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Safe Investment Options for Protection Against Rising Expenses

Updated on August 8, 2016

Increasing Household Income

According to an article in the Times Of India, the average salary increase of Indian employees is estimated at 10.7% for the Financial Year 2016. The Annual Compensation & Benefits Trends Survey India 2015 also stated that this number is 0.4% higher than the previous year’s 10.3% increase. “The increase of 40 basis points (bps) in the projection over last year's actual figures is guided by a conservatively positive market sentiment. While the attrition rate for financial year 2014-15 is higher than the preceding financial year by 30bps, the hiring outlook for the current year looks promising", said Vishalli Dongrie, Senior Director of Deloitte in India, the firm that conducted this survey. The fields that saw a major rise in numbers, with an estimated average increase of 12.1%, were the pharmaceuticals, life sciences and health care industries.

The salary and appraisal of an employee is in direct reference to the company's health and their outlook for future. This in turns represents the country's financial stability and better approach to development. The reasons for this generosity from employers include the comparative decrease in inflation rates in the country and the strength of the Indian Rupee in the international market. Although the salary appraisal rate is 10.7%, it is not mandatory that everyone will get the same rate of increment. It can increase up to 15-18% depending upon high potential, skill and talent. For low performers it can go down to 6% matching the global inflation trend.

Increasing Expenditure

According to studies, it was estimated that around 250 and 300 million people would reach the socio-economic landscape called the middle-class in India in 2015. The impact of the rise and fall in prices and of the rising salary is much higher for this group, as compared to the rest of the population. Studies also predicted that India's middle class would account for around 20% of the country's total population in 2015. A study by the international consulting firm McKinsey and Company said that India is set to become the fifth-largest consumer market in the world by 2025.

Among the reasons for this increase is the rising household income, which is estimated to triple itself by 2025, from the levels in 2005. With this rise, more people living below the poverty line will be able to sustain a more stable and secure life. It is estimated that the middle class population will swell up 10 fold by in 2025 to reach 583 million, from the 50 million in 2006. This also means an increase in purchasing power, pointing to an increase in the consumer market and thereby consumerism. The current economic policies of our country have made way for an increased number of foreign players entering the markets. This has opened up a new horizon for the customer in India. The expanded horizon and the increased income will make India the top consumer market in the world in no time.

Investment Options for Financial Security

Considering the rise in the market horizons and the ever increasing income of the people in India, the time is ripe to protect your and your family’s future. A majority of the people who belong to the Indian middle class are family oriented and do consider their family’s welfare as a matter of primary concern. The best time to start working towards this goal of family welfare is from the early stages in your career. Experts say that it is better to invest in a suitable ULIP plan, which will supplement your income as well give good life cover.

These Unit Linked Insurance Plans or ULIPs are investments that will safeguard your family in case of any unexpected events. These investment plans are a solid way to back your vision and to make your dreams come true. They will also give a sizable life insurance cover for you in case of any eventuality. The earlier you start investing, the better, as the overall investment will be lead to greater returns. It will also make sure that the consumer in you remains happy with the premium amounts at its lowest making sure you have enough to fulfill your everyday desires. The tax benefits associated with these ULIP plans will also make sure to leave you with enough and take care of all your necessities and luxuries to enjoy life with the guarantee of a safer and brighter future.


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