2023's Parents Day will celebrate the unseen heroes in our lives.

All parents and children wish you a happy Parents' Day. parents continue to look after their children even when they are adults they are working and supporting themself. parents always give their children gifts, attention, and everything ready to give them.

Parents Day we celebrate the parents who have kindly given everything they have to their kids.

All of you adult children (who are now self-sufficient because of your parent's hard work, prayers, and blessings) may take this chance to give your parents a present that will help them in their golden years.

Here are some gift suggestions for your parents that you, as working children, can be sure they will keep in mind always.

As children become older their needs for retirement income will increase.  If both parents are employed you can get them guaranteed income insurance policies where you put in 5/6/7 years salary of premiums and the parents get benefits till they pass away. The interest rate will be higher than the present fixed deposit rate offered tax-free, as well by the bank.

Those with a higher risk tolerance might invest in ULIPS which aims to maximize wealth. Children can pay yearly premiums which can be invested in equity funds and build the corpus over 5-7 years.

You can invest an entire amount in an annuity with a return of premium option for parents who are close to retirement age so that they can start receiving a monthly income right away.

There is an advantageous relationship between parents and kids! As the kids become older, it comes to be a role reversal. Parents who took care of their children's needs are now being financially, mentally, and physically cared for by their own children. Specifically in India, where children continue to be viewed as an investment for their parents' retirement, working children usually serve as a source of assistance for their parents. Why do you not buy term insurance? If the parents are required to get term insurance, they will receive money in the event of an unfortunate incident to help them.

Healthcare costs have increased. the absence of medical supplies had an impact on many people. Early health insurance enrollment for parents is only necessary to ensure the parents have sufficient protection. A person needs and makes use of health insurance as they age. it is important to get health insurance as soon as possible since once the parents become very old or have a lot of issues it would be hard to find suitable insurance coverage and a low price.

As children, one might wish to celebrate their parent's milestone milestones such as their 60th, 50th, or 80th, or even take them on a trip across the globe or an all-India pilgrimage. In particular, if done with extended family and friends, these activities may get costly if done on a big scale. By investing in ULIPS or other high-returning savings products as young people, you may plan ahead to pay for these certainties in life. Therefore, it's a good idea to start making those purchases early so that their special day may be remembered in style. Their beaming smiles will be kept as a happy memory.

Let's make a promise to care for all our parents financially on this Parent's Day. Let's make plans and take steps right now to make sure they enjoy their golden years.

I hope you spend the day pleasing your parents with their prayers.

Wishing you all a very Happy Parent's Day.

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