People are increasingly recognizing the importance of insurance policies in such unforeseen circumstances and India is no exception. With health concerns amplified amid this pandemic, this is an opportune time to relook and redesign financial portfolios, looking through the lens of three critical elements – protection, savings, and wealth creation. […]
I find it interesting how it doesn’t matter what country you’re in, people are recognizing the importance of insurance policies. More importantly, how insurance policies can make your financial portfolio robust and ready for any unforeseen financial challenges in the future.
The attached article is out of India. Very similar to the U.S., clients in India have been quarantined in order to help slow the spread of Covid19. The time has given them ample opportunity to look into how they view their financial portfolio.
A portfolio is more than just your stocks, bonds, and mutual funds. Your portfolio covers all of your investments – including your life insurance policies. A lot of “financial gurus” you see on TV or you listen to on the radio do not see it that way. They feel the investment into insurance policies could be better utilized if placed into some accumulation type account.
I would say the “financial gurus” follow the model of – save, accumulate, protection”. Although I could go on about how that model works, my purpose in sharing the article is the approach of this author. A model I have been working with clients for a long time. The model is – protection, savings, and then wealth creation.
I greatly appreciate how the author understands how, “Protection forms the foundation of a strong, long-term financial portfolio, as it mitigates potential risks and challenges.”
Please take the time the time to read the article by Anup Seth. The article presents a very different perspective on how you can approach your financial life. An approach I am very much in favor of. It is the very approach I use with my clients through the LEAP process. If you’re not familiar with the LEAP process, please look at my YouTube Channel.
Please leave a comment below. I would like to hear what you thought of Anup’s article. If you would like to learn more about how you can use life insurance policies to strengthen your financial portfolio, schedule a no cost 30-min consultation. Click the link below.