 "Case study")
Status & Goals
Henry is an assistant manager (digital media) with a small advertising firm in Mumbai. He is single and stays with his parents. His father is still working and mother is a housewife. Henry wants to plan for his marriage funding and retirement.
Findings
Emergency fund: Contingency fund not maintained, since his parents maintain a good amount in their savings account and fixed deposits. He is depending on them for contingency.
Life insurance: Henry is covered for Rs 85 lakh through various traditional and term insurance policies. Almost 50 per cent of his income goes towards insurance premiums, which is very high.
Health Insurance: Henry and his parents are covered for Rs 3 lakh each through an individual health insurance policy. His employer also covers him for Rs 2 lakh.
Investments: Majority of his investments are in debt, with a very high allocation to insurance products, which his parents consider as investment.
Liabilities: No liabilities.
Henry is an assistant manager (digital media) with a small advertising firm in Mumbai. He is single and stays with his parents. His father is still working and mother is a housewife. Henry wants to plan for his marriage funding and retirement.
Findings
Emergency fund: Contingency fund not maintained, since his parents maintain a good amount in their savings account and fixed deposits. He is depending on them for contingency.
Life insurance: Henry is covered for Rs 85 lakh through various traditional and term insurance policies. Almost 50 per cent of his income goes towards insurance premiums, which is very high.
Health Insurance: Henry and his parents are covered for Rs 3 lakh each through an individual health insurance policy. His employer also covers him for Rs 2 lakh.
Investments: Majority of his investments are in debt, with a very high allocation to insurance products, which his parents consider as investment.
Liabilities: No liabilities.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%