Rs. 82,000 Crore is lying unclaimed in Financial Instruments

A total of Rs. 82,000 Crore is lying unclaimed in bank accounts, life insurance, mutual funds, PF, etc in India.

Even at 6% interest, investors are losing Rs. 4,900 crores every year.

This situation usually occurs when the family is not aware of the insurance & investments.

Rs. 18,381 cr. unclaimed in bank accounts.

Rs. 4,820 cr. unclaimed in fixed deposits and others.

Rs. 15,167 cr. unclaimed with life insurers, LIC alone has more than Rs 7,000 cr unclaimed.

Rs. 17,880 cr. lying in inactive mutual fund folios.

Rs. 4,100 cr. dividends in IEPF.

The best way to avoid such situations are

1. Keep nomination details updated

The best way to avoid such situations are

2. Make family aware of all bank accounts, insurances & investments

The best way to avoid such situations are

3. Create a will.

For More

https://relearnfinance.com/