POSTED BY October 30, 2013 2:47 pm COMMENTS (3)ON
Hi Manish, I am now 39 year.Not marraid. Currently I have drawn salary 18000/month.
I have already invest-
(A) In mutual fund through SIP (rs 1000/month in HDFC Top200(G) and and rs 500/month in Reliance Gold saving.
i> On 2009,unfortunately I have taken two LIC’s Jeevan Saral Plan(mode of premium:half yearly, premium 6000/half year each, total premium:24000/year, Term: 15 year).I have given only 1 year(total 12000+12000=24000). There after I have not pay further premium. If I want to pay again, need above 36000 each for two policy. I am confused,whether <a>stop or<b>paid only 5 year or <c> continue these policy .Please advice.
ii>I have heard ‘On Long Term’, LIC’s ‘Jeevan Saral Plan’ will precise, will give approx 18 lakh in 31 year(if premium 500/month), also have precise life cover. So in this year, I have taken LIC’s Jeevan Saral Plan (two policy 6000/year, one for 25 year term and another for 31 year term, total premium 12000/year).
iii> One endowment policy of LIC (already paid 8 year,already paid 6 year,premium:- approx 1800/year only, term:-20year).
iv> LIC’s ‘Jeevan Mitra’ policy(already paid 7 year,premium:- approx 3217/year only, term:-17year,SA:50000)
(C)For retirement purpose-[I know these are very less amount for retirement purpose]
<a> LIC’s ‘Market Plus’ policy(already paid 6 year,premium:5000/year, Term: 20 year ).
<b>TaTa AIG’s ‘Mahalife Gold’ policy(already paid 4 year,premium:5019/year, Term:15 year,SA:54000)
(D)My further aim-[A] PPF minimum 4000/ monthly(or 48000/year at the Start in financial year). [B] NPS, for retirement purpose.
Mr Manish, please advice on my already invest and my aim. I really do not want to fall in pressure. Also advice about on NPS(National Pension Scheme for me) and more.
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3 replies on this article “Confused on my investments – please advice”
Dear Atanu, what was the logic in opting NPS?
Mr Ashish ,
I desire that,
1> Please read my first query precisely.There is my specific query. However I’ll ignore/stop LIC’s short term Jeevan Saral policy(mine,two policy premium: 2 x 12000/year, TERM:15 year). In fact I have paid only one year out of 3 1/2 year. So I have lost 24000.
1> I keep Long term LIC’s Jeevan Saral(two policy, each premium 6000/yearly and term are 25 year and 31 year respectively. Jeevan saral demand itself for much return than other(not as mutual fund)
cause:Long term and much return with life cover(in my case life cover is 70th age).
2> I’ll keep Tata Maha life gold, because it return time is at edge .
3. I’ll continue mutual fund(HDFC top 200 rs 1000/month and rs reliance Gold rs 500/month.
Please advice point wise ,if possible.
i>I have already paid 6 year on LIC’s ‘Market Plus’ policy(for pension purpose,premium:5000/year, Term: 20 year ). So I want to continue it. But confuse whether it is right or not.
ii>Endowment policy of LIC (already paid 8 year,already paid 6 year,premium:- approx 1800/year only, term:-20year). If I consider month basis its worth 150/month only.Hence confused.
iii> LIC’s ‘Jeevan Mitra’ policy(already paid 7 year,premium:- approx 3217/year only, term:-17year,SA:50000) .
If I consider it month basis its worth 200/month and its end at 10 year later. In future I can use its return to my premium of LIC’s Jeevan Saral policy. Because on that time there are no need to pay premium for TATA Mahalife gold .
Hence my confusion.
D. My further Aim-(please advise section wise)
i> PPF minimum 4000/ monthly(or 48000/year at the Start in financial year).
ii> NPS, for retirement purpose.
Please advise me query wise if possible.
I think you have confused yourself with insurance and investment. nearly 90% of your monies are put in Life Insurance and if you calculate, your total life cover may not be very big (i presume it to be about 8-10 lakhs, if all put together).
See if you can make some of the policies paid up and instead take a term plan (if you have people who are financially dependent on you now or in future – once you get married). If you do not have any person who is financially dependent on you (now or in future) then I personally feel you don’t even need life insurance).
In such case you need to concentrate on one single goal of retirement. Save for retirement and I think SIPs in 1-2 good MF scheme shall do it for you.