Things That Define Your Life's Maturity Cycle | Aviva India

Things That Define Your Life's Maturity Cycle

Financial Planning Maturity Cycle

Have you ever looked at human life with a telescope? No? There’s actually no need to. This is because the themes and patterns that make it up are so painstakingly obvious and common for everyone that a mere glance will reveal all secrets.

Despite this, people often fail to look and others and learn the lesson that protection is always better than cure. Yes, we are talking about insurance. A large percentage of the population (roughly 75%) still lives without being insured.  *Source

The ramifications become more serious when we bring near and dear ones in the equation. Any loss to us is a loss  to them and vice versa. Why then do we gamble our well-being so easily?

Today, let’s change this. Let’s reclaim our power to create a bright and happy future for ourselves and our family.

The crucial stages of life that you need to prepare for

When looked through the lens of insurance, there are 5 crucial stages/ areas of life that one needs to be prepared for. Any tension in any one of them is capable of creating a domino effect and destabilizing the others, too. Often, the consequences aren’t felt very strongly until it is too late.

With this precautionary snippet in mind, let’s delve into the stages and what each of them needs to thrive.

Education

This is the building block for any good life. A good education equals good opportunities and the ability to create wealth and stability for oneself.

At this stage, one needs to plan for the overall educational needs of the child including primary, secondary, and tertiary education. Cumulatively, all of these expenses rack up to more than 1 crore.

Even if one were to compromise a little on the quality of primary and secondary education (since those can be aced even without tuitions or hefty expenses), a good college/ university is crucial for opening up shining employment opportunities.

What Aviva offers: Aviva Young Secure Scholar child education plan which includes life cover and also provisions to safeguard your child’s educational needs.

UIN :122N092V03

Savings and wealth

Ideally, as soon as one leaves college, one needs to start saving up. In reality, though, life and career can take a while to settle. This is why young adults often times start saving up late, dreaming of the ‘big’ amounts they’ll be putting into their saving account.

However, saving plans don’t have to be grand. They just need to be consistent. This is what Aviva’s three saving plans ensure. As you work and save up, Aviva will be working with you to build your wealth.

What Aviva offers: Aviva Income Suraksha (a plan that guarantees a monthly income for 10-12 years with flexible income amounts), Aviva Wealth Builder (a savings plan meant to double your wealth by paying double the premiums you paid at maturity/ death), Aviva New Family Income Builder (you first pay for 12 years and then get double the premiums paid over the next 12 years for self or family).

UIN :122N133V01 , UIN :122N100V03, UIN :122N103V04

Marriage

Another big milestone in the life of any Indian family. The spending is in lakhs and equals a major percentage of life savings for a lot of people. There is a better way to financially plan for a wedding and that is through a savings plan.

This way, the bulk of your savings remains intact and you also get the money to pull off a grand ole Indian wedding!

What Aviva offers: Aviva Income Suraksha and Aviva Wealth Builder. Yes, we mentioned these plans above but they can be leveraged to save up and plan for a wedding as well. Get in touch with us to chart an effective course of action for this! 

UIN :122N133V01 , UIN :122N100V03

Retirement

Retirement is a crucial milestone that marks a big change in a person’s life. We heard a grandfather saying once ‘budaapa to kharche par hi niklta hai’ (‘old age is spent by spending money). We couldn’t agree more.

One doesn’t have the energy or the physical vitality to work and earn. Health problems can further complicate things. If one is able to conduct business and earn even after retiring from employment, then kudos! But, still, one needs to have a safety fund that one can dip in when retirement and old age get too hard.

Retirement plans come to the rescue then. They ensure that as you worked hard all your life, you will be compensated generously during this new phase of your life and can spend it relaxing and enjoying the finer things.

What Aviva offers: the Aviva Next Innings Pension Plan (this is a savings plan which guaranteed 210% of the paid premiums at maturity) and the Aviva Annuity Plus (a unique plan wherein you pay once and then get guaranteed payouts for life. You’ll have 7 annuity options to choose from with the flexibility to switch for a higher annuity amount).

UIN :122N101V02 , UIN :122N018V04 

Evergreen: life and term insurance

How can we forget life insurance and term insurance plans? They offer safety and security in case of any mishappening and build a corpus that you can then use anywhere you wish.

What Aviva offers:  Aviva LifeShield Advantage

There you have it- the 5 crucial stages of life that one needs to prepare for. There’s no need to feel overwhelmed with how much needs to be done. Start small and continue steadily. You’ll feel the effects of it soon enough.

UIN :122N081V03

AN Jan 70/20

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