Where should i invest/ plan next? Also whether i had invested rightly? If not, how to correct it?

I am a 30 Yrs age married buisinessman with male one child 4 months old and wife and my monthly income is Rs. 40000/-[Rs. 480000/- per year]. I am only son of my parants, beside my two married sisters.
I had invested in the following:
1. LIC money back plan Jeevan Surabhi-20 prem 4332/- PA yrs start 1997 to be matured on 2017
2. LIC ASHADEEP-II prem 11762/- PA start 2004 to be matured on 2029
3. LIC money plus prem 15000/- PA start 2007 to be matured on 2026
4. LIC Health Plus with profit prem 10000/- PA start 2008 to be matured on 2045
5. Bajaj Allianz UTI Individual Health 114 per month [Mediclaim policy max 200000/-]
6. Bajaj Allianz UTI Safeguard[Accidiental Death, permanent disability]
7. Accidental Insurance from AXIS Bank of Rs. 500000/-
8. I own a i-10 car and paying a premium of Rs. 8000/- pm
9. We live in a joint family in our family inherited house in city.
10. My average routine expence is 20000/- pm.
11. My earnings is expected to increase by 10% each year.

Sir, My querry is:
1. whether, my nominee shall get all the benefits,and all the accidental insurance claims which i have donein the event of my (insured’s death)?, or only policy is payable?
2. Since i have 2 mediclaim policies[ one in bajaj alliaz and other in LIC, shall i get both the mediclaim on my requirement]. If not, shall i close one policy?[Suppose i have mediclaim of Rs. 1,00,000.00 in each policy, and i met an expence of Rs. 1 lac; shall both company pay me 1 lac each? If it is 2 lac, shall both year 1 lac each?
3. Shall i invest somewhere else? I plan for retirement/pension plan next year.

Please guide me.

4 Replies to “Where should i invest/ plan next? Also whether i had invested rightly? If not, how to correct it?”

  1. what if your money made you 1 – 10% or 10% to 200% per month
    with no risk at all,what if you dont need to work and just enjoy life
    what if you can watch your wealth growing while you are having fun
    visit myfxfunds dot com

  2. 1). Yes. Your nominee will get the the assured amount, in case of death.(all insurance claims with bonus)

    2). NO. Either one of it. Check with your agent, as Bajaj Alliance has a clause, wherein, the claims are allowed, even though, the assured has another policy. You can buy Rs2,00,000/- cover for each one of your family members.

    3). Investing in any other plans is your choice.

    Do not invest everything in one basket.
    Under the NEW DIRECT TAX CODE, the Government has proposed to tax the maturity proceeds.

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