Life Insurance – Ascent Financial Solutions

5 Money Actions that can create disaster in your Financial Life.

Prakash Lohana — Fri, 24 Apr 2015 06:26:22 +0000

Most of you have been reading my articles for quite a long time. I have written a lot on how you can organize your financial life. Now this time I want to tell you what you should not do. Successful Financial life can be achieved by avoiding mistakes and adopting a disciplined approach towards your financial affairs. Following 5 money actions will definitely affect your financial life negatively so I request you to avoid these mistakes:

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Which Type of Life Insurance Policy you should Buy?

Prakash Lohana — Thu, 11 Sep 2014 16:29:24 +0000

In my earlier article “Why should you buy life insurance and how much?” I had tried to discuss and clarify on objective of life insurance and how much life insurance one should buy. It is being observed that investors buy life insurance policies which are mainly meant for investment or tax saving purpose and not for life insurance and this has a major negative impact on their wealth creation. So this article is an effort to bring some clarity on which type of life insurance policy you should buy.

For the understanding of layman investors, life insurance policies can be divided broadly in to three basic categories, which are discussed here under.

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Why should you buy Life Insurance and how much?

Prakash Lohana — Thu, 12 Jun 2014 07:36:33 +0000

Life insurance is a very important aspect of financial planning but unfortunately investors are not very clear with primary objective of buying life insurance and how much life insurance they should buy? This article is an effort to bring clarity on these two topics.

Why should one buy Life Insurance?

Normally most of the life insurance policies are bought between January to March, Do you know why? For a simple reason to save taxes. So most of the times investors buy life insurance policies for tax saving and normally insurance consultant is relative or friend and buying policy is an obligation. In India policies are bought with a primary objective of investment and tax saving and due to this people end up paying high premiums, for very low amount of life insurance cover. This is where investors are making serious mistake. This mistake hurts investors in two ways, which is as under.

They are normally under insured even though they are paying high premiums.
Due to high life insurance premium which is invested at very low returns their wealth creation process is negatively affected. In my coming articles I will try to quantify the amount of wealth destruction due to this approach.

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