Professional Answers on Investments
Insurance, Mutual Funds, Sensex, Nifty, Financial Planning
Do not combine investments and insurance. If your purpose is insurance, go for term insurance. Companies like ICICI Prudential, Aegon Religare have come up with online insurance plans which otherwise is not available via agents. The premium of these policies are very low.
Regarding investments, I suggest you to go for equity diversified mutual funds. The following link will help you.
Term Plan is a Pure Protection Plan with only Death Benefit and no Maturity Benefit.
Aegon Religare iTerm Plan- It is the CHEAPEST term plan in the industry, Which can be purchased online without any agent intervention and has simple documentation with high non-medical limit. It is cheap as it is purely an online policy where no commission needs to be paid out to agents for sourcing the same.
LIC Anmol Jeevan plan and Amulya Jeevan plans are good plans but it is more expensive than iTerm plan of AEGON Religare.
Also, there is no requirement to be worried about private insurance companies.
According to Section 64VA of Insurance Act 1938 there is a solvency margin of Rs 150 crores that needs to be submitted to the RBI under IRDA, the Insurance Regulatory and Development Authority, as safety deposit money which is kept for repayment to customers in case the company declares bankruptcy.
Also, each Insurance company is attached with a Re-Insurance company who takes up the liability of repayment to customers in case of a claim if the Insurer is unable to pay.
Considering the above 2 factors, you can completely trust all private insurers in India who are under a strict regulation of the IRDA. Hence purchasing any policy from any of the private insurers do not involve in any risks.
everyone has got itw own virtues and vices it is all mixed. particularly in service it my be excellant today but within few months it may become worst because individuals do it and they get transferred frequently
PLEASE dont fall pray to any money-back, retirement / endowment plan.
Go for pure term insurance plan.
Adv – Very low yearly premium
You can invest the rest of money either in PPF / MFs / Share-Market
Visit aegon religare website and have a look at their online policy , increasing cover policy , critical illness riders. You can calculate the premium yourself. Go for a PURE TERM COVER with no maturity value.
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