BasuNivesh

Personal Finance Blog

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BasuNivesh was founded by Basavaraj Tonagatti in the year 2011 with the intention to spread financial planning awareness. He is writing articles on various topics related to Personal Finance. As of now, he wrote around 700+ articles on personal finance.

OUR STORY

What We Do & How We Got Here

He is a SEBI Registered Investment Adviser (SEBI RIA) who is practicing the Fee-Only Financial Planning Service, CFP (Certified Financial Planner) and a Blogger.

He registered as a SEBI RIA in the year 2018. He has a client base from India and across the globe.  

He completed CFP (Certified Financial Planner) certification in the year 2011, (a mark of excellence granted by Financial Planning Standards Board, to individuals who meet the stringent standards of education, examination, experience, and ethics). It is the most prestigious and internationally accepted Financial Planning qualification recognized and respected by the global financial community.

His strong belief is that with constant education and awareness we can easily create a sound financial life and avoid wrong advice which may harm our future financial life.

Our Company Mission & Client Vision

MISSION

Our mission is to awaken a financial planner inside our clients by educating, creating awareness by following the simplistic and easy to follow the approach of financial planning.

VISION

To have a positive impact on the lives of our clients by helping them achieve their financial goals and obtain peace of mind over their finances. We do this by providing holistic fee-only financial planning and investment advisory services tailored to the specific needs of each client, based on their goals and values.

 VALUES

We follow the fee-only financial planning service. By this process, we value our client’s needs at first as we are not associated with any Mutual Fund Companies or Insurance Companies directly or indirectly.

RECENT YEARS

The Proof is in the Numbers

740+

Articles

425000

Views

62228

Alexa Rank

6000

Subscribers

2000+

Twitter

4374

Alexa-India

Reader Interactions

Comments

  1. Lokesh K R

    Sir, after many years of gap I watched chandana and it was worth watching your interview. It was very good informative interview and would like to meet you in person for my little income financial planning, thank you sir ,you are an great achiever and suppose to be chaired with Puneet Rajkumar in Sadakara seat , superb sir.

  2. suresh kumar

    Dear Sir,
    i need to invest some money in mutual fund and which the best portal friendly and more responsible/understanding and best fund to invest as of now
    appreciate your feedback

  4. deepak

    Hello,

    I recently bought 1 Cr. term insurance from TATA AIA and policy was issued to me after medicals. Now I have submitted an application for 1 Cr. term insurance from HDFC life as well that will make my total cover to 2 Cr. But the thing is that even after requesting the HDFC executive while application submission that I want my medicals to be conducted mandatorily, they are not providing an option to do that and may issue a policy without it. I have already made the payment to them. Is there a way I can make them to conduct medicals? Not sure why they have such a thing in place.

    Regards,
    Deepak

    • Basavaraj Tonagatti

      Dear Deepak,
      You can’t force them to go for medical. If they are ok with what the risk they are taking by issuing a policy to you, then you can’t help them out. However, make sure to disclose all facts properly. If you still have a concern, then why to stick with HDFC? Go for different company.

      • Deepak

        Hello,

        Thanks for the response. I am fine with no medicals as well. My only concern is related to claim. Will it give them a chance to reject the claim in future citing no medicals?

        Regards,
        Deepak

  5. Ratan Ketkar

    Sir, we are a retail finance company engaged in distribution of loan product. We are going to launch our website in the next10 days. Can we backlink our site to yours. Kindly inform.
    Regards

  6. Kapil Bansal

    I am 32 years old male.
    My annual income is approx Rs 4.5 Lacs. I run a computer institute.

    In my family, we are 5 members
    My mother 58 years old having income approx 6 Lacs.

    My wife Home maker.

    My elder son 3 years old
    Younger son 10 months old.

    I want to buy term insurance for me as well as for my mother of amount 1 crore for each.

    Suggest the best one.

  7. Balaji

    Hi Sir,

    Good afternoon, I am 39 years old and has loan outstanding of 40Lakh, request your advise on best investment plan where i can protect my self and family.

    Thanks
    Balaji

  8. jit singh

    sir i am 62 years old plz sugest me which is the best investment+insurance plan in india. it may be monthly and yearly investment.

  9. K.Krishna murthy

    Basu sir! Iam worrying about medicals before buying term plan as I have hospital phobia.Actually I want to know about medicals procedure….
    Who takes the medicals and can we see our reports? Pls Ans … Iam worrying about it..

  10. jit singh

    sir i am 62 years old retrd.now i am a bussiness partner.i want to purchase a term insuranse for me 30/50 lacs up to the age of 85years. plz suggest me which plan is better for me.if i can do it. is it right to myself .

    • Basavaraj Tonagatti

      Dear Jit,
      It is hard to get at this age. Because of age factor and if their are any health issues. If you feel someone is financially dependent on you, then go for searching for term life insurance. Otherwise, it is a waste product for you.

  11. Nandkumar

    Hi Basu,
    I started my investments in NPS and want to chose my fund managers. I was going through your article for 2018 wherein UTI is the best performer. for Scheme E, ICICI for Scheme C and SBI for the Scheme G. Can you share a similar study for 2019.

  12. Shubham

    Hello Sir,

    I have read your many answers in Quora and got more about you there. I want to ask you from where you get the list of all mutual funds, their returns since the inception, their expense ratio, risk measure factor data etc.

  13. HM

    Hello Sir,
    My name is Hardik. I have some doubt regarding my TAX on EPF Withdrawal.
    I worked for the company from March 2013 to April 2016 (less than 5 years of service). Later I resigned and moved to abroad.
    I want to withdraw my EPF. IF I with draw the EPF what shall be the tax implications.
    1) As I have not completed my 5 years of service, if I withdraw EPF NOW (Dec 2018), how the tax shall be levied. Is the EPF will deduct the TDS and release the EPF money? Should I have to pay them back tax benefit that I took during my March 2013 to April 2016 under 80cc.?
    Basically want to understand at this stage what would be the tax implication?
    2) What is best time to withdraw EPF to avoid the TAX earned on interest?. Should I withdraw in April 2021 to avoid the entire Tax on interest income (earned on EPF) ? In April 2021, EPFO will deduct any TDS?
    3) Would I earn interest till April 2021?
    4) Please be noted that since then I am filling every year though my income is under non-taxable slab. Not shown interest I earned on EPF as I have not activated my EPF and don’t know how interest I am earning every year. Even though I will add that it will be non-taxable.
    Thanks
    Regards,

    • Basavaraj Tonagatti

      Dear HM,
      1) It will be taxable income (irrespective of whether they deduct TDS or not).
      2) To avoid tax, you have to work using same EPF account so that it completes 5 years.
      3) Yes.
      4) Check the passbook and confirm the interest credited status.

