Which Policy is better? HDFC Unit Linked Endowment OR LIC’s? and save tax?



Greeting

Friend need your suggestion to save Tax and future investment my salary is 26000 after deduction I get 22560 and in 26000 1271 Rs goes for tax so please advise me is HDFC Unit Linked Endowment is good policy someone told me it make money double after 15 years is that true? Or anyone know better plan in LIC? Please give suggestions

Which Policy is better? HDFC Unit Linked Endowment OR LIC’s? and save tax?
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8 Replies to “Which Policy is better? HDFC Unit Linked Endowment OR LIC’s? and save tax?”

  1. Getting money double in 15 yrs or 5 yrs is depend on stock market as all the money is invested in stocks.however perfomance of the policy vary from one another…all the ULIP policies come under section 80c for tax benfits…..for more details mail me [email protected]


  2. Insurance is not a tool to grow your money. The basic purpose of insurance is to provide risk cover.

    ULIP being market (shares) linked product, the returns can never be predicted or assured. IRDA rules allow projections at maximum return of 10%.

    Please do your insurance planning after consulting a good advisor.


  3. If your concern is just doubling the money then do not go for a ULIP plan. It is a bit expensive. Put your money into a few of ELSS (Equity Linked Saving Schemes), for claiming tax relief under under 80(C)through SIPs (Systematice Investment Plan). There is no entry load in MF schemes. On the other hand ULIPs are too expensive.

    Have a nice day



  4. Why do you want to buy insurance to save tax? If you plan to buy ULIP, it must be a 10+ year investment. And that too if you need it. And if you lock your money in classic insurance plans(offering less than 6% return), you are basically mistreating your hard earned money. It is ok if someone earning 5 lac/month puts 20000 in an instrument earning < 6%. But for someone earning 25000 , every rupee matters. So, don't let your money idle just to save tax. There are enough tax saving investment option for you like PF, PPF, ELSS etc.http://khotapaisa.wordpress.com


  5. why dont u try Max New York Life?
    It has a beautiful plan name Life Partner Plus.

    It will be helpful for U in Ur future life as it has designed all in one & as a free product for U.

    Pls go through that or call me 9481101147 Lakshmi


  6. you get both benefit ( Tax saving+Investment) in LIC. If u want only this two benefit than go for LIC market plus policy is one of finest policy for investment+ tax saving and if u want risk cover is also Option in this plan .but invest money at least for 10 year than u get good return , it may be 3-4 time of your invested money . for more information call me on 9820431119 OR email me on [email protected]


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