Hi,
I am living in middle east for past 6 years. I am 33,married and have a 10 months old daughter. I earn 2 Lakhs per month and save approximately 1.5 Lakhs.
Being an NRE, I am struggling to find a Term plan. Also I am intrested in a child plan.
At present, my assets are a house in my hometown (22 Lakhs bought on 2008) which am letting it for rent @ 7000 rs pm.
Recently bought a flat in chennai for 53 lakhs and have almost paid 80% of the amount, balance shall be paid in the as and when the builder progresses to completion.
Apart from the above am investing in Gold (monthly Rs.3000) in a prominent jewellery from July 2012 for 12 months.
Also I have Jeevan Anand from LIC for 5 Lakhs cover for a period of 20 years.(i know this is too less) & my wife has the same policy for 2 lakhs.
LIC Market Plus & Wealth Plus – investing Rs 10,000 for the past 4 years.
Few FD’s worth : 2 Lakhs.
Also investing Rs 1000 each on HDFC top 200 & Reliance Equity – Dividend plan from Dec 2012. Though it is fetching a negative returns, planning to invest for another 5 to 10 years.
For Child :
I need 50 Lakhs for Education. 50 Lakhs for marriage.
Please let me know some non – market linked plans which gives return of 9 to 10% per year.
For myself:
Term plan: 1 Cr for till 75 years of my age. (Not sure if there is any for NRE ?)
Pension Plan : Need some suggestions on some non market linked plans.
Regards
Viswanath