Balanced Advantage Funds

 

Balanced Advantage Mutual Funds – Reduces Risk and gives good return at the same time !

In the world of mutual funds, there are various kinds of categories for different requirements and risk appetite. One of the categories I want to talk about today is “Balanced Advantage” Category.

What are Balanced Advantage Mutual funds?

Simply speaking a balanced advantage fund dynamically shifts between equity and debt depending on the market valuations. What it means is that when the markets are over heated and high, the fund decreases its exposure to equity and move the money into debt, so that if the markets fall, the down side is protected.

Similarly when the markets are on lower side, the fund increases the exposure to equity and reduces the debt side.

This strategy significantly reduces the volatility of the fund compared to an equity fund and at the same time, the returns potential also comes down.

A lot of funds in this category also name their funds as “Dynamic Asset Allocation Fund” rather than “Balanced Advantage”

Some of the examples of the funds in this category are

ICICI Prudential Balanced Advantage Fund

Motilal Oswal Most Focused Dynamic Equity Fund

Adtya Birla Balanced Advanced Fund

Kotak Balanced Advantage Fund

Reliance Balanced Advantage Fund

HDFC Balanced Advantage Fund

How does a Balanced Advantage Mutual fund work?

A balanced advantage fund uses a predefined algorithm and based on Market PE or P/BV or some other internal indicator to determine if markets are on higher side or lower side and then based on that they keep increasing or decreasing the equity exposure.

To explain : Let us take an example of how ICICI Prudential Balanced Advantage fund which was the first fund of this type in mutual fund Industry and very successful in that category.

Disclaimer : The example of ICICI balanced mutual fund only because it’s the biggest in the category and quite old one in Industry and we have some data to show. It’s not a recommendation to buy. We have some equally good funds from other AMC’s also.

They use P/BV (price to book value) as an indicator to decide is markets are over heated or not.

Equity Exposure changes with Market movements

You can watch how the equity exposure has changed over time from Apr 2010 – Sept 2018 to get an idea. You can observe that the equity exposure increases when Sensex levels goes down and vice versa.

Limits downside and upside

The main benefit of Balanced Advantage funds is that it controls and extreme upside or downside. So you will not see very deep losses , but at the same time you will also not see very high profits.

However, the balanced advantage funds will provide decent market returns (but not comparable to pure equity funds)

Even in the flat markets, you can see that the balanced advantage category has generated positive returns by taking advantage of the volatility.

Who should invest in Balanced Advantage (or Dynamic Asset Allocation) funds?

Now the big question is – Which kind of investors should invest in Balanced Advantage fund and When?

Who should invest? 

It’s mainly for those investors whose focus is on reducing the risk, but at the same time enjoying better returns than Fixed Deposits. The fund value will still be volatile, but the intensity will not be as high as a pure equity fund. From Returns point, it will give decent return of 2-3% above FD returns, but that is all you should expect over a long term. 

When to Invest? 

As it is observed that the equity exposure is already controlled by the fund itself, you can actually invest anytime you want. There is no need to time the market, because the fund itself times the market internally. There are no issues if you want to put lump sum or SIP. 

Who should not invest? 

An investor who wants higher return potential and can take the higher volatility, should not be ideally investing in these funds. However, if you are unsure of the markets levels and want to play safe, you can invest lump sum in balanced advantage fund and thensetup a STP (Systematic transfer plan) to an equity fund. This will reduce the risk to some extent.

Important : Don’t confuse this category of funds with “Balanced Funds”. Balanced Funds are those mutual funds which have mix of equity and debt in their portfolio with equity exposure of around 65-70% and rest Debt.

A good choice for Retired Investors

These kind of mutual funds are very good choice for retired investors who want returns better than the fixed instruments and at the same time, can’t handle too much volatility in their portfolio. So some part of their portfolio can surely be invested in balanced advantage or dynamic asset allocation funds (same thing, but different name)

If you want to invest in balanced advantage mutual funds, you can Empathee Solutions - connected with Largest Mutual Fund Platform in India to know the process and get a well designed portfolio.

Let me know if you have any questions regarding this fund of mutual fund? Was it clear enough?

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Zero risk tool for Tax saving ... + Wealth Creation Tips to beat inflation

Basics of the PPF (Public Provident Fund) : Here we look at how PPF must be viewed in conjunction with your portfolio. 

It has the potential to give exponential returns over time, but it requires patience. Also, the larger the amount you invest, the greater the impact of compounding. 

After all, 7% on Rs 1,50,000 gives you much more than 7% on Rs 500. Now look at this cumulative impact over 15 years.

 

1) Let compounding work for you.

Though the PPF has a duration of 15 years, the first year is not taken into consideration when looking at the maturity of the account. The end of the financial year in which the deposit was made is what matters. So, if you opened the account on September 15, 2020, the 15-year tenure will commence from the end of FY2020-21 (March 31, 2021). That means it would have matured on March 31, 2036. Let’s say you invested Rs 1.50 lakh on September 15, 2020 and since then, Rs 1.50 lakh every single financial year on April 1. Over these 16 years, you would have invested Rs 24 lakh. At present on a return of approx. 7% per annum, it would amount to over Rs 49 lakh on maturity.  

This entire lumpsum is tax free. All the interest earned is also tax free. 

This forced saving (mandatory amount every year ranging from Rs 500 to Rs 1,50,000) makes it an excellent long-term savings tool. This tool is used for my retirement savings. If you have a little child, maybe you can position it as a savings for the child’s higher education. Whatever be the goal, have a long-term perspective in mind.

 

2) Make it work in your favour.

The money in your PPF account is compounded annually and credited to your account at the end of the financial year. The interest is computed monthly. It is calculated on the lowest amount between the 5th of the month, and the last day of the month. So to let the principle of compounding work on your behalf, deposit the entire amount – Rs 1.50 lakh before the fifth of April, every single year. Of course, the exact amount you will invest is a personal choice. If you are not able to afford a lump-sum, the PPF allows you to invest in installments. Try and put your money before the 5th of the month.

