Scripbox, a leading digital wealth manager, today announced the launch of Jai Hind, wealth management services exclusively tailored to the needs and aspirations of India’s Defence personnel as a token of gratitude in recognition of their service to the nation. It is offering curated wealth management plans that will help them to be financially savvy and future ready.
Protecting the family financially and planning for life after service are the two main challenges for a military person. With today’s announcement, Scripbox brings its pioneering technology-led financial services to equip Defence personnel with customized financial plans, that is complemented by a personalized investing experience with advisors at hand.
“Traditionally, Defence personnel have been more inclined to invest in financial products that may not be the most beneficial for incremental growth. Senior Citizens Savings Scheme for example, has been a popular choice for retiring Defence personnel, but this comes with conditions attached and offers average returns. Defence personnel who may be retiring at different ages given their service tenures, would value tremendously by creating a financial plan to help meet goals at different life stages, such as children’s education, buying a home, holidays, building an emergency corpus and retiring confident”, said Atul Shinghal. Founder & CEO of Scripbox. “My family roots in the Armed Forces and my personal admiration for all who serve our nation, have inspired us to create better financial products for the faujis. At Scripbox, we wish to be their preferred destination for comprehensive wealth management advice to action, while in service or post retirement, that will contribute to their peace of mind”.
Scripbox is introducing three customised plans for Defence personnel currently – Beyond Pension, Retire Better and Retirement Shield.
Beyond Pension allows for making small investments today that can help generate a second income equivalent to the estimated pension after retirement. While there is a pension for defence personnel to depend upon, lifestyle creep post retirement can increase expenses beyond normal inflation.
Retire Better will help active Defence personnel get to a corpus of Rs. 1 crore or 50 lakhs before they retire by investing small amounts while in service.
Retirement Shield is for retired Defence personnel or those who are about to retire to get more out of their retirement funds. On retirement, Defence personnel receive an accumulated corpus that can be strategically invested for a worry-free retirement. Under this plan, Scripbox offers one to one support for goal planning and portfolio management that takes into account liquidity requirements.