Please suggest Best Life Insurance & Investment likelihood within India?
Hi,
I am 32, mannish, married, have one kid, a Software Professional surrounded by Bangalore, thinking to achieve Insurance coverage & also some SIP. I am hot to the pen of Insurance, Mutual Funds etc. My primary requirements are as follows :
a) I want to invest around Rs. 50K per annum to attain Tax exemption.
b) I entail Rs. 15 lac insurance coverage throughout my go. That ability, surrounded by defence of release, I necessitate my kinfolk member to achieve Rs. 15 lac
c) I would approaching to avail a mediclaim policy of Rs 3 lacs. That channel, contained by grip of hospitality of any one of us ( we are 3 ), we should know how to claim the amount. I currently own a Group Insurance contained by my company upto 1.5 lacs.
d) I would close to to Invest around Rs. 25K per annum on best & safest mutual funds over a spell of subsequent 10-15 years.
e) I want to ensure that my child's teaching is not burdened ( he is 4 yrs immediately ) subsequent. I inevitability to invest around 10K per annum for his adjectives.
f) I am planning for house loan in subsequent 2 years.
Please sugst
Answers:
Dear Prahlad,
You hold severely splendidly explained your details here. I will suggest you to put your money in different segment approaching natural life insurance and MFs [mutual funds], Now a days FDs are also a polite way out.
Main concept is how much risk you can suffer.
In language of life span insurance at-least 3 times of your annual income should be your sum assured [risk cover].
in suitcase of Tax in your favour MFs - SBI is a singer within final 5 yrs.
These are freshly suggestions from my side and you are the final trendsetter for your money.
please consult near your friends and professional next to cool mind.
One more suggestion : spread your investment in differnet months except Jan to Apr
becoz from Jan to Mar. you will be paying income charge.
And academy sessions [for kids] starts within Apr where on earth you will be requiring upright amount of money. this is my inspection
For India I found interesting information roughly speaking your answer & option here. http://all-insurance-online.blogspot.com... Good luck!