 

3) Use it as part of your debt allocation.

Over the weekend, a family member informed me that the cumulative amount in the PPF accounts of her and her husband totaled around Rs 80 lakh. She was really happy about it. This is a couple who does not understand debt funds but was looking for a safe, long-term fixed return investment. They decided to opt for this PPF. They also decided to extend it on maturity till they really needed the money post retirement. A colleague who is a fund analyst told me that the PPF has no place in his portfolio because the debt allocation is taken care of by debt mutual funds. He has various other ways of reaching the Section 80C limit of Rs 1,50,000 (interest paid on home loan, tuition fees of children, life insurance premium and contribution to Employee Provident Fund). On the other hand, though I invest in debt funds, I use the PPF as part of my debt asset allocation and invest in it every single year.

 

4) Be objective.

It may not be for you. If you are contributing to EPF and VPF, you could bypass the PPF. A friend of mine, who is a government employee. He said that by 2040, he should have Rs 1.2 crore in his General Provident Fund and Rs 20 lakh as gratuity. He will also be getting a pension of Rs 80,000 per month. In his case, a PPF would not help but investing in an equity linked savings scheme, or

 

ELSS, would be a better tax investment

 

Let us take a case of a consultant/entrepreneur : In his entire career spanning 22 years, only three were as a salaried individual. For him, cash flow was not a given, as it would be in the case of an individual earning a monthly salary. He saw no point in locking up money for an extremely long duration which could not be easily accessed. Another investor pointed out that PPF made sense at one point in his life. But now his contribution to the EPF and VPF and insurance premiums have enabled him to max the Section 80C limit. So once the account matured, he opted out of it. When I asked some of my colleagues if they have a PPF account, almost all who I approached admitted to having one, though their levels of enthusiasm and commitment to parking Rs 1.5 lakh per annum were mixed. I view PPF as a great debt product which is high on safety and super tax benefits. 

Think about it, putting away money for 15 years with a guaranteed return that is tax-free and risk-free. Who would not want to opt for it? But being a great product does not imply that it is a natural fit in any portfolio. Does it find a strategic place in your portfolio? Does it fit in with your financial plan? 

If yes, Go for it. 

 

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Dozen most common tax saving mistakes. Must read

It's Financial year end ... March approaching. ..Don't commit these Tax saving mistakes however tempting.. Be financially literate.

You are trying to save tax at last moment. An Insurance Agent in the guise of investment advisor calls you, asks for appointment. You are in last minute hurry.... You listen to him/her shortly and handover a cheque immediately.

The less tax you pay, the more disposable income in your hands. That is good enough reason to take your tax saving exercise seriously. But all too often, it is a mad rush to meet our March 31 deadline. And in doing so, we make some grievous errors by padding our portfolio with investments that could be well avoided.

Here’s how to sidestep that trap laid by cunning insurance advisors. Remember this is a landmine.

1.  Not exhausting all the tax saving avenues.  

The investments in Public Provident Fund (PPF), National Savings Certificate (NSC), 5-year fixed deposits with the bank or post office, Equity Linked Savings Schemes (ELSS), Senior Citizen Savings Scheme (SCSS), National Pension Scheme (NPS), and Sukanya Samriddhi (specifically for the girl child) all fall under Section 80C. Certain expenses also fall under this section. Do cover all in your checklist.

Do not forget that you get a benefit when you pay rent. Also, interest paid on home loans qualify.

Look at Section 80CCC (included under the Section 80C limit), which includes the money spent on the purchase of a new policy or payments made towards renewal or continuation of an existing policy. The primary condition for availing this exemption is that the policy for which the money has been spent must be providing a pension or a periodical annuity.

Section 80D allows a deduction up to Rs 25,000 for medical insurance premium installments. The premium should be for you, your spouse, and dependent children.

2. One product approach

If one looks at tax saving as a cumbersome exercise to be gotten rid of at the end of the financial year, then there is a high likelihood of investing the entire eligible amount in one investment vehicle without considering one’s financial goals and risk appetite.

3. Section 80C is only about investing 

Section 80C allows you to claim a deduction of up to Rs 1.5 lakh of your total income under this section. In simple terms, you can reduce up to Rs 1,50,000 from your total taxable income.

All the investments mentioned above fall under this umbrella.

But Section 80C also includes tax-deductible expenses. Payment of life insurance premium and tuition fees for children are two expenses you must look at. The third expense is the repayment of the principal amount of a home loan. This deduction is also applicable on stamp duty, registration fees and transfer expenses. 

4. Insurance premium up to Rs 1.50 lakh can be claimed as a deduction.

The annual premium paid for life insurance is available for a deduction ONLY if the policy is in the name of:

• Taxpayer
• Taxpayer’s spouse
• Taxpayer’s children

The limit for the deduction is restricted to 20% of capital sum assured in respect of policies issued on or before March 31, 2012, and 10% in case of policies issued on or after April 1, 2012.

In case of policies taken on or after April 1, 2013, in the name of any person suffering from a disability or severe disability referred to in section 80U or suffering from disease or ailment as given in section 80DDB, the limit will be 15% of capital sum assured. Read more on this on the Income Tax website.

5. Buying endowment insurance plans

Endowment plans are a mix insurance and investment and tend to be costlier than term plans. Further, returns on endowment policies are low and cost structure relatively less transparent which undermines its utility as an investment vehicle. Since it’s a bundled product, insurance cover provided by it is lower and results in inadequate cover. Instead, it is advisable to buy term insurance with adequate coverage considering your age, income, dependents and existing wealth.

Investing too much in endowment plans : When you walk in to a Bank or ask your insurance agent for tax saving schemes they always recommend endowment life insurance plans since they earn highest commission @ 35% of first year premium and 5% on subsequent year premiums, hence they tend to convince you by hook or crook as if they are the only well wishers of you in the world. 

