The unsung HERO of Financial Planning

 Why Term Plans Should Be Your First Life Insurance Policy:

In a world of growing financial aspirations and increasing life uncertainties, life insurance often remains one of the most misunderstood financial tools. In a recent interview, Amit Jhingran, MD & CEO of SBI Life Insurance, brought refreshing clarity to the role term insurance should play in our lives.

Breaking the Myth: Insurance Is Not Just About Returns

Many individuals view life insurance merely as a return-generating instrument, often overlooking its primary purpose—financial protection. Jhingran emphasized that insurance should not be seen as an unnecessary cost, but as a foundational safety net for achieving all other financial goals. Term insurance, in particular, stands out as the most affordable and effective way to ensure this protection.

Term Plans: The Unsung Hero of Financial Planning

Unlike traditional or investment-linked policies, term plans are designed with one goal: to provide high coverage at low cost. Jhingran advocates for making a term plan the first insurance policy one buys. Its simplicity and clarity of purpose—offering a financial shield to one’s family in case of untimely demise—make it a cornerstone for any robust financial plan.

He also shared that term insurance saw a significant boost during and after the COVID-19 pandemic, as awareness around life protection grew. Interestingly, most customers now prefer policies that provide cover till the age of 65–70, showing a shift toward more practical and time-bound protection.

Adapting to Changing Customer Needs

Jhingran pointed out how insurers like SBI Life are constantly evolving to meet changing customer demands—offering more customized products, digital onboarding, and transparency in policy features and benefits. The aim is to remove complexity and build trust in a product that, for many, remains essential but underutilized.

Final Word: Protection First, Then Investment

The article leaves us with a strong message—before chasing investment-linked returns, ensure you’ve secured your family’s financial future. As Jhingran puts it, “Term plans should be your first life insurance policy.”

This isn’t just financial advice; it is peace of mind for you and your loved ones.

Want to get your financial Planning done. Book a clarity call for free: https://calendly.com/sumanmanjrekar/strategy-call

Know more about us:

📌Facebook: https://www.facebook.com/sumanmanjrekar/

📌Instragram: https://www.instagram.com/suman.manjrekar

📌https://www.instagram.com/successwithsuman

📌Youtube: https://www.youtube.com/@SumanManjrekar

📌Linkedin : https://www.linkedin.com/in/suman-manjrekar

Are you careful in choosing & using your wallet?

Please be mindful when you buy a wallet for yourself.

This is a place where you will be keeping your hard-earned money and money is very precious to us.  right?  So something that is precious to us we take extra care of that thing.  So are you keeping your money in a cheap type of wallet, it's torn or the leather is pealing out, and stitches are coming out?

Keep these things in mind

1) Intentional Wallet Selection:

• Choose a wallet that resonates with your financial goals and personal style.

•  Consider the material, color, and design as elements that align with your vision for abundance.

• The wallet is more than a functional item but also a symbol of prosperity.

2) Declutter for Wealth Energy:

• A cluttered wallet can symbolize financial stagnation.
• Remove unnecessary items, such as old receipts and expired cards, to create space for new opportunities and wealth to flow in.

3) Manifestation Affirmations:

• Incorporating manifestation affirmations into the wallet routine, such as "My wallet is a magnet for prosperity" or
• "Every rupee in my wallet brings more abundance into my life."
•  repeat these affirmations while placing or retrieving money from their wallet.

4) Energy-Cleansing Rituals:

• Tips on energy-cleansing rituals for the wallet.
• Placing a small crystal associated with wealth (such as citrine or green aventurine) in the wallet or

• periodically "smudging" it with sage to clear any negative energy.

• The intention is to create a positive and vibrant energy around the money.

Hope this was helpful please share it with your friends.

 For more tips

Join my fb group for more tips

Pvt FB Group

 

We are still in 20th Century with Regards to this.

 We are living in the 21st century but still, there is one thing which we follow of maybe the 20th or 19th century.

Still, the financial decisions of the house are done by the Males of the House, and wives are not even informed which is very sad and this is what we need to change in the 21st Century.

Mentioned are the Biggest 5 reasons that you should make the Lady of the house a part of taking a Big Financial Decision

1) EQUAL PARTNERSHIP

When it comes to the Financial decisions of the house why is it that 80% of the time only men take the decision and even the opinion of the lady of the house is not considered.

When you get married you both promise to share life with each other.

When you retire even the wife will retire with you. So don't you think she should be given a chance to speak about what kind of life she would want to live after retirement?

