Investment Plans

Plans allow systematic enhancement of wealth with insurance

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Things You Should ask Yourself Before Buying an Investment Product

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A prudent evaluation of investment decisions is very important as it can help you successfully attain your investment objectives. Make sure that you do not enter into an investment in a rush and blindly trust the investment advisor. Spare enough time asking yourself the right questions to enable a smart decision.

1. What is my investment objective?

This is the most important question. To most people the question would sound very obvious and the answer would be as simple as maximizing my return on investment. But this is not all that describes an investment objective. You need to define the amount of funds that you need to accumulate, the investment horizon and how much investment Risk you would be open to take in order to get a good return. Are you looking for a pure investment product or want to go for investment insurance? You need to have clarity over these issues before investing.

2. Is the investment one time or periodic?

Do you want to invest regularly on an ongoing basis or want to invest a lump sum amount? Ask your investment advisors to tell you about different investment avenues that you may opt for.

3. If the investment required is periodic, can I save enough on an ongoing basis?

Be sure that the amount you are committing to invest is not a stretch for you. Keep the amount reasonable and make sure that you can afford to save the same on an ongoing basis. While forecasting your savings do build in a buffer.

4. How much will be the return on investment

This is perhaps one of the most crucial questions for most of us and many times we end up taking our decision merely on the basis of the promised returns. Obviously, the quantum of return is important but the decision should be in context of the risk that you need to take or on the quality of asset where your money will be invested.

5. How much is the lock in period

Know the lock in period before you make the investments. If you think there is a distinct possibility that you may need to prematurely withdraw funds from your investment plan, make sure that you know the penalty or cost of doing so.

6. Does it fit into my risk profile?

Not all investment products guarantee a return. Every time you invest money, there is an associated risk. It is important that we understand the potential risks involved and take a decision accordingly. Like if you intend to invest in equities but only have a year as investment horizon it is likely to entail very high risk. In the worst case you may loose a significant portion of your principal amount.