Think before it is too late
T.me/AlliesFin
Secret Investments or keeping the Investments unknown to your family members may cost you very dearly. Just see the approx DATA and think yourself:
Rs. 82,025 Cr estimated investor wealth is idling in unclaimed Accounts
Rs 18381 Cr lying in unclaimed Bank Accounts
Rs. 15167 Cr lying unclaimed with Insurance Companies
Rs. 17880 Cr lying in inactive Mutual Fund folios
Rs. 4100 Cr of unclaimed dividend lying in IEPF
Rs. 26497 Cr is lying unclaimed in Provident Fund Accounts
What is the Solution
Keep family informed about finances
Always ensure, in all your investments/accounts, you register your nominee without fail
Write a Will as that will ensure a seamless settlement/flow of assets
Keep updating details regarding changes in nominee, address, redemption, top-ups etc - if any, as and when they take place
Keep your Deposits in one Branch, as far as possible. Remember, if you keep in many Branches of multiple Banks, your are making way for unclaimed deposits in future
Maintain one Credit Card, as far as possible. This would help you to manage your repayments properly and on time. Remember, each Credit Card carries a handsome personal insurance and be aware of the same
Keep your Trading and Demat account with one or two Brokers. However, it is advisable to shift to one entity
Be aware of and do visit your Brokers office, Bank Branch, Insurance Company offices once in a while and maintain relationship. In case of eventuality, they will inform your family
Never invest on your own as you may not always be proficient in investments and money market operations. Engage the services of an experienced Advisor or Intermediary to get the best and remain with them to avail seamless services. Even if you forget, all your investment info will be with the Advisor and he shall pass on to your family
Last, but not the least, see that your data is documented properly. Write down details of all your investments - Bank Accounts, Insurance Policies, Provident Fund, Mutual Fund folios, Post Office Saving Schemes, Credit Cards, Shares, Outstandimg loans in a book and let all your family members be aware of it
After, it is your hard-earned money and you and your family have all the rights and privileges to enjoy the same!
By: via AlliesFinServe #StockMarket #Bharat Telegram.me/AlliesFin
