Money Re-Defined: How TV Taught Us To Maintain The Health Of Our Wealth
Real wealth growth needs time, patience, and discipline.
It is a golden period for the entertainment and content creation industry. Reality shows, action dramas, fantasy, true crime - you name it, and there are at least 10-15 recommendations popping up for you based on things you like. What a time to be alive, eh?
Throw in wealth management consultants strutting around Wall Street in pinstriped suits or those ringing the Dalal Street bell, and you know you have your weekend fix. There are so many shows where the protagonists are making money hand over fist. Think about Breaking Bad, where a chemistry teacher goes rogue because he wants to “leave enough” for his family. In Billions, a billionaire uses questionable tactics to grow his and his clients’ wealth while playing cat and mouse with an attorney general. Closer home, you have a blockbuster like 'Scam 1992', portraying the life of Harshad Mehta, who made millions exploiting loopholes and walking the grey areas of the Indian stock market. These are questionable characters quadrupling their empire with questionable tactics.
But real wealth growth takes time and patience. One of the shrewdest and un-sexiest ways to compound your asset class is by placing your bets on safer investment choices. Sure, new-age technology-based options like bitcoins and cryptocurrencies offer more lucrative returns. But the risk factor is exponentially high as well. You may want to experiment and allocate a proportion of your savings to these structures. But it is wiser to diversify and invest a little in conventional and life-saving asset pools such as insurance policies.
HDFC Life’s Click 2 Wealth plan is a dependable choice. It not only takes care of your dear ones in the unfortunate event of your passing, but also helps you meet specific goals in your life - such as starting your own business one day, or maybe buying a home. The plan comes with the following features and advantages:
· It allows you to choose from 11 Funds to maximize your investment
· It helps you to freely switch options any number of times
· It has minimal charges meaning it adds takes fund management charge towards managing your funds and mortality charge towards your life cover
· It allows you to enjoy special addition of 1% of the premium allocated to your fund for the first 5 years
· All your future premium(s) will be waived off and your fund will stay invested in case of death of the Proposer
· Allows you to opt for systematic withdrawal from your funds for post-retirement income
· It has the Return of Mortality Charges (ROMC) on Maturity: In the case of the Premium Waiver option, Mortality charges pertaining to only the Life Assured would be refunded.
It offers 3 plan options that one can choose from – Invest Plus Option, Premium Waiver Option and Golden Years Benet Option.
#1 Invest Plus Option: This option provides life cover and secures your investment needs by providing accumulated fund value at maturity.
#2 Premium Waiver Option: This option manages your financial responsibilities even in case of the most unforeseen circumstances. In the event of an untimely death of the proposer, all future premiums shall be waived to ensure that the fund does not stop growing. Thus, your
corpus will continue to grow and the Policy continues with risk cover for life assured and the accumulated fund value is paid on maturity.
#3 Golden Years Benet Option: When we plan our retirement, we want to ensure that not only have we accumulated enough for our survival, but also leave a little for our children. This option offers you the solution to build your fund value while also having life cover for almost your entire life (till 99 years of age). You can opt for systematic withdrawal facility to generate recurring post retirement income from your accumulated fund.
Sure no one is making movies about schemes such as these, but let us tell you, if Walter White had diversified his portfolio there is a chance his family would still love him. Unfortunately, insurance policies and other safe investment choices make for “boring” TV. But safe and sound means you are covered even in the most unforeseen circumstances.
Visit here for more on the options and eligibility of selecting HDFC Life’s Click 2 Wealth plan.
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