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Planning to set up an independent venture? Secure your funds from associated risks

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Planning to set up an independent venture? Secure your funds from associated risks
March 30, 2023

In this policy, the investment risks in the investment portfolio is borne by the policyholder

Being into business always involves risks. Whether it is a start-up or an expansion or an established business, the risk is there. Here are seven ways to mitigate business risk in an efficient manner.

Keep reserve cash

Many businesses, especially ventures have a major risk of managing cash flow. The investor has to calculate the money needed to run the monthly operations and how long the money will last in case there are no receivables. A slowdown in accounts is not healthy either, so a calculation of total payments and outstanding amounts needs to be evaluated. Reserve cash and proper planning can help in avoiding the risk of low cash. If there is a cash crunch, then the business might have to be closed.

Indemnification Clause

There can be external forces which might cause great damage to the investor’s business. To avoid the same, indemnification is needed. For example, the business is into software distribution. The purchasing of the software is done from a vendor and it turns out that he/she is not authorized to do so and you also get sued by the rightful owner. In that case, indemnification can help in bail out.

Invest money in capital building products

Additionally, any businessman should not only safeguard the business by taking insurance he/she should also safeguard the future of the family. Investing in money making instruments like ULIPs  can help the investor in securing the family and build capital for the future which can help at the time of emergencies. 

As ULIPs offer the dual benefit of insurance and capital building, it can benefit the investor in the long run. Say, if the business is facing a shortage of funds, then it can be managed by the profits made by an investor after investing in capital building products. These investments can serve as strong pillars during hardships and might change the situation completely.

Losses can happen anytime! The best way is to prepare for them. Take insurance to safeguard yourself and your budding business from any hardship. Check out HDFC Life Click 2 Wealth to know more.

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ARN: ED/09/19/16026

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Disclaimer

The Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of fifth year.

The name /letter 'HDFC' in the name/logo of HDFC Life Insurance Company Limited (HDFC Life) belongs to HDFC Bank Limited and is used by HDFC Life under licence from HDFC Bank Limited.   

HDFC Life Click 2 Wealth (UIN:101L133V03) is a Unit Linked Non-Participating Individual Life Insurance Plan. This version of the product brochure invalidates all previous printed versions for this particular plan. For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale. Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. HDFC Life Insurance Company Limited is only the name of the Insurance Company, The name of the company, name of the contract does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.  

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