Insurance - Wealth Creation & Protection
Approach
Risk Management is the key word today and is part of every aspect of life – be it Corporate strategies, lending, treasury management, wealth management, etc. Managing Risk, esp financial risk for an individual (under the Wealth Management umbrella) is done through Insurance. This process involves identification of the risk attached to one’s life, defining long term solution to curtail or reduce such risk and managing them through tools like insurance.
At MOSL, we focus on identifying needs and then matching them with right products rather than vice versa, as experienced by many of you.
Risk
| Concern / Objective
|
1. Risk Of Early Death
| Income Replacement For Family For The Rest Of Their Life.
|
2. Risk Of Living Too Much
| Wealth Accumulation To Service Retirement Needs/Expenses (No Earning Period)
|
3. Big Expenditure Like Children Education/Marriage Needs
| Low Dependency On Loans Or Avoid Sacrifice Of Other Needs In Life Due To Huge Outflow
|
4. Risk Of Financial Loss Through Business Or High Risk Investment Instruments
| Creating A Hedge And Protecting Estate Against Bankruptcy Or Litigations
|
5. Financial Loss Due To Death Of Key Employee
| Covering Short Term Big Loss To Business Due To Death Of Key Employee (Directors Or CEOs Or Any Other Senior Management Executives)
|
6. Other Ambitions (Buying A Dream Car, Property At Exotic Locations, Holiday At Foreign Locations
| Identifying The Lumsum Required For Such Need And Arriving At Convenient Options To Achieve Them
|
The exercise of analyzing risk and objectives is done in a very scientific method using a comprehensive tool called ‘Life Profiler’ which is prepared in-house.
With very convenient application, it only requires one to fill in important details in a two pager and what it brings out the big picture of your financial requirements in future for every objective selected.
Feature of ‘Life Profiler’:
Ø Helps you in deciding your main and important objectives and prioritizing them.
Ø Arrives at accumulated amounts required to achieve objectives in future depending on your earnings and cashflows
Ø Analysing your current financial position/investments verses actually required to achieve your goals
Ø It computes the amount of investments required to be done and in what pattern to achieve your goals
Ø Finally, selection of appropriate Insurance plans to match your profile and requirements
Illustrations from Life Profile -
Say, for a person of age 35, with current annual expenditure of 30 Lakhs per annum, he would require:
For. . .
| Expenses After 20 Years
| Total Fund Required
| Approx Investment Required
|
Retirement
| 79.59 L
| 14.57 Cr
| 24.03 L per annum
|
Securing Life Of Dependants In Case Of Unfortunate Event
| | 7.87 Cr
| 3 L per annum
|
Also, for education expenses of 50 Lakhs today, one will have to fetch out 1.04 Cr after 15 years.
Service
Through extensive training and research, our qualified Financial Advisors are well equipped and are highly capable of understanding the dynamics and risk inherent in one’s life and thus matching with apt insurance solutions with one’s profile with the use of the perfect planner – ‘LifeProfiler’. Above all, we revisit your investments at a regular frequency to assess the progress and direction of your wealth planning.
Motilal Oswal Securities Ltd are corporate agents for ICICI Prudential Life Insurance Company Ltd. Corporate agency License no: 4403280