I VIMAL SOLANKI

When it comes to buying insurance, most people think — “I’ll take it after marriage” or “once my EMI is settled.”  But here’s a truth no one likes to admit — buying insurance late is like wearing a helmet after the accident. The biggest myth around insurance is “I’ll take it later when I really need it.” In reality, the earlier you start, the smarter the decision — both financially and mentally. Here’s why 👇 1️⃣ The Younger You Are, The Lower Your Premium Insurance companies work on one simple formula — higher risk means higher premium. When you’re young, your health profile is strong, and disease risk is lower — which means you pay significantly less for the same coverage. 👉 Example: A ₹1 crore term plan at age 25 may cost ₹600–700 per month. At 40, the same plan can easily cost double or triple! So instead of paying for your pizza today, pay for your peace of mind tomorrow. 2️⃣ Health Won’t Wait for You to Turn 40 Lifestyle diseases now affect people in their 20s and 30s due to...

Most people spend years planning their careers, investments, and family’s financial security. Yet, the one thing they rarely plan is what happens to all those assets once they’re gone. It’s not that people don’t care — they just assume “my family will figure it out.” But here’s the catch — the law doesn’t work on assumptions; it works on documentation . ⚖️ The Law Doesn’t Care About Intentions — Only About What’s Written You might intend to leave your house to your spouse, or your savings to your children. But without a Will, those intentions hold no legal value. When someone dies intestate (without a Will), their property is distributed based purely on legal succession laws — which vary according to religion. This means your wishes, emotions, or personal circumstances don’t decide who inherits. The statute does. 🕉️ For Hindus: Succession by Hierarchy Under the Hindu Succession Act , the law follows a clear hierarchy. Your Class I heirs — son, daughter, widow, and mother —...

“Wealth isn’t about having a lot of money. It’s about having a lot of options.” – Chris Rock The festive season of Diwali has just passed — a time when we clean our homes, decorate our surroundings, and invite prosperity. But here’s a thought — how often do we “clean up” and organize our financial lives with the same dedication? As the diyas fade and we move into a new financial chapter, this is the perfect time to reflect on one crucial goal — achieving financial freedom . 🌱 Step 1: Financial Planning – The Foundation of Freedom Financial planning is not just about budgeting or saving money — it’s about giving your money a direction . Just like we plan our festivities down to the last sweet box, our finances deserve the same meticulous care. A proper financial plan helps you: Understand where you stand today (assets, liabilities, income, expenses) Define where you want to go (your financial goals) Create a roadmap to reach there (through savings, investments, and protection) Exam...

Insurance in India: More than a Policy — It’s a Lifeline 🛡️ Despite India’s growing awareness around financial planning, insurance still remains one of the most underpenetrated segments. 👉 As per IRDAI reports, less than 30% of the Indian population has any form of life insurance. Health insurance fares worse — with just about 15-20% of the population having adequate medical cover. This is alarming, especially in a country where one medical emergency can wipe out a family’s lifetime savings. 🔍 Why Insurance Is No Longer Optional: Rising medical costs Increasing lifestyle-related diseases Growing uncertainties in employment and income The need for financial protection for dependents 💡 The good news? The insurance industry in India is projected to grow at CAGR of 10–15% over the next 5 years , driven by digital innovation, regulatory support, and increased financial literacy. But growth stats alone don't solve real problems. What we need is action at the grassroots — proper guida...

When you live outside India, your heart often beats in two places: one where you build your career and another where your roots are deeply grounded. For Non-Resident Indians (NRIs), investing in India is not just about chasing higher returns—it’s about staying connected to the country, creating wealth across geographies, and securing a strong financial future. But why should NRIs consider investing in India, especially today? Let’s dive in. 1. India’s Strong Economic Growth Story India is one of the world’s fastest-growing major economies. With GDP projected to remain strong in the coming decade, backed by reforms, infrastructure growth, digital transformation, and a young population, India provides NRIs a golden chance to ride the growth wave. Think of it this way: investing in India today is like investing in Silicon Valley during its early boom. 2. Attractive Investment Opportunities NRIs can explore multiple asset classes in India: Real Estate – India’s real estate market is boomi...