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Move a step closer to your Life Goals with prudent financial planning

July 18, 2018

The new calendar year has witnessed some volatility, especially for the broader markets (small/mid-cap space). In this scenario the retail investors have become doubly cautious while investing for their Life Goals.

Shyam, a 35-year old techie working in an information technology firm, has clear investment objectives - to ensure superior returns in spite of markets sailing through choppy waters. However, Shyam's appetite to maximize from his investments is limited as he is the sole breadwinner for a family of four, which includes self, a homemaker wife and two school-going children.

Amidst this, Shyam has varied life goals in mind. These include sending his children abroad for higher education and planning for his retirement.

Shyam's elder son wants to become a doctor, whereas his younger son wants to follow Shyam's footsteps of becoming a techie and working in an MNC.

Both the education projects for his children put together, may cost not less than INR 60 lacs to Shyam, 10 years from now. On the other hand, his other life goal of early retirement before he turns 60 will further require a hefty corpus.

Shyam has learnt a lot about the ongoing volatile market conditions from his colleagues. He wants to put his hard-earned money in an investment tool that is able to weather the vagaries of volatile market and also give him good returns at the end. It is here that he finds out that through innumerable fund switches in a ULIP, he can tide over market volatility and allocate his funds in a way that give him best investment returns.

Here is Shyam's financial plan to achieve his life goals:

To fuel his life aspirations Shyam invests money in a new age ULIP Bajaj Allianz Life Goal Assure, which is tailor-made to meet all his life goals. This new age ULIP comes with distinctive features like return of life cover charges on maturity, transparent and low charges, tax saving avenue, and a strong fund performance. It also offers Loyalty Additions for paying premiums regularly and staying invested in the policy. The Loyalty Additions are applicable for Annualized Premium of INR 5 lakh or more, and for policy term of 10 years and above.

Shyam starts investing INR 4 lacs annually in Bajaj Allianz Life Goal Assure for 10 years for a Sum Assured of INR 40 lacs for a 10 year policy term. He opts for an Auto Transfer Portfolio Strategy, where all investments are initially made into a Bond Fund and every month the fund is transferred systematically to Pure Stock Fund II (Both the fund options are chosen by Shyam). Ten years from now, his maturity amount will be INR 47,71,018/- @ 4% and INR 59,35,916/- @ 8% (includes fund value + return of life cover charges).

Further, at maturity, if Shyam opts to receive the maturity benefit in instalments over a period of five years, he will receive the benefit of Return Enhancer which is an addition of 0.5% of each due instalment. This is a first-of-its- kind feature in a ULIP plan in India that gives customers maximum benefit on their investments.

Thus, with Return Enhancer, Shyam's maturity proceeds will be INR 50,30,513/- @ 4% and INR 67,70,910/- @ 8%. With this unique feature in Bajaj Allianz Life Goal Assure, Shyam benefits from a larger corpus, the option to create his own cash flow over a period of 5 years, and at the same time he can continue to stay invested in fund(s) of his choice.

Hence, with some smart and prudent financial planning investors can move a step closer to their long-term financial goals.

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