Hi Manish,

I have been investing in Tata AIA Life Invest Assure Flexi with monthly premium of Rs 4,600/- since October 2008 with term of 40 years to create a retirement corpus. I wanted to understand whether it is a good option for investment and should I continue with it.

Further, as a first step towards planning my financial life I wanted to understand few basics. I am 31 year old and I am salaried employee with monthly in hand income of Rs 65,000/-. I have a 5 year old school going child, a house wife and parents to support (also we plan to have a second child soon). A brief of my investments and obligations are as below:

1.       2 Home loans EMI Rs 19,300/- (with balance tenure of 19 years) and Rs 3,750/- (balance tenure 1 year)

2.       Monthly investments Rs 3,000/- in HDFC Sensex plus MF, Rs 1,000 in Reliance MF ELSS and Rs 4,600/- in Tata AIA ULIP

3.       Monthly expenses Rs 30,000/- approx. (including school fees, medicines,  etc)

4.       Very recently I have started investing the surplus balance in HDFC Short term opportunities debt fund.

Further I have taken online Term Insurance of Rs 1.1 Crore (from Aegon Religare and Aviva) and my company has provided a heath cover of Rs 7.5 lacs for me and my dependents.

Would you please guide me?