      • Hardik Mody

        Thanks for your prompt reply.
        1) I understood that interest income shall be taxable. However, how about PF withdrawal amount including contribution that I made during my service? Should I have to pay them back tax benefit that I took during my March 2013 to April 2016 under 80CC.? OR it will be calculated in year in which I will withdraw the entire amount and according to that year tax slab I need to pay the tax?
        2)
        3) What is more advantageous if I will draw now OR if withdraw after 5 years of resigning. Please be noted that I have not completed my 5 years.

        Thanks

          • HM

            Thank you sir for your time. Still I have few questions.
            From above discussion I have below query:
            1) Let say, INR X amount is = Contribution + interested earned during service years 2013-2016 + Interest earn from 2016 till Dec 2018 after service. Now, if I withdraw X amount, I need to pay the tax on X amount. The tax slab shall be applicable on X amount shall be as per 2018-2019 year tax slab?

            2) If answer to above question is yes, then X amount shall be taxable per below (assuming there is no other additional income and tax saving instrument)
            from INR 0 to 2,50,000 = No tax
            2,50,000 to 5,00,00= 5 %
            5,00,000 to 10,00,000= 20 % ?
            10,00,000 and above = 30 %
            Is that correct?
            3) Incase TDS is already deducted from the interest earn till date do I need to adjust (deduct) that amount from above X amount and then I should file my return for 2018-219?

            Thanks

              • HM

                Thank you.

                Just wanted to reconfirm that above all this 3 YES answers are applicable to:

                1) Where I have not completed 5 years of service.

                2) If I am withdrawing the amount NOW (i.e. after around 2.5 years of resignation of service).

                Regards,
                HM

  14. Krushnadevsinh Gohil

    Hi
    I want to invest 1 lakh lumpsum for STP-SIP.
    Time duration for 5 years.
    Goal. School fees for 12th standard.
    Pls suggest best funds

  15. Sharath T R

    Hello sir. I am 19 years old, about to graduate. I have a fair knowledge of the stock market. I have also accumulated a tonne of financial knowledge from books and your blog. I was wondering if I can work with you on something for your blog. This way I get to learn.

  16. Atamjit Singh

    Hi Mr.Basu.. I am a govt official and have already invested in some mutual funds on my own. But now i feel i require proper guidance to manage them. How can i avail your expertise on the same

  17. Santosh Chavali

    Hi Nivesh,

    I completed 5 years with my current organisation, I would like to know if there is any possibility to withdraw partial PF amount.

    PS: – I was not able to update the PAN details in unified portal.

    Your insights in this regard is highly appreciated.

    Thanks,
    Santosh

  18. Subhanjan

    Hi Basu,

    I am 40 years old working class person want to start SIP and do some investing for securing my future and to help me do some financial planning…

    Can we discuss further in a call?

    With Regards.
    S.Ghosh

  19. Dheeraj

    Hi Basavaraj,

    It’s nice to find you sharing awareness and directing people for betterment.

    I wanted to ask it would be good to invest in debt/equity 50/50, Goal is to create 50Lacs in 6 Years.
    In which Good quality MFs i should invest in considering relatively lower risk.

    Thanks,
    Dheeraj

  21. Yogesh

    I am new investor with zero experience in MF. Now I am planning to invest 5,00,000 lump sum for next 10 year to create wealth so that it can be used to buy property where I would like to settle after 10 year. Can you please advice me what i should do?

  22. DINKAR

    Hi Basavaraj,

    I have below query w r t EPFO

    I QUIT COMPANY 3 MONTHS BACK AND I HAVE NO PLAN TO JOIN AS EMPLOYEE IN FUTURE. IS THERE ANY WAY THAT I CAN KEEP EPFO ACCOUNT BY PAYING BOTH EMPLOYER AND EMPLOYEE SHARE? OR IS THERE ANY WAY? I AM NO MORE PLANNING TO BECOME EMPLOYEE. I HAVE WORKED AS EMPLOYEE FOR 10 YEARS

    PLEASE LET ME KNOW

    DINKAR

      • DINKAR

        Hi Basu,

        Thank you very much for the quick response.

        I need some suggestions and advice’s

        Based on the link you have shared I understands that there will be no more free tax for the interest earned on PF day job get retired /resigned or terminated

        I quit company in the month of September so there is no employee share +employer share to my account from October, 2017

        Options for me

        I assume overall PF amount accumulated so far in my account will be nearly 6 Lakh

        If I don’t withdraw my PF amount till 55 years of Age, If I calculate with current EPFO rate, I will get interest of Rs 51ooo (Based on 8.65%)

        So from your article I see Interest earned is taxable. If my overall taxable income for the year is 5 lack then total taxable income will be 5,51,000. Is my understanding is correct?

        Assume I haven’t declared it for the IT this year. Next year if taxable income is 3 Lakh then my overall taxable income tax it would be 3.5 lakh right?

        So what would you suggest me here. I have no chances to become employer again . I need to open my own business

        Please advice me

        Thanks,
        Dinkar

          • Dinkar

            Hi Basu

            Thank you very much for the quick response

            Today I tried to withdraw my EPF online through EPFO Site. I see warning message saying ” Your account linked to multiple UAN numbers” though I have only One so far. How to find out Multiple UANs linked to my number?

            But I have downloaded my Passbook and I see everything updated with my recent employer
            where all previous employers PF amount is mentioned in the passbook

            If I manually withdraw with the recent Employer I will get all amount carried from all previous employers right? Please guide me and suggest me

            Thanks
            Dinkar

              • DINKAR

                Hello Basavaraj,

                Thanks again for the reply. For me now I don’t have any employer.Also I have only one UAN so far. I am not sure why website showing wrong info

                I have already completed 5 years. One of my known told me that I need to submit Form 15 G as well. Is this true?. If I want to manually submit the withdrawl what are all forms I need to submit? Please guide me

                Thanks,
                Dinkar

  23. Sanjeev Singh

    Hi Basu Sir,
    Thanks for making us financial literate. Just wanted to know, I have extra money of INR 15000. In which MFs, I should invest considering low risk and high gain.

    Best regards,
    Sanjeev

  24. Pradeep

    Dear Basu, Greetings !!
    I have an active PPF account in SBI and a savings bank account (with net banking) too in the same branch. My PPF account is getting matured in March-18 and I want to close it. Problem is that now we are residing away from the home branch. Is it possible to close PPF a/c and withdraw the money without visiting the home branch? What is the procedure to close this PPF a/c. Kindly reply. Thanks & Regards.