6. Lack of awareness about multi-year commitments

Certain products like ULIPs, endowment insurance plans etc involve multi-year commitments. Any failure to pay premiums in subsequent years results in revocation of the policy. Investors, at times, are unaware about this aspect. 

Note: These plans are of very long term usually in the range of 10 to 20 years hence you need to keep investing. If you redeem or fail to pay regular premium you are doomed. You will not even get your initial investment back. It is Win - Loose situation. Because if you redeem or lapse policy Company will be in profit.. Agent will be in profit.. A classic example - most of the insurance companies have thousands of lapsed policies. Ultimately the remaining amount is appropriated in their profits after mandatory period. Hence they are least bothered about follow up with custmer, besides formal reminders.

Even if you pay premiums religiously, till policy term. At maturity average returns will not be more than 6% to 7%

7. All tuition fees are permitted.

When the word tuition is used, it is the fee paid for a full-time course to any school, college, university or educational institute situated in India. It is not private, out-of-school tuition. Neither is it for fees paid abroad. The caveat being that it is limited to two children only.

8. Tax-saving investments are a must.

NO.

• First, look at the expenses permitted under Section 80C: principal home loans payments, life insurance premiums and children’s tuition fees.
• If you have not maxed the Rs 1.50 lakh limit with the above payments, then move on to check your provident fund contribution under EPF.
• Only if you still have not hit the Rs 1.50 lakh limit under Section 80C, should you consider any other investment (such as PPF, NSC, ELSS or 5-year bank deposits) to save tax.

Contributions to the Employee Provident Fund (EPF) are covered under the Section 80C limit. This is a retirement benefit scheme that is available to salaried employees; 12% of basic salary is deducted by an employer and deposited in the EPF. Your provident fund contribution accumulated over the current financial year itself might add up to a sizeable amount.

This is all the more relevant in the case of Voluntary Provident Fund (VPF). Here, the contributor decides on the amount of fixed contribution that is made towards the scheme on a monthly basis. Under the VPF, employees are allowed to make contributions towards their provident fund account on a voluntary basis. The scheme does not include the mandatory 12% that the employee makes towards the EPF.

9. Tax saving is about fixed-return instruments.

The SCSS, 5-year bank deposits, NSC and PPF are all fixed-return investments. But under the tax-saving umbrella, there are also ULIPs, ELSS, and the NPS, all of which provide an equity exposure.

This is why you must always approach tax planning from the perspective of your overall portfolio. Your personal tax strategy will have a different meaning and emphasis depending upon your circumstances and risk capability. For instance, if your portfolio is heavily tilted towards fixed income instruments, it would not be wise to opt for an investment in NSC. 

10. Shying away from equity

Ignoring lock-in period : Investments in ULIPs, PPF, endowment policies have longer lock in period as compared to ELSS. Ignoring lock in period of tax saving investments can throw your financial plan into disarray

Thinking solely about tax saving without thinking about wealth creation : Tax-saving investments which save tax and have an element of investment are supposed to create wealth. As simple as this statement may sound, this fact is lost on most investors, which they should be mindful.

Although equities are volatile in short term, they yield higher returns in the long term and outperform other asset classes. Shying away from equities hampers your ability to generate adequate wealth in the long run. Since ELSS returns are impacted by volatility in equities, it is advisable to invest in ELSS (Equity Linked Saving Scheme) through the SIP route to benefit from rupee cost averaging. So, consider an ELSS.

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11. Viewing tax planning in isolation.

Good tax management (saving and investing) can go a long way toward enhancing your return. But the decision needs to be made in conjunction with your overall portfolio and not in an ad-hoc fashion.

Most individuals rarely think about tax planning from an investment point of view. Hence one finds that they do not approach an investment with a perspective of whether or not it fits in with their overall portfolio. The approach is often just grabbing up investments that will give them the tax break, irrespective of whether or not it will help them reach their determined financial goals or fit into an overall investment strategy.

As a result, it is not surprising to see portfolios heavily skewed towards ULIPs or endowment plans. Or probably packed with NSC, in addition to their EPF and PPF. Tax planning investments are no different from conventional investments. Hence, it is imperative to obtain an in-depth understanding of all investment avenues available which offer tax benefits and choose suitable ones that will help save tax and achieve goals.

• When selling an investment, ask: What are the tax consequences?
• When buying an investment, ask: What are the portfolio consequences/impact of this current addition? 
  

Not thinking beyond 80C : Apart from 80C, there are other sections like Section 80D (Mediclaim), Section 80G (Donations to charitable organization), and Section 80CCD (National Pension Scheme), which taxpayers are usually unaware of. They should, therefore, try to make the most of them to save tax.

While you may have missed the bus when it comes to planning your tax-saving investments in advance for this financial year, you can certainly avoid these common mistakes by putting some thought into this and avoid regrettable investing decisions

12. Tax saving is a last minute exercise.

If you are doing your tax planning now, this is a mistake you have already made. Do rectify this going ahead.

You should invest in PPF at the very start of the financial year to avail of the benefit of compounding. If investing in an ELSS, it is wise to do so via a systematic investment plan (SIP) from April onwards. Do remember that SIPs are implemented for a minimum of 6 months or 12 months (though you can terminate it anytime).

You are most prone to making the wrong investment when it is done in a tearing hurry, with the March 31 deadline looming menacingly. Plan. If you want your money to work towards one goal, which is creating wealth, ensure that you approach it in an orderly fashion.

Your investment plan must be proactive, not reactive. By this I mean that tax saving should be in sync with the overall strategy and not a hurried exercise at the fag end of the financial year, where you pick up anything simply because you don’t know what else to do. Tax optimisation of individual financial products has to be the last step in the overall financial plan and not the basis for selection.

