Family Financial Planning

Child Education Planning

Children are the future of the family and for the longest time, education has been the major lane towards success. A large portion of the skills that are acquired by the children come from the schools and their environment, and lack of good opportunities has a major influence over the child’s future endeavours. For example, when a bright student from an average family, scores high enough to get the admittance into his dream university, their families have trouble supporting their education financially. Cost of education in top universities in the US is $48,510 yearly. Similarly, in UAE, the tuition fee for undergraduate programs is 70,000 AED per year. This in turn happens to be the deciding factor of the child’s future. Child Education Planning helps you in strategizing your investments according the needs of your child’s future.

Retirement Planning

Everybody wants to live a life on their terms, not just financially but in all aspects and retirement is when a steady source of your income stops while your expenditure remains almost the same. Planning your life ahead for the basic as well as your aspirational needs is what retirement planning offers you with a regular cash flow. If the earning character in the family is only one, then meeting all the needs like before becomes quite hard after retirement. There are times when kids have to move away to pursue their aspirations. Having the responsibility to manage themselves, looking after their parents can become difficult to manage. This is where retirement planning can help you to be financially independent without having to face any uncertainties.

Critical Illness

Medical treatments are expensive and you would never want to dip into your savings to pay for the treatment by putting your financial goals and your family’s future in jeopardy. Critical illness insurance covers you for specific life-threatening diseases that require payment of a lump sum amount. Having it planned along with the Mediclaim of your choice, a part of the sum assured can be obtained as a monthly salary upon being diagnosed with any critical illness. This ensures a hassle-free high-quality medical treatment along with your family's security which might get compromised in a traditional health insurance policy.

Life Insurance

Life insurance plays a pivotal role in safeguarding your family against tough times by providing financial benefit to dependants upon demise of an insured person. Several lives are put at risk upon a person’s demise due to various diseases and mishaps which might lead the entire family to suffer from emotional and financial losses. Un-doing those events is not possible but securing your family’s future financially is definitely possible by having a right insurance plan. Having a life insurance plan protects your spouse, kids & parents in the absence of the breadwinner of the family and also assures a financially secured future for them.

Savings and Investment

Many prospects think savings and investments are synonymous which is why it is important to calculate and distribute the money wisely. Saving money is simply keeping a certain amount aside for later use whereas investing involves selecting one or more tools among various financial tools for better returns. Savings and investment plans cover for various needs, including your personal as well as your family’s goals.