ulip policy advice needed?



Sir,

I want to invest in ULIP policy.
looking out for 20 year term with annual 25000 premium.

Please suggest me the best out of these or ANY other your recomendation

1) Max new york life insurance
Shiksha Plus 2
2) HDFC young star Progroth 2
3) ICICI prue life time primier
4) TATA AIG liife insurance
Flexi supreme
5) KOTAK
Wealth insurance plan

Please suggest the best interms of A) FUND PERFORMANCE and then B) charges.

awaiting your reply.

Regards

Bhavesh

ulip policy advice needed?
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4 Replies to “ulip policy advice needed?”

  1. DON’T DO THIS. This is not good investment for you. Good for the salesman! You will have no value left when it’s time to retire.
    Buy term–invest the difference. $ 25,000/year premium is a tremendous amount to spend on insurance.
    Are you elderly? Do you need this to cover estate taxes? (no estate taxes in 2010).

    Look at these contracts very carefully! They are a rip off. An annuity would be a better investment. Or buy term, invest the difference.

    You will have no savings the first 3-4 years! They pay low interest! If you need your money, you have to borrow it, and pay high interest! It’s your money!
    Buy term, invest the difference!
    Oh–and buy term, invest the difference!


  2. ULIP’s are not an good option for investments. There are lots of charges in this and the returns are also not as good as you will get from investing in Mutual Funds.

    If you are looking for an Insurance then go for Endowment policies from LIC.

    And if you are looking for investments, then Systematic Investment Planning (SIP) in Mutual Fund will be the best option.

    To get your own personalised portfolio, you can reach me at [email protected]


  3. ULIPs should be taken for the sake of INSURANCE , not for the sake of INVESTMENT.

    Ideally , go for PURE TERM COVER. They are much cheaper. ULIPs lack transparency & liquidity.

    The premium saved can be invested in a combination of PPF / SIP IN MUTUAL FUNDS / DIRECT EQUITY .

    Keep INSURANCE & INVESTMENT separate.

    Visit Aegon Religare website and calculate the premium yourself. Their online policy is the cheapest.
    Have a look at their increasing cover policy & critical illness riders.


  4. As per the new guidelines of IRDA for ULIPs, the product is undergoing a major change.

    Previously the SA for ULIPs was 5 times the premium. This will now change to 20 times. i.e. for a premium of Rs 25,000 your SA will be Rs 5,00,000 instead of Rs 1,25,000. This will increase the mortality charge. Consequently your investment amount will decrease.

    Always buy a pure Term Plan for insurance. Invest your money in MFs thru SIP.

    HMT





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