Answer to Question #317404 in Marketing for Maham

Question

You are a Financial Planner. Your client Ankur Desai (age 36 years) works with an

FMCG company earning Rs. 15 lakhs per annum. His wife Preeti (age 32 years) is a

homemaker. They have one daughter Asha (age 3 years). The couple requires your help

to make few financial decisions. (You can make any assumptions to further build up

your case.)

a. Ankur wants to buy a Pure Risk life insurance cover of Rs 1.5 crore. He is confused

whether he should buy a ULIP, Endowment or a Term Plan. Recommend the product

best suited for his requirement.

b. Ankur has expressed his desire to retire by the age of 60. Design a retirement plan for

him.

Answer 1

a. He should go for Pure Risk since he can have the capability of availing protection. If he had investments elsewhere, he could opt for the Endowment Plan.

b. For the retirement, he can opt for investing in shares where he will receive continuous interest as he is in his retirement. Apart from this, he can start a retirement business where he can passively receive income.