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2010 ‘Year of Personal Development’ ‘ Personal Financial Planning ’

2010 ‘Year of Personal Development’ ‘ Personal Financial Planning ’. How you look at Life. Personal Financial Planning. Lack of Planning Adhocism We Love to Spend Religious Beliefs. Financial Independence. Savings % Provident Fund Insurance Plans National Savings Centre

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2010 ‘Year of Personal Development’ ‘ Personal Financial Planning ’

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  1. 2010 ‘Year of Personal Development’ ‘Personal Financial Planning’

  2. How you look at Life

  3. Personal Financial Planning • Lack of Planning • Adhocism • We Love to Spend • Religious Beliefs

  4. Financial Independence Savings % • Provident Fund • Insurance Plans • National Savings Centre • Banks • Committees

  5. Investments • Mutual Funds • Stocks • Gold • Currencies • Real Estate

  6. Loss of Income • Losing Job • Disability • Critical Illness • Death

  7. Child’s Education Fees PlanNUST/LSE Bachelor's Program NUST Parent's Age 33 Child 3 Current Fee 110K+20K per annum Projected Fee (2025) 220K+50K Assume Growth rate 10% Contribution 3,000 per month (5-8% indexation per annum) Total Fees Available 1.75 million LSE Term 15 years Current Fee 200K per annum Projected Fee (2025) 650K per annum Assume Growth rate 10% Contribution 6,000 per month (5-8% indexation per annum) Total Fees Available 3.0 million

  8. Recommendations • PA Plan – 5 million Premium 27K per annum • Omer’s Education Fees Plan (NUST) -4K per month (5-8% Indexation per annum) • Amna’s Education/Marriage Plan -6K per month (5-8% Indexation per annum)

  9. Term Assurance (Level) Age 30 Sum Assured 3 million Accidental Death 1.5 million WOP Term 20 years Premium 16,000 Term Assurance (Decreasing) Sum Assured 3 million Term 15 years Premium paying term 10 years Premium 11,000

  10. Personal Accident Plan Sum Assured 1 million PTD 1 million Hospitalization 50,000 Premium 5,760

  11. Critical Illnesses • Cancer • Renal Failure • Major Organ Transplant • Blindness • Stroke • Myocardial Infarction • Coronary Artery Surgery • Paralysis

  12. Critical Illness Age 40 Sum Assured 1.5 million WOP Premium 28,000

  13. Types of Insurance • Accidental Covers - Credit Cards - Bank Account - Air Travel – PA Plans • Term Insurance • Endowment Plans • Critical Illnesses (Stand Alone) • Health – (Hospitalization) • Disability (Permanent/Total)

  14. Conventional Insurance • SLIC • NJI • EFU • Alico Family Takaful (Islamic) • Pak-Qatar • Dawood

  15. ‘Nobody Plans to Fail, But Many Fail to Plan’

  16. You Can Make The Difference

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