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Financial Service for Physicians

There are lots of firms offer varieties of financial planning for physicians, ranging from Students Loans, Doctors Loans, Business Loans, and basic insurance to customized solution on wealth management, Tax Optimization, Risk management, Financial Planning, Estate Planning etc

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Financial Service for Physicians

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  1. Financial Service for Physicians There are lots of firms offer varieties of financial planning for physicians, ranging from Students Loans, Doctors Loans, Business Loans, and basic insurance to customized solution on wealth management, Tax Optimization, Risk management, Financial Planning, Estate Planning etc Loans: Education Loan: Getting education loan for medical field is quite easy. You can take professional graduation / post- graduation courses in India / Abroad. No loan for Part time/certificate courses. Repayment starts after course completion + 6 months or gainful employment whichever is earlier. Loans to Acquire / enhance infrastructure: This loan primarily given to construct / purchase/expand/modernize hospital building, hospital building cum residence, setting up nursing home, poly clinics etc., and this loan extended to purchase medical equipment, hospital and practice accessories, ambulance and anything necessary for the hospital/Practice. Usual max loan tenure is 7% and banks charge 3-4% over and above bank rates (roughly around 13.5%) All other loans (Pre-fixed with Doctor): Physicians are highly preferred customers for financial and non-financial institutions. They extend all kinds of loans to physicians as there is a least chance of default and doctors hardly look at interest rates. Insurance: Many doctors invest heavily in insurance protects (In Financial assets next to FD) and do not have essential covers to their assets, hospital and more importantly professional Liability policy. Never mix insurance and investment. Yes, physicians too need health Insurance. Wealth Management: Banks do major role in managing Physicians wealth. Physician serviced under different fancy names like Preferred Customers, Privilege customer, Private Wealth customers etc. Recall how many people managing (!) your wealth - Insurance agents, banks, stock brokers, wealth managers, Mutual fund distributors and chartered accountants to name a few. Remember how you are categorized is not important but how your money working for you matters. Financial Planning: Experienced financial planner for physicians will be able to address all aspects of a physician's financial plan, not limited to: Cash flow management, asset protection, risk management, tax optimization strategies, retirement and estate planning. They can rope in allied professionals from other disciplines for complex matters. Almost all sales people use the world financial planning/financial consulting/financial advisory to reach gullible Physicians. So when you are scouting for Physician financial services, consult a fiduciary financial advisor like SEBI Registered Investment Advisor. He would be able connect the dots and give solutions for your financial well being. Wealth Traits Financial Planners, No. 9, Maven Projects Centre, Dr. Thirumoorthy Nagar 3rd Sreet, Nungambakkam, Chennai - 600 034. FaceBook Twitter Google + Linkedin info@wealthtraits.com www.wealthtraits.com

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