Everyone wants to be financially successful and protect their assets. The most important asset for each person is themselves - their health, life and ability to earn income. However, most people fail to properly insure themselves against critical risks like death, disability, illness or loss of income. It is important to have life insurance of 10 times annual income, disability insurance of the same amount, health insurance of 50% annual income or minimum of Rs. 3-5 lacs, and an emergency fund of 6 months expenses. Properly insuring oneself provides critical financial protection and acts as a foundation for building future financial success and security.

1. Everyone in this would want to
be financially successful.
Everyone work for that, live for
that.

2. When you want to be financially
successful.
There are 2 important things
which you have to do.
We will talk about the First.

3. To be financially successful.
The foremost important thing
you have to do is to PROTECTING
YOUR EXISTING ASSETS.

4. To protect existing assets,
you have follow these steps.
1. Identify your assets.
2. Analyse the Risk to these assets.
3. Quantify the significant risk.
4. Take proper protection for
significant risks.

5. 1. Identify your assets.
Here most people fail to identify
most valuable asset for them in
this world, and thus fail to
protect it.

6. Identify your assets.
Do you know the most the most
valuable asset for you ? Think about
it ……...
1 2 3 4 5
Got it, I know very few of you could.

7. The most valuable asset for you
in this world is you, your self.
All that what you have as of now,
is because of you and you can
create such many more things.
Do you agree with me ?

8. Had you protected your self from
possible RISKS ?
Like…… Yes you got it…
Death
Disability.
Illness.
Temporary loss of income.

9. Many people whom I interviewed on
personal financial management
( 6500+)
Only 5% individuals I could find who
had ensured self in good way……..up
to their real value.

10. I would like to tell you some
simple rules which if you follow it
will take care of all possible
significant loss to you and your
family and be a fantastic financial
shock absorber.

11. Are you ready ???????????

12. Risk 1 : Death.
You need to cover yourself only if
you have financial liabilities and
responsibilities on your shoulder.
Note : (Bachelor without responsibilities or liabilities need not required life cover
even if income is high)
Life insurance to be taken only as an protection and
not as an investment.
This will take care of your financial responsibilities
and liabilities, Trust me no one else will do it not
even your relatives.

13. Risk 1 : Death.
The minimum life cover should
be
Annual income (Take home)*10.
Online term plans are good.

14. Risk 2 : Disability.
This is worst than Death, this is
called as living death.
It can happen because of Accident
or medical reason.
The bread winner of family becomes
financial liability.

15. Risk 2 : Disability.
The cover should be :
Annual income (Take home) * 10
Stand alone health insurance
companies are good in this segment.
Take Accidental death and disability policy and
critical illness policy which covers disability.

16. Risk 3 : illness.
Most of the unexpected expenses
happens for this.
Should have a proper cover to take
care of this Risk.
Family floater cover should be taken up to 45 age
and then separate children from existing policy.

17. Risk 3 : illness.
The cover should be :
Annual income (Take home) * 50%
Subject to Min. 3 lac in rural areas and 5 lac in urban.
Note : You should have to your own policy with you even if
your company is providing you a cover.
Stand alone health insurance
companies are good in this segment.

18. Risk 4 : Emergency
There may some unfortunate event
happen which may be life……
Job loss, major illness, Major
accident which may take more time
to recover.
This will not only take care of your
expense but your career as well,

19. Risk 4 : Emergency
You should create emergency fund
= 6 * Monthly expense.
Monthly expense will include : House hold expense,
Std. of living exp. (Hoteling, clothes etc.)+All
committed expense.
This fund should not be considered as an investment.

20. There are some other valuable
assets also like car, residential
property etc. Take proper cover
for them.
But first insure the most valuable
asset for you in this world.

21. This is called as building a strong
foundation to pyramid of
financial success.
A strong Financial shock
absorber.

22. I wish you a RICH and HAPPY life.
Ashish Bhave, Certified Wealth Coach and Trainer.