Can you notify me which is the best allowance plan ??
i m 23 years old ,if i retrieve monthly 2000 then at 58 years i achieve pension ! which is
the best allowance plan can you suggest me ??
plz ?
Answers:
pension plans , kids plans are the sugar coated ones to target our sentiments and unease of future, nitin.
dont you here more or less ULIPs.(Unit Linked Insurance policy)
Go for it.
because it give more return since it associated with bazaar.
It give more return than endowment allowance plans, ( jeevan nidhi)
Rs 2000 per month, for 20 years in ulip can dispense you between 42 lakh - 1 crore after 20 years according to the fund you choose in ULIP. that money u can invest within any FD and enjoy the monthly interest as income
beware! dont buy any ULIP. Analise it.most having cumbersome hidden charges ( especially allocation charges), which eat up your capital indirectly.
in attendance are ULIPs with slighter charges and high returns. post me. I will send files in connection with ULIPS and how to select ULIPS.
my mail self is
devaraj0910@yahoo.com
Sorry Nitin, I can't help you surrounded by this regard. But one entry I would like to suggest you that, why are you thinking of such allowance plans? why not investing in other wherewithal investment businesses like shares? It will donate you greater return than pension plans. But it requirement caliber.
try out the HDFC pension/HDFC import tax saver scheme. You are young, can invest contained by equities, invest throuh SIP (systematic investment program, where you dont own to invest all money at one time, but invest a bit every mth, say 2000 every mth)
This opening, you dont have to time the mkt ... surrounded by case its up, close to now, you invest at glorious, but whenit falls, you also invest 2000 at lower levels... and hence, it averages out. Within 10yrs etc, mkts are dependable to go above these level, and hence, the SIP keeps making sense.
Other than that, if you want energy insurance and pension both, try out LIC, resembling LIC jeevan suraksha... it charges pretty low premiums, which wud be deducted from ur investments and income back the returns at retirement.
Suppose you invest 24000 per annum, it deduct say 8000, from it as premium for providing duration insurance ... the rest 16000 is invested in a fund ,which keep on multiplying till your retirement.
The best part... u discharge premium only for read out, 15-20yrs and thereon, you dont pay premium, but will remain insured for the network corpus value times 10 and will find the value accumulate at 58. Hence, be insured for 35yrs (23 to 58) while paying premium for only 20yrs. (till 43yrs of age)
If you are outstandingly risk-averse abt investments, then Public provident fund, PPF, can be a right option, where on earth u can invest a max of 70000 per annum and get a fixed return of 8% per annum, compounded semi-annually. It is tariff deductible, like the others above.
The ascendancy here is, your cash get locked for 15yrs. thereafter, you can withdraw the money accumulate, or keep it invested and give more, till whatever age u want. Also, its secured by Govt of India, so pretty risk-free.
Am joyous you have started investing for allowance from so early age, ppl usually start after utter 30yrs of age whch makes them invest more and hoard still less than what u can by investing smaller number. Thats the power of compunding.
LICS jeevan Tarang Policy is Best option for you
There is no such thing that the best. It depends our desires.
LIC's jeevan nidhi is a pension plan where on earth it works as an endowment plan upto the premium paying term and the proceeds will be transferred to the allowance fund and you will get income from those amount at the rates prevailing at that time.
you can withdraw 1/3 rd of the amount and can go away 2/3rd for pension. since it works as endowment plan you will own good insurance coverage.
moral luck
pnkmurthy@yahoo.com
hi golden years plan is the best pension plan u drop by this site get full info