The BIGGG Question may be useful for everyone

POSTED BY sainath ON February 13, 2012 12:32 am COMMENTS (7)

After all the research and surfing through various sites..bothering so many people ..I found this site will really help me.. I have read the posts by Ashish and the justgrowmoney which are quite helpful to understand something about finanacial planning.
I am in a fix to where to invest in for the followoing goals.
Please share your views.
1. Health insurance plan for family and parent – (Term 30 years).
I have several plans for different companies.
I had a doubt on this..which policy company is better LIC / HDFC / ICICI.
Because if claims get rejected…..there will be no use na .
So practically speaking which one is the good company with good claim ratio.
2. Term insurance plan for my self – Goal 35 years.
Same doubt here again? Which company and plan?.
3. Children needs – Goal 15 years.
Here I have several options. Equity based MFs of Mid cap funds..
I found HDFC Mid-Cap Opportunities Fund (G)
Is it right time to invest in this fund? and Will this fund continue till 15 years? (Big question a!)
are there any other funds to take on..
4. Home buying – Goal 5 years.
Definitely I will go for a loan for buying home. But for initial putting the money and to pre-closure the loan I need at least 5 lacs.
Which fund will give me good returns? or I can choose again the above one.
I have Axis Long Term Equity Fund (G) in my mind..
Will it yield 12-15% return in 5 yrs from now?.
Here comes my personal information.
Age – 31 years
Dependents: mom,wife,kid (1 year).
Sal- 38k take home.
Liabilities – PL of 1 lac (till 2 years).
Insurance till date – 2.5 lac SA only.
Chitfunds – 1 lac.
MF – I lost 10k when i invested in 2007. So am having misconceptions in these till last month!
So, please suggest me some good funds or any other ways to reach above goals.
The same question will come for almost anyone in life..
Thanks in advance.

7 replies on this article “The BIGGG Question may be useful for everyone”

  1. sainath says:


    As required I have given my personal info in the document.
    Coming to my requirement I need a medicliam /Health (or whatever you call )plan for my family. It should help me in medical emergences. Like cashless hospital treatment and reiumbursement, docmicillary treatment kind of things. (This mentioned as 2nd goal in the document)


    Mom- 57.
    Myself -31.
    Kid – 1 year.

    Please answer to other quireis also..

  2. Dear Sainath, Please answer here or in the other discussion for the health facility queries I asked from you? Then only I ‘ll be able to put any though for the health plan.



  3. sainath says:

    Hi ashal thanks for your reply..
    I will go with term plan only.

    Can u provide guidance on the other goals also..

  4. Dear Sainath, Thanks for the added info in that file.

    1. Term Plan, for your current age of 31, a term cover till age 60 is OK to me. If you feel that you may have some open financial liabilities till age 65 or 66, opt the 35Y term.

    Please opt any online term cover where you are comfortable at. These are cheap but provide the best of insurance – term insurance. If you are not comfortable with the idea of online term cover, please opt an offline one.

    Please update me & I’ll post more.



  5. sainath says:

    Hi Ashal

    I am having 4 goals as stated in my earlier post numbered 1,2,3,4.

    As the text got formatted, I think my query was not communicated properly.
    I have attached the doc file herewith.

    Please suggest me some good funds or any other ways to reach the goals.

    Thanks in advance..

  6. Dear Sainath, Please share more info about yourself to fix a term cover read sum assured for you.

    Your age, your current income, your family size, your no. of dependents, your loan liabilities……………



  7. Dear Sainath, I’m trying to answer your queries one by one. You are confusing the pure health insurance plans offered by general or health insurer with the investment linked health insurance plan offered by Life Insurers.

    In my view please go for plain vanilla health insurance plans from General Insurance or health insurance cos.



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