10 Replies to “Which insurance plan shall i go far, endowment or money back or whole life or term. i am a bachelour earning 1?”

  1. I am not sure why you need insurance unless you have dependents. In any case, there is no reason to go for endowment,moneyback insurances unless they are ULIP based. Classic(non-ULIP) endowment etc plans give you a return of 3-5%. Do you really think it is wise to invest for 3-5% return? Put your money in MFs(thru SIP), invest in PPF(for safe investment). In PPF you get 8% returns(tax free). You decide – 8% or 5%. If you need protection(if you have dependents), buy a pure term plan. I will put it in simple words –
    If you buy term plan, it serves you.
    If you buy any other insurance(classic endowment, moneyback etc), it serves the insurance company. That’s why LIC (& others) don’t advertise term plan but you can see all the hulla about jeevan Shree, Jeevan varsha etc etc.
    You decide whether you want the insurance to serve you or the insurance company!


  2. If you are a bachelour, then why do you need life insurance? You are earning 1 what?

    Find a financial advisor. You might repost your question with more information under “personal investments”. Life insurance is not an investment.

  3. U have to figure out your future needs and exsigencies that may arise and then decide for the product. Do also check any laon outstanding.

    Further Life insurance products are only variations of term assurance and endowment policies. every insurer are having attractive schemen and products. all u need is to look out for your needs 10 years from now, then u can decide.

    Pension plan is also one u can think of. For further assistance to locate inurance companies visit

  4. Take out the investment component from your insurance plans. Go for a Term Insurance and invest the rest of the capital in good MF schemes through SIP (Systematic Investment Plan).

  5. Last post i was talking about various insurance options – One of the musts in ur insurance kitty is term plan.


    They offer u high insurance value at little cost..example : insured of Rs 20 Lakhs (as we had discussed in previous post) costs u only 5722 Rs per annum, while a money back plan costs u a whopping 67000.

    So y is the term plan so cheap..the flip side is..if u happen to survive the insured period (say 25 yrs), u dont get a dime back.that means an amount of (5722*25) 1,43,000 goes down the drain.

    So shud u go for it?????????? Ofcourse..there is no doubt about it..It is mandatory..the low costs outweigh the negatives.

    Also u can go for a mix of policies…

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