Classify your Asset documents!

  May 10, 2020

Classify your Asset documents!

Hi all, you all are at home since 24th March 2020, it is been more than a month now. It could be the first and only experience in all our lives to have such a big break. First few weeks, you would have been doing lot of things, plans, exploring your hidden talents or interests like cooking, singing, baking, weaving, painting etc. even working on how to break some of your undesired habits.

Initially you were un-routined and found very difficult to adjust with this sudden lockdown, chaos of news, social media messages, phone calls. Gradually you got set to this routine, stopped watching news frequently, staying at home, taking care of you and your family, making grocery and other arrangements.

Staying at home, you are thinking of lot many things such as financial planning, economy, world economy, life post corona, medicines on corona, vaccines on Covid-19, your life, your financial security, your kids’ education, your job or business, lot many things. Right now it is quit obscure about what would be the next.

But yes we can make best of whatever we have viz. all our assets.:



  • Bank Details
  • Fixed Deposits
  • Recurring Deposits
  • DMAT Accounts
  • Mutual Funds
  • Stocks and Bonds
  • Income Tax Documents

Things to be checked in case of Financial Assets:

  • In the above mentioned accounts would be whether your contact details are updated, what is the mode of holding and is there a nomination registered on all the accounts, funds and DEMAT accounts.
  • In case any account has been inoperative for a long time, you may consider closing such accounts.


  • Property Documents
  • 7/12 Extracts
  • Share Certificate
  • Agreement and Index 2
  • Copies of Loan Documents
  • Rent Agreements
  • Mortgage Documents

Things to be checked in case of Physical Assets:

  • Whether the property documents are physically with you or your lender.
  • Original property documents are to be taken back at the time of final loan settlement.
  • Please check the nomination on the share certificate of your housing society.
  • Make sure names on all documents are consistent viz. name of holder on the flat and the name of the holder on Share Certificate, Property Tax Receipt, Electricity Bill etc. If not it would be better to have the same updated as soon as possible.
  • If loan has been settled, it would be advisable to keep the NOC Certificate from the institution for your records too.


  • Life, Health and General insurance Policy Documents
  • Premium Payment Receipts
  • Nomination Details

Things to be checked in case of Insurance Assets:

  • Contact details on the insurance policies. Make sure all Insurance Documents are placed at one place, and your family is well aware of it.
  • Check the nomination details on all Insurance Policies. Update nomination in case it is needed.
  • If online payment has not yet activated, kindly activate online payment to avoid miss on any Insurance Premium.
  • You may also open an e-Insurance Account where all the policies can be stored in a digital mode and would be easily accessible to your family members.
  • If a policy had been mortgaged to any Institution / Bank and the loan has been settled– make sure the policy re-assigned back to you.
  • If a loan had been taken from the Insurance Company and has been repaid, make sure the documents have been taken back from the Insurance Company.


  • Employment Records
  • PF
  • Gratuity
  • Superannuation
  • Form - 16
  • UAN Details
  • Salary Slips

Things to be checked in case of Employment Assets:

  • The most important part in Employment Assets is to check whether your PF, Superannuation and Gratuity have updated nominations.
  • PF withdrawal can be a challenging task, if the nomination is not there or the nominee is no more. Regular updation of nominee is the best way to prevent this. Check if all PF accounts have been merged or have been transferred to the common number.
  • Wherever needed please have the same transferred to the UAN or have the same withdrawn if there are some issues.
  • ESOP letter or communication which spell the ESOP details and any other benefits which will come from the company need to be checked and record maintained.

Stay Healthy, Stay Calm, Stay Blessed.