Introduction to Insurance By Beena Doshi

Namaste!!

 I am BeenaDoshi from Proinvest Wealth Managers. I am the Senior Risk Management Consultant.

How this blog thing came up ? My father always told me -The more you spread your knowledge , the more it will grow. So , here I am to keep you all  posted on  the updates on the  Insurance front.

Insurance has been bad- mouthed in India , maybe due to the mis-selling  that happened in the initial years. Well , this scenario has changed considerably now, as people are becoming aware of things ( about Insurance).

Before becoming an Advisor , I also has lot of apprehensions .But now,when I secure someone’s life , it gives me immense pride and satisfaction. According to me, It is one of the noblest profession .Unknowingly , I become their “Guardian Angel “( Guarding the insured’s family ).

In major countries  , Insurance/Protection  forms the base of any Financial Planning .That is , they buy Insurance first and then save whatever is left. But in India, it is vice versa.We first save and then buy Insurance from the amount that is left,orsometimes don’t buy at all.Imagine ,If the sole breadwinner of the family  forgets to secure himself/herself ,their family finances takes a toll after his/her death.

Here’s a picture of  the Financial Pyramid for your quick reference.

As you can see , the major chunk should be for Protection /Insurance and then Accumulation ,,Distribution  and Legacy Planning  in that order.

Nobody knows when they are going to die, so get insured TODAY …Don’t wait!!

Stay tune for my future blogs on different types of Insurance.

Let’s make Financial Life Better !!