NRE Fixed deposit or ULIP plan – which is better investment for an NRI ?

POSTED BY praddy.ingle ON February 3, 2014 5:56 pm COMMENTS (5)

Dear Friends,

For a NRI which is a better investment? – NRE Fixed deposit OR one of the ULIP plan i.e ICICI Pru Wealth builder II (ULIP).( Especially if I need it for my 3yr old kid from his longterm point of view). I would really appreciate a good response as all the websites and the small prints of similar policies are a bit confusing.

5 replies on this article “NRE Fixed deposit or ULIP plan – which is better investment for an NRI ?”

  1. praddy.ingle says:

    OK, Thanks Ashal and Rokhan

  2. ashalanshu says:

    Dear Praddy, purchase term cover from your country of residence for yourself. For kid’s education needs invest in NRE FDs, Eq. MFs.

    Thanks

    Ashal

  3. Rokhan says:

    My 2 cents: For 12-15 year plan, do SIP instead of ULIP or FD. After 10 years, if the market is at a peak, you can move out all money into FD, or else do an STP to RD.

    Separately try to get a term insurance. (Try because being NRI myself I am facing difficulty getting term insurance done. Depends on your country of residence, might be easy for you / or a local term insurance might even be cheapper

  4. praddy.ingle says:

    Dear Ashal,
    I am planning to return back after 5 years. I need the money for my kid after approximately 12-15 years. Kindly suggest a suitable investment for me of the two options mentioned above or any thing that you think would be sensible.
    Many Thanks,
    Praddy

  5. ashalanshu says:

    Dear Praddy, do you have any plan to return to India in future? If yes, when ‘ll you return and what is the time, you need money for you kid?

    Thanks

    Ashal

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