Seeking advice for my current ULIP investment.?



Hello,

I am Ritesh from New Delhi, n i have 4 ULIP plans, details are

ICICI PruLife Life TimeStart date -20-01-2006Premium – Rs 18000/- YearlyCover – Rs 140000/-

ICICI PruLife Life Time SuperStart date- 23-10-2006Premium -Rs 9000/- Half YearlyCover – Rs 800000/-

ICICI PruLife Smart KidStart date 24-12-2007Premium Rs 20000/- YearlyCover- Rs 250000/-

LIC Profit PlusStart date 24-12-2007Premium Rs 10000/- YearlyCover – Rs 100000/-

The Total Premium paying for ULIP is Rs 66000/- and total Sum Assured is 1290000/-
Now please provide me the correct Guide Line about the future planning as well as Save Tax, My total income is around 550000/- per anum.

Thanks
Ritesh Kumar

One Reply to “Seeking advice for my current ULIP investment.?”

  1. Considering your income tax liablity you must avail deduction available under section 80 C ( Maximum investment Rs 100000.00), 80 D (Maximum investment Rs 15000.00) and 80 CCF (Maximum investment Rs 20000.00).

    Since you have invested only Rs 66000.00 under section 80 C, you have to further invest in section 80 C investment to the extent of (100000.00-66000.00= 34000.00)
    Since yoy have not invested under section 80D and 80CCF then invest under these section also for full tax saving.





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