Deca NRI Services
How to make a Financial plan
How to make a Financial Plan? Answer questionnaire, Report in 2 working days
Why make Financial Plan? Helps to find out exactly how much to invest every month, de-risk existing holdings, protect future income & health, smooth asset transmission and minimize Tax. The financial plan once completed will be given to you. There is also no obligation for you to invest through us going forward. Eg: FREE insurance with SIP, Annuities, reverse annuity etc are things that come to light only through a financial plan.
Points of Action resulting from Financial Plan (Example):
Client: Mr. DJP and family, Dubai, UAE
Date: 20 July 2015
| Description | Current value | Coming in years | Future value | Montly SIP needed |
| Retirement expenses per year (age 60-80) | 600,000 | 17 | 4,100,000 | see cell below |
| Retirement corpus at 60, to be drawn down till 80 | 45,700,000 | 34,600 | ||
| KP's Education | 350,000 | 13 | 1,527,000 | 3,500 |
| Intl. Holiday | 240,000 | Every yr | 20,000 | |
| Car | 1,500,000 | 4 | 2,360,000 | 37,000 |
| House | 6,000,000 | 17 | 41,200,000 | 50,000 |
| KP's Wedding | 2,400,000 | 18 | 18,500,000 | 19,000 |
| Major H. Ins premium p.a. from age 60 | 105,000 | 26 | 2,000,000 | see cell below |
| Major H. Ins corpus required at 60, to be drawn down till 80 | 14,000,000 | 4,465 | ||
| Total monthly SIP* needed | 175,300 | |||
| Total monthly SIP in place | 30,000 | |||
| ACTION → | Shortfall | 145,300 | ||
| Risk cover | ↓ ACTION ↓ | |||
| Description | Required | Present available | Shortfall | Amt to secure |
| Family Minor health risk cover 0 - 3 Lakh (appendicitis, falls, aches, pains etc) | 500,000 | 500,000 | NIL | - |
| Family Major health risk cover 50 Lakh (terminal illness, major accidents etc.) | 5,000,000 | NIL | But Start with 25,00,000 | 15,485 p.a |
| Life cover for main earning member (30-60yrs = 1.5 years income) | 69,00,000 | 500,000 |
64,00,000 but min cover is for 50 Lakh |
116,159 one time for full 15yrs |
| Contingency / emergency funds (3 months income, held in Liquid fund) | 2,160,000 | 0 | 2,160,000 | 2,160,000 |
| POA (Power of Attorney) To protect assets in case of emergency | Yes | NIL | POA |
For UAE & India
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| Will - To prevent delay / cost after death | Yes | NIL | Will | |
Jun 10, 2020
Deca c/o Arunanjali Securities
Address: Deca Office 3-3-245/2 next to Bejai church complex, Bejai, Mangalore, 575004 India
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