October 11, 2010 8:38 pm
I’m trying to re-categories my spending. But confused whether should consider Insurance as Savings or Expenses. I have Term Plan, ULIP & Endowment plans. Any comments?
1.term insurance is absolutely an expense- neccessary expense.2. for ulip, the premium part ,which is getting invested in debt or equity units, is investment and rest is expense. 3.for endowment, the yearly equated a/m. derived by discounting the total a/m. expected to be received on outliving the policy period by discounting at safe rate of interest can be taken as yearly investment.
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