What’s right for your money now won’t necessarily be so in ten years, so plan your finances to accommodate life's changing needs. As you go through different stages of life, your financial goals will likely change. What’s right when you start working may change as you start a family. What’s good for you at the peak of your career will likely change when you retire. Financial plan is an investment
plan involving risk management, estates, education or retirement. The plan allocates future income to various types of expenses, and also reserves some income for long-term savings. An evaluation of ones present income and future financial state, using current known variables to predict future income, asset values and withdrawal plans. History:
Before 1938, business conducts of foreign & domestic Insurance Companies, in India, were not monitored, market was in vulnerable condition. In 1956, the Insurance sector was nationalized, all Insurance Companies merged to form the Life Insurance Corporation of India (LIC) through LIC Act 1956. Next 40 years, LIC monopolized insurance market. Unfortunately, merely 8% of Indian Population was covered under life insurance, rest 92% remaining deprived of availing benefits of life insurance due to poor performance of LIC. Therefore, there was the need for competition in Indian insurance market and to encourage competition in Indian insurance market, Government of India introduced IRDA Act, 1999. This Act encouraged Indian Industries to form Insurance Companies with collaborative help from Asian, foreign Insurance companies more experienced than LIC. The very objective to introduce competition by the Government to promote insurance benefits among the remaining, vast Indian population who were otherwise deprived of availing benefit of Life Insurance, obviously due to ineffective acts of LIC of India. TATA Group – an Indian multinational conglomerate holding company in India and one of India's largest conglomerates which gained international recognition. Accordingly, TATA Sons collaborating with the American Insurance Association (AIA) - a leading property and casualty insurance trade organization incorporated in 1866, - formed “TATA AIA Life” to promote the benefit of Insurance among the vast Indian population with quality insurance products and after sales service. Domain:
Claims | Customer Protection and Ethics | Financial Planning | Fulfilling Legal and Regulatory Requirements | Insurance Advisor | Insurance Agent | Insurance | Life Planner | Providing Professional Advice | Providing Technical Product Information | Retirement Solution | Wealth Creation | Wealth Planning | Children's Education | Children's Marriage
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