Vivek Law: Hello and welcome to this special series Finance Made Simple. Joining me today is Kiran Yadav who's the Chief People Officer at Canara HSBC OBC Life Insurance. Thank you very much, Kiran for joining us in this series. Kiran, you manage people who are part of this company and like any other insurance company, your focus is on helping people achieve their financial goals. So, what advice do you give to your employees that if they were to get a one-time bonus or an increment or some other reward? How do you guide them in being able to invest that in a manner that can help them achieve their goals?
Kiran Yadav: Interestingly Vivek, most people who are in insurance stay in insurance for a long while. I think you get hooked to it. So, most people in insurance I think understand the importance of insurance and they do invest adequately in insurance products. My advice would be to other people who may or may not be that aware of it. And if you have a one-time bonus coming in, if you have a kitty that you've inherited - investment in insurance would honestly take you to take you places. For example, when we say long term, I'm looking at a window of say 10 years. So, if you're able to invest a decent kitty today, trust me in 10 years through good planning and a little bit of luck, you will have a decent amount of money stashed up for investments for the future. So, you can look at a single premium product in which you can invest your bonus or a single kitty that you got from someplace. Invest it well. I'm not saying to put all your eggs in one basket. There are multiple options that people can look at. You can look at gold, you can look at properties, you can look at mutual funds, you can look at fixed deposits - if you love safety. But single premium insurance product is a good investment. If you do that over a long period and because there is so much flexibility in built-in products today. So, you can maybe start with a little bit of equity for a few years and towards the end when you've secured your investment you could move slightly towards the debt side. And by the end of 10 years, you would have a good corpus sitting for you. So, I would encourage people to not splurge every bonus that they get on the retail market but really to look at some products from insurance. They'll help you in bad times.
Vivek Law: Alright. Thank you very much Kiran for joining me today and sharing your perspective with our viewers. I appreciate you taking the time out. Thank you.
Kiran: Thank you, it's been my pleasure.
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