  25. Kunal Jain

    for my withdrawl below is the reaon of rejection.
    Can you kindly explain what exactly it means and what I should do in response of it

  26. shrinath

    Basavaraj,

    Could you please share which are the best options for the child policy. For my first kid, i opted for HDFC Youg Star Super II 8 years back. My second kid will be completing 1 year by 23rd Oct and I am interested to know if there are better policy. Is it really worth going for the child policy?

    Also could you provide the financial plans for long term, if yes what are your fees? I would like to discuss with you and plan for my financials post retirement

    Thanks
    Shrinath

  27. P P K

    I am 50 + and wife49+. My daughter’s are 18+ &15+. I am holding Icicilombards ploicy from last 7 years. But in this sub-limit is there. If I remove this sub-limit the premium would be high.I am not claimed last 6 years, & this year claimed for my daughter.
    Because of high premium I am thinking for port to other company or start to other health insurance schemes. Which one is good/ Oriental,United,Appolo Munich, Kindly advise me. Presently family floater is 3 lakh and non claim bonus is 1.5 lakh.
    I am looking for around 5 lakh plolicy.
    Kindly advise me

  28. vivek

    sir i am a bank employre.
    in april 2017 i wrongly opened a PPF account in the name of HUF. kindly sugest me how to close the same .

  29. Divya

    Hi Sir,

    I have resigned from my previous organisation and I am currently working with another company.
    Both my previous PF member ID and my current company member ID is registered/linked under same UAN. Will i be able to withdraw my PF amount of my previous organisation in this case.
    Please guide me with the possibilities.

  30. VIKRAM GOLECHHA

    SIR ME POST OFFICE RECURRING DEPOSIT SE RELATED 2 BAATE JAANNA CHAHTA HU..
    1. KYA RECURRING DEPOSIT ACCOUNT ME ACCOUNT HOLDER KA NAME CHANGE HO SKTA H..
    2. RECURRING DEPOSIT ME AGAR 1 SAAL BAAD HALF WITHDRAWL KRVATE H .. ND 3 YEAR BAAD FULL PAYMENT UTHA LETE H TO HALF WITHDRAWL PAR INT. RATE KYA CHARGE HOGA…

  31. Krishna

    Sir,
    I am investing below funds SIP for long time wealth creation.

    1.Rs 2500 – HDFC MID CAP OPP FUND
    2.Rs 5000 -HDFC PRUDENCE FUND
    3.Rs 5000 – RELIANCE REGULAR SAVING (B)
    4. RS 4000- REGULAR SAVING (G)
    5. Rs 2000- BSF DEVIDEND YIELD PLUS

    Kindly advise whether this is wise or any modification needed.

  32. Manjunath

    Dear Mr.Basavaraj,

    I need your advice..
    I am 47 year old man with a family ( wife – 40 years, daughter – 10 years).
    I want to retire by 50 due to personal reasons.
    Current annual Income is Rs. 10 lacs.
    I have a own house so no EMI / Rent.
    I have a corpus of 75 lacs ( liquid).
    For child`s education I have been investing in HDFC Child plan – Rs. 60,000 annually for the past 8 years ( current value – around 6 lacs). This investment will continue till year 2025 ( maturity).
    I have PPF – 18 lacs ( as of now) which will mature by 2021. Don`t intend to continue to Invest unless I have surplus. But, I will hold the existing investment till maturity.
    My current monthly expenses are Rs.70,000 p.m.
    So, where should I invest Rs. 75 lacs so I can retire by 50. If the investment is not enough that the returns would not cover my monthly expenses, then for long I should continue to work assuming 10 lacs annual income.

    Regards,

    Manjunath

  33. N srinivas

    Dear Basu,
    I want to invest around 2lakhs per year in mutual finds for best returns.so can u name few mutual funds in which i can invest.

  34. NERALLA SRINIVAS

    HI BASU

    I am neralla srinivas from andhra pradesh want to invest in mutual funds atleast two to three lakhs per annum for 5 years for best returns.can u suggest how much amount per month to invest in which funds.Please suggest me.what is sip.

  35. Anurag

    Hello Sir,

    I am Anurag, from Bangalore. I would like to get some expert opinion on my financial planning. I am 37 yr old, working in a software company and my annual package is 20L.

    I have taken a LIC Pension plan (814- New Endowment Plan) last year and the premium is around 59,000 per year.

    In this, they are calming that around Rs.15,000 pension would be paid after 22 years of payment/investment and my depended would get the same pension after my death. also return of the purchase price to the nominee on death of last survivor. ie after 22 years of premium payment the maturity amount would be around 26,00,000 lakhs and the same will be invested for pension. After death of the last survivor(myself and my wife),the invested 26L would be paid to the nominee (kid)

    The annuity option which is mentioned is 15k pension for Life of Proposer and Spouse with return of purchase price on death of last survivor

    kindly recommend whether should I go countinue the investment with this plan or switch to SIP (Systematic Investment Plan) .or any other better plan

    I have already taken term plan from LIC worth 50 L and 1 Cr from ICICI.
    I also have a home loan of 43L which is started 5 yr back and I am paying 42,000 EMI

    I want to start planning for my 2 year Old Kid’s future.

    kindly recommend me the best approach.

    Thanks & Regards,
    Anurag

    • Basavaraj Tonagatti

      Anurag-When you already had a term plan, then why you invested in INSURANCE product? The LIC plan you are holding is not annuity plan. But it was sold like that by your agent. In my view considering this product for your retirement is a WORST decision.

  36. Sachin

    Hi Basu,

    Came across your blog and I am really impressed with it.
    Good to hear that you are from Guledgudda.
    Even my native is Bagalkot.

  37. Sharat Das

    Hi Basavaraj,

    I am Sharat Das, a regular viewer of your Blog. I run a HR & Legal Consultancy here in Bhubaneswar.

    I always love to advice & guide to people those need. Few days back, i was searching the best blogs in India. I found you at the top. I am really inspired by you and your Advise.

    Now I am planning to launch a Blog (website) where I can put all my thoughts and imaginations what qualities I have. I am requesting you please advise me how to start a successful Blog through which I can earn some amount of Money to run this successfully.

    Thanks

    Sharat Das

  38. sravan kumar malyala

    Hi Sir,

    I want to know the chitfunds growth . Like which one is strong in benefits and growth sector, which one can believe. I know there are some of the famous chit fund companies like Shriram chits, margadarshi chits and Kapil chits.
    Please provide me any information regarding chit funds in your articles.

  39. Avinash Kumar

    Hi Basavaraj,

    Two UANs has been alloted to me, one by my previous employer and one by my current employer. UAN’s FAQ mentions that I have to get the matter resolved ASAP and then put a transfer claim from the previous one to the new one. However, my claim to transfer funds from the previous EPF to the new EPF is already settled.

