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POSTED BY ON May 15, 2012 6:15 pm COMMENTS (4)
hi i m in dubai since 1997 i have two lic policy one is new jeevan shree & new beema kiran policy coverage of 10 lakhs each start to invest from 2003, another one i buy for my daughter metlife policy met magic in 2009 everyear i m paying rs.50000/=
now i am planning to buy one more new policy for my daughter she is 3.5 years old i am planning to buy jeevan tarang
please advise your valued comments
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Plan for your child cannot be different than what you do for your self or retirement.
Let us not be emotional. Logically and Practically its MF + Term Insurance is the best combination.
Most of the financial Plan revolve around these two terms. Stick to basics.
Dear Prakash, if you die tomorrow, what ‘ll your family do? How many days can your family survive from the money received from the 3 policies?
Please answer.
Thanks
Ashal
Hi Prakash,
If I was you, probably I won’t go for such policies. Have a term insurance on your life and invest on a monthly basis into a FD / SIP. Thats it. The returns in future may be much more than the policies you have entered into.
For example, another option is Invest into NRE FDs with 10 year interest payouts and invest these payouts into MF SIPs. This would act like a single premium investment plan 🙂
Are you happy with the expected returns on Jeevan Shree, New Beema Kiran and Met Magic policies? Do you think you will be able to meet future expenses with the returns from these plans?
Again, NRE FDs currently provide 9+% Tax free returns which will be more than that of any of the other plans. ANy reason you are not inclined with those?