i want to open a policy contained by LIC. but my agent show me so many policies. n i m so much confused roughly speaking what shud i go for. so plz hand over me some idea so that it will beneficial for me.
Answers: Please consider taking Term Assurance Plan of atleast Rs. 25 Lacs. You will draw from it very cheap. below 10000 p.a.
Rest of your monthly money pl invest in Mutual Funds via the SIP route.
For more info u may write to me at gadiyarsp(a)yahoo.co.surrounded by
There are two kinds of plans deeply. One is Unit Linked Insurance policies and the other is the conventional plans like the endowment, money wager on, jeevan anand, jeevan tarang etc. Also you now enjoy pure term assurance and also residence assurance with money wager on.
the plus with the residence insurance is that you get dignified coverage for a paltry sum of premium. the down side is that if you do not pay the premium within time the policy lapses.
later you have to revive the policies by undergo the medical test etc. There is not much grace interval to boast with.
in opposition if you take a policies resembling endowment, money back, jeevan anand, jeevan tarang etc within is a good amount of grace spell. SO IN THE EVENT OF YOUR NOT KEEPING UP WITH THE PREMIUM DUE DATE PROPERLY ALSO YOU WILL BE GETTING SOMETHING, MOST OF THE TIME.
the experience all over the world is that 50% of the pure residence assurance policies all over the world is underneath lapse condition at any point of time.
Therefore only if you are sure just about your financial discipline should you go for the occupancy insurance policies.
if not choose between the traditional policies resembling endowment, money back, jeevan anand, jeevan tarang etc.
and the component linked policies.
the part linked policies invest money surrounded by the stock market and the returns are dependant on the vagaries of the stock marketplace.
the traditional policies are invested in the bonds and debentures to a larger extent and for this reason their returns will be little less.
among the traditional policies the return between the endowment, money backbone, jeevan policies will be almost equal.
so whichever policy you take the returns will be almost same and at hand is no chance that you will be lead astray by your advisor from LIC.
SO GO AHEAD.
Hi, first try to find out if you need insurance or investment? If you are singular interested investment then my suggestion would be to jump for a well diversified equity mutual funds near a long term perspective. Though mutual funds get an element of risk, contained by longer term right to be heard above 10 years, it will give you virtuous returns. If your requirement is insurance as well as investment later you can go for component linked insurance plan. Be sure to read adjectives the terms and conditions formerly investing in ULIPs.
http://www.investorcamp.blogspot.com lic of india is introduce lot of policies.But any time ,any ethnic group suitable the only one policy is endowment policy.so u chose endowment policy.
Go contained by for Jeevan Anand or Jeevan Tarang both whole vivacity policies which cover your entire life.
apposite luck
pnkmurthy(a)yahoo.com
http://www.geocities.com/pnkmurthy/lic.h...
This link may relief.. I have a slightly different display on Insurance. Why is Insurance required? So that your dependents can continue to wallow in the same lifestyle surrounded by your absence. I own a family to support, next to 2 young children. If I am no more, I would want the home to get an insurance amount that allows them to verbs the same height of lifestyle for atleast next 10 yrs. If my wife is also working, I would dream up my insurance needs would acquire reduced by the same proportion of our individual incomes. If I already own a house, fully paid for, and a motor fully paid for, later I would think Insurance requirements can come down by another 50%, cos afterwards only day-today living expenses are really needed! Think in the order of that!
So first assess your situation clearly. You are a working girl, anyone dependent on you now? Maybe you minister to out your parents every month, say conceivably Rs.10,000 monthly you send home. Calculate 10000 x12 months x10 yrs =12 lakhs. Thats the Insurance that may be adjectives for your parents, if God forbid, you are no more! They can set up a senior citizen account (a)10% interest and verbs to get duplicate monthly amount!
Having said that, the best Insurance plan is a Term Assurance plan. Visit LIC premium Calculator, Select Anmol Jeevan, under Term Assurance Plan http://www.licindia.com/premium_calculat...
