September 25, 2010 3:49 pm
Please tell me , is it right product for retirement life ? or is it good to invest in it ?
Mixing insurance and investment is something we should totally avoid. When your insurance agent chase you, does he sell you insurance products? Or does he offer you investment opportunities and tax- saving schemes? In 99 of the 100 cases, agents don’t sell pure insurance. The insurance agents are driven by the first year commission that they get and they are hardly bothered whether or not it is really right for you or not. In fact, that is the reason, why most of the investors we meet, say that they don’t see their agents after first premium. They make heavy commission by selling the product. Now we don’t have to explain that the commission that they make is actually deducted out of your investment
Avoid all pension plans, their returns don’t even beat inflation. Instead take a term plan and start SIPs in Equity Diversified MF. You get good returns over a long period of time.
I have cancelled my pension plan and started this approach, already reaping benefits but long way to go.
I dont feel it is right , not becasue its from LIC , but because it a pension plan from a company , the return from any pension plan is very low and hence its not recommended , go for pure Equity funds through SIP route.
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