    Also, I have not registered my new UAN yet. Should I proceed and register the new UAN as well ? Please note that I have already mailed UAN at uanepf@epfindia.gov.in, provided every bit of information they need but I’ve got no replies regarding that at all.

    Please suggest.

  40. ravi

    Actually i worked from 2010 to 2013 in chemical industry.and than i am leaving my job and completed my higher studies.Now i am joined in new industry by using total experience (2010 to 2016) so this new employer asking my pf number and uan number,if i am given my account details is there any problem occur if its occur what i have to do and how to manage the problem please advise me presently i need job

  41. Akter

    Dear Mr. Baswaraj,

    First of all I would like to thank you for showing the path to investors who do not have any knowledge about investing. Your articles are very informative, useful and helpful. You are a mentor for many investors like me.

    I have a EPF Rs. 2000 Monthly. Now I want to open a SIP for 10 years for my child education purpose which is better SIP today (Monthly amount Rs. 1000/-).

  42. Shashikant Phadake

    Hello Sir, where can I get pre-open market chart of equity?Please do needful.

    -Shashikant Phadake

  43. Aliya

    Hi Basu,glad to have come across your blog. Im 27 years old,doctor by profession and have very less knowledge about investment.I want to invest in mutual funds.have never invested before.Want to know which mode should i use for starting sip of 5k pm.I have an account in hdfc but they charge a lot for opening demat a/c and AMC.As u have already advised not to go with the bank bkz they r least bothered about portfolios.I dont have very well defined goals as of now.plz suggest how to start investing in mf so that it doesn’t put me under a lot of pressure about switching the funds/sector for generating higher interest.also its difficult to find an agent/broker for me.
    Is it possible for me to start a sip for 5 years and stop it in between if i need the money without incurring any penalty?also can i extend the period of time from 5 years to 10 or 15 later on?

    • Basavaraj Tonagatti

      Aliya-You can start with advisers (like me), online portals like FundsIndia. If you are capable of handling your portfolio on your own, then go for DIRECT funds (where no middlemen and cost is less). Choose the one which you opt for. For DIRECT, you can invest directly with AMC (Mutual fund companies portals), MF Utility or portals like Investza.
      Yes, you can start the SIP in middle at any point of time. Also, you can extend the period as long as you wish.

      • Aliya

        Hi,i was mis sold a hdfc ULIP and have recieved the document today.i wish to return it.its written i can return within 15 days and if they find my reason valid,they will arrange the refund.
        Can u tell me what reason should i give so its considered valid.i was mis sold as in i was told by the branch manager that its like FD and wasn’t given this information that its subjected to market risk and that i was required to pay premium for 10 years.i should have done my homework before agreeing but now i want to amend it.plz help asap

          • Aliya

            Hi,I want to start investing in MF through 5 SIPs of 1000pm each.how and where to start from..which MFs should I select….right now my plan is to stay invested for 3-5 years.
            Also guide me which books/apps are good for learning about finance/investment for a beginner.

  44. Sanjeev Kumar Sharma

    Hi Basavaraj

    I have been investing in Equity, MF, SIP and insurance since 2002 and I want your expert advice for best investing.
    Could you please help me for this? Do I need to hire you? If yes how much it will cost me?

    Regards.

    Sanjeev Kumar Sharma

  45. Sethurajan

    I need your advice in filling my IT returns,let me know your email id or mobile number privately please

  46. Prakash Chandra

    Hi Sir,

    I would like to share my filled pf withdrawal UAN form with you to review it. Please provide your email id.
    I went to Pf office for checking my form to pre-check any pendency but they refuse to do so.
    Please reply asap.

    Thanks
    Prakash Chandra

      • Prakash Chandra

        But they told they are not gonna provides any pre-submission remark as they only provided it when form gets rejected.
        So, Please if you help me than at-least chances for my form being rejected gets reduces

  47. RAvi Agarwal

    hi Basu, I have a query-which someone suggested me,
    can a family of 3 invest 4.5 lakhs in PPF
    both parent have a PPF account and opens a 3rd acocunt for minor child.
    suggestion says that- Father deposit 5000 in his own account and 145000 in child account.
    Mother deposits 145000 in Husband and 5000 in childs acocunt ALONGWITH 150000 in her own account.

    Now since the father is the guardian of the child, he is within the limit of total 150000 investment and SINCE mother is not marked as a guardian, she is entitled to deposit additional money in husbands and childs account while depositing 150000 in her own account,

    i know this is not possible. but still need your guidance

    • Basavaraj Tonagatti

      Ravi-When father is guardian of a kid, then including both accounts, he can only deposit Rs.1,50,000. Which is satisfied as per rule. Now regarding mother’s contribution, she can deposit to husband’s account. However, for kid’s PPF account, in my view she is not able to deposit. Because it must be through her husband. But husband already deposited Rs.1,50,000. Hence, it is not allowed.

  48. Mohan Narasimhan

    I am a NRI. Would be retiring Ina year’s time. Do you recommend to invest inLIC’s jeevN ask hay vi plan ?

  49. Arun

    Hi Basavaraj,
    I got a sms from EPFO that my amount of previous PF account is sent to an SBI account. I didnt do any transfer. How can i resolve this. Please help me.

    Arun
    09964585394

  50. sami

    HI SIR.

    I WANT TO WITHDRAW ALL EPF BALANCE OF LAST 2 YEAR.

    ALMOST RS-52 THOUSAND (EMPLOYEE+EMPLOYER CONTRIBUTION) . CAN I WITHDRAW ALL?

    PLZ LET ME KNOW

    UR REPLY WOULD BE APRECIATED..

  51. Prisha

    Hi Basu,
    Need ur expert advise on my current investmnet planning :

    I’ve taken 16 Jeevan Anand policy each with 1L sum assured but with different premium paying term (starting from 10 yrs to 26 yrs) in 2013. Total yearly premium for 16 policy is approx 1,10,000 and 3 premiums are paid so far.
    I also have another Jeevan Anand with 5L sum assured for which 3 premiums are paid (yearly premium is 27k ).
    In addition to above, I’ve Jeevan Saral and other policies, so my total contribution to LIC premium on yearly basis is approx 2L.
    I feel my LIC contribution is more than it should be and now thinking to get rid of some policy (either by surrender or paid-up) and take term insurance and invest future premium in SIP instead.
    My current contribution to LIC and SIP is 57% and 43% respectivly.

    My Qs are :
    -Should I make ‘paid-up’ of 3 policy atleast with term ranging from 10 to 12 yrs now or ‘paid-up ‘ after 5 yrs ( by paying premuim for 2 more years).
    -In what combination should I surrender or paid-up my LIC policy so as to increase my SIP contribution.
    -Should I continue with LIC premium as it is and increase SIP contribution in future as my salar increases.

