Marriage Investment: How to Prepare Financially for Your Child's Wedding
Editorial Team - Nov 20 - 9 min. read
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A wedding is not only a ceremony! It is an outstanding celebration of love, family, and culture. For many Indian parents, marrying off their child is a great milestone and, at the same time, an invaluable moment because it defines their dreams, traditions, and aspirations. They imagine events that leave lasting memories and embody grandeur, luxury, elegance, and the best of everything: a majestic venue, exquisite attire, and elaborate celebrations.
Such gigantic dreams, however, demand tight financial planning. Given the yearly increases in the prices of marriages, it's pretty important that one has an apt financial planning set-up before one gets to make this all come true. Thankfully, you could make all these dreams happen by making those timely investments and well-thought-through financial choices with Tata AIA's Shubh Muhurat- parents can help establish a secured financial base where the money part becomes a total no-brainer.
The Importance of Financial Planning for a Grand Wedding
Indian weddings are the most glamorous in the world. It takes multiple days and nights, as people like to add ceremonies to their wedding day. According to reports, the Indian wedding industry is over INR 10.5 lakh crore, with nearly 80 lakh weddings every year. The mid-range wedding comes for an average of between INR 10 lakhs to INR 25 lakhs, and a destination wedding could be more than INR 50 lakhs.
Given the increase in costs and inflation, proper planning is crucial. Instead of taking loans or dipping into retirement savings at the last moment, parents who plan early can be rest assured to enjoy the benefits of financial preparedness.
The linked insurance product do not offer any liquidity during the first five years of the contract. The policy holder will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of the fifth year. Shubh Muhurat Solution is a combination of Tata AIA Life Insurance Fortune Guarantee Secure and Tata AIA Life Insurance Smart Fortune Plus.
Shubh Muhurat is a combination of Tata AIA Life Insurance Fortune Guarantee Secure (Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan) UIN:110N206V02 and Tata AIA Life Insurance Smart Fortune Plus (Unit Linked, Individual Life Insurance Savings Plan)-UIN:110L177V01.
How Much Should You Save?
The amount required for a wedding depends on several factors such as the location, guest count, and scale of the celebration. Here's an approximate cost breakdown of a grand destination wedding:
Expense Category |
Approximate Cost (INR) |
Venue and Accommodation |
10,00,000 to 30,00,000 |
Travel (Domestic) |
3,00,000 to 7,00,000 |
Catering |
5,00,000 to 15,00,000 |
Decorations and Themes |
4,00,000 to 10,00,000 |
Photography and Videography |
2,00,000 to 5,00,000 |
Miscellaneous Expenses |
2,00,000 to 5,00,000 |
Total |
25,00,000 to 72,00,000+ |
The most important thing to do is start investing early so that your child's wedding does not come with financial worries. Tata AIA's Shubh Muhurat is a product that gives structured financial growth in line with life's major milestones, such as weddings.
How Shubh Muhurat Helps You Prepare Financially
1. Goal-Based Savings with Timely Payouts: With Shubh Muhurat, you can be assured of timely payouts that correspond to the critical milestones of the wedding. You might need money to book a venue, finalise the guest list, or organise an extravagant celebration; structured payouts will be there at the time when you actually require them.
2. Sustainable Wealth Growth for Grand Celebrations: Inflation is rising; a wedding costing INR 20 lakhs today would be much more in 15-20 years. Shubh Muhurat offers long-term wealth growth where your savings grow faster than inflation and provide an adequate corpus to celebrate grandly.
3. Comprehensive Life Covering Insurance for Security: The huge benefit of investing in Shubh Muhurat is the comprehensive covering insurance that protects your family's financial security. Even in unexpected situations, your plans won't be affected because your child's dream of getting married won't be disappointed.
4. Exclusive Protection Under MWPA: With the Married Women's Property Act (MWPA), your policy benefits remain exclusively for your family. This ensures that no external creditors or financial obligations interfere with your wedding savings.
5. Premium Waiver for Continued Investment: The Benefit Protect Rider ensures that, in case of unforeseen circumstances, all future premiums are waived. This means that your wedding savings will continue to grow uninterrupted, protecting your financial goals.
6. Tax Benefits for Enhanced Savings: With Shubh Muhurat, you can enjoy tax benefits on premiums paid and policy payouts, as per prevailing tax laws. This enables you to maximize your savings and ensure that more of your money goes toward making the wedding grand.
Why Early Investment Matters
Starting early gives you the advantage of compounding growth, ensuring that your funds multiply over time. Consider this:
If you start investing INR 10,000 per month for 20 years, assuming an average return of 8% per annum, you could accumulate over INR 50 lakhs—enough for a grand destination wedding.
Starting early also means smaller contributions over time rather than large financial burdens closer to the wedding date.
Making Your Dream Wedding Stress-Free
A wedding is celebrated, not something built on financial worries. With the use of Tata AIA's Shubh Muhurat plan, last-minute financial pressures never arise. Moreover, whether there is an expense of the high-end palace-style wedding or perhaps a grand beachside romance or maybe an intimate international location with your money arranged in advance allows you to embrace every moment free of compromise.
A wedding is one of the most cherished moments in life, and every parent dreams of making it special. With Tata AIA's Shubh Muhurat, you can prepare financially to turn these dreams into reality. By starting early, saving strategically, and ensuring timely payouts, you can create a truly unforgettable wedding celebration—without any financial concerns.
Let your aspirations soar as the future of your child's dream wedding is safe with Shubh Muhurat.
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