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THE KURIENs
Suraj (31), Padma (30), Vinolia (3)
RESIDE IN
~13.32 lakh
6/10
>GOALS
DAUGHTERS HIGHER
EDUCATION
DAUGHTERS MARRIAGE
(2037) (inflation 9%)
~17 lakh
~76.81 lakh
Current value:
Future value:
~72 lakh
~1.15 crore
RETIREMENT PLANNING
(2041) (inflation 7%) (Life expectancy: 85 years)
Current annual retirement
expenses :
Future annual
expenses:
Corpus
required:
~ 4.10 lakh
~25.35 lakh
~5.43 crore
Assets
Savings account
89,000
Fixed deposits
1,25,000
EPF
1,78,000
Equity mutual funds
90,000
Self-occupied property 52,00,000
56,82,000
Net worth
27,82,000
Liabilities
29,00,000
>FINDINGS
EMERGENCY FUND: Money maintained in savings account and
>RECOMMENDATIONS
EMERGENCYFUND: Maintain ~2.5 lakh in savings account to take
care of at least three months of expenses in case of any emergency. Move ~20,000 surplus from savings account for next two
months on receipt of salary to reach the targeted fund amount.
LIFE INSURANCE: Suraj needs an additional insurance cover of
~50 lakh. A suitable online term plan for 25 years tenure will cost
~10,000 p.a. Extra life insurance cover not suggested for Padma.
HEALTH INSURANCE: Suraj should take a separate family floater
mediclaim policy of ~3 lakh. The annual premium for this will
be approximately ~8,000.
ACCIDENT INSURANCE: A personal accident policy of ~25 lakh, with
~ 7.5 lakh as TTD benefit is recommended for Suraj. Padma
should take an accident cover of ~10 lakh, with a TTD benefit of
~5 lakh. The total premium for this should be ~8,000 p.a.