    Pls advise.

    • Prisha

      Providing additional details :

      16 LIC policy were taken keeping my son’s education(seconday school) in mind (in such a way that I get atleast 1L every yr from 2023 onwards). My son is 2013 born. I’ve planned for his first 3 years education via recurring and corporate FD’s.
      I’m working in IT since 10 years now.

    • Basavaraj Tonagatti

      Prisha-The worst product any agent of LIC can design is these combo plans. Read my earlier post “LIC Agent’s Magic Plan Retire and Enjoy-Stay away“. I know it is heavy investment and big mistake you did. Try to come out of these plans at the earliest.
      LIC’s almost all endowment plans (in whatever name you call like Jeevan Anand or Jeevan Saral), will not fetch you more than 7% returns. So how can you cope up with inflation?
      In your next comment you mentioned that the maturity amount of such combo plans will be Rs.1,00,000 per year from 2023. However, what is the value of this Rs.1,00,000 in 2023 (especially when it comes to education cost)? Think and decide.
      At the same time, I am not neglecting the importance of insurance. Hence, buy a term insurance immediately to the tune fo at least 15-20 times of your yearly income.
      Regarding your SIPs, I am unable to understand what it is? SIP is not a product but the way of investment. Let me know more.

  53. Ganesh J

    Dear Mr.Basu,

    I am a regular visitor to your blog and find it very informative. Congratulations on completing 4 years and my best wishes for many more years to come. I have one request, which is to add a search option to the website. The reason being I sometimes look for specific details or information on the articles which I may have read earlier, which is very difficult to locate in this huge pile of information. Thank you.

    • Basavaraj Tonagatti

      Ganesh-You can use the “Old Articles” Tab or the specific categories created on header. If you still feel uncomforted, then let me know. I will try to resolve by changing the design concept. Thanks for your suggestion and wishes 🙂

  54. lakshikanth

    Hi Basu,

    I am planning to take term plan from any of the pvt insurer because of cheaper premium than lic. but i had a doubt about the existence and ability of solvency in the long run. The corporates can do anything. is it a really considerable doubt or it is just an hypothetical assumption. Please suggest.

  55. Lokesh

    Hi sir,

    I am MBA (Marketing and Finance), have 19 months experience in Health Insurance(Infosys BPO), and 15 moths experience in Financial process(Fidelity Investments). Now I am planning to take CFP, for better career.
    1)Now does the board consider my 3 years experience as Finance(Hence insurance is one of the modules in CFP).
    2) What is the Future of CFP
    3) What are the best activities to complete CFP and grow further

    • Basavaraj Tonagatti

      Lokesh-I am not sure the domain of BPO be considered as experience. However, being an MBA I think you can directly go for CFP final module. Future of CFP is bright to those who are ready to learn and customer centric. Learning and learning is the best activity to compete the CFP. I suggest you to contact FPSB India directly regarding your eligibility. Because I don’t know the current rules.

  56. PSSrinivas

    Dear Mr. Baswaraj,

    First of all I would like to thank you for showing the path to investors who do not have any knowledge about investing. Your articles are very informative, useful and helpful. You are a mentor for many investors like me.

    Now I have a strange problem. I think that insurance in India is a racket and in particular the private sector. Recently I called a insurance person from some X company ( I wish not to mention the name of the company) and I was surprised to hear that the term insurance does not serve its purpose in case of permanent disability to the insured which is more than death. Also the endowment policies are just crap and does not serve the purpose and just fills the pockets of the insurance agents. Request you to please throw some light on the insurance and insurance sector as well.

    Regards
    P.S.Srinivas

    • Basavaraj Tonagatti

      Srinivas-The name itself indicate that LIFE insurance. So it purely take care of death but not survival (partially or fully disability). That is the reason you MUST have accidental insurance as well. Thanks for your idea and I will definitely look into it.

  57. Anil Kumar

    Dear Basavaraj,

    This is Anil Kumar, presently working in a private firm in Bangalore.

    I worked since April 2012, in Gujarat. When I left that company, I applied for my P.F. withdrawal after 2 months (in July 2012), but due to some reasons, application got rejected, I tried to find out the reasons but didn’t able to find.

    Now as again I was filling the application, I noticed that my name mentioned in employer record is “Anil Kumar Singh” (as it appears in my Salary Slip) while in my supporting documents like PANCARD, Passport name I used is only “Anil Kumar” only.

    I am assuming that may be the reason, my application got rejected earlier.

    Now what action, I should take so that my P.F. withdrawal application not get rejected again.

    Do I have to submit any affidavit for the correction of name, if yes do you have the affidavit format?

    Also as its more than 3 yrs, P.F. account is inactive, do I have to submit INDEMNITY AFFIDAVIT. If yes can you provide me the affidavit format.

    Thanks in advance for your reply.

    Anil Kumar
    8951149930

    • Basavaraj Tonagatti

      Anil-Being in job means you can’t withdraw your earlier EPF. You can transfer the funds to the current one. Use EPFO OTCP and request for transfer. Regarding name change, I don’t think it is a huge mismatch.

  58. Suresh

    Hi,

    Suppose recently one employee has joined our organization but if he has not withdrawn his earlier pf but still wants PF exemption in present company (Our organization). So is he eligible to make declaration in form 11?
    Pl reply.

    Thanks in advance

    Regards
    Suresh

  59. Vijay

    Dear Mr. Basavaraj , I got to your website searching for current Market Values of properties in Bengaluru, your article
    Bangalore’s property revised guidance value, August 13, 2013 by Basavaraj Tonagatti came up in the search , it did not feature Koramangala, We need to know the current fairly accurate more importantly Market value & guideline value of plots in the Koramangala third block area & koramangala as a whole, kindly furnish details & contact numbers to my email address for future consultations with you on all financial matters , appreciate an earliest reply Regards, Vijay , Bengaluru.

  60. mahesh

    Hi Basu,

    I am confused with words SIP and Mutual fund, can you please let me know what is SIP? and which is the best plan i can invest through SIP?

    Thanks in Advance,
    Mahesh

    • Basavaraj Tonagatti

      Mahesh-SIP is a way of investment. Even a monthly RD in bank also be called as a SIP. But sadly many understand that SIP is a investment product. Regarding investment through SIP, without knowing your goals and financial details, it is hard for me to guide you.

  62. Mamta

    Respected Basu sir ,

    I have an Insurance query …

    I work as an Independent Distributor (sm ppl call it Agent) in Amway company.

    I get commision based on monthly sales.

