Hi friends
I have a peculiar doubt. In last 3 years, I have bought various life insurance policies as follows,
1. HDFC – Endowment policy – Premium is 12400 pa – term till 2020 – SA is 4L
2. LIC – ULIP (Profit Plus) – Premium is 12000 pa – term till 2014 – SA is 5L
3. LIC – Endowment policy – Premium is 11400 pa – term till 2014 – SA is 2L
4. LIC – Term Insurance – Premium is 18000 pa – term till 2041 – SA is 30L
5. Birla Sunlife – Dream Endowment Plan – Premium is 60000 pa – term till 2030 – SA is 14L
Now my question
a. Am I over insured?
b. In case of any unwanted events will I get insurance from all the companies?
c. How better can I restructure my insurance needs?
<<<Edited with more info dt:14/Feb/2011>>>
I’m 30 years old and single, working in a stable job and earning around 60k pm on hand. I have education loan for which I’m paying EMI of Rs.9000. I have bought shares in last 1 year and invested around 60K (value of the same now is 53K). I’m doing SIP in 5 MF schemes (4 are equity oriented and 1 is balanced), monthly outgo is 12K. Monthly expense is around 25K towards, rent, utilities and groceries. I do have a credit card, but pay all dues in time, so no balance as of now.
<<<Edited with more info dt:14/Feb/2011>>>
Thanks,
Rajesh Manoharan