FINtastic Talks with Sanjiv Bajaj feat Satishwar Balakrishnan - MD & CEO of Aegon Life Insurance
Episode Title
Life Insurance: Best Protection for your Family
Page Slug
fintastic-talks-with-sanjiv-bajaj-feat-satishwar-balakrishnan-aegon-life-insurance
Upcoming Talk Banner Image
Episode Clip Video URL
https://www.youtube.com/embed/SaRhyVa3X1s
Full Episode Video URL
https://www.youtube.com/embed/SaRhyVa3X1s
Speaker Specific Thumbnail
Episode Specific Thumbnail
Episode Date and time
Episode Duration ( in minutes )
77
Episode No.
7
Episode Description
Be Money Smart. Be FINtastic.
As rightly suggested by Mr. Sanjiv Bajaj, Wealth Creation starts with Wealth Protection. FINtastic Talks Season 2 is back with its 7th episode featuring Mr. Satishwar Balakrishnan, MD & CEO of Aegon Life Insurance.
Episode Key Takeaways ( in English )
- Decode what it means to be a Digital-First Life Insurance Company - Mr. Satishwar Balakrishnan
Most people misinterpret the meaning of a digital-first life insurance company. By digital-first, it is assumed that it's direct to customer company that operates through a website. Whereas internationally, a digital-first company is a company that has digitized processes, has minimal office staff, and mainly depends on distributors. - The Importance of every function is critical to an organization's growth in Digital transformation
Digital transformation in a company happens when all, not just tech, function properly and adapt to perform. So whatever chain comes into the ecosystems have to get connected to perform together. - "Insurance takes care of two things for you: Dying too Young & Living too Long" - Mr. Satishwar Balakrishnan
Life Insurance is the protection piece that takes care of two extremes for you, that is - Dying too Young & Living too Long. Life Insurance taken well in time will cater to your emotional aspect. Once you have decided to buy a Term Plan, it is important to do the essential formalities yourself. Then, for building your savings, look for good investment products by reading through their features, analyzing benefits illustrations, or asking an investment expert. - Being extremely truthful while buying a Life Insurance policy helps during the Claim Settlement - Mr. Satishwar Balakrishnan
While buying a Life insurance policy, one needs to be extremely truthful, especially when answering all those health questions, income declarations, and other relevant pieces required from life insurance companies. People often do not answer them correctly enough as there might be an extra charge for declaring adversities, but this might be problematic later not declaring it. A proper onboarding process done most sincerely would only help in claim settlement in time of need. - "Investment is a Long Term Journey rather than a quick stopover" - Mr. Sanjiv Bajaj.
So it is essential to understand that Investment is a long-term journey. Markets will go up or down, but one needs to stay invested. Choose investments that can help you save on tax, i.e., section 80C of the Income Tax Act 1961, which will assist you increasing your disposable income. The crux is to stay invested for the long-term. - "Wealth Creation happens only after protecting it first" - Mr. Sanjiv Bajaj
Wealth creation can be said as a prerequisite to wealth protection. The first step is to buy Adequate Health Insurance, then secure your loved one's future with appropriate Life Insurance, and then Insure your Assets, such as your car, home, etc. Securing these will help investments and savings remain intact and lead to wealth creation.
Enable Insights Page Template
True
Episode Speaker
Episode Priority
1
Episode Status
Active
Select Episode Season
Upcoming Talk Page Banner Heading
Get the Insights to talk smart about money & wealth with Satishwar Balakrishnan & Sanjiv Bajaj