POSTED BY December 13, 2012 1:37 pm COMMENTS (4)ON
Can you please guide on the HDFC Classic Assured plan.
I am being shown a propsal for the same, which they claim has a small component of Insurance, which i believe works out to about 5%.
All thanks to this forum, i bought Manish’s book and learning to segregate insurance and investment.
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4 replies on this article “HDFC Classic Assured Plan”
Premium Rs 50,514 ( premium Rs49,000 + taxes 1514)
Premium paying years – 7 years
Policy Term – 10 years
Sum Assured – Rs 324, 102
Non guarranteed benefit at 6% – Rs 92,181
Non Gurranteed benefit 10% – Rs 200,946
Death benefit – 324,102
as i write this, i realise that returns are not at all guarranteed 🙁
Try and use the compound return calculators and put those numbers there, 49k, 7 years investments, 10 years total time.
Then you can see, how much they will give you returns.
Even debt instruments will generate better returns than that.
Plus as you rightly pointed out, non-guaranteed. No flexibility. No liquidity (you cannot get back that money without incurring severe losses).
So, complete your reading of the book, and then plan with initial small and basic steps.
Put up an outline of the proposal here, so that we can point out the which claims in that are real and which others are conditional. That will help you in analysing this policy as well as others, which you will see in future.