30 OCT 2016
How do you make goal-specific plans?
It was 10 pm in the night. As I was parking my car in the driveway, I could see that the lights were still switched on in one of the rooms. ‘My daughter was studying hard', I thought to myself. It was my daughter who answered the doorbell when I rang it. She smiled at me. “Studying hard?” I asked. She nodded and smiled. She was preparing for the entrance exams to enter into a top management institute abroad. She was very keen on having a foreign education. I had my dinner watching a little bit of television. Everyone else had already dozed off except me and my daughter. I finished my dinner and as I was about to retire for the day at 11.00 pm, I saw that the lights were still switched on in my daughter's room. I opened the door and saw that she was still poring over her books with her earphones plugged on. I decided against disturbing her and turned towards my room.
As I lay on the bed, I thought to myself. What if I had not made a sensible decision 10 years back to invest in an endowment plan? How would I've been able to shell out the money that is required today for her higher education? I smiled to myself about my prudent decision and dozed off.
All of us have specific goals that we want to achieve. It could be your children's higher education, buying a bigger house, going for a vacation on a Caribbean cruise or anything else. All these goals would only get fulfilled if we plan for them in advance. An endowment plan like Edelweiss Tokio Life – Wealth Builder can help us to plan for fulfilment of our goals. Endowment plans are life insurance plans that give you assured returns on maturity of the policy along with death benefit to your family in the event of your untimely demise. So, if you, let's say, want 10 lakhs at a certain point, you can calculate backwards and plan the number of years and amount of premium to be paid for the same. The amount that you invest is also going to be tax-free and the amount that you receive as insurance proceeds at the time of maturity is also exempt from tax. Thus, you can effectively plan for your specific goals.
Generate a quote today to find out how Edelweiss Tokio Life – Wealth Builder can help to fulfil your specific goals
18 JAN. 2018
Benefits of Early Financial Planning For Parents
As a parent, you must know the significance of savings in daily life, but what about the future? As unfortunate events like death can occur anytime, you have to ...read more
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