Also when it comes to making a decision for Child Education & Marriage do consider her opinion because the children are the children of both parents and not only of one parent.

2) SET THE TREND

Let's set the trend of bringing females of the house together while making financial decisions for the house. Because it will help in the following ways

1) If we start taking part in the financial decisions our kids will also see that and learn that. If you have a girl child it will make sure that she is not fooled at her in-law's place and she will have the confidence to make the financial decisions right. And in case you have a son then all the more there is a reason because when the daughter-in-law comes and she takes part in the financial decision then your son or you should not feel bad.

2) The expertise of both the partners come together on the table and the final decision would be definitely better than the expertise of just one member and trust me Ladies are very good at budgeting.

3) And lastly TRUST. If you are transparent with each other it will build trust between the both of you and you will have an amicable & harmonious relationship.

3) TAKING OWNERSHIP

We often try to blame the person whose financial decision does not fall in place, or the family faces a loss in investment, or even if the returns are low or financial goals are not met.

Now we are humans, not god, we will definitely make mistakes in things and then we learn from it. So even in a financial decision, we should take equal ownership.

Be it is loss: then you take collective corrective steps to bring those investments in line with your goal

Be it Profitable: Then you together, celebrate and enjoy the feeling of contentment together

This will prevent misunderstanding & conflicts between the spouses and build a more stronger relationship between the two.

4) FINANCIAL DISTRESS

In continuation of the conversation of keeping wives involved in the financial decision of the house, this is the MOST IMPORTANT POINT. If a wife loses her husband it's a very big emotional loss but let us make the financial loss or stress a little less. So below are the things that she can face in the loss of her husband

1) Sudden loss of Income

2) Funeral Expenses

3) Legal & Administrative Costs

4) Insurance Policies

5) Debt & Liabilities

6) Tax Implications

7) Financial insecurity

8) Child Education & Marriage

9) Emergency Fund

10) Investments & Investment Risks

5) DEVELOP THE LADY'S OWN PORTFOLIO.

So with the lady of the house taking part in the Financial decisions of the house, it's also important to have her own portfolio. Following are the major benefits of helping her make her own portfolio

1) Financial Freedom: This will give her a little freedom of finance especially when she wants to gift her side of the family or her friends she need not be dependent on you, and you need not shell out from your pocket.

2) No dependency on you: If she has her own money she will not be dependent on you for her own expenses in that way again your pocket will be saved

3) Contribution to Family Goals: When a family's Financial goals are nearing and in case if you feel there is a lack of funds either for child marriage or education she can offer help from her portfolio to meet those financial goals

4) Emergency Fund: In case of emergency you can use her funds as an emergency fund. You can fall back on her.

5) Security for retirement: She will feel secure with regards to her own old age and that will build trust in you will result in a better relationship between a couple

Lastly, as Diwali is nearing I want to remind people that you will be doing the Laxmi Pooja In Hindu we say the Lady of the house is the Laxmi of the house. So let the Laxmi of the house have her own Laxmi.

One VERY IMPORTANT THING I want to highlight here that keep the lady of the house happy because if she is not happy and she is sad and emitting negative emotions, then these negative emotions will fill the house with negativity, and the house will not prosper.

Hope this series of videos was helpful. Type in yes if it was in the comments. Stay tuned for more

#laxmi #money #successwithsuman #emergencyfunds

Must Know Basics of Mutual Funds

 "Mutual funds" are a popular investment, especially among Youngsters, and understanding the basics is essential for anyone looking to invest in them. Here are three key points to help you grasp the "Basics of Mutual Funds"

1) Pooling of Funds: Mutual funds pool money from multiple investors to create a diversified portfolio of stocks, bonds, or other securities. When you invest in a mutual fund, you're essentially buying shares of the fund, which represent your ownership in the underlying assets. This pooling of funds allows investors to access a diversified portfolio even with relatively small amounts of money. You can start a SIP with as small as Rs 100 per month so anybody can take advantage of this instrument.

2)Professional Management: One of the main advantages of mutual funds is that they are professionally managed by fund managers or investment teams. These experts make investment decisions on behalf of the fund, including buying and selling securities within the portfolio. Their goal is to achieve the fund's stated objectives, such as capital appreciation, income generation, or a combination of both, depending on the fund's type. These professionals save your time which you invest in studying the economic scenario or individual companies.

