The goal of investment is to ensure the financial security of loved ones with them. The person closest to your family must be aware of it, then only in difficult times, that investment will work for you. According to financial experts, the second wave of the Corona epidemic has exacerbated the crisis. In such an emergency, do not forget to share your investment information with the family to avoid difficulties. About one lakh crore rupees are lying with various regulators in the country.
Leave the habit of hiding the details
People usually work to hide the details of the investment. Even the nominee does not understand the need to tell him. Financial experts say that doing so is the biggest mistake. They say that other types of investments including fixed deposits, mutual funds which cannot be taken in your name by anyone else without your approval. The nominee also gets the amount after fulfilling several conditions. In such a situation, please give information about the investment to a person close to the family.
Write down the details of the investment
Verbalally giving investment information to a family member may not work. Financial experts say that in a diary, write the details of all the investments and hand them over to a family member. It also facilitates spending in an emergency. It also proves helpful for your dependents as well.
Must pay insurance premium
Insurance is the first financial product to use in difficult times. In such a situation, pay the insurance premium on time so that it can be useful for you on the need. Also keep all financial investments operational because many investments, including mutual funds and RDs, have to be closed to withdraw funds and deal with losses.
