Planning

POSTED BY jinesh shah ON April 1, 2013 1:54 pm COMMENTS (4)

Hi Need help on

I have ICICI Pru life time gold  and ICIC Pru life time super pension have invested 105000 in three years in 2008 and have stopped paying premiums post that.

I have following insurance

LIC Premium 45000 (mix of jeeven shree, Anand, and term life ) SA 3200000

NPS           36000 PA

should i Surrender ICICI pru life plans and reinvest it somewhere.

I also have good equityMFs

 

regards

4 replies on this article “Planning”

  1. Dear Jinesh, what’s your yly income, loan liability, family size, no. of dependents……?

    Thanks

    Ashal

  2. jinesh shah says:

    hi
    NPS is voluntary.
    what should be right amt for term insurance!!
    ULIP am getting 5/7% more than what i had put in. XIRR is 5% there may be 1% preclosure charge in one scheme.

    1. This will give you a rough estimate

      http://freefincal.wordpress.com/insurance-calculator-for-the-young/

      if you have children then use the comprehensive child planner there.

      For more complex needs like parent-dependents, special need dependents you can use the comprehensive insurance calculator

  3. first get yourself enough pure life term insurance.

    A ULIP will take seven years or so to just break even. Closing it before that as you have done might have resulted in a loss. The damage is done and the amt would have just earned 3.5-4% after you closed. So best to get out of it.

    List your goals and determine amt needed to be invested. See where your other policies fit in. if they don’t (which is the mostly the case) you should condiser making that paid-up.

    Is your NPS a voluntary account?

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