Rarely do we come across anybody who gets excited about watching a show or reading an article that reminds them to invest systematically or to insure their lives. Long term investments sound like a smack of wisdom and insurance makes a rather uninteresting proposition. On the other hand, the news about a trader who traded in stocks with borrowed money and became a millionaire makes thrilling headlines.
Best Investment advice is often boring
We tend to forget that what is exciting now can be terrifying later and the best advice is often boring. Perhaps Bajaj Allianz Life Insurance realizes this psychological barrier very well, so when the company launched its Future Wealth Gain plan last month, they tried to make the event as interesting and creative as possible.
I was invited to the event and had gone with the idea of hearing some serious talks. Instead, I found that the team had organized peppy talk show and games centred on the theme of saving money, to engage the audience while educating about the concept of the product. I will also try to keep this post as simple as possible.
As you have rightly guessed, this post is about:
Future Wealth Gain: a Unit Linked Endowment Life Insurance Plan
In an earlier post, I had elaborated on why preserving and growing money are two key investment objectives. Our other investment goals could be to create income from the capital base, to save tax, or to save for big expenses like buying a house, planning vacations abroad, or discharging financial responsibilities like funding children’s education or marriage.