The market may be flooded with a slew of long term savings products that offer attractive returns. But Sunil Kakar, senior director and chief investment officer, Max New York Life is of the view that life insurance is the only product that helps people align their financial planning with their life stage goals in life. In a free wheeling interview with The Indian Express, Kakar also laid out investment ideas for first time investors. Excerpts:
There are a lot of long term savings products in the market. But what are the benefits of life insurance products?
Firstly, life insurance is the only financial instrument which provides the combined benefit of long term savings and protection. Life insurance products are also the only instrument, which helps people align their financial planning with their life stage goals in life. Apart from providing tax benefits, life insurance is also flexible as an instrument where you with options such as partial withdrawals, switching, re-directing, automatic re-balancing of funds, etc. Life insurance also gives you the option to invest according to your risk appetite be it debt or equity or may be balanced funds and thus letting you maximize your returns. Today, there are life insurance products which are inflation proof by means of a unique premium indexation feature which allows you to provision for inflation at the time of maturity.
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The rest of the article is at the link as usual, interesting view on where the Indian market is heading. As it’s one of the boom markets, no doubt where that market heads either the rest will follow or at minimum it will have a profound influence on the rest of the market.
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