Thanks a lot for helping us in financial planning.
I read your LIC saral anand policy article in which u have given some figures and mentioned having investment in mutual funds and PPF and term, insurance having 50L rather investment 70k in LIC policy.But i read you article late.
I have one question:-
I purchased two policies :-
First policy :-
ICICI Pru life guaranteed saving insurance plan
Premium amount :- 35000 /- anually
Premium paying term :- 7 years
Policy term :- 15 years
Sum Assured :- 245000
Purchased :- Dec 2011
Second Policy :-
Birla sun Life Vision Plan
Premium amount :- 42000 /- annually
Premium paying term :- 27 years
Policy term :- Lifetime (2088)
Sum Assured :- 1134000
Purchased :- March 2012
Currently i have loan of 12 Lakhs with tenure of 25 years having an EMI :- 10500.My salary is 22K per month.
As u mentioned everyone should invest in Mutual fund and PPF as a long terms for high gain.
Have 3 questions :-
1. So please suggest me what should i do now ?
shall i surrender this 2 policies or not ?
Please suggest me what should i do now i am feeling i have wasted my money.
I like you long term investment trick :- Mutual Fund + PPF + Term Insurance.
2.If i need to purchase term insurance(should have best claim settlement ) which one should i buy ?
3. In April i am thinking to buy policy to protect my family in term of medical operation and surgeries and health illness which one policy should i buy?