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Nature of Business
Service ProviderMutual Fund
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A Mutual Fund is a trust that pools the savings of a number of investors who share a common financial goal. The money thus collected is then invested in capital market instruments such as shares, debentures and other securities. The income earned through these investments and the capital appreciation realised are shared by its unit holders in proportion to the number of units owned by them. Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost.
Type Of Mutaul Fund:
Wide variety of Mutual Fund Schemes exist to cater to the needs such as financial position, risk tolerance and return expectations etc. The table below gives an overview into the existing types of schemes in the Industry.
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Fixed Deposit
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Fixed Deposits in companies that earn a fixed rate of return over a period of time are called Company Fixed Deposits. Financial institutions and Non-Banking Finance Companies (NBFC’s) also accept such deposits. Deposits thus mobilised are governed by the Companies Act under Section 58A. These deposits are unsecured, i.e., if the company defaults, the investor cannot sell the documents to recover his capital, thus making them a risky investment option.
Benefits of investing in Company Fixed Deposits
- High Interest Rate.
- No deduction of Income TDS at source up to Rs 5,000 p.a.
- Minimum availability is only 6 months.
- Company Fixed Deposits are non transferable that means there is no fear of FD receipt being stolen. In case it falls into wrong hands ,it cannot be misused. The FD holder in such a case should write to the company which shall issue duplicate deposit receipt upon execution of an indemnity and cancel the previous one.
- Further, advantage of investing in company fixed deposits is that one can analyse the company before investing in it because companies accepting deposits are old-established reputed companies with proven track records.
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Life Insurance
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Insurance is a cover used for protecting oneself from the risk of a financial loss. It is important to understand that risk is a part of any person’s life and that it increases as a person increases in age, responsibility and wealth. Insurance is risk coverage against financial losses and should not be taken as an investment instrument.
Risk of Dying too Early
- Each individual has got a certain financial value attached to his life in the form of his earning potential.
- If he dies at a young age or during the time when he had an earning potential his family suffers a financial loss in the form of loss of his potential earnings.
- A lot of his obligations towards the family remain unfulfilled due to his sudden demise.
- This is called the Risk of Dying too early and it can be protected against By taking Llife Insurance coverage.
- Every individual plans his life & his sources of income to the best of his ability taking into account his life expectancy.
- Sometimes, despite the best of planning the individual is not able to provide for contingencies such as serious / chronic / prolonged illness for himself or his spouse which results in all the planning going haywire.
- If a person survives beyond his expected age his planned sources of income could diminish or become inadequate due to a variety of reasons.
- This could result in his not having money at the time when he needs it most and is not in a position to go and earn the same.
- We call this the risk of living too long and protect against the same by taking whole life insurance policies where withdrawals are possible as & when required or by taking Pension policies or annuities.
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General Insurance
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