Using contingency funds for tax-saving investments : The last-minute investments to save taxes put pressure on the finances of many individuals, especially those who have just started their career. In an effort to make the most of tax deductions, people commit a cardinal mistake of using their contingency funds for this purpose.

From Next Financial year start it from April itself. Buy Life insurance for Protection not for saving Tax.

For this start SIP in ELSS for long term and create wealth along-with tax saving.

 Visit and open E-Wealth Account today.

 Leave doubts in comment box.

Science and Art of reading Balance Sheet

 

EVER so often, I have been posed the question, "How does one go about reading a balance sheet"? The answer could be as easy or as complicated as the answer to "How do you drive an automobile?"

 

As in the case of driving, there is a learning process which incorporates some basic know how....in much the same way, a certain know how is involved in analysing a balance sheet.

 

However beyond a point it is a question of developing one's own style and approach to analysing a balance sheet.This attempt (or any attempt for that matter) to enumerate the steps involved in reading a balance sheet can only initiate a novice into the process. 

 

Beyond a point every reader would have to evolve his own style and approach much as a driver of an automobile (once he has gone beyond the stage of Successfully putting the automobile into motion and controlling it) soon develops his own "touch". 

Fusion of science and art

Reading a balance sheet is a science and an art and the dexterous reader is one who blends the two well. Undue reliance on the textbook and measurement approach could lead to the same judgmental erors that statisticians find so irksome: the spurious co-relation (Research over the last twenty years indicate a positive co-relation between the fertility of tribal women in Papua New Guinea and rainfall in the hilly

regions of Haiti). On the other hand, an approach which ignores the ratios and measurements and

relies only on reading "in between the lines" is like playing a game of poker without looking at one's cards.

Anatomy and dissection of a Balance Sheet

1. Notice of AGM :

The discerning reader would look closely at the "explanatory statements to the special resolutions that are sought to be passed at the AGM. Largely, the explanatory statements are drafted in non-legal language giving the rationale or background to special resolution(s) sought to be passed at the AGM.

 

Cues

- Look out for anything out of the ordinary in the explanatory statement since this is an area where far reaching changes are often couched.

2. Director's report :

This is the management's encapsulation of the company's performance for the year/period under review. The Director's report is comprised of the issues that the report is statutorily required to cover such as answers to the qualifications made by the auditors in their report, the report on technology absorption,

recommendation of dividend payout, retirement and proposed appointment of Directors and Auditors, a separate statement on the salaries, age, qualification and previous employment of employees drawing remuneration above a certain amount etc.

 

Cues

* A proper reading of the Directors report will set the "mood" to the analysis of the balance sheet.

* A lot of inferences can be drawn on the ethos and the values of the company' management from the

non-statutory areas covered by the Directors report. A report that sticks to the bare statutory issues is

also reflective of the management's attitude to its shareholders.

* There is more than meets the eye in the case of Auditors retiring at the AGM and not seeking re-appointment.(I have yet to come across an Auditor who is in the retirement business).

* Look out for changes in directors. These could be the first signals of a management shift.

3. Statement of sources and application of funds (the Balance sheet) :

In the good old days there was in voguc the "Horizontal Form" of the Balance sheet with the. right

handside depicting the assets of the company (now application of funds) and the left hand side the

liabilities (now sources of funds). The excess of the assets over the liabilities represented the shareholder's funds (net worth).

 

Cues

* Net worth - this basically indicates the size of the company in terms of the wealth that jt owns

"Reserves to Equity" ratio which indicates the inherent "Reserves: Strength of the company. However

"revaluation resources" and "share premium which are not in the nature of "earnings ploughed back"

need to be excluded.

* Debt/Equity ratio: A very high or a very low Debt/Equity ratio are both not very positive indicators. Ahigh Debt/Equity ratio, (say beyond 1:5 for most industries) would signify heavy borrowings which would then need to be analysed in respect of the uses of the borrowed funds- Has the money gone to fund losses, to fund working capital or to build assets?

* A very low gearing (Debt/Equity ratio) could indicate either a very passive management which is not making the shareholders funds work hard enough or could indicate a situation where costly Equity funds have been used, in lieu of cheaper Debt funds to fund the company's business which once again would not be very "healthy for the company in the long run.

* Quick ratio: Current Assets (except loans and advances)/current liabilities (except tax provision). This ratiodoes remain one of the important indicators of the short term solvency and liquidity of the company.

* Fixed assets: Look out for hidden resources say, in the form of Land/Building not currently in use by the company (say residential premises) where the book value is substantially below the current market value. Likewise watch out for intangible assets such as Goodwill and assets taken on Hire Purchase which are, strictly speaking not owned by the company, as yet.

* Investments : In case of investments in quoted instruments, the difference between the market value and the book value would represent hidden profit/losses which need to be considered.

* Loans and advances: Large loans given to group companies or subsidiaries etc. could indicate diversion of company's funds into uses which may not be generating suitable returns.

* Miscellaneous expenditure (to the extent not written off or adjusted): This head is increasingly

becoming the favorite playground for the creative accountant where expenses with debatable future 

value (such as launch advertising or research expenses) are parked.

 

Hence this head would also merit closer scrutiny by astute balance sheet readers.

4. Notes to accounts

This most ignored and "skipped over part of the Balance Sheet is often the most interesting. Within the notes to accounts, there are the mandatory areas" which has to be covered as also the special elucidations/qualifications to the accounts that the management deems necessary.

The Art of reading a Balance Sheet

Having come to grips with the science, it is now the time for the reader to graduate to the Art. This is largely a function of time and "Balance Sheet Hours" (like "Flying Hours"). It is the art of reading in between the lines, the art of juxtaposing a comment here with a figure there and inferring the "Big Picture", the art of developing industry perspectives thereby adding much more meaning to the Balance Sheet figures and so on and so forth.

 

It is the art developing your own "Golden Rules to reading a Balance Sheet".

