The Muthoot Group firm ties up with WillJini Succession Services to launch online will facility
Kochi/New Delhi, 22nd November 2016 – Muthoot Securities Limited (MSTL), the broking and wealth management division of The Muthoot Group, has launched an innovative product – iWill that offers online Will writing that can be completed in just 30 minutes.
MTSL has launched this unique product in association with WillJini Succession Services Private Limited, India’s leading succession services Company.
iWill enables customers using a smart phone to make a Will online in just 30 minutes at a nominal cost of just INR 4000 plus service tax for a standard Will.
The advantage of a Will made online through the iWill portal is that it can be made in confidentiality and from the convenience of one’s location of choice without any cumbersome visits or calls to any lawyer or third party.
This facility can be availed online anytime and anywhere in the country. It is also open for NRIs.
“While financial services institutions are well aware of techniques for growth, planning and management of wealth, it has been observed that the last leg of financial planning cycle i.e., Succession Planning is still relatively a grey area,” said Mr. Alexander George Muthoot, Director, The Muthoot Group.
“Currently Will writing is mostly done by Ultra-High Net worth Individuals through their legal advisors but other mid-sized wealth owners like MSME owners/ entrepreneurs, professionals, corporate executives, retired individuals and NRIs etc., tend to avoid or postpone Will writing due to various reasons. However the coming together of Muthoot Securities and Willjini Succession Service Private Limited will certainly enhance awareness with regards to this important aspect of Financial Planning,” he added.
The procedure for making a Will through the iWill portal essentially involves three simple steps viz. free of cost registration at iWill portal, online payment and filling up required details to generate the online Will. The process is convenient and does not require stamp paper or visits by lawyers. The Will is kept absolutely confidential and is legally binding. An expert backend panel of lawyers, company secretaries and accountants are also provided by the portal for online services for making Will as per Indian laws.
Mr. Jatin S Popat Founder of Willjini.com added, “We are glad to be associated with The Muthoot Group, to provide succession planning services. We are also confident of leveraging the ethical branding of Trust and the vast network of The Muthoot Group pan India to popularise the relevance of this product.”
“Making a Will during one’s lifetime is important for ease of transfer of asset ownership. The absence of a Will can lead to property disputes or unfair distribution of wealth. Writing a Will can surely provide peace of mind and also the assurance that the family will continue to be bonded in future,” Mr Popat added.
Mr G R Ragesh, CEO of Muthoot Securities Limited said, “Succession planning is going to be a sunrise sector in India, as succession and will writing services have already evolved in the last two decades in developed countries like US, the UK, Canada, etc. To that extent, the Muthoot iWill product is likely to become extremely popular for not only being innovative, time saving and cost effective, but also reliable and customer friendly”.
Customers can walk in to any of the 4600 plus branches of Muthoot Finance across India for additional information on the product, or visit the dedicated website for Succession Services at www.muthootiwill.com
About The Muthoot Group (www.muthootgroup.com)
The Muthoot Group’s business origins can be traced back to 1887 when it started as a small trading business enterprise in Kozhencherry, a remote village in the state of Kerala. Since its formation, the company, under the leadership of its key management – Shri M.G. George Muthoot (Chairman), Shri George Alexander Muthoot (Managing Director), Shri George Thomas Muthoot (Jt. Managing Director) and George Jacob Muthoot (Jt. Managing Director) has broadened its scale and widened its geographic scope of retail operations.
Today, The Muthoot Group is a multi-faceted business conglomerate that has been serving the nation for over 129 years.
The formidable business empire comprises of 18 divisions including Financial Services, Wealth Management, Money Transfer, Forex, Securities, Vehicle & Asset Finance, Media, IT, Healthcare, Housing & Infrastructure, Education, Power Generation, Leisure & Hospitality, Plantation & Estates, Precious Metals, Travel Services, Housing Finance & Overseas Operations.
Muthoot Finance, the flagship company of the Group, is today a ‘financial supermarket’ providing a bouquet of financial services including Insurance, Foreign Exchange, Money Transfer, Gold Coins, Demat Account, Debentures (NCDs), PAN Card, Travel Services and Muthoot ATMs, besides Gold Loans – all under one roof.
Headquartered in Kochi and having its Corporate Office in New Delhi, the company operates through a network of +4600 branches/group offices across 26 Indian States &Union Territories. Globally, it also has its presence in USA, the UK, UAE, Central America and Sri Lanka.