For someone 27 yr ancient, a 12 lakh Insurance Term plan for 10 yrs costs just Rs. 2790, annually. This is a fraction (mosttimes as little as 1/10th) of what other moneyback, endowment and unbroken life policies for matching amount will cost you. Why? because those are sold under the pretext of also giving you some investment returns. By the agency, I am sure yr agent would have told you of so abundant options but he would hold omitted to tell you of the Term Plan option. do ask him, why?? Cos' the commission is very smaller number. A Term Plan is pure insurance, if you cop it your dependents get the money. If you don't, the money go down the drain, just resembling your car insurance!
Thats the best mode to do insurance. Insurance and Investments should never be mixed, so say the Gurus! Read these articles to apprehend, why?
Investments? Insurance? Or both?
http://www.personalfn.com/detail.asp?dat...
Insurance vs Mutual Funds
http://www.valueresearchonline.com/story...
And then you will know that the 9/10ths of premium (that you would enjoy otherwise spent on an endowment or Moneyback policy) can be best put to use elsewhere. Even a solidly safe, not anything risk investment in Public Provident Fund (PPF, you can unequivocal in any SBI branch) would compound your money at a guaranteed 8% much more than what these policies would own returned. Ask your LIC agent to match the 8% compounding returns of PPF and yr LIC agent will run away:-)
Learn the power of compounding and how best to formulate your money work best for you from this excellent article. There is nothing approaching starting early surrounded by your investing life!
Power of Compounding
http://www.valueresearchonline.com/story...
And in attendance are other very past the worst instruments like 5-star reputed Mutual funds approaching HDFC Prudence which will compound yr money at 15% annually! read this review at
HDFC Prudence Fund Analysis
http://www.valueresearchonline.com/funds...
So don't waste your time (and money) on any Insurance policy excluding a Term Assurance Plan.
Cheers! Feel free to ask follow up questions if this be too much to digest for you at one shot! Good Luck! Become a more informed investor!
Resolved Questions:
Accurint??
Life Insurance 4 Years After Divorce?
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Can u apply for your Social Insurance Number online?
Do you necessitate your series 7 to be an underwriter?? and if so how sturdy is it to become an underwritter as ably as
Answers: Please consider taking Term Assurance Plan of atleast Rs. 25 Lacs. You will draw from it very cheap. below 10000 p.a.
Rest of your monthly money pl invest in Mutual Funds via the SIP route.
For more info u may write to me at gadiyarsp(a)yahoo.co.surrounded by
There are two kinds of plans deeply. One is Unit Linked Insurance policies and the other is the conventional plans like the endowment, money wager on, jeevan anand, jeevan tarang etc. Also you now enjoy pure term assurance and also residence assurance with money wager on.
the plus with the residence insurance is that you get dignified coverage for a paltry sum of premium. the down side is that if you do not pay the premium within time the policy lapses.
later you have to revive the policies by undergo the medical test etc. There is not much grace interval to boast with.
in opposition if you take a policies resembling endowment, money back, jeevan anand, jeevan tarang etc within is a good amount of grace spell. SO IN THE EVENT OF YOUR NOT KEEPING UP WITH THE PREMIUM DUE DATE PROPERLY ALSO YOU WILL BE GETTING SOMETHING, MOST OF THE TIME.
the experience all over the world is that 50% of the pure residence assurance policies all over the world is underneath lapse condition at any point of time.
Therefore only if you are sure just about your financial discipline should you go for the occupancy insurance policies.
if not choose between the traditional policies resembling endowment, money back, jeevan anand, jeevan tarang etc.
and the component linked policies.
the part linked policies invest money surrounded by the stock market and the returns are dependant on the vagaries of the stock marketplace.
the traditional policies are invested in the bonds and debentures to a larger extent and for this reason their returns will be little less.
among the traditional policies the return between the endowment, money backbone, jeevan policies will be almost equal.
so whichever policy you take the returns will be almost same and at hand is no chance that you will be lead astray by your advisor from LIC.
SO GO AHEAD.