 

Here are some:

- Reading Balance Sheets is all about reading the unwritten.

- Other things being equal, favour the Balance Sheet with the least number of colour photographs.

- A Balance Sheet which fails to conjure up an image of the Company has failed to make its point.

- Be wary of Balance Sheets with blown up photographs of Directors and Presidents; it does reflect a bloated Corporate ego.

- A Balance Sheet is a Historical Document; one cannot see the Future through a rear view mirror.

- A Abridged Balance Sheet to a savvy reader is what the game of "Cut Throat" is to a Bridge Player.

 

To cap up this piece here's an experiment conducted in 90's by a Swedish Tabloid (and as reported in an issue of TIME Magazine)):

Five leading analyst were given S 16,000 each and a one eyed chimpanzee was given five darts to stick on a list of companies. Two months down the line the chimp's picks made a profit of $ 270 against $ 240 of his closest human rival.

 

So apart from attempting to read Balance Sheets, do eat more bananas and close one eye while throwing dart.

सावध हरिणी सावध गं .. गुंतवणूक सल्लागार अपॉइंटमेंट द्या म्हणून मागे लागलाय... नक्की वाचा... अर्थ साक्षर व्हा.

नवीन वर्ष सुरू झाले. आपण आनंदात असतो तेवढयात फोन वाजतो. 

1. पलीकडून एक सुरेल गोड आवाजात मुलगी बोलत असते. अनेक गुंतवणुकीच्या योजना सांगून भुरळ पाडत असते. 

2. गुंतवणुकीसाठी आपल्या ओळखीचा, मित्राचा मित्र जवळची व्यक्ती किंवा आपल्या बॉस किंवा  ज्यांना आपण मानतो अशा व्यक्तींचा रेफरन्स देवून आपली अपॉईंटमेंट मागतो.

सावध व्हा..

गुंतवणूक (Investment) आणि विमा (Insurance) फरक जाणून घ्या 

विमा व गुंतवणूक यांची गल्लत करु नका.

१. विमा हे गुंतवणूकीचे साधन केव्हाही होत नाही.

२. विमा कंपन्यांचे पेंशन प्लान घेण्याऐवजी कोणत्याही गुंतवणूक साधनात गुंतवणूक नियमीतपणे करत रहा व निवृत्तीनंतर मिळणारी रक्कम चांगल्या साधनात गुंतवून उर्वरीत आयुष्य सुखासमाधानात घालवा.

३. विमा हा तुमची गरज म्हणूनच घ्या, तुमचा मित्र, नातेवाईक, परिचीत विमा एजंट झालेला आहे, त्याला कसे दुखवायचं म्हणून अजिबात घेऊ नका, त्याला अन्य प्रकारे मदत करा पण त्याच्याकडून कोणतीही विमा पॉलीसी घेऊन फसू नका.

४. विमा एजंट पिच्छा पुरवतअसतात व प्रभावी व्यक्तींना रेफरंस मागत असतात. त्यामुळे बऱ्याच वेळा अशा व्यक्ती ब्याद टाळण्यासाठी नंबर देतात, त्यात तुमचा नंबर असू शकतो.

विमा का घ्यावा व त्याची गरज

माणसाच्या जिवनात अनेक घटना अनिश्र्चितपणे घडतात. त्या कधी घडतील हे कोणीच सांगू शकत नाही. मात्र जर का आपण योग्य वयात, शक्यतो आपला प्रमुख उत्पन्नाचा स्त्रोत सुरु झाल्यावर लगेचच खालील प्रकाचे विमा संरक्षण घेतले तर त्या वेळेला वय कमी असल्यामुळे विम्याचा हप्ता कमी पडतो व उर्वरीत रक्कम आपल्या जोखीम स्विकारण्याच्या तयारी नुसार योग्य त्या गुंतवणूक साधनात नियमीतपणे (शक्यतो दर महा) दिर्घ काळासाठी गुंतवावी म्हणजे जिवनातील कोणत्याही प्रसंगाला सामोरे जाणे सुलभ होईल.

विमा प्रत्येकानेच खालील प्रमाणे घ्यावा:

१)      जिवन विमा: हा टर्म इंशुरन्सचे माध्यमातूनच घ्यावा. ज्याना शक्य आहे त्यानी तो ऑनलाईनच खरेदी करावा ज्यामुळे सर्वात कमी हप्ता भरावा लागतो, कारण यात एजंट नसल्यामुळे त्याच्या कमिशनचा खर्च वाचतो. विमा हा आपल्या वार्षीक उत्पन्नाच्या किमान १० पट घ्यावा. इंशुरन्स कंपनीकडून जेवढे जास्तीत जास्त विमा संरक्षण मिळू शकत असेल तेवढे घ्यावे. विम्याची मुदत जास्तीत जास्त घ्यावी (किमान ३० वर्षे तरी असावी). ३० वर्षाचे व्यक्तीला वार्षीक सरासरी रु.६०००/- हप्ता भरुन रु.५० लाखाचे विमा संरक्षण प्राप्त होते (ऑनलाईन).

२)      मेडिक्लेम: प्रत्येकाने हेल्थ इंशुरन्स घेणे अत्यावश्यकच आहे कारण कोणत्या प्रकारचा आजार कधी उद्भवेल हे सांगता येत नाही. साधारणपणे किमान रु.५ ते १० लाखाचे संरक्षण प्रत्येक व्यक्तीचे असावे. यासाठी अल्पदरात योजना आहेत ( यासााठी रु.१० लाखापर्यंतचे उपचार मिळू शकतात. तसेच टर्म इंशुरन्स घेतानाच यासाठी स्वतंत्र रायडरव्दारे असा विमा थोडा अधिक हप्ता भरुन मिळू शकतो.

३)  अपघात विमा: अपघात काही सांगून होत नाही म्हणून प्रत्येकाने हा अवश्य घ्यावा, अत्यंत कमी हप्ता भरुन अशा प्रकारचा विमा मिळतो.

