CASE STUDIES

Case 5: Married, working with kids

Prospect name	:	Shweta Iyer
Age	:	45 years
Marital status	:	Married
Family members	:	2 kids – 14 and 17 years old
Occupation	:	Senior Manager in a financial services company
Income	:	13 lacs per annum
Investment Details
Savings	:	Rs. 5.5 lacs
Mutual Funds	:	Rs. 2 lacs
Cash in Hand	:	Rs. 2 lacs

Needs:

While her husband handles the home loan of 40 lacs and vehicle loan of 10 lacs, Shweta needs to plan for the kids’ education. She is looking for a lump sum payment option as she wants to give up working in a couple of years and attend to her family.

Suggested solution:

Shweta can take a Child Endowment insurance plan if she is averse to risk. Else she can go in for a Single Premium Unit Linked Insurance Plan. She should also take a term plan as a pure risk cover plan since her income earning also needs to be covered.