Vikash Jain
Quick Summary
We invest for achieving certain financial goal, such as financial freedom, retirement planning, education of our children etc
Having investing so much of time effort and energy to ensure that we invest in right asset class, we do not pay hid to the simple fact that Protection of Investment is as important as making investment.
What is Unclaimed Investment?
An investment which has been made by an investor but he or she either forgets to claim the same or in case of any contingency one's family is not aware about such investment is called Unclaimed Investment
What all Investment can be Unclaimed?
The following class of investment might remain Unclaimed :
- Old Physical Shares by the investor or ancestral investment
- Provident Fund of the person who has worked in various companies but family might not be aware whether the same has been withdrawn or not
- Unclaimed matured Insurance where insurance premium might have been fully paid but the insured either has forgotten or might have changed the address of their communication thereby forgetting the same
- Inoperative bank account or money lying as fixed deposit with banks
- Old mutual fund units / postal savings units of family can remain unclaimed
- Ancestral properties can also be Unclaimed
FAQ :
An unclaimed investment is an asset that an investor has forgotten to claim, or that their family is unaware of in the event of a contingency.
Various investments can become unclaimed, including old physical shares, provident funds from previous employment, matured insurance policies, inoperative bank accounts or fixed deposits, old mutual fund or postal savings units, and even ancestral properties.
An insurance policy might become unclaimed if the insured has forgotten about it, perhaps after changing their communication address, even if all premiums have been paid.
Yes, inoperative bank accounts or money held as fixed deposits with banks can also remain unclaimed.
Yes, the article stresses that protecting your investment is just as important as making the investment in the first place.
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