Should I take SBI e-shield and stop my LIC policies ?

POSTED BY angu012d ON December 23, 2013 6:23 pm ONE COMMENT

Sir, I am working in a GOVT ORGANIZATION at a salary of 40500 pm. I invest as follow EPF-16000, LIC JEEVAN SARAL-24000 PY, TERM PLAN INSURANCE( FOR 3000000)-900PM, SIP IN MUTUAL FUND-(HDFC CHILD FUND 1000, REL BANK FUND-1500, IDFC PREMIER-2000, SBI EMERGING BUSINESS-1100, REL GOLD FUND -500). Income tax cutting is 22000 approx P/Y. now what I should do? Is my investment good?

I am 41 years old . I have to construct house in 5to 6 yrs, 02 child of age 14&16 yrs at now. saving I have 1400000.I AM INVESTING 16000 IN PF DUE LOW RISK APPETITE.

WHAT ABOUT BOTH LIC POLICY. I HAVE GROUP INSURANCE OF 3500000 FRON MY ORAGANISATION(CUTTING IS 1700 P/M). I AM THINKING TO STOP BOTH LIC ( 4 YRS OLD POLICY) & TAKE SBI eSHIELD AT 18 RS DAILY POLICY. IS IT REALLY GOOD. IS ANY OPTION TO SAVE INCOME TAX? HOW(* LIKE HOUSE LOAN etc)

One reply on this article “Should I take SBI e-shield and stop my LIC policies ?”

  1. ashalanshu says:

    Dear Angu, if your basic 1L Rs. section 80C limit has been exhaust, how can you save more apart from health insurance prem. in 80D? Why did you purchase those pol;icies in the first place? Looking into your details, you need a large Term cover.

    Thanks

    Ashal

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