How to cover risks before its too late??

The last strategy you can employ to manage investment risk is to insure against it. If you have car insurance, homeowner’s insurance, health insurance, or any other type of insurance, you are already familiar with this approach.

With traditional forms of insurance there is a cost (the premium you pay) to insure that specified losses are covered. Insurance on investment returns works in a similar manner, and is often accomplished with the purchase of an annuity. With a fixed annuity (and things called immediate annuities and indexed annuities) your “cost” is that you forego higher returns in exchange for a guaranteed outcome.

Good one Anita, most people invest blindly but later they are trapped & find no way out. I would like to add...You need to back up your nominations with a will. After all, after the death of the investor, the nominee receives the amount as a trustee of the estate of the deceased.

The AMC (asset management company) or the mutual fund is discharged from its duties by transferring the units of the deceased to the nominee, but the other heirs of the deceased can certainly make a claim on the proceeds.

In this day of increasing uncertainties, it is certainly advisable to pay attention to these small but critical aspects of your investments.

Its necessary to appoint our nominee because incase any incident so our investment will cover our family's life. and we r prepare to face each type of difficulties which improve our passances, cleverity and our knowledge about life and also gain exp.

so we can ensure before any investment that we cover our investment by using nominee facilities.

now what we do to help those family members were died at manglore's plan crash ? 

Anita you are right, But it is a part of financial planning. We are maintaining our diversified portfolio to overcome any situation. It includes insurances, investment - liquid and others for our futures.

But like Mr. Sinha i have a point but little bit different that Nomination is required i agree. But communication for same is much more important among our family members. I have seen so many cases where family members doesn't have any idea about Life Ins. policies n all taken by member. Whereas they can claim benefit of insurance even then nomination was not there after completing some formalities. But if family haven't any idea about it then who will claim for same.