    I hv been associated with it since June 2013. I didn’t file Tax Returns Last year … So I want to know –

    (1) Can I file Tax returns of 2013-14 along with 2014-15 ?

    (2) What is the last date of filing Tax Returns in my case since I am not a salaried employee ?

    (3) Can I do it online on my own ? If “Yes” , then what form I need to fill in ?

    Waiting for your response and Thanking you in Advance ?.

    Regards !
    Mamta

    Sent from my iPhone

    • Basavaraj Tonagatti

      Mamta-You can file the returns but is left with AO to consider (In some cases they may impose penalty). This year it is 31st August. However, usually every year it will be 31st July. Yes, you can do it online. You can use ITR4.

  63. Geraldine Faife

    In 1993 I bought a property 15′ x20′ in Whitefield, Bangalore in the same year I bought an additional bit of 5’x20′ to make the entier property 20’x20. I obtained a Punchayat Katha for the 15’x20′ and applied for a new katha but did not follow it up. Reciently when applying for a loan to build on this property I was told that I needed an A Katha and that I had only had a katha for 15’x20′. I have paid all the taxes for 20×20 property up to date. I seek your advice on the following: 1. How do I get an A Katha? 2. How much should it cost?

  64. Raj Shetty

    Sir, I am an NRI. I have recently opted for SBI Life Insurance Saral pension plan. I am paying a premium of Rupees 10 lakh+ annually. The sum assured is Rs. 1crore+. It is for 10 years term. At present my age is 39. I want to know if this will give me, better yield than NRE Fixed deposit?

  65. Ranjith

    Hello Basavaraj,
    I am planning to invest in a long term Endowment Plan. Regarding this I met an LIC Agent, he suggested me to go for Jeevan Anand policy. I am planning for a 25 year term. So is this policy good or do you suggest any other better policy. Kindly reply with your suggestions.

  66. Surya Prakash

    hi Basu,

    My mother had invested Rs 2000 in GOLDEN FORESTS LIMITED in 1995 & it is matured this may as GOLDEN FORESTS LIMITED GIVEN MATURED PAYEE CHQ OF Rs 160000. like my mother lot of investors got stucked up for maturity claim,

    can you help me to get the claim from them, what all way or what is the current status of that claims which is pending from them.

    regards
    Surya Prakash.
    9686599956.

    • Basavaraj Tonagatti

      Surya-To be frank, I don’t know what that company is. By visiting the portal of company I felt it is totally in bad shape when the homepage itself clarifies the investors agony. I feel it already collapsed like Sahara and you have either to approach court on your own (I found few judgements on it, but don’t know what all these) or in group.

  67. Parthiv

    Hi Basu !

    I am connecting with your blog since long time. I have few queries regarding my current investment. Need your guidance.

    Can you share your professional mail id.

    Thanks !

    Parthiv.

  68. Chandan

    Sir
    I am from Assam.Can you tell me about GRM gold in Secunderabad.I invested some money with them in gold.I want to withdraw the money now.

  69. Amol

    Hi Basu, Help me to understand options available to me on Provident fund. I am NRI with no income in India from 2012. I worked in India from 2009 to 2012 had provident and voluntary provident fund contrbution to company’s private PF trust. Once I left the job in 2012, I had not withdrawn my PF. As I moved out of India, I had no option to tranfer in PF. Now, its about 3 years (2012 to 2015), PF account will become dormant with no interest paid. I have no immediate need of money. Help me to understand on tax liability on PF withdrawal. I understand 5 year of continuous service leads to Tax free withdrawal of PF. Will my 3 year of service (2009-12) and 3 years of waiting (2012-15) be counted in continuous service? Or Do I have to wait for another two years to be elligible for tax free withdrawal?

  70. Nagendra

    hi Sir,

    This is Nagendra ,Engineer working in Bangalore from last 6 years.
    I did start my investment at start of my career with SBI magnum taxgain. Down the line started investing on few other funds.Below are my mutual fund investment details monthly

    SBI Magnum Taxgain–3000
    SBI contra —1000
    SBI pharma—2000
    SBI gold—1000
    HDFC top 200—1000
    HDFC Equity—2000

    Insurance:
    LIC jeevan anand —-20000 yearly.
    Birla sun life—1500 monthly.

    PPF account opened last year. Planning to put 50000 yearly

    I do not have any loan. My queries are as below
    1. Can i continue with the above mentioned MF and other investments?
    2. I have a child now. How can I plan for his future?
    3. Planning to purchase a land.Can I take all the MF amount and invest in land?

    Eagerly waiting for your response……

      • Nagendra

        Magnum pharma gold was my choice and others by broker thru my friend……i can cancel these any time based on ur suggestions…..

        • Basavaraj Tonagatti

          Nagendra-I am not a fan of SBI Mutual Funds. HDFC Top 200 is good. LIC and Birla are combination of Insurance+Invesmtent. So again I am against such combination of investment. Planning for kid involves lot of data sharing your end. I can’t suggest a plan in two lines. Investing in land? What prompted you to arrive at this thought?

          • Nagendra

            Investing in land means to have a your own house in Bangalore to lead the future life…..

            Currently staying in rented house….

            Please let me know on what data you want me to share for kid future…..

            So whats your MF suggestions as I will be interested in long term…..

            • Basavaraj Tonagatti

              Nagendra-It is purely left with you to buy a home or in rented. I personally stay in rented house and I am much comfortable. Data sharing involves full financial details (not in this platform but personally and it is fee based service). HDFC Top 200 and ICICI Pru Value Discovery Fund. These two funds are enough.

  71. Mohammed Noorulla

    i have 2 kids . daughter is 4 yr son is 1.5 yrs old. i have only taken sukanya account in post office for my daughter & planning to invest 2000/PM. i want to invest in 5000/pm in mutual fund my goal is 15yr please suggest some good fund /brokerfirm who can help me.

  72. t janakiraman

    sir iam t janakiraman from chennai now we are having health insurance with new india assur ance 3 lake each for3 now i feel the perimum is higher than others suggest me which company to change thank u

  73. S S Shetty

    Dear Mr Tonagatti,

    We have significant investment in ULIP of LIC. Precisely in Market Plus 1 and Money Plus plans both in GROWTH FUND. We had invested in Market plus 1 plan in Aug 2010 through 2 single premium of 50k each without any insurance cover or rider. In addition we have been contributing 55k/year towards market plus 1 plan since Mar-2010 without any insurance cover or rider. Also we have been investing 10k annually in Money plus since Mar-2007 with an insurance cover of Rs 1.0 lk. Currently NAV of Market plus 1 and money plus 1 are Rs 18.9241 and Rs 16.9498 respectively. The returns on this front has been dismal (significantly less than what we would have got in a bank FD). We are thinking of withdrawing entire investment. What are your views. Should we stay invested or withdraw?

