My name is Prabhakar K Patil. I was born and brought up in a small town of Bhusawal in Jalgaon. My journey from the small town of Bhusawal to becoming Nashik's topmost and most successful LIC agent for the last 19 years consists of lots of ups and downs, twists and turns.
I had financial crunches from childhood due to a lack of financial literacy and planning by my parents, so I had to start working from an early age. I took the LIC Agency in 1992 as a part-time job while simultaneously studying. I was working in NATELCO (National Telecom of India) as a Materials Manager.
The Economic Times 17/12/2024
The Life Insurance Corporation (LIC) told Parliament on Monday that it has unclaimed maturity amounts of Rs 880.93 crore for the year 2023–2024.
Money Control 16/12/2024
The regulatory reform from IRDAI that attracted the maximum attention was the change in computation of surrender values and charges for endowment policyholders, but the regulator modified several other rules that directly affect retail life, health and general insurance policyholders.
In every growing society, women are back bone of it and we are proud to say that we play a small part in strengthening the back bone by helping women become financially empowered.
First step of financial empowerment begins when we guide parents to make an investment in their daughter`s name so that she has a corpus to rely upon in case of any misfortune happening or despite it. Every girl today should have some wealth in her name as she reaches adulthood.
Second step we take is to help young women understand why it is important to invest money and save for themselves. With growing economy, more and more private sector jobs are opening up which on one hand is good but it also means no retirement pension from government.
So it`s imperative that every girl has a retirement plan for herself.
Third step is to guide every young man to make their wife nominee in all the investment they make and most importantly involve his wife in all the decisions. Wife should always be aware of any investment made so that in case any of any misfortune, she can handles it on her own and doesn`t have to rely on anyone.
With these three steps we make sure that all the women who come in contact with our firm directly or indirectly have a legacy in her name.
We invite you to be a part of our mission and help us by educating women and making them self-dependent on anything financial. A financially self-dependent woman creates a strong family and society.
Happy Women`s Day!
Major Highlights
Valuable Financial Lessons from the Festival of Diwali!
This Diwali, light the lamp of financial freedom
Diwali, one of the most awaited festival of the year is here. It is a celebration of good over evil and light over darkness. It is also a time for shopping, delicious sweets and quality time with family and loved ones.
Diwali is considered very auspicious for new beginnings and ventures. This makes it the perfect occasion to start your journey towards a financial freedom.
Here are some simple yet powerful steps to get started:Plan for Your Medium and Long Term Goals
We all have different financial goals and dreams like planning for children’s marriage or education, foreign trip, buying a house or vehicle, retirement etc. However, without a proper plan, many of these goals remain a distant dream. A small but regular saving can help in creating a huge corpus due to the power of compounding with time. If you are not sure about how to create a financial plan, it is best to seek the help of an expert for financial planning.
Get Rid of Your Loans and Liabilities
Just like our home cleansing ritual before Diwali, one should get rid of all their loans and liabilities at the earliest as they put an unnecessary burden on our finances thus leaving very less scope for saving and investing.
Plan for Retirement
Retirement is a period when your income stops but expenses won’t. Besides due to increasing life expectancy people are now living longer than before. By planning for your retirement when you are young and earning, you can not only have adequate income but also live comfortably without depending on others.
Buy Adequate Health Insurance
Health is the real wealth. Medical issues can crop up anytime putting a huge burden on one’s finances. Lack of adequate money in such circumstances can result in a compromise. Health insurance can ensure there that one can avail the best treatment without breaking their hard-earned savings.
Need to Do Estate Planning
Estate planning can be defined as the process of designating who will receive your assets after your lifetime. The basic objective of estate planning is to ensure that your chosen beneficiaries receive your assets in a hassle-free manner while minimizing their tax liability.Life insurance is one of the best options for estate planning in the world which ensures there is no legal disputes after your lifetime and helps your chosen one to receive your wealth smoothly.