7 replies on this article “Life insurance”

1. Ahmed says:

   May 20, 2012 at 11:02 am

   Dear Ashal,
   Thanks for your kind suggestion.

   Ahmed

   Reply
2. ashal jauhari says:

   May 17, 2012 at 12:53 am

   Dear Ahmed, please answer following questions –

   your current age

   family size

   no. of dependents

   yly income

   loan liabilities

   other assets & investments

   total sum assured aka insurance in all these 23 policies

   when these policies were started……………….

   Thanks

   Ashal

   Reply
   1. Ahmed says:

      May 17, 2012 at 11:27 am

      Dear Ashal,
      Current Age:32

      Family Size:5

      No of Dependents: 5

      Yearly Income:1,25000

      Loan Liabilities: Nil

      Other assets :Nil

      Sum Assured in all these policies: 48,85000 (10lac for whole life + 38,85000 for endowment).

      All my policies where started on 15 jan 2010

      Currently i am working in Kuwait.So i don’t think i can remove Term insurance.

      Thanks for your help i really appreciate it.

      Reply
      1. ashal jauhari says:

         May 18, 2012 at 12:56 am

         Dear Ahmed, yly income only 1.25L?

         Please check & confirm.

         Thanks

         Ashal

         Reply
         1. Ahmed says:

            May 18, 2012 at 4:43 pm

            Dear Ashal,
            Sorry its 15lac, monthly 1.25lac. Sorry 4 the mistake.

            Thanks

            Reply
            1. ashal jauhari says:

               May 19, 2012 at 1:14 am

               Dear Ahmed, you are paying too much prem. In my opinion, whenever you visit next time in India, please purchase LIC’s Term cover Amulya Jeevan for 50L Rs. The prem. for 28Y policy, i.e. till your age 60, is 17900 Rs. only. It means you ‘ll have around 1.29L Rs. in your hand for investment purpose. As you are an NRI, the NRE FD ‘ll yield you a far better return than these LIC policies can provide combined.

               Thanks

               Ashal

               Reply
3. wealthucreate says:

   May 16, 2012 at 11:03 pm

   1.47 lakh premium for Insurance? Friend, honestly i re-read your premium figures.

   Here is what i would have done. Visit the LIC office, ask how much would you get back if you surrender the policies. Before surrendering these polices go for pure term plan.

   Invest 1.25 Lakh per year i good mutual funds for next 10 years via SIP, there is good amount of chances you would make decent money.

   The surrendered money, can be invested as per your risk apetite.

   Reply

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