At every lifestage, our goals and dreams evolve. It starts from having a secured income, saving for a rainy day, planning for children’s future, acquiring assets like a car or a house and finally preparing for retirement.
These goals also motivate us to work harder and progress in our work. Planning for these dreams and goals can ensure that we fulfil them faster by growing our savings, protecting our risks and allocating funds to different objectives.
Fulfilling a goal is a lot like planting a seed in the garden. The first step is to decide which seed to plant and then it needs to be cared for over time to get optimum results. Similarly, successful fulfillment of life’s goal requires prioritisation and proper financial planning.
The basic objective of financial planning is to secure yourself and your loved ones from any unforeseen exigencies — immediate and in the future. Life insurance is the first and most important element of any sound financial plan. It provides a unique sense of security that no other form of investment can deliver.
Life insurance is a versatile financial instrument that goes beyond “just protection” — making it an integral component of a comprehensive financial plan, providing leverage for wealth accumulation, wealth preservation, legacy planning and access to liquidity. It inculcates a habit of long-term systematic savings that not only aids in accumulating wealth but also in ensuring steady growth over time for future needs so that you do not fitter away and miss your long term financial goals.
Goals that require financial planning
Security Ensuring a secure future for the family requires sustained financial support in the event of an eventuality to the family bread winner. Increasing incidences of lifestyle-related diseases due to changing lifestyles and increasing cost of medical treatment also makes protection against diseases and ill health a necessity.
Children’s Future As a parent you always want to provide the best to your child. Whether it is best of education or a dream wedding; achieving these goals can be even more challenging due to steep inflation. However, with proper planning and timely investment, these goals