Why ULIP mis-selling has become rampant ?
Why is there so much mis-selling of ULIP? How to avoid this mis-selling? Who should take ULIP?
Investment and financial decisions in Indian households tend to be a one-way street. But it is time couples talk openly about it and be transparent about money matters so that either individual does not encounter any problem in the case of an unfortunate event.
Concealing debt-related information or investment decisions gone wrong from life partner can cause irreparable damage to a relationship.
Broaching this topic may be awkward, especially considering the patriarchal mindset prevalent in our society.
But the pandemic has shown us that dogmatism doesn’t yield the best results.
The loss of an earning member, especially if he or she is the sole breadwinner, is a huge setback.
Financial infidelity can create tension and difficulty in relationships.
The Covid-19 pandemic has brought to the fore the importance of astute financial planning.
In a society like ours, it may not be easy for either husband or wife to broach this topic, especially in smaller towns and cities. But a start needs to be made and people also need to realise that in the unfortunate event of demise, the dependents are mostly left to survive on the savings kitty generated over the years. Any depletion in that will result in severe hardships for them.
It is time this patriarchal mindset related to money matters is addressed and women also seriously engage on these money matters to safeguard themselves against any future financial problems.