Today’s Off-beat Blog deals with and explains TEN of my most favorite financial fundas that would be of immense value to all Pediatricians, as such a type of selfless guidance has not been offered to most of us, anytime in our career as Medical Students or even as Professionals.

In the normal course of our practice, such directives are given by Self-appointed Professionals , who may be Mutual Fund Managers, LIC AGENT, your CA, Social Media announcements or some close colleagues. All such free, un-verified advice needs to be taken with a pinch of salt , as these so-called experts could have their personal gains to grab from our pocket . GOOGLE is your handy tool to KNOW MORE regarding most Financial matters.


FUNDA ONE is related to desirable BANKING HABITS 💰🏧💰 Every Professional is under the radar of the IT Department. Therefore, your professional income should be lodged in your Banks, regularly every week/fortnight, to the tune of 80 % of actuals. Rest can be with you as CASH. Anyways, ATMs are always nearby, when there is a need. Enjoy the experience of visiting your Bank after 2 pm, so that the rush hours are over and you are well attended after the Lunch Break. 


FUNDA TWO  Your INVESTMENTS in Stocks and Mutual Fund units are best done in a SIP MODE ( SIP = systemic investment plan ). Never rush to invest in the stock markets as a lump sum amount, as it could be a honeytrap for your hard-earned money. Invest more money, as you feel confident about the chosen scrip. Hold at least for two years, to get TAX FREEDOM ( non taxability ) on the long -term CAPITAL GAINS ( profits made )


FUNDA THREE – relates to your PERSONAL LIFE INSURANCE, as you have a beloved family to take care of, even in your absentia . Therefore, you should build your diversified LIFE INSURANCE portfolio in a graded manner. The following hand-picked tips are for your active consideration.

LIC POLICIES are the foundation stones of your LIFE COVER. They should be acquired for a minimum SUM ASSURED of 5L = FIVE LAKHS . Here the Annual Premium paid is deductible under 80 C section in your Annual IT Returns. Premium wise they are at a higher cost, especially as age advances. Begin at an age between 25-30 years, to keep your Annual Premiums quite LOW .

I would suggest two time – tested options amongst LIC POLICIES.

1. Simple Endowment Policies ( Plan 814 ) of the longest possible tenures , which can be either 50 years as maximum OR till you reach the age of 75 years, whichever applies to your current age . LIC policies should never be for a tenure of less than 25 years .

2. NEW JEEVAN ANAND policy ( Plan 815 ) This has twin payout benefits and it is currently one of the very few policies, where the Life Cover lasts till your last breath


Join SOCIAL SECURITY SCHEMES for another TWENTY LAKHS of additional LIFE COVER. There are some exclusive benefits as laid below

➡️ The Annual Contributions payable – as FC bills – are quite nominal ( say only 20 % ) in comparison to your LIC premiums of comparable Life Cover ( = Sum Assured )
➡️ There is no need for a complete HEALTH CHECK-UP
➡️ Your Family Benefits are secure till your last breath and the FAMILY ASSURANCE BENEFITS have no Maturity Date. It’s LIFELONG
➡️ The Family Benefit Amounts steadily increase as the Membership Strength of the SSS SOCIETY grows in numbers.
➡️ Membership of our Family Benefit Society of IAP currently grants a LIFE COVER of 8.5 LAKHS , although the Annual Contributions are a meagre Rs. 6000 payable only once, in the end of every Calendar Year.
➡️ Currently, I am the Chairman of FBS and it has grown into a robust institution ( based at Hyderabad ) due to my diligent monitoring, financial acumen and futuristic vision. Most of the STALWARTS in IAP are already our FBS IAP members.
➡️ Another such robust SSS scheme is NSSS – based at Ahmedabd and run by IMA AHMEDABAD.
➡️ Just by getting valuable Membership of FBS and NSSS , the additional LIFE COVER of 20 LAKHS can be secured for your beloved family.


Realize and ensure the Immense Value of NOMINEE REGISTRATION
All the Financial Instruments and Assets, ( listed below ) that you possess – must have a Registered Nominee who can smoothly inherit your assets, after your demise. They are listed below :

✳️ Your regular Bank Accounts ( savings / current )
✳️ Your TRADING and DEMAT ACCOUNTS related to Stock / Mutual Funds with your reputed Broker.
✳️ Your General Insurance Policies like Mediclaim, Personal Accident , Vehicle insurance and others.
✳️ Any other movable asset of value .

Your multi-faceted friend, philosopher and guide in IAP,

Dr. Dhananjay Shah
Ped. Practice of 40 years
Crusader @ IAP
Worthy Candidate for IAP PRESIDENT ELECT 2022
Call: 9898003607
Call: 9825478060


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