I am thinking of investing in LIC'sUnit Linked Profit Plus Plan..is it suitable time to take this policy..?

Harsh Sharma,HCL - 2008-10-12 02:05:33 - Insurance

Also i m thinking to invest in other plan of LIC i.e. Money Back 20yrs plan-75..so pls tell me other good policies also..

Best Answer:

Profit plus plan has limited years of premium paying term i.e. 3/4/5. It depends on your risk apetite whether knowing the current scenario of stock market, is it a good enough time to invest. Please read through the charges of the plan from the LIC website. Money back of 20 years, is having the lowest rate of bonus. The reason is, it has the money back facility. As good as it is, the point is, why do you need money after every 5 years. I dont think that young people having 25 years of income and work life pending, need money from LIC after every 5 years. There are more than 50 policies from LIC. I can suggest you a lot in detail if we can talk. Bhushan Sheth MBA, MS (Insurance), AIII +91 9967280006 www.insuranceavenues.co.nr bhushansheth@gmail.com bhushansheth@hotmail.com

Answer:

If you are mumbai based mail me your date of birth and contact number to gadiyarsp@yahoo.co.in and i will mail you details.

You must think twice before investing in that ULIP policy now. if you are going for a single premium one time investment the initial charge is 5% then the monthly , yearly and insurance charges and service tax are there. After deducting these charges you may not get expected return from the investment. if you go for a regular premium payment and the term is five year or above then the charges are 24% for first year along with all other usual charges and 4% from second year onwards. Further the investment portfolio of all the existing schemes are predetermined. In the case of profit plus it is determined more than a year ago. the fate of shares of some companies are to be determined in the future. so make some short term investment now and wait. about other lic policies, they are not giving much bonus as they have done earlier still you can go for that. I advice only pure term life policy with no investment string attached to it. also try to get a quote from other companies too for a similar term and age and decide. any way insurance is a must so is investment. but do not tie them in the same cart.

Profit plus plan has limited years of premium paying term i.e. 3/4/5. It depends on your risk apetite whether knowing the current scenario of stock market, is it a good enough time to invest. Please read through the charges of the plan from the LIC website. Money back of 20 years, is having the lowest rate of bonus. The reason is, it has the money back facility. As good as it is, the point is, why do you need money after every 5 years. I dont think that young people having 25 years of income and work life pending, need money from LIC after every 5 years. There are more than 50 policies from LIC. I can suggest you a lot in detail if we can talk. Bhushan Sheth MBA, MS (Insurance), AIII +91 9967280006 www.insuranceavenues.co.nr bhushansheth@gmail.com bhushansheth@hotmail.com