    Thanks
    Shri

    • Basavaraj Tonagatti

      Shetty-Better to withdraw. No Hope that they perform well. But how you can time the market and say that this is my OPTIMUM TIME to withdraw? Buying product only for the sake of tax saving is a biggest blunder. Please try to define your goals then finally chose products.

  74. Ajnabi

    Thank you for this awesome blog.
    If I have 10 lakhs to invest as an NRI for a 5-10 year period, what is the best option?
    FD or some insurance plan?
    I am personally not concerned about the death benefit value at this point as i have an insurance here. I just want to figure out what is the recommended investment vehicle? (FD vs. Some ins plan).
    I am not interested in investing in stocks/MF/other at the moment.
    If you suggest ins. plan, can you recommend a plan or two that i can explore?

    Thanks!

      • Ajnabi

        10 years. I am flexible between 5 years and 10 years, but if I dont get the investment back till 10 years, i can live with that.

              • Ajnabi

                I have a fair amount of exposure to those in my other portfolio.
                I was approached by kotak with some ins. plan. Pay 1lakh per year for 15 years. no premium from 15-20, then beginning 21 year get 75k for rest of life… something like that.
                i figured i should get some exposure to such investments and see whats out there. may be i can diversify my investments a little bit. I understand that these ins. companies and other products probably invest my money in stocks/mfs.
                Additionally, with FD there is almost 0 risk besides the forex risk. however my intention is to leave this money in india and use it in india when i m there and for some small donation/charity/etc.
                My main question for you is that if i have about 10 lakh rupees and i m ok to put it for 10 years, is there a stable/safe investment model besides fD?

                • Basavaraj Tonagatti

                  Ajnabi-Your requirement is for 10 yrs but running behind a product of 21 yrs term. I think you not fully understood the concept of diversification. But the product must match your requirement. Second whether it beats the inflation or not. If both not possible then I think Kotak guy who sell you will be richer than you…mind it 🙂

                  If 10 Yrs is your time horizon then why can’t you use equity mutual fund? What making you to shy when you are ready to invest in a worst products of the recommendation given by Kotak.

                  • Ajnabi

                    I m not sure if you are giving a clear answer.
                    All i m saying is i was approached by kotak guy. I DID NOT buy the policy.
                    I m trying to see what investment vehicles exist besides FD that are safe for about a 10 year period.

                    The equity funds appear to have higher fees. The stock market has had a great run, so I am kind of hesitant.
                    And dont you read my responses? I said I already have enough exposure in stocks and funds in my other portfolio.
                    That is why i want to play safe with some of my other money and I am asking is there anything that beats and FD?
                    How is that not diversifying my investments?
                    and here you are trying to teach diversification and assuming i m investing in “worse”products.
                    After reading your responses to my queries here, You know what I dont need your advice.
                    Thanx, but no thanx.

                    • Basavaraj Tonagatti

                      Ajnabi-If did not buy KOTAK then stay away. Equity funds at higher fees? With what? Any comparison? Exposure to a product must be based on your goals time horizon. Suppose, you have many of long term goals then I suggest more equity than debt. Same applies in your case too. If this money is for long term then why to bother about over exposure of equity? Also, do you feel today’s HIGH will remain high for the next 10 years also? Each high and low have their own highs and lows. When we stay in equity for long term then these will not matter to us. What matters to me is how much I got real return (Return on investment-Inflation rate). Rest is left with you 🙂

    • akash

      Dear Sir,
      I am akash; my Qualification is “SSC”, i want to become “LIC AGENT “,
      If i become an LIC AGENT in hyderabad and in case if i move to maharasthra is there any problem ??

      I mean can i continue in maharasthra ??

  75. Senthil

    Hello Sir,

    I am 36 years old and I need your guidance in building my financial career. I am married and have a girl (age 3) and I am the only source of income for my family.

    1. I have LIC bima gold plan with the premium of 10000 rs annually for 16 years (SA 200000) and this is going to end in 2021.

    2. HDFC Tax saver fund in which is ready to withdraw; currently this fund holds Rs. 8500

    3. Invested in NSC in the year of 2015 – 50000

    Please let me know shall I continue the LIC policy and HDFC fund or withdraw it and plan it somewhere else.

    I am married and have a kid (age 3) and I am the source of income for my family.

    I am planning to take pure term plan in a couple of weeks after reading your blog. I have an idea of taking one policy from LIC online eterm (50L)and one from HDFC Click 2 protect plus (50L). The reason behind is to save few thousands and as well as backup plan (In case one company denies at least my family will get 50L from another company. Please suggest me if this is fine.

    I have company medical policy. Do I need to go for one personal medical policy or taking medical policy is unnecessary as the the policies are so complicated when it comes to settlement (covering only this not those diseases replies from companies)

    I don’t have any loans as of now and I am able to invest Rs. 1,50,000 per year. Please suggest me how to to plan my future financial needs.

    • Basavaraj Tonagatti

      Senthil-First try to come out of LIC plan. HDFC Tax Saver is good for tax saving. But do remember that it must be for long term. Splitting of term insurance is your comfort. But to me I prefer one only. Better to have your own health insurance also. Regarding rest of plans, I have no clue. Because not sure about your goals and details.

  76. umar

    Hi Basavaraj,

    I’m an IT professional. I have parents, dad who is doctor just got retired & home maker mother. I’m looking for an independent/unbiased financial planner who will help me in systematic investment of mine & dad’s income for future goals & proper health insurance.
    Is there any way I can get connected with you or you can help me in finding CFP like you who can help me in this.(Person-to-person meeting)

  77. Venkateswara Rao K

    Hi,

    I took insurance policy in 2004 and paid the premiums for almost 9 years. It is a group of policies, sum insured is around 10 laks with yearly premium is around 33k and I would be getting money back from the age when I attain till 80 years. Due to some financial issues and other knowledge I have on insurance, I stopped paying. I reached our my insurance advisor on surrendering the policy as it been almost 2 years since I paid last premium. He came and saying the bonus declared till is almost 11/2 times of premium paid so far and if I resume my policy, I will get good bonus as these policies have high bonus rate. I am in dilemma now. I am looking for your suggestion. I request you to provide your suggestion.

    Thanks & Regards,

    Venkat K

    • Basavaraj Tonagatti

      Venkateshwara-The bonus delcared may be two times of what you paid. But whether they give it to you now? NO…second this is when you look for long term then this bonus accumulation will not earn interest. So your return diminish in long run. Hence better to come out of this plan.

