An Initiative by AVIPRA Social Welfare Society
Instructions: Answer each question with YES or NO. Be honest—this is a critical reflection of your financial security.
Section 1: Financial Protection & Risk Management
1. Over 60% of families face financial struggles within a year of losing their primary income earner.
If you were to pass away unexpectedly, would your family have enough funds to sustain their lifestyle for at least 10 years?
2. Studies show that 80% of families exhaust life insurance proceeds within 3-5 years.
Do you have life insurance coverage of at least 15-20 times your annual income?
3. Medical inflation is rising at 12-15% annually, and 70% of bankruptcies are due to medical expenses
Does your health insurance provide coverage of at least 3-5 times your annual income?
4. 1 in 4 working professionals will experience a long-term disability before retirement, leading to an unexpected loss of income.
If you were unable to work due to illness or disability, would you have enough resources to sustain your lifestyle for at least 10 years?
Section 2: Savings & Emergency Preparedness
5. Over 78% of individuals live paycheck to paycheck, making them vulnerable to financial shocks.
Do you have an emergency fund that can cover at least 6-12 months of expenses?
6. 40% of retirees experience financial distress due to underestimating future costs.
Are you consistently saving at least 20-30% of your income?
7. Individuals with a structured financial plan accumulate 250% more wealth than those without one.
Do you have a financial plan covering homeownership, education, and retirement?
8. A low credit score can increase borrowing costs by 2-5%, adding lakhs in unnecessary interest payments.
Is your CIBIL score above 800?
Section 3: Debt & Liability Management
9. Households with excessive debt spend 25-30% more on interest payments over a lifetime.
Do you have a structured plan to eliminate all outstanding loans within 5-10 years?
10. Credit card debt is among the most expensive, with interest rates as high as 36-48% annually.
Do you consistently pay off your credit card balance in full each month?
11. Over 70% of families inherit not just assets but also financial liabilities.
Have you ensured full liability coverage so your family isn’t burdened with unpaid loans?
12. Real estate is often seen as a safe investment, yet over 60% of homeowners struggle to liquidate assets in emergencies.
If you had to sell your house today, would you retain at least 20% of its value as cash?
Section 4: Retirement & Wealth Planning
13. 80% of people underestimate their retirement needs.
Have you calculated your retirement needs and ensured you have 20-25 times your annual expenses saved?
14. Education costs have historically doubled every 10-12 years.
Are you investing in an education fund for your child’s future higher education expenses?
15. Market fluctuations impact long-term wealth growth.
Do you review and rebalance your financial portfolio at least once a year?
16. Diversified investors outperform those who concentrate wealth in a single asset class.
Have you diversified your investments across equities, fixed income, and real estate?
Personal Information