४)  कर्जफेडीचा विमा: जेव्हा आपण गृह कर्ज, वाहन कर्ज घेतो तेव्हा मुदतीपुर्वी कर्जदाराचा मृत्यु झाल्यास वारसाना उर्वरीत कर्जाचे हप्ते न भरता त्या मालमत्तेचा ताबा निर्वेधपणे मिळण्यासाठी या प्रकारचा विमा अवश्य घ्यावा. यासाठी कर्ज घेतानाच बँकेतच याबाबत चौकशी करावी. तसेच बँक शक्यतो अशा प्रकारे विमा स्वतः करते.

५)  कायमस्वरुपी अपंगत्व विमा: कोणत्याही कारणाने शारीरीक अपंगत्व आल्यास असा विमा उपयुक्त होतो. टर्म इंशुरन्स घेतानाच यासाठी स्वतंत्र रायडरव्दारे असा विमा थोडा अधिक हप्ता भरुन मिळू शकतो.

६)   भविष्यातील विमा हप्ते माफ होण्याची सुविधा: टर्म इंशुरन्स घेतानाच यासाठी स्वतंत्र रायडरव्दारे असा विमा थोडा अधिक हप्ता भरुन मिळू शकतो ज्यामुळे कायम स्वरुपी अपंगत्व आल्यास पुढील हप्ते न भरताही जिवन विमा संरक्षण पुढे चालू राहते.

७)  ट्रँव्हल इंशुरन्स: कोणत्याही सहलीला जाताना या प्रकारे विमा संरक्षण मिळू शकते.

८)   उत्पन्न रायडर: जिवन विम्यासोबत मिळू शकते, विमा धारकाचा मृत्यु झाल्यास वारसाला उर्वरीत मुदतीचे काळात विमा संरक्षणाचे १०% एवढी रक्कम दर वर्षी मिळत रहाते.

९)   वाहन विमा: हा प्रत्येक वाहन मालकाला घेणे बंधनकारकच आहे.

१०)  मालमत्ता विमा: जसे कि घराचा विमा घेतल्यास दुर्दैवाने घराला कोणत्याही कारणाने धोका निर्माण झाल्यास झालेले नुकसान भरुन मिळते, ज्यामुळे नविन घर बांधणे सुलभ होते.

११)   चोरीचा विमा: चोरीपासून झालेले नुकसान भरुन मिळते.

१२) फायर, फ्लड इ. विमा: आग, पूर इ. कारणामुळे झालेले नुकसान भरुन मिळते.

विमा घेताना काय काळजी घ्याल?

आजकाल अनेक विमा कंपन्या बाजारात कार्यरत आहेत म्हणून कोणत्याही प्रकारचे विमा संरक्षण घेताना उपलब्ध सारे पर्याय तपासून पहा.

१)  ज्या कंपनीचा सर्वात कमी हप्ता असेल त्या कंपनीची विमा योजना निवडा.

२)  विमा घेताना सर्व अटी समजून मगच विमा घ्या म्हणजे नंतर पस्तावण्याची वेळ येणार नाही.

३)   क्लेमबाबत पुर्ण माहिती घ्या.

४)   कोणकोणत्या बाबींसाठी क्लेम मिळणार आहे व कोणत्या कारणांमुळे तो मिळणार नाही हे चेक देण्यापुर्वीच तपासून पहा.

५)  जिवन विमा घेताना फक्त टर्म इंशुरन्सचे माध्यमातूनच घ्या कारण जिवन विम्याचा हा सर्वाधिक स्वस्त पर्याय आहे.

६)   विमा व गुंतवणूक यांची गल्लत करु नका.

७)   विमा हे गुंतवणूकीचे साधन केव्हाही होत नाही.

८) विमा कंपन्यांचे पेंशन प्लान घेण्याऐवजी कोणत्याही गुंतवणूक साधनात गुंतवणूक नियमीतपणे करत रहा व निवृत्तीनंतर मिळणारी रक्कम चांगल्या साधनात गुंतवून उर्वरीत आयुष्य सुखासमाधानात घालवा.

९)  विमा हा तुमची गरज म्हणूनच घ्या, तुमचा मित्र, नातेवाईक, परिचीत विमा एजंट झालेला आहे म्हणून अजिबात घेऊ नका, त्याला अन्य प्रकारे मदत करा पण त्याच्याकडून कोणतीही विमा पॉलीसी घेऊन फसू नका.

१०) विमा एजंटमार्फत घेत असताना तो एजंट कायम स्वरुपी तुम्हाला सेवा देऊ शकेल याची खात्री करुन घ्या, शक्यतोवर तो हा व्यवसाय प्रामाणिकपणे व कायमस्वरुपी करणारा असावा.

११) कोणत्याही परिस्थितीत युलीपचा प्लान (ULIP V/s Mutual Fund) न घेणे हाच शहाणपणा आहे. याला उत्तम पर्याय म्हणजे दिर्घ मुदतीसाठी टर्म इंशुरन्स व म्युच्युअल फंडाचे कॉम्बीनेशन करा, तुमचा फायदाच होईल.

१२)  आपल्या बचतीपैकी थोडी तरी रक्कम अवश्य म्युच्युअल फंडाचे एखाद्या चांगल्या समभाग योजनेत नियमीत दर महा जास्तीत जास्त काळासाठी गुंतवा, यातूनच संपत्ती निर्माण होईल, जी भविष्यातील तुमच्या अनेक गरजा पुर्ण करण्यास मदत करेल

जीवन विमा पॉलीसी किती रकमेची विकत घ्यावी ?

स्वतःसाठी जेव्हा तुम्हाला जीवन विमा संरक्षण पॉलीसी घेण्याची वेळ येईल तेव्हा प्रथम तुम्हाला किती जीवन विमा संरक्षण हवे आहे ते निश्चित करा त्यानंतर सर्वात कमी खर्चिक ‘टर्म प्लान’ निवडा जो तुमची गरज भागवू शकेल......

