Family View | Consolidated investments

Idea: Consolidate view for the family across Investments and Insurance

I manage accounts for 8 members of my family. Across these 8 members, there are investments across instruments, term insurance, health insurance and LIC policies.

Each of these instruments are accessible individually through their websites at an individual level. However, it would be much helpful if there was a family level view of the updated investments value, insurance policies due and payment reminders - so as to view a complete performance report for the entire family.

In the context of the current covid situation, it would be useful if all insurance documents are stored and accessible by each family member individually. Since in most cases, insurance policies for a family is taken care of by one person in the family, it is not usually available to access, when needed, by other members of the family. In the same context, if there is a way for Jupiter to identify the emails that contains the policy copy, payment confirmation or renewal confirmation and tag a link of that/those email (s) to the payment line in the bank statement as well as the Insurance section for the family, tracing that information at the time of need would be much helpful.

Welcome to the community Mohit!

Understand the need for a consol view of investments and insurance for the entire family.

For insurance specifically, what you could do is create an account with one of the insurance repositories, allows you to add all your insurance policies in once place in a digital format.

Wanted to specifically understand though, why would a payment narration/ proof in the bank statement be needed?

Did not know about the Insurance Repositories. Will try that out.

A payment narration / proof in the bank statement
Consider each line in a bank statement as a voucher - the email containing the payment confirmation/policy document - would be the supporting of that voucher. The idea was to tag payments made with email receipts so that we can identify each transaction in the bank statement - it is difficult to tell from a narration such as INF/q2333233r3432323432 what the transaction was about. While there could be multiple other ways to identify and schedule reminders for repetitive transactions (such as insurance policy renewals), I thought identifying a bank transaction as repetitive would require you to review the underlying document of that transaction. Adding that narration / proof in the bank statement could be used as way for the user to ratify that the transaction is repetitive in nature.

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