Invested! Forgot! Claim it, 22,000 Cr unclaimed

May 21, 2012 11:12
Invested! Forgot! Claim it, 22,000 Cr unclaimed

As the financial crisis is mounting major part of our hard earned money is spent for essentials which prices spiraled. In the given situation investing for future becomes a night mare. But even in these days of scarce survival there are some people who have invested and forgotten. Reasons could be many like the investor the male earner of the family would not have disclosed his investments.

Or on the other hand the investment would have been made after harassment of some insurance agent and then forgotten. Like in most cases we invest in a policy out of compulsion, but later forget or forego to pay the next annual investment.  The government has so far reckoned that Rs 22,000 Cr of unclaimed money has been lying unutilized in insurance companies, mutual funds, corporate houses, banks and the Employees' Provident Fund Organisation.

A private survey done by a leading media source claims, that the long term policies are most forgotten ones. Insurance policies and long-term instruments top the list of most forgotten investments. While analysts claim this could happen with investors who invest in multiple stocks fail to track some. This is a regular problem claims the media source, `every household will have a dormant bank account, or a long-forgotten insurance policy or expired dividend cheques.’ Hence it is better to reckon your investments and try claiming the ones that you have lost track.  (With Inputs from Internet- Aarkay)

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