LIC policy

POSTED BY Haneesh Natarajan ON December 28, 2011 2:45 pm COMMENTS (5)

hey guys,I am 23 yrs old and new to investments,etc. I need to know which is the best LIC policy for me? I will be able to pay a premium of upto Rs.30000/- The policy I am looking for should be a death cover + returns plan.

5 replies on this article “LIC policy”

  1. Dear Sanjay, For the person in question (his age is just 23) & for the plan (Aviva I-Life), the appox. Sum assured is 50L Rs.

    Thanks

    Ashal

  2. SANJAY KUMAR says:

    Dear Ashal

    How much is the sum assured you have considered for 5 k premium for 35 yrs?

    Regds

    Sanjay

  3. Dear Haneesh, please opt for I-life of Aviva as online term plan, one of the cheapest product. For your age & 35Y term the prem. ‘ll be around 5K Rs. For remaining 25K Rs. in your pocket you may start investing in PPF for your tax saving purpose within the limit of 1L Rs. of sec 80C.

    Thanks

    Ashal

  4. Haneesh Natarajan says:

    hey thanx Vignesh….so pls suggest me a gud Term Plan for insurance cover.

  5. VIGNESH BASKARAN says:

    Dear Haneesh Natarajan

    Generally Insurance and investment are different. We should not club both of this.

    Investment can be done in Mutual funds thru SIP, and in many other options like ppf , and Bank deposits.

    Insurance is needed whenever people around us are dependent on us.and we need to take only Term plan. we need to avoid money back , Endowment and other ULIP products.

    Reasons for asking you to avoid Traditional insurance plans(investment +insurance)

    As the returns offered by these are very low (5 to six percent annualised) and Insurance cover is also not enough(High insurance cover is possible only if we pay more premium, but in the term plan we will get higher insurance cover for lower premium) .

    As you have a yearly 30000 u can invest in mutual funds based on yur risk apettite.

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