The Muthoot Group said its broking and wealth management division, Muthoot Securities Limited, launched iWill — a service which offers online will writing in just 30 minutes.
Muthoot Securities has launched this product in association with WillJini Succession Services Private Limited.
“iWill enables customers using a smart phone to make a will online in just 30 minutes at a nominal cost of just Rs 4000 plus service tax for a standard will,” it said.
“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,” it said.
This facility can be availed online anytime and anywhere in the country. It is also open for NRIs.
The procedure for making a will through the iWill portal involves three simple steps — 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.
“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,” said Mr. Alexander George Muthoot, Director, The Muthoot Group.
The Muthoot Group was established in 1887 in Kozhencherry, a remote village in the state of Kerala.
The group comprises of 18 divisions including financial services, wealth management, money transfer, forex, securities, vehicle & asset finance, media, IT, healthcare, housing & infrastructure, education, power generation and others.