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POSTED BY ON August 16, 2013 6:14 pm COMMENTS (6)
Hi Manish,
ICICI agents are behind me for making me invest in
ICICI Pru LifeStage Wealth II? Is this worth now.
I’m employed with pretty decent salary. I’m 45 years old, survived with my wife [home maker] and a daughter in 12 std.
They are suggesting for Rs. 50,000 yearly premium for 5 or 7 payment term 10 or 15 year lock-in period term for receiving the payment. If I invest, they will give me a locker in the bank, which I need it.
For now, i have enough cover on insurance, term plan, medical cover etc.
I know this is a ULIP and these are market driven NAVs. what is your opinion on this particular ULIP? Is it worth investing it either in my name or my wife? comments, please
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Dear Narasimha, please ask the Branch manager in written that to have a locker you w’d have to purchase a ULIP. Please do not purchase the policy. Check this. Print it out & carry with you while dealing with your branch manager,
http://rbi.org.in/scripts/NotificationUser.aspx?Id=3422&Mode=0
Thanks
Ashal
Dear Narasimha, Since you have adequate cover don’t waste your money to purchase useless products. If someone from ICICI forcing you then make a complaint against them and as far as locker is concerned as per RBI guideline bank can ask 3 years rental + locker breaking charged as the deposit for locker. If bank asking you to purchase any product for providing locker told them about the RBI guidelines and still they demand made a complaint to them.
Thanks to Ashal and Mohit for your response. I’ve dropped the idea of investing in those funds. In the given scenorio of the market, where would you advise me to invest this 50K? I don’t need this money for at least next 4 to 5 years. please advice.
You should invest when the market is down. you can consider Quantum Long Term Equity or Franklin India Bluechip or HDFC Top 200 but learn about the mutual fund before investing.
Thanks a lot. I’ve already invested in HDFC Top 200. What is your opinion on Nifty 50 Goldmann sach BeEes? is this the time to buy this ETF?
Need to check about Nifty 50 Goldmann sach BeEes…..I would suggest invest in 2 or 3 good mutual funds using SIP, don’t try to invest each and every fund since there is no end of it.