financial planning in baja allianz
Post on 07-Apr-2018
216 Views
Preview:
TRANSCRIPT
-
8/6/2019 financial planning in baja allianz
1/14
By
A.VinodRegd. No. 122510201
-
8/6/2019 financial planning in baja allianz
2/14
-
8/6/2019 financial planning in baja allianz
3/14
MISSION:
As a responsible, customer focused market leader, we will strive tounderstand the insurance needs of the consumers and translate it intoaffordable products that deliver value for money.
VISION:
To be the best life insurance company in India
Investment Capabilities ofBALIC:
BALIC investment has the demonstrated capabilities of managing large funds
of over Rs.33,475 crores
Funds under management: Equity Rs 26,425 crores
Fixed Income Rs 7,050 crores
Experienced investment team of 18 professionals
BALIC emerged as the 4th largest Equity fund house
-
8/6/2019 financial planning in baja allianz
4/14
` To have the necessary capital available in case of
unexpected loss of income or savings or significant
unforeseen outlays.
` To maximize return on investment at a reasonable Level
of Risk.
` To accumulate the necessary savings for significant
family needs.
` To have sufficient savings and income for retirement.
` To minimize taxes at death and distribute estateaccording to your personal wishes.
-
8/6/2019 financial planning in baja allianz
5/14
-
8/6/2019 financial planning in baja allianz
6/14
` Financial planning should cover all areas of the clients financial
needs and should result in the achievement of each of the client's
goals. The scope of planning would usually include the following:
` Risk Management and Insurance Planning
` Investment and Planning
Issues
` Retirement Planning
` Tax Planning
` Estate Planning
` Cash Flow and Liability Management
` RelationshipManagement` Education Planning for kids and the family members
-
8/6/2019 financial planning in baja allianz
7/14
` The process
` Step 1: Setting goals with the client
` Step 2: Gathering relevant information on the client
` Step 3: Analyzing the information
` Step 4: Constructing a financial plan
` Step 5: Implementing the strategies in the plan
` Step 6: Monitoring implementation and reviewing the
plan
-
8/6/2019 financial planning in baja allianz
8/14
` There were 50 respondents selected randomly and questioned
on various aspects on future / integrated financial planning
people do and tried to gain their responses with an intention to
understand the peoples outlook towards having an effective
financial planning by investing in life insurance for themselves
and their family to meet all their future needs like children's
educational & marriage needs
` 1.Setting up of financial objectives
`financial planning
childrens education
post retirement plans
World tour
-
8/6/2019 financial planning in baja allianz
9/14
2. Deciding upon a time horizon / goal of investments for
achieving the objectivesTime Horizon
long term goal 10-15 years
Medical Contigencies
un cheerished life goals
So it is very clear from the above that majority people again stay investedfor a longer term say for more than 10 years to meet their children's future
needs. Other provisions like medical contingencies, wealth & asset
creation take a back seat and people do not want to invest in these needs
for longer term
-
8/6/2019 financial planning in baja allianz
10/14
3.Estimated investible surpluses available to meet their
financial objectives.
0
10
20
30
40
50
60
70
80
childrend'sfuture needs
future needs present needs
Investible surplus available
So it is very clear from the above that majority people do
not have the investible surpluses and hence not able to
invest for their future financial goals. Any investible
surplus goes to funding their children.
-
8/6/2019 financial planning in baja allianz
11/14
` The company is keen to develop a sense of integrated financial planningapproach among its customers and safeguard them & their families frommost the risks thru different life insurance plans.
` It is also evident from the above study that people only want to invest andsecure their childrens future goals by investing directly in children or thruother plans.
` Least interest is shown towards investing plans for protection against medicalexigencies.
` It was also clear that majority people do not have a set approach towardssetting & defining financial objectives, deciding time horizons for achievingthese goals, periodically review their investments, and devise a plan to applythe returns.
` Most of the respondents only plan their investments post an advisors visit.Looking into family requirements, consulting experts for expertadvise, allocation of extra savings to various goals usually takes a back seat.Instead people rely on advise from form friends and colleagues for suchinvestments.
-
8/6/2019 financial planning in baja allianz
12/14
` The company advisors should play a role of financial planners who would provide a breakup of investments into different plans to provide the customer a comprehensive protectioncum investment portfolio
` The advisors must advise the customers that they should follow the concept ofIncome Savings = Expenses to build a strong platform of financial planning.
` The most important aspect is the utilization of returns on maturity while setting
goals, diverting of goals judiciously after accomplishing a particular goal, controlling greedfor higher returns as there are mechanisms which give optimum returns.
` As it was found that investors preparing only Government companies for their officeinsurance so create trust in investors about private insurance companies by renderinggood services like proper claims, good response to clients and maintaining goodrelationship with them.
`
There is a need for promoting an integrated financial planning which includes priority focuson Investment basically for retirement planning, wealth creation, asset creation andchildrens education , protection of family, diseases and disabilities
-
8/6/2019 financial planning in baja allianz
13/14
` Control your greed for more returns as it carries higher
risksYou will end up making more money.
` Teach Kids value of MoneyMoney saved is money Earned
` The solution according to investment experts is to set
different life goals first and then choose instruments thatserve those goals.
` The rule of thumb is to opt for safer avenues such as fixeddeposits and short term mutual fund schemes to achieve
immediate goals. One can opt for riskier instruments like
stocks, equity schemes of mutual funds to meet their longterm goals. And last but not the least an investor need not be
perturbed over short-term fluctuations in the market.
-
8/6/2019 financial planning in baja allianz
14/14
top related