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POSTED BY ON April 21, 2013 10:05 pm COMMENTS (11)
Hi,
This is Srinivas. I am 41 yers old, married and have 6 year old kid. I am covered individually for 1 lac by employer and do not have health insurance or term insurance. Please find below my investments and help me re-organizing my investments. Let me know in case I need to furnish any details. Many many thanks in advance.
LIC:
| Plan Name: | DateOFCommencement | PremiumAmount | SumAssured | PolicyTerm |
| Jeevan Sanchay – 20 Yrs (T.No.125) | 15-02-2002 | 12,505.00 (Yearly) | 1,75,000.00 | 20 years |
| Jeevan Sanchay – 20 Yrs (T.No.125) | 28-01-2002 | 7,146.00 (Yearly) | 1,00,000.00 | 20 years |
| Jeevan Saral(T.No.165) | 22-01-2010 | 2,042.00 (Monhly) | 5,00,000.00 | 21 years |
| Jeevan Saral(T.No.165) | 27-09-2010 | 24,016.00 (Yearly) | 5,00,000.00 | 15 years |
ICICI Prulife:
| Plan Name: | Issue Date | Term | PremiumAmount | FreqPay | SumAssured | Status |
| Life Stage Assure Pension | 14-07-2009 | 20 years | Rs 25,000.00 | Annual | NA | In Force |
| LifeTime Pension | 14-01-2004 | 18 years | Rs 834.00 | Monthly | Rs 100,000.00 | In Force |
| LifeTime | 21-06-2006 | Till 18-12-2070 | Rs 20,000.00 | Annual | Rs 400,000.00 | Premium Holiday |
| LifeStage RP | 12-02-2008 | 15 years | Rs 10,000.00 | Half Yearly | Rs 1,000,000.00 | In Force |
Mutual Funds:
| Type | Name: | Monthly/OneTime | Amount/month | SumAssured | Status |
| MF-Contra Fund | SBI MSFU CONTRA-Reg PLAN -Gr | Monthly | 1000 | NA | Active |
| MF-Diversified Fund | HDFC Top 200 Fund – Gr | Monthly | 1000 | NA | Active |
| Franklin India Bluechip Fund-Gr | Monthly | 1000 | NA | Active | |
| Reliance Reg Savings Fund-EQUITY OPTION-Gr | Monthly | 1000 | NA | Stoped | |
| Reliance Reg Savings Fund-EQUITY OPTION-Gr | Monthly | 1000 | NA | Active | |
| UTI – Wealth Builder Fund – Sr II – Gr | Monthly | 1000 | NA | Active | |
| Morgan Stanley A.C.E. Fund- Gr | OneTime | 15000/- | NA | Active | |
| MF-Thematic Fund | Reliance Diversified Power Sector Fund-Gr-Gr | Monthly | 2000 | NA | Stoped |
| Reliance Diversified Power Sector Fund-Gr-Gr | Monthly | 1000 | NA | Active | |
| Reliance Natural Resources Fund-Gr Plan-Gr | OneTime | 1,000,00.00 | NA | Active | |
| Reliance Natural Resources Fund-Gr Plan-Gr | OneTime | 20,000.00 | NA | Active | |
| MF-Balanced Fund | HDFC Prudence Fund – Gr | Monthly | 1000 | NA | Active |
2 PF accounts:
1. In my name [In Post Office]. 11 years completed but invested very less amount
2. In My wife’s name. [In SBI]. Started couple of years back.
Please help me in:
1. Removing the un-necessary one
2. Adding new ones
3. Helping in make it a well balanced portfolio.
Thanks in advance.
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you may ping me at praskmr@gmail.com if you are in Bangalore. Can help you rearrange and suggest on your present investments
Dear Srinivas, please feel free to discuss as & when you feel so. First invest your time here & I promise, you ‘ll surely got a better know how for your own situation.
thanks
Ashal
Hi Ashal,
Thanks for valuable advise. I will come back again after spending some time here and take one step at a time to organize my financial life better. Thanks again for your valuable time.
Srinivas N
Dear Srinivas, what’s your take on dear Pattu’s suggestion of hiring a paid Financial planner for yourself? Why I’m asking? You put a lot of info from which, a lot of cross suggestions may come to you. How ‘ll you decide to move on? Regarding the taking help from Jagoinvestors, well my dear friend, just by reading past discussions, you could help yourself.
Please think over it.
Thanks
Ashal
Hi Ashal,
Taking paid financial planner is not a bad idea, but definitely prior to that as suggested I will spend some time reading past discussions to see how much I can help myself. I will come up with with a list and you may extend your expert advise on that. Thank you very much for giving your valuable time.
Srinivas N
1, Make old policies paidup, new ones surrender, all ULIP surrender
2. Ok
3. Why do u need term plan for ur wife?
4.ok
5. Don’t invest in HDFC Prudence……First two funds will serve the purpose…..
Hi Gotu,
Thanks for your valuable suggestions.
Srinivas N
Hi Indrajit,
Thanks for your response and suggestions. Based on your recommendations. please suggest if following steps will help.
1. Stop all LICs and Ulips
2. Quit unwanted MFs
3. Take term plan of 50L each for me and wife from Aegon Religer iTerm plans
4. Continue with only Franklin Bluechip & Hdfc Top 200 and Hdfc Prudence balance fund with 3000 pm instead of 1000 pm.
Thanks for giving your valuable time.
Srinivas N
Hi,
Thanks for the quick response. I will definitely keep in touch with our own financial planners i.e JagoInvestors. Thanks again for giving your valuable time.
Srinivas N
As soon as possible stop those LIC n Ulip.
Purchase a Term Plan of 1 crore for Both of you. And purchase adequate health insurance for your family.
For MF investment you have made too much funds. Only two or three funds can serve your purpose.
Franklin Bluechip & Hdfc Top 200 alone are quite good.
Third you can add Hdfc Prudence as a balance fund.
Cut down your investment to this. Quit all the thematic and sectoral and all other funds.
.
Dear Srinivas,
Your investments are in a mess. At 41 year you need professional help in tidying up your investments. Please consult a financial planner instead of seeking arbitrary generic advice in forums like this. A good financial planner will cost you only Rs. 15000. It is not much considering the premiums you are paying. A comprehensive financial plan will help you take control of your life. At you age you dont have time to make more mistake. Quick professional remedial action is needed.
ps. As you yourself have noted term insurance health insurance a healthy emergency fund is very important before touching the above.