Network FP Thinktank

Network FP Thinktank is an Online Professional Journal by Network FP wherein we share the articles written by top-class financial advisors and industry thought leaders from across India and world.

How critical is critical illness cover for your clients?

Mohini Mahadevia
Financial Planner at SOLUFIN Financial Planners
May 21, 2019

As advisors, we are expected to know all about various options available to our clients, be it strategies or financial products. While it is humanly impossible to literally know-it-all, it is definitely possible to keep up with the changes and new developments and keep oneself abreast of various features of financial products. This article, we shed some light on the “Critical Illness Policy” to enable you to be in a position to advise your clients about whether or not to buy this product.

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Insurance & Risk Management – Financial Advisors need to get it Right

Rahul Agarwal
December 16, 2014

When you go to the doctor and get medicines for your stomach pain, you don’t go back again after a year and ask the Doctor for interest or return on the fees you paid. The fees you paid is the cost of getting a professional advice. Similarly, insurance premium is the cost being paid to the insurance company for taking over the financial risks from us.

While this sounds simple, clients don’t get it. They expect a ‘return’. Courtesy, how the insurance products have been sold so far. Risk Management is a key focus area in financial planning and while we help clients to grow their wealth, we also need to help them identify the possible financial exposures and design right insurance solutions.

In this article, Rahul Agarwal, Founder Director at www.121policy.com explains the basics of insurance, reviews the current challenges and shares his thoughts on how we can move forward. He asks us to take a client focused approach and work for long term benefits.

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Surrendering policies – a painful but necessary decision?

Sadique Neelgund
June 6, 2011

The most prominent among the common mistakes made of clients is buying of a wrong insurance policy pushed by an insurance agent. Almost all the clients we deal with have at least a couple of dud insurance investments. It’s a very hard decision both for the planner to recommend surrendering a policy and a client to execute such a recommendation.

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