What constitutes a "pre existing condition" within regard to strength insurance?
Hi, first try to find out if you need insurance or investment? If you are singular interested investment then my suggestion would be to jump for a well diversified equity mutual funds near a long term perspective. Though mutual funds get an element of risk, contained by longer term right to be heard above 10 years, it will give you virtuous returns. If your requirement is insurance as well as investment later you can go for component linked insurance plan. Be sure to read adjectives the terms and conditions formerly investing in ULIPs.
http://www.investorcamp.blogspot.com lic of india is introduce lot of policies.But any time ,any ethnic group suitable the only one policy is endowment policy.so u chose endowment policy.
Go contained by for Jeevan Anand or Jeevan Tarang both whole vivacity policies which cover your entire life.
apposite luck
pnkmurthy(a)yahoo.com
http://www.geocities.com/pnkmurthy/lic.h...
This link may relief.. I have a slightly different display on Insurance. Why is Insurance required? So that your dependents can continue to wallow in the same lifestyle surrounded by your absence. I own a family to support, next to 2 young children. If I am no more, I would want the home to get an insurance amount that allows them to verbs the same height of lifestyle for atleast next 10 yrs. If my wife is also working, I would dream up my insurance needs would acquire reduced by the same proportion of our individual incomes. If I already own a house, fully paid for, and a motor fully paid for, later I would think Insurance requirements can come down by another 50%, cos afterwards only day-today living expenses are really needed! Think in the order of that!
So first assess your situation clearly. You are a working girl, anyone dependent on you now? Maybe you minister to out your parents every month, say conceivably Rs.10,000 monthly you send home. Calculate 10000 x12 months x10 yrs =12 lakhs. Thats the Insurance that may be adjectives for your parents, if God forbid, you are no more! They can set up a senior citizen account (a)10% interest and verbs to get duplicate monthly amount!
Having said that, the best Insurance plan is a Term Assurance plan. Visit LIC premium Calculator, Select Anmol Jeevan, under Term Assurance Plan http://www.licindia.com/premium_calculat...
For someone 27 yr ancient, a 12 lakh Insurance Term plan for 10 yrs costs just Rs. 2790, annually. This is a fraction (mosttimes as little as 1/10th) of what other moneyback, endowment and unbroken life policies for matching amount will cost you. Why? because those are sold under the pretext of also giving you some investment returns. By the agency, I am sure yr agent would have told you of so abundant options but he would hold omitted to tell you of the Term Plan option. do ask him, why?? Cos' the commission is very smaller number. A Term Plan is pure insurance, if you cop it your dependents get the money. If you don't, the money go down the drain, just resembling your car insurance!
Thats the best mode to do insurance. Insurance and Investments should never be mixed, so say the Gurus! Read these articles to apprehend, why?
Investments? Insurance? Or both?
http://www.personalfn.com/detail.asp?dat...
Insurance vs Mutual Funds
http://www.valueresearchonline.com/story...
And then you will know that the 9/10ths of premium (that you would enjoy otherwise spent on an endowment or Moneyback policy) can be best put to use elsewhere. Even a solidly safe, not anything risk investment in Public Provident Fund (PPF, you can unequivocal in any SBI branch) would compound your money at a guaranteed 8% much more than what these policies would own returned. Ask your LIC agent to match the 8% compounding returns of PPF and yr LIC agent will run away:-)
Learn the power of compounding and how best to formulate your money work best for you from this excellent article. There is nothing approaching starting early surrounded by your investing life!
Power of Compounding
http://www.valueresearchonline.com/story...
And in attendance are other very past the worst instruments like 5-star reputed Mutual funds approaching HDFC Prudence which will compound yr money at 15% annually! read this review at
HDFC Prudence Fund Analysis
http://www.valueresearchonline.com/funds...
So don't waste your time (and money) on any Insurance policy excluding a Term Assurance Plan.
Cheers! Feel free to ask follow up questions if this be too much to digest for you at one shot! Good Luck! Become a more informed investor!
Resolved Questions: