POSTED BY March 19, 2013 1:09 pm COMMENTS (8)ON
I have read some articles on this forum and i am really impressed on the suggestions given by all. You people are doing a great job by educating new investor about the pros & cons on every investment.
I also need some valuable suggestion on this plan. I am planning to go for ing vysya New Fulfillng life, but before buying i wanted some advice.
my age is 29 yrs.
This policy has different premium paying term :16, 20, 24 yrs
I will be opting for 20 yrs. I m interested in this policy because, some amount is paid back during the premium paying term periodically and it have life cover & tax benefit. Below are the details
premium amt: Rs.2386
after 5yrs : i will receive Rs.70,000 (20% of sum assured)
after 10yrs : i will receive Rs.70,000 (20% of sum assured)
after 15yrs : i will receive Rs.70,000 (20% of sum assured)
after 20yrs : i will receive Rs.1,40,000 (40% of sum assured)
on maturity(i.e after 85 yrs of age): i will receive sum assured + bonus
Also the premium paying term will be of 20yrs, but the life cover will be there till 85 yrs.
I have already invested in some mutual funds, but due to the risk factor, i dont want to invest more in MF. Also this plan has life cover & tax benefit compared to mutual funds.
I dont want to go for term plan as it has no maturity benefits. Also, I already have a term plan attached with my home loan.
Please let me know your views on this plan.