not expanded to a similar extent. Consequently, we are saving less and less on the proportional and inflation-adjusted basis. As a result, we can be short of our goals in the long term. Historically, we have invested what was saved after spending on daily needs. But it is time you to change the paradigm. Do not save what is left after spending, but spend what is left after investing. PTIC INDIA – Financial Planner in Delhi, can help you secure your family’s future with investment through SIP.

Many financial priorities in different phases of life:

While the vast majority of us are completely consumed in meeting our daily needs such as financial liabilities (Credit card bill, Home Loans, EMIs) and our way of life goals. Apart from this, you need to have many needs at different phases of life.

In the initial 25-years of your lives, the most important requirements are education, developing skills, training, and health. From 30-35 years of age is working age, your focus is on job, business, family, home, and children’s education and much more. When you are around 50-55 years of age, the peak of your career, you focus on your children’s higher education, marriage, and your forthcoming retirement. These objectives will not be fulfilled mysteriously. Do not wait for windfall gains because it is quite rare. You have to save and invest for each of your objectives or goals from your monthly savings.

Considering Inflation, it might appear a difficult task. But if you commit early and have a good plan for your financial and investment decisions. Then it is possible for you to meet all your goals and secure your family from a financial perspective. Here our main objective is to build up a systematic and disciplined approach to savings and investment. The known principles of SIP (Systematic Investment Plan) namely, start early and regular investing are basic in meeting your various needs at different phases of life.

Here is the ICICI Prudential SIP Plus Plan that helps you meet multiple goals. It also copes with inflation and at the same time, it provides you both flexibility and convenience.

Features of ICICI Prudential SIP Plus:

  • ICICI Prudential SIP Plus provides life insurance as an added benefit. Life insurance cover is provided free of cost to the investor, through the ICICI Prudential Life Insurance Company’s group term life insurance plan. Therefore, it is a good idea to avail of this feature.
  • ICICI Prudential SIP Plus feature is available for select schemes of ICICI Prudential Asset Management Company.
  • It will provide you with a life insurance cover of 10 times the monthly SIP installment during the first year. The cover will increase to 50 times during the second year. And to 100 times from the third year onwards subject to a maximum cover of Rs 50 lakh per investor across all folios and schemes.
  • In the event of an unfortunate death, your nominee will receive the life insurance cover and the SIP corpus. To illustrate with an example, if you have monthly SIP of Rs 20,000 in the SIP Plus feature. In the event of an unfortunate in the third year of your SIP, your nominee will receive the life insurance sum. The sum assured that is Rs 20 Lakhs plus the current value of your SIP. It will be around Rs 8.6 Lakhs assuming 12% return on investment.

Disclaimer:

Both life insurance and investments are important financial priorities for investors. Since the insurance cover is being provided free of cost to investors in ICICI Prudential’s SIP Plus plan. We must caution investor’s not to treat the ICICI Prudential SIP Plus as a complete solution for your family’s life insurance needs. You should buy additional term life insurance to get adequate cover for your family. ICICI Prudential SIP Plus should primarily use for investment purpose. The life insurance component should use to provide additional protection for your family. It will lessen the amount of term life cover you need to buy. And also allow you to save the cost of the premium.

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

one × three =