3 Ideas can change your Financial Life
By RJ Advisory
Before starting I would like to share thoughts from 3 Idiots in my today’s article. If you had watch movie 3 idiots the main character of film were joined Engineering college without any proper goal except Amir Khan who guide to all others, I fully agree with the story of movie and want to share same concept
here. If you have passion like Amir Khan and want to become a Great Investor start with these 3 idiots and feel immense change in your financial life.
1. Term Insurance
Term Insurance is one type of insurance plan which is very low cost and useful Insurance product. If you are young and only earning member of your family, just think about your family’s future in absence of you? Term plan must be your first priority to protect your family against uncertain event. While planning for such insurance ensure you cover your all liabilities as well. One can use Human Life Value (HLV) to calculate adequate insurance requirements for you or take help from Financial Advisor.
2. Health Insurance
Typically known as a Mediclaim Health Insurance cover your hospitalization expenses which are increasing drastically in today’s age. You should check you’re your medical reimbursement provided by employer because such benefits shall discontinue when you left job or retire from company. Then it’s too late because no one will give you due to your age. So it is better to select Family floater as your early age and cover to your family under single health insurance plan.
3. Investment through SIP
A simple and best way to invest is to start a Systematic Investment Plan (SIP), which is like starting a Recurring Deposit. Want to know the beauty of return, you can choose SIP as a finest option for your portfolio over long term horizon. My personal suggestion to all individual must commence with SIP to make better wealth and undergo the real taste of Financial Life.
Finally take away lessons from this article don’t buy any Insurance for Investment Perspective only. I like to encourage your comments on this article.