• Insurance Planning

    The Need For Insurance Planning

    "Insurance is not for the person who passes away, it is for those who survive," goes a popular saying that explains the importance of Insurance Planning.
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  • Children's Future Planning

    Children's Future Planning

    Like every parent, you too must be overjoyed to watch your child grow. All parents want to give the best possible upbringing to their children. This includes good education and security, in case of any eventuality. Read More

  • Retirement Planning

    Retirement is much a reality as much as its planning a neglected activity. Retirement planning continues to be ignored by most individuals.There is a lot more to retirement than just resting on an armchair and pla... Read More

  • Investment Counselling

    Investment planning is critical to reach your financial goals.  There is no one solution that works for all.  The right solution is the one that works for you and it is our job to discover such an investment strategy for you.

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  • Tax Planning

    What is tax planning and what you could gain from it?
    A good citizen should always pay tax. But he should not end up paying unnecessary tax. A smart citizen is one who pays tax but also makes maximum use of provisions available in Tax Laws to minimize it.

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Children's Future Planning PDF Print E-mail

Children's Future Planning

Like every parent, you too must be overjoyed to watch your child grow. All parents want to give the best possible upbringing to their children. This includes good education and security, in case of any eventuality. Soon, your little bundle of joy will grow up, and it will be time to provide for his or her higher education and wedding.
The purpose of Children's Future Planning is to create a corpus for foreseeable expenditures such as those on higher education and wedding, and to provide for an adequate security cover during their growing years.

Children's Future Planning acquires added importance because children's education and wedding are high priority life goals, which can neither be postponed nor can there be a compromise on the amount.

Good education has always been the passport to a secure future. Today, career opportunities have grown manifold, and there are many professional course that your child can aspire for. However, costs of higher education have also increased exponentially.

Like most parents, you might be saving regularly to ensure a safe tomorrow for your child. However, savings alone is no longer enough. For ensuring adequate funding of your child's education, you as a parent, need to do two things:

  • Invest appropriate amount systematically and at regular intervals
  • Provide for a financial security blanket to cover any eventuality

  • It is never too early to start saving and investing for your child's future. Especially in today's context. For example, the cost of a professional degree today is approximately Rs 2.5 lakhs. If your child is one-year-old today, after 17 years when he/she goes to college, you may require a sum of Rs 6.3 lakhs, assuming an annual rate of inflation of 6%.

    There are many products which we can use to achieve the above objectives. For example, we could suggest an SIP in a combination of various types of Mutual Fund Schemes  or Children's Plans offered by any good insurance company, to build a corpus for your child's higher education, and provide for a security cover in the event of the parent's unfortunate demise.
     

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    Testimonial

    "I still remember the first time I met Sachin Parekh when I was looking for an enhanced insurance cover for myself after my first child was born. From that moment, I have done all my investments and insurance policies only through him. He is always there to guide me efficiently whenever I approach him.

    One great thing about Sachin is that he always thinks about the unique needs of each of his clients and recommends specific schemes for them. He even advises his clients to discontinue a few schemes when they are not doing good, though this may affect his own income. He is the one advisor who thinks about his client more than he thinks about himself. A great investment advisor to have, for sure."

    R. Janakiraman
    National Bank of Umm Al Quwain
    Umm Al Quwain
    United Arab Emirates

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