The author at the first stage is presenting his idea saying the for a 30 yrs male he needs the life insurance only for 10 yrs, where as the fact is that the need of life insurance may only increase by age because his responsibilities and life style would only increase and not decrease. Lets take a different view of assest allocation the basis of Financial Planning acknowledged all over the world, where it is advised to invest a part of investment in debt and secured plans. Thus taking a broad view let your insurance investment be that of secured investment and over and above invest in equity fund. Secondly as the rule of insurance the longer the term the lesser the premium and higher the return and risk cover. Thus if say a 30 yrs male opting for a 25yrs risk cover for 10lacs(increasing to 42lakhs till maturity) then the premium will only be 47,040 & maturity amount will be 37Lacs Jeevan Saral Plan from LIC Of India. Moreover consider the temptation to withdraw from mutual funds as they have liquidity would only make it a tough situation for an investor. I request the author to kindly be careful while writing articles, just dont write to fill up sites and attract reader
Re: Check The Basis Of Comparision
by kishore nv on Dec 18, 2014 02:47 AM
Hi Manish, I agree with you that author's computation is totally wrong. But i agree with author that term insurance plus outside investment is better than investment insurance.
If i opt for a LIC insurance policies along with 2 other policies Dat means ..if i take a combination plan of 3 policies at a time 1: Jeevan anad for 20 yrs Sum : 6 lack 2: New Beema Gold for 20 yrs Sum : 10 lack 3: jeevan Tarang for 20 yrs sum :6 lack
Then as per the calcutaion the premium shoots upto 65k p.a
So is it worth in taking those? And the returns are from 4th ,8th,12th, 15th ,18th yrs from the start date and its near 60k. The maturity ammount is different alltogether .
So can you please guide me in this ..wether i shall Go for it ..or Not ?
RE:Need advice from you about LIC life insurence
by Diwakar Desai on Jan 12, 2007 07:29 PM
Information provided is insufficient. Without knowing the purpose of buying insurance, age, income, assets and liabilities and many other financial matters no one can and should assess the need and type of insurance to be bought.
RE:Need advice from you about LIC life insurence
by Roh P on Feb 22, 2007 12:26 PM
You have opted for wrong policy. suggest not to go for this type of policy. Much better policy can be desinged , which can cost you less, but give you higher return as well as coverage. For more discussion you can email me on rohpise@yahoo.co.in
The author is Either a Mutual Fund Advisor who does Not Belive In Life Insurance Products or some one has cheted him In A Life Insurance Plan thats the reason he is giving such statements and Comparisions .There is no comparision Of a Life Insurance Plan as it is Worth a Million Dollar and in India after Entry of Private sector is when people started to know about Insurance and Getting Adequatly Insured One seld against Any Death ,Deaseses or Disability .All Investments are Good depending upon Individual Risk appetite and One must Not Put all eggs in On Basket but allocate it in Diffrent Investment and Avenues Of Investment. A Human Life Valuation Before Buying a Insurance Plan is Important Befor Giving a Jugement Of The Industry .
Re: True
by kishore nv on Dec 18, 2014 02:57 AM
Hi Kaushik, whatever may be the case, investment insurance is waste. You quote me any investment insurance policy, i will quote you a better investment though combination of term policy and investment. Now a days, insurance companies (including LIC) marketing their policies by saying "returns upto". It is not a discount on product where you use term upto, it is insurance policy and they should mind it. Yes, i am against the insurance policies as their ROI is relatively less. Thats the reason i have not take single investment insurance policy so far
First of all INSURANCE is not a betting. (Go back to basics)
And
I think if you are going for term insurance plan where the premium is less than Along with this you should invest in good Mutual fund(ELSS) This will not only give u good return aft the end of tenure especially if u are going for more than 3 yrs but it will also give u a tax benefit too.
