CASE STUDIES

Case 6: Divorced, working with kids

Prospect	:	Aruna Khanna
Age	:	35 years
Marital Status	:	Divorced
Family Details	:	1 kid Nisha 7 yrs old; mother 60 yrs old lives on her pension income
Income Source	:	Salaried
Occupation	:	Teacher, BSS School
Total Income	:	Rs. 4 lacs per annum
Investment Details
Savings	:	Rs. 3 lacs
Stocks	:	Nil
Mutual Funds	:	Nil
Insurance Premium	:	Rs. 20,000
Loans	:	No Loan
Cash in Hand	:	Rs. 30,000

Needs:

Aruna would like to give her daughter the best education possible. She is also aware that she will need to provide for her daughter’s marriage when the time comes.

Suggested solutions:

Since Aruna is the only earning member of the family, she should take a term cover for herself. She should also take a Unit Linked Insurance Plans for the daughter. She can go in for a Money Back Plan for periodical money back every 5 years (if risk averse). Since she has no legacy to depend on, a Pension Plan would help her financial position post retirement.