"LIC" v/s "HDFC SLI + Mutual fund"?
I enjoy 2 LIC Jeevan Anand Policies for which I am paying 26,000 /- p.a. (they are merely 1 year old)
Assured warranty = 5 lakh, returns on parenthood = 10-15 lakh (as per my knowledge)
Recently I hear of HDFC SLI which can supply you shelter shield of > 15 lakh for solitary 5000/- p.a. (but no returns on maturity).
I am not long married and my age is 27 yrs.
So I hold 2 priorities-
(1) secirity shiled to family
(2) investment in flea market (e.g. mutual fund) a.s.a.p. to grasp more benefit of compounding.
so I be wondering to close my LIC policies and distrucute my money as-
(1) 5000/- in policy liek HDFC SLI, so that my home will get hold of protection of > 15 lakh
(2) 21,000/- contained by mutual funds which after 20 years will impart me returns far better than LIC (as per my knowledge)
I know that MF is riskier than LIC, and I will own to preserve regular see on it, so that I can divert / repeal money when open market go down.
Am I thinking of right route ? or I am putting my money in risky opening ?
Answers:
HDFC SLI is an Term insurance development. There are cheaper Term insurance task next HDFC from SBI & LIC. These own lower premium & low denial rate.
Your thinking roughly MF is OK. These are risky but make available best return when you invest regularly & for long possession. At equal time keeping a assured return conspire close to LIC is also required (as you should own diverified investments).
I will warning you close one of your LIC policy & invest in MF(if possible don't decrease the investment in MF from 21000). GO for a cheaper possession insurance cover approaching from SBI or LIC. You total insurance should be 6-7 times of your annual spending (not income).
Hi Prasant,
I reckon you've taken a right outcome of planning to own a life span policy that could protect your ancestral for the mischances.We should see investment a separate instrument apart from energy coverage.You in recent times invest Rs,5000/- and enjoy a pleasant natural life forgetting something like it.But previously that you enjoy to ensure your surrender attraction to be at least possible equal to your investment and if you want to invest in MF,look for perfect rate ones.
Hi Prashant,
Ur thinking in a correct posture to some extent than discontinuing the LIC jeevan Anand plan you can fetch on beside it. You requirement a residence assurance plan of atleast 15 to 20lakhs.
I work for HDFC Std Life and an powerfully equipped to bequeath you complete details and analysis going on for these plans.
Get contained by touch for more details
gratitude
Dear Mr.Prashant
Your model of investment and occupancy assurance are ok, but it is not advisable to surrender the policy you enjoy, since you loose the entire amount of Rs26,000/- which you might enjoy already compensated.
If you clear Rs.4514/- per annum for 25 years you can go and get Rs.15,00,000 risk cover beside LIC's Anmol Jeevan I (cheaper than HDFC SLI as per your statement)
invest in ELSS funds to avail excise benefit as capably as large returns.
I recommend SBI Magnum Tax Gain and HDFC Tax Saver
polite luck
pnkmurthy(a)YAH00.com
http://www.geocities.com/pnkmurthy/lic.h...
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Assured warranty = 5 lakh, returns on parenthood = 10-15 lakh (as per my knowledge)
Recently I hear of HDFC SLI which can supply you shelter shield of > 15 lakh for solitary 5000/- p.a. (but no returns on maturity).
I am not long married and my age is 27 yrs.
So I hold 2 priorities-
(1) secirity shiled to family
(2) investment in flea market (e.g. mutual fund) a.s.a.p. to grasp more benefit of compounding.
so I be wondering to close my LIC policies and distrucute my money as-
(1) 5000/- in policy liek HDFC SLI, so that my home will get hold of protection of > 15 lakh
(2) 21,000/- contained by mutual funds which after 20 years will impart me returns far better than LIC (as per my knowledge)
I know that MF is riskier than LIC, and I will own to preserve regular see on it, so that I can divert / repeal money when open market go down.
Am I thinking of right route ? or I am putting my money in risky opening ?
Answers:
HDFC SLI is an Term insurance development. There are cheaper Term insurance task next HDFC from SBI & LIC. These own lower premium & low denial rate.
Your thinking roughly MF is OK. These are risky but make available best return when you invest regularly & for long possession. At equal time keeping a assured return conspire close to LIC is also required (as you should own diverified investments).
I will warning you close one of your LIC policy & invest in MF(if possible don't decrease the investment in MF from 21000). GO for a cheaper possession insurance cover approaching from SBI or LIC. You total insurance should be 6-7 times of your annual spending (not income).
Hi Prasant,
I reckon you've taken a right outcome of planning to own a life span policy that could protect your ancestral for the mischances.We should see investment a separate instrument apart from energy coverage.You in recent times invest Rs,5000/- and enjoy a pleasant natural life forgetting something like it.But previously that you enjoy to ensure your surrender attraction to be at least possible equal to your investment and if you want to invest in MF,look for perfect rate ones.
Hi Prashant,
Ur thinking in a correct posture to some extent than discontinuing the LIC jeevan Anand plan you can fetch on beside it. You requirement a residence assurance plan of atleast 15 to 20lakhs.
I work for HDFC Std Life and an powerfully equipped to bequeath you complete details and analysis going on for these plans.
Get contained by touch for more details
gratitude
Dear Mr.Prashant
Your model of investment and occupancy assurance are ok, but it is not advisable to surrender the policy you enjoy, since you loose the entire amount of Rs26,000/- which you might enjoy already compensated.
If you clear Rs.4514/- per annum for 25 years you can go and get Rs.15,00,000 risk cover beside LIC's Anmol Jeevan I (cheaper than HDFC SLI as per your statement)
invest in ELSS funds to avail excise benefit as capably as large returns.
I recommend SBI Magnum Tax Gain and HDFC Tax Saver
polite luck
pnkmurthy(a)YAH00.com
http://www.geocities.com/pnkmurthy/lic.h...