FLAME Newsletter - June 19, 2013 


At times, customers are not aware about the things that their policy covers or does not cover. They claim for illnesses that the policy does not cover, which leads to disappointment later. It is important to discuss all the terms and conditions very carefully with the insurer at the time of purchase Manasije Mishra, CEO, Max Bupa Health Insurance


Do you need a financial planner?

It is often said that Indians are good savers, but poor investors. Indians usually lack the financial knowledge to plan for the long-term. They fail to save for their retirement but won't think twice before breaking their savings to splurge on a foreign tour, weekend home, etc. Most do not even maintain accounts of their monthly expenses and savings. They are unable to provide rough estimates of how much is spent on what purpose... Read more 

Why should one not mistake credit as income?

Every credit or a loan needs to be paid back. It is not to be treated as money earned or income. When we earn the money from salary or wages, etc, it is our income whereas credit or loan is not our income. On the other hand, repayment of the installments of credit is the expense... Read more

How best to manage your finances?

Our finance is like a pitcher with a tap for outflow at the bottom of it. The water flowing into the pitcher is our income and the water flowing out of the pitcher are our expenses... Read more

How do I financially educate my child?

Giving your children whatever they want, whenever they want is poor parenting. It could leave the child unprepared for financial challenges in the future... Read more


What does opportunity cost mean for your finances?

Opportunity cost is a benefit or profit that you pass by to acquire or achieve something bigger. It is mostly used to analyse decisions that require allocation of money by companies or individuals... Read more


Retirement Planning

The process of determining retirement income goals and the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, estimating expenses, implementing a savings program and managing assets.


Affordable insurance must for lower income groups: IRDA

IRDA gets ready for product refiling process

AMFI extends fee waiver for new distributors till Sept


FLAME (Financial Literacy Agenda for Mass Empowerment) is an IIFL initiative to promote financial literacy amongst the masses in order to make them an integral part of Indias spectacular growth story.

In an era of accelerating GDP and rising per capita growth, financial literacy has become more critical than ever before such that we all reap the tangible benefits of the nations economic prosperity. Financial inclusion has been quite high on the governmental agenda, given its emphasis on widening the Banking & Financial services network across the country. IIFLs FLAME initiative stands committed to complement this effort by helping common people gain financial growth and security though better awareness and education on the variety of financial products while avoiding the lure of and loss from unrealistic claims made by unscrupulous agents and ponzi schemes.

Our objective is to light a FLAME, as the name suggests, which will set ablaze a chain of FLAMEs across the country. The new-found light of knowledge will undoubtedly dispel the dark clouds of financial illiteracy and ensure the bright sunshine of financial growth and prosperity.

This portal is but one of the various IIFL initiatives that would be part of FLAME.

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