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Insurance surrender v/s paid up

Hi!

Recently joined this forum and think now that I was missing lot of information which is available on this forum.

Like most people I had never thought that probably term insurance would be better for a person.

I am currently paying around 1.0 L for LIC premium for a cover of what 5.0 Lac( Policies include wealth plus – 24 K…. Two Money back policy – 12 K premium …..Mkt Plus I – 36 K …….Jeeevan Saral….. 6K…..Jeevan Varsha…..16009)

 

Current status is

MKt Plus I – surrendered on 24th Dec 2012

Wealth Plus – opting for surender on Feb 2013

I need advice for my other three policies:-

a) Money Back :Policies – Shoudl i surrender them or make them paid up

b) Jeevan Varsha/Jeevan Saral – Shoudl i surrender them or make them paid up

 

I plan now after freeing up the money to take:-

 

a) Term insurance around 10 k

b) Health Insurance around 12 k

c) PPF -around 28 K/year

d) Gold ETF – 2500/month

e) Mutual Fund – 2500/month

Any other suggestion for tinkering my portfolio….

 

Looking forward to hearing asap on this.

 

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