Not sorry to burst your bubble
I am too busy
I am too busy with daily routine. Finding it difficult to spare time to understand and compare investment options.
It hardly requires an hour to discuss and plan for your financial goals with a knowledgeable Financial Advisor. Besides, if you still decide to postpone your decision of investing, you have to bear the Cost of Delay.
I don’t think anything will happen to me
I have a healthy lifestyle. I do not have any illness/diseases. I am absolutely safe.
No one on earth is immortal. Accidents never happen with prior notices. . Also, chances of illness/diseases also increase with age and are inevitable.
It’s too expensive
I can barely manage to save after meeting my expenses and paying EMIs. Premiums will be additional burden for me.
If saving is burden for you now; think critically over how your family would cover their lifestyle expenses in your absence.
Too complicated to understand
Its very confusing to understand the terms and features of instruments. The jargons are too complicated to interpret.
There is a wide range of investment instruments and each product has its own unique features and benefits. Consult your Financial Advisor to help you access your lifestyle and needs and suggest best product to you.
I don’t need insurance
I am financially sound. I have a affluent background and my family/ friends will support my family in bad times.
Insurance/Mediclaim are products of transferring financial risk to Insuring company in case of unforeseen events. You may save huge amounts of financial losses by just paying a fractional premium amount.
No attractive returns
I do not see any attractive returns from the premiums. I would rather invest somewhere else for higher returns.
The purpose of products like Insurance/Mediclaim is not to create wealth; but to protect it in tough times. Consulting a professional may help you suggest and select an appropriate product that may give you money back/ retirement benefits by accessing your risk-taking capabilities.
I can buy insurance online on my own
I can directly compare and buy insurance/Mediclaim online through websites. Why shall I involve agents and pay commissions.
It is highly probable that you may end up buying a product having minimum features or product that may be irrelevant as per your needs just to save a few bucks and regret later when it comes to claim settlement.
I already have coverage
I am covered under my company's group insurance or have taken policy previously. I don’t need additional coverage.
In most cases where company insurance/ historical insurance is talked about; it is observed that the coverage is insufficient to meet lifestyle or medical expenses when adjusted as per current inflation rates. Also, the advantages may be terminated at retirement when it is actually needed.
I do not earn, why do I need coverage
I am a home maker/student and not a bread winner for home. I do not need to be covered.
You might still want to be covered for medical expenses in case of any illness or plan for your education and retirement in a well organised way so that your health and old age does not become a burden.
Investing is like gambling
Investing in equity or mutual funds is a matter of luck. It’s too risky as well and I can lose everything that I invest.
A lot of fundamental and technical analysis is to be done in order to get positive returns from markets. Qualified professionals spend subsequent time and efforts in understanding and interpreting market sentiments and take calculated risks to protect and build wealth consistently in long run.
Traditional instruments (Real Estate/Bank FDs) are the best
If I can get guaranteed and good returns from traditional instruments, why shall I switch to complicated and risky instruments.
Traditional instruments carry risks like- interest rate risk, reinvestment risk etc which increase during uncertain times like crisis, pandemics, political instability, war scenario etc. You might be able to find more competitive/relevant instruments via professional help as per your risk profile.