3) Diversification and Risk: Mutual funds provide diversification, spreading your investment across a wide range of assets. Diversification helps reduce risk because it means that if one investment in the fund performs poorly, it may be offset by others that do well. However, it's important to note that all investments carry some level of risk, and the performance of a mutual fund is not guaranteed. The value of your investment can go up or down based on the performance of the underlying assets.

Mutual funds offer a way for investors to access professional management, diversify their investments, and potentially achieve their financial goals without being exposed to too much risk which if invested directly in Equity would be there. It's essential to take a Financial consultant's advice to suggest and choose mutual funds that align with your investment objectives, risk tolerance, and time horizon. I strongly believe if you are not an expert in something might as well take help and choose the right path but many people will blindly follow what their friends suggest which may or may not align with their life goals.

Also, beware of online self-investment apps where people invest on their own without personally consulting a financial advisor. 

For any further details, you can connect with us.

Also, you can follow me on FB, Instagram or YouTube for 

Facebook

Instagram

Youtube

A big mistake that most of them are making today.

 Let's play a game of questions and answers and figure out if you are able to reach till end.  Don't worry there are only 4 Questions😊

✅ Question 1: Is Financial Planning Important to You?  If your answer is yes then only read further otherwise this article is not for you.

✅ Question 2:  For any important health issue would you search an online Google solution/friend's advice and take medicine or would you like to go to a specialist or professional?  If your answer is a specialist then read further because this article is only for those who are serious about taking correct financial decisions.

✅ Question 3: If you go to a specialist would you check his / her credentials?  If your answer is yes go ahead, if No you can drop it now.

✅ Question 4: If you are satisfied with the credentials, then you will take an appointment, if it is a few days later you will wait, even after taking an appointment it's seen that we have to wait till the patients ahead of us are done.  Then you go into the doctor's cabin, say your problems, and then he gives you the solution (medication).  Then to go with what the doctor said or no is your decision, but at least you feel that you did justice to yourself by going to a specialist.  Do you feel I am right?  If yes, read further.

So please understand that if money matters and financial decisions are important to you then you should take professional advice and not rely upon online tips.  Your Financial Future/standing is dependent on the decisions taken today.  Don't let your future self regret and blame your present for not taking correct and wise decisions.

Please seek professional help who have experience and their work is to give you the best financial solutions.  And you concentrate and invest time and energy in your work and profession.  

Before making a final decision please go through the below DISADVANTAGES of investing online by oneself

1) Lack of Expertise  Investing requires knowledge & expertise in the financial market, securities & various investment instruments.  If you are not well-versed in these areas, investing online by yourself can be risky. You may make uninformed decisions, leading to potential losses or missed opportunities. 

2) Emotional Biases: Investing decisions can be influenced by emotions such as fear, greed, & impatience.  When investing online by yourself, you mail fall victim to these emotional biases, leading to impulsive or irrational investment decisions that may not align with your long-term goals.

3) Limited resources: Online investing typically requires access to financial tools, research, and data to make informed decisions. If you don't have access to reliable resources, you may not be able to thoroughly analyze investment options or stay updated with market trends, which can negatively impact your investment performance.

4) Security Risk: Online investing involves providing personal and financial information over the Internet, which can expose you to potential security risks such as identity theft, hacking, and fraud. If you're not careful with your online security measures, you may be at risk of financial loss.  Cybercrime is known to all.

5) Lack of personalized advice: When investing online by yourself, you won't have access to personalized advice from a qualified financial professional. This can be a disadvantage if you're not experienced in investing and need guidance in creating a diversified portfolio or making strategic investment decisions.  The Professionals are having knowledge and talent to study the economy, your life stage, and risk appetite and then advice and their work is to do that and keep themselves updated with the new movements and changes happening the way a doctor does in his field the way a designer does in his field and the way you must be doing in your field.

6) Time commitment: Investing online by yourself requires time and effort to research, analyze, and manage your investments. If you have a busy schedule or lack the time to dedicate to proper investment management, it may lead to suboptimal results. Instead, you can leave the job with a professional and invest that time in your work or your family.

7) Technical difficulties: Online investing relies on technology, and technical glitches or system failures can occur, potentially disrupting your investment transactions or access to your investment accounts. This can be frustrating and may impact your ability to manage your investments effectively.

It's important to thoroughly research and understand the risks associated with online investing before deciding to invest by yourself. Consider your level of expertise, resources, risk tolerance, and time commitment before making any investment decisions. It may be beneficial to seek advice from a qualified financial professional to ensure you make informed investment choices

For the assistance with our service call on 9820346770/ 8828416770

to know our credentials click here. https://linktr.ee/Sumanmanjrekar