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Financial Planning is an exercise aimed at identifying all the financial needs of an individual and translating these needs into monetarily measurable goals at different times in the future. Financial Planning ensures that right amount of money is available in the right hands at the right time in the future to achieve an individuals financial goals
Determine
current financial situation Develop financial goals Identify alternative courses of action Evaluate alternatives Create and implement financial plan Re-evaluate and revise the financial plan
Sophisticated financial advice to cope with changing life situation Non-biased opinion on ones insurance needs Help dealing with ones retirement planning Optimum asset allocation and investment strategy formulation Efficient tax strategy
1.
To study the growing importance of financial planning. 2. To study the financial planning and various investment avenues Preferred for financial planning by K.L.University employees
Data
collection : Primary Data Tools used in Data collection: A QUESTIONAIRE DESIGN is used in collecting data. Target Population: The employees of K L University. Sample Size: The sample size is 80. Method of Sampling: Random sampling method is used. Tools for Analysis: The percentage method and Graphs
20.3% of respondent have whole-life and child policy. The Life insurance policy gives Tax-saving benefits. 36.8% of respondents have Health insurance. The respondents having health insurance realize the importance of health insurance policy. Still there is potential for health insurance market.
67.5% of
important .The remaining 32.5% still did not realize the financial planning is very important in todays
world
The health insurance is beneficiary in terms of money saving. Every individual should have health insurance.so that benefits as individual as well as to the society.
Respondents need to diversify their investment in to various avenues so that the risk can be reduced.