तुम्हाला किती विमा रकमेची गरज आहे हा प्रश्न पडतो तेव्हा लोक फारसा विचार न करता काहीतरी एखादी रक्कम सांगतात आणि मला एव्हडे विमा संरक्षण पुरेसे होईल असे म्हणतात. 

यापेक्षा भयावह गोष्ट म्हणजे बरीच सर्व सामान्य माणसे त्यांच्या विमा एजंटलाच सांगतात कि मी कोणती पॉलीसी घेऊ व किती रकमेचा विमा घेऊ ते तूच ठरव. तुमचे जीवन विमा संरक्षण ठरवणे हा एक महत्वाचा निर्णय घेण्याची हि अत्यंत चुकीची पद्धत आहे.

खर म्हणजे यासाठी तुम्ही प्रथम तुमच्या भावना बाजूला ठेऊन तुमचे विम्याचे नियोजन काळजीपूर्वक जर तुमचे अकाली निधन झाले तर तुमच्यावर अवलंबून पाठी रहाणा सर्व वर्षांची भविष्यातील सर्व आर्थिक गरजा ज्या रकमेतून दीर्घ काळ किंवा तुमच्या वारसाचा कायम उत्पन्नाचा स्त्रोत निर्माण होईपर्यंत सर्व आर्थिक गरजा भागवू शकेल एवढ्या रकमेचे जीवन विमा संरक्षण तुमच्यासाठी आवश्यक असते. हे करताना जर आपल्या मुलाचे दोन्ही पालक (आई व वडील) एकाच वेळी अपघातात मृत्यू पावले तर त्या लहानग्यांची काळजी ते उत्तम शिक्षण घेऊन सज्ञान होऊन चांगली नोकरी अथवा धंदा करून पुरेसे उत्पन्न मिळवू लागेपर्यंत त्या पैशातून येणारे व्याजातून त्यांचे सर्व खर्च भागू शकतील एवढी ताकद मिळणाऱ्या विमा संरक्षण रकमेत असली पाहिजे. दोघाचा एकत्र मृत्यू येण्याची शक्यता जरी कमी असली तरी अश्या अनेक या पूर्वी झालेल्या घटना तुम्ही पाहिलेल्या असू शकतात आणि म्हणूनच हि शक्यता विमा घेताना गृहीत धरणे अत्यावशक आहे.  आणि अशी अपवादात्मक घटना फारच गंभीर असते. विमा घेताना ज्या बाबी विचारात घेतल्या पाहिजेत त्या काही खाली देण्याचा प्रयत्न करत आहे.

निवृत्त होण्यासाठी किती कालावधी बाकी आहे:  

तुम्ही तुमची टर्म इन्शुरन्स प्लानच्या विम्याची रक्कम ठरवण्यापूर्वी तुम्हाला निवृत्त होण्यासाठी काळ उरला आहे हे विचारात घेतलेच पाहिजे तसेच महागाईचा दर विचारात घेऊन अचानक मृत्यु झाल्यास किती रक्कम वारसाला मिळाली पाहिजे हेही ठरवणे आवश्यक आहे. निवृत्तीचा कालावधी विचारात घेताना फक्त आपल्या नोकरी किंवा व्यवसायातून निवृत्ती घेण्यासाठी किती वर्षे उरली आहेत एव्हढेच विचारात घ्यायचे नाही तर किती कालापार्यात तुमच्यावर अवलंबून असणारी माणसे किती वर्षे तुमच्यावर अवलंबून असणार असतील हेही विचारत घेतले पाहिजे. एकदा का तुम्हाला समजले कि किती वर्षे त्यांना तुमच्या कडून आर्थिक साह्याची गरज आहे कि तुम्हाला तुमची विम्याची रक्कम व विम्याची मुदत किती असावी हे ठरवणे सोपे जाईल. उदा. जर का तुम्ही वरील हिशोबाने अजून ३० वर्षाने निवृत्त होणार असाल तर तुमच्या विम्याची मुदत किमान ३० वर्षे असावयास हवी. थोडक्यात जोपर्यंत तुमच्या घरातील एखादी व्यक्ती तुमची आर्थिक जबाबदारीची जागा घेऊ शकण्यास सक्षम होण्यासाठी जितकी वर्षे बाकी असतील तेव्हड्या वर्षासाठी तुम्ही insured असले पाहिजेत.

कर्जे आणि दाइत्वे: ज्यावेळी तुम्ही कोणत्याही प्रकारची कर्जे घेता तेव्हाच त्या कर्जाच्या परतफेडीची काळजी घेणारा संबधित insurance अवश्य घ्या जेणे करून तुमचा अकाली मृत्यू झाल्यास ते कर्ज परस्पर विमा रकमेतून फेडले जाईल. जर तुम्ही होम लोन घेतले असेल तर संबधित बँक किंवा संस्था तुमचा होम इन्शुरन्स घेतच असते पण जर तो तसा घेतला गेला नसेल तर तुम्ही तो घ्या. अन्य कर्जे सुधा याच प्रकारे सुरक्षित करा. हि कर्जे तुम्ही तुमचा टर्म इन्शुरन्स प्लान मध्ये सुद्धा समाविष्ट करून घेऊ शकता मात्र हे करताना विमा कंपनी परस्पर कर्ज देणाऱ्या संस्थेला उर्वरित कर्जाची रक्कम देईल अशी व्यवस्था करून घ्यावी जेणे करून वारसांना कर्ज पुढे चालू ठेवण्याचा मोह होणार नाही. हे करताना तुम्ही जर काही असुरक्षित कर्जे जशी कि क्रेडीट कार्ड वगैरेची घेतलेली असतील तर त्यांची सोय या विम्यात करण्याची गरज नाही कारण ज्यांनी credit card (क्रेडीट कार्ड) दिले आहे ते तुमच्या वारसा कडून त्याची देय रक्कम कायदेशीर दृष्ट्या वसूल करू शकत नाहीत. याच प्रमाणे जर तुम्ही एखादी गाडी कर्ज घेऊन घेतली आहे तर त्याचीही विमा रकमेत समावेश करण्याची गरज नाही जर तुम्हाला असे वाटत असेल कि तुमच्या पश्चात तुमचे वारस तसेही ते वाहन वापरण्यास सक्षम नाहीत. याचे उदिष्ट विमा हप्ता कमीत कमी ठेवणे हा असला पाहिजे.

महागाईचा दर:  दर वर्षी सरासरी ७% दराने महागाई वाढत असते हे विचारात घेणे अत्यावश्यक आहे ज्यामुळे तुम्हाला तुमच्या विम्याची रक्कम ठरवणे सोपे जाईल.

शिक्षण: तुमच्या मुलांचे शिक्षण कोणत्याही परिस्थितीत पूर्ण होण्याची आवशकता असते यासाठी काही टर्म इन्शुरन्स योजना असतात त्यातील एकाची अवश्य निवड करावी पण ती अशी नसावी कि जर तुम्ही हयाद असाल तर तुम्हाला त्यातून पैसे मिळतील (कारण उगाच जास्त हप्ता बसेल), हि पोलिसी घेतानाच सोबत एखादी म्युचुअल फंडाची योजना अशी ग्यावी कि ज्यातून तुमच्या मुलाच्या शिक्षण पूर्ण होण्या इतकी रक्कम तुम्हाला मिळेल.

भविष्यातील खर्च: जर तुम्ही या जगात राहिला नाहीत तर दर महिना किती रक्कम तुमच्या वारसाला मिळाली पाहिजे हे, सोबत महागाईचा दर विचारात घेऊन ठरवा व ती रक्कम जर सुरक्षित साधनात गुंतवली तर कमीत कमी किती व्याज त्यावर मिळेल हेही विचारात घ्या. हे ठरवताना भविष्यात व्याजाचे दर कमी होऊ सतील हेही विचारात घ्या. जर तुमची पत्नी सध्या नोकरी किंवा व्यवसाय करत नसेल तर कदाचित तुमच्या पश्यात तिला ते करावे लागेल तर त्यासाटी काही गुंतवणुकीचीही रक्कम विचारात घ्या.

 

जीवन विम्याची रक्कम किती असावी याचे काही सामान्य नियम आहेत जसे कि जेव्हढे तुमचे वार्षिक उत्पन्न असते त्याच्या किमान १० ते १२ पट तुमचा विमा असावा पण हा नियम तुम्हाला लागू होईलच असे नाही कारण वर सांगितलेल्या बाबी विचारात घेतल्यानंत कदाचित यापेक्षा जास्त अथवा कमी रकमेच्या विम्याची तुमची गरज असू शकेल व ती अन्य कोणापेक्षाही तुम्ही स्वत:च जास्त चागली जाणू शकता.

विम्याची रक्कम हि काही बाबींवर अवलंबून असते त्या म्हणजे तुमची सध्याची जीवनशैली, कुटुंबाचे वार्षिक उत्पन्न, वार्षिक खर्च, सध्या तुम्ही केलेल्या गुंतवणुकीचे बाजारमूल्य, तुमची कर्जे – होम लोन शैक्षणीक कर्जे व शिक्षण वर होणारा भविष्यातील खर्च. ह्या सर्व गोष्टी विचारात घेतल्यानंतर जी संख्या येते ती तुमची ‘लाइफ व्हॅल्यू’ मानली जाते. बहुतांशी विमा काम्न्या ‘लाइफ व्हॅल्यू कॅलक्यलेटर’ त्याच्या वेब साईट वर देत असतात त्याचा जरूर वापर करावा.  मात्र हे विसरू नका कि आजच्या रुपयाची खरेदी क्षमता नेहमीच कमी होत असते.

आपले जीवन विमा संरक्षण निशित किती असावे हे ठरवणे अत्यंत महत्वाचे असते कारण जर ते गरजेपेक्षा जास्त घेतले तर उगाच जास्त हप्ता भरावा लागेल व तेव्हढी गुंतवणुकीची क्षमता कमी होईल व भविष्यात मिळणाऱ्या फायद्याला मुकावे लागेल व जर ते कमी असेल तर मिळणाऱ्या विमा संरक्षणातून कुटुंबाची गरज भागू शकणार नाही. बहुतांशी विमा उत्पादनात कमीत कमी व जास्तीत जास्त किती विमा संरक्षण मिळेल याचा उल्लेख असतो ते तपासून पाहणे अत्यावश्यक असते.

त्याच प्रमाणे कोणत्या विमा कंपनीचा टर्म इन्शुरन्स चा किती रकमेला किती हप्ता आहे हेही नीट तपासून पाहावे यामुळे कोणाचा हप्ता कमी आहे हे समजेल. तसेच त्या कंपनीचा क्लेम सेटलमेंट रेशो काय आहे हेही तपासा. काही योजना जास्त रकमेच्या विम्यावर डिस्काऊट देत असतात तेही पहा. मात्र काही वेळा हा डिस्काऊट जाहिरातीसाठी केलेली फसवी क्लुप्तीही असू शकते हे लक्षात ठेवा. हेच तर भावना बाजूला ठेवून अत्यंत काळजीपूर्वक व वास्तवावर आधारित केलेले विमा नियोजन असू शकते.  याच प्रमाणे आपले इच्छापत्र किंवा मृत्यू पत्र करणे हेही महत्वाचे असते हे लक्षात ठेवा. भारतात अनेक नावाजलेल्या उद्योगपतीनीही हे वेळीच न केल्यामुळे त्यांचे वारसांना कोर्टात भांडणे करावी लागलेली आहेत.

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