  78. Hetal Soni

    Dear Sir,

    We are a family of 3 – me, my wife & my daughter with me being the eldest member of 35 years age. I am doing business & my wife has other sources of income like – counselling, teaching etc. Our total family income on an average comes to around Rs.8 Lacs p.a.

    I am planning to buy a Term plan of Rs.1 crore, which is to be split up between me & my wife (e.g. 75 lacs for me & 25 lacs for my wife). Presently, we are having total Insurance of only Rs. 6-7 Lacs for me & my wife both as we have been investing in ULIPs till now for which we have already completed the minimum policy premium paying term. So now we plan to have a comprehensive Term plan & do not want to club Life insurance with investments. For this, I am keen to go for EDELWEISS TOKIO LIFE since it covers till 80 years of age so the chances of getting a Death Benefit increases & also the premiums are competitive. My second choice would be AEGON RELIGARE but it covers only till 75 years of age but has one the most competitive premiums.

    Also, we are planning to a buy a good Family Floater Health Insurance plan with a total Sum Insured of around Rs.10-15 Lacs. This SI can be arrived after accumulating No-Claim Bonuses & other benefits as are prevailing in the market. (e.g. Base SI of Rs.5 Lacs + NCB of 100% SI after 5 years etc). We have also been reviewing a package of basic Insurance policy & a Top-up plan since the premium for Top-up plan is very cheap esp L&T (e,g, a Basic Insurance of MAX BUPA of Rs.2 Lacs + L&T Super Top-up plan of SI 12 Lacs with Rs.3 Lacs deductible OR CIGNATTK + Top-up OR RELIGARE + Top-up etc). However, we are concerned if mixing of 2 or more insurers may complicate the claim process. We are not having any kind of medical conditions till now. Also, currently we are having a negligible insurance of only Rs.1 Lacs total.

    Thus, I hereby seek your expert guidance as to which Insurers & Plans to choose with a reliable name & with competitive premiums.

    Thanks & regards,
    Hetal Soni

    • Basavaraj Tonagatti

      Hetal-Buy insurance based on the income range (at least 15-20 times of yearly income of an individual). I don’t think insurance required post your working age. Also what will be the value of Rs.1 Cr when you reach 80 Yrs of age or say 70 Yrs of age? So restrict your policy period to 65 Yrs maximum. No need to split health insurance.

      • Hetal Soni

        Thanks for your prompt reply; however I would be thankful if you can advice me about the right Insurers with competitive premiums for both Term & Health Insurance as per my requirement and also the optimum Health Insurance amount (Sum Insured) for me.

  79. Rajesh

    I have a PPF account which was extended for a period of 5 years before I became NRI. I am closing it this year as 5 year extension period is ending in March 2015 and can’t extend it further, being NRI. I am claiming income tax rebate on the amount invested in my PPF account. I can’t claim for rebate on PPF investment from next year as I have to close my account. However, my wife who is also NRI had opened PPF account before 4 years prior to getting her NRI status. She is NRI now. She is a House wife and do not have her own income. Can I as NRI invest Rs. 1,50.000/- year in her PPF account until another 11 years and claim income tax rebate on my income earned in India.

  80. A M Chandrashekhar

    hello basavaraj,
    I need to save 90K this financial year, i planed to go for ELSS, to invest lumpsum(not SIP) say 20K+20K+20K+10K+10K+10K in different ELSS funds.
    Please suggest me best performing as well as NFO ELSS schemes to invest. I want your analysis on best performing V/s NFO schemes.

    • Basavaraj Tonagatti

      Chandrashekhar-Why Rs.90,000 in ELSS? Whether the basic things like term insurance, health insurance and accidental insurance are at place? Also do you feel your investment will be diversified if you choose 10 funds instead of one fund? Do you feel NFOs BEST to invest when we have so many existing funds?

  81. Satish Kumar

    Hi,
    I’m retired from government job and seeking for some investment or pension plan.
    I’ve approx 20-25 lacs.
    Could you please guide me where to invest the money.

    Thanks.
    Satish

  82. Manikanta

    UAN is allotted for my old pf account number. Now i changed the company new pf account number is created and they said like it is not possible to transfer my old pf to new pf account. In this case is it is possible to withdrawal my old pf acccout(UAN is allotted for this account).

    Thanks in Advance

  83. Nitin

    Hello,

    I am having some questions related to monthly investment, as I am salaried employee. I dont want a investment become liability for lifetime.
    I planned something, please check it and suggest me what should I do. May I go on with it or you have some better options.

    PPF : 3000 per months
    RD Account : 3000 per month (For a 12 Months)
    LIC : 1050 Monthly (16 years)

    Once RD Account matured on year then I will transfer all amount to NSC for 10 years.

    This will do for 10 years on regular basis.

    So, this is my plan.

    Welcome your suggestions.

    Regards
    Nitin

  84. sandeep

    Hello Sir
    You are doing a great work..and hope you know that I am already a regular follower of your blog..

    Have one suggestion – the ‘like it on facebook’ keeps on prompting in between..it is good for a cause, but sometimes it is annoying as it prompts for every article we open and for every comment we want to add..
    So, a humble request to you, please reduce this prompt and please don’t get me wrong..:)

    Thanks
    Sandeep

      • Rajan

        Dear Base Sir,
        Thank you for your financial guidance here.
        I am NRI I can able to invest 1 lac every month in SIP.
        This is first time. So my doubts are here.
        1. Is it safe to invest in SIP?
        2. If risks are there shall I put 50k into RD?
        3. I would like to invest only for 7 years in SIP is it possible?
        4. I am moderate risk so could you please pick SIP for me either 50 or 1 lac per month.
        5. I need this after 7 years for my children education purpose. Kindly help me whether I can go full 1 lac investment in SIP or only 50% in SIP or any other method?
        6. I have 5 lacs cash shall I invest FD? since I am NRI no tax. Or could you please guide me the good investment of this 5 lacs.
        Thank you for your kind help

  85. Dnyaneshwar Gongle

    Dear Basvaraj,

    Your blog is really helpful and informative…..I could get all requaired details related to PF from this blog.

      • Sarath

        Dear Sir,

        One of my Friend has filed the IT return with a wrong details. He has wrongly entered the PF deducted amount as Tax deduction. He has send the ITR V to the bangalore office too. Will the Tax officials correct themselves or he need to refile it? What if he is not filing, will they return only the returnable amount as per tax deduction or what happens? Please help

  86. Prasanjeet

    Hi Basavaraj,
    I do read your blogs and i must say you are doing a great job.
    I have two question, i want to invest in debt fund with a time horizon of 1-2 and 2-3 years.
    Please suggest me a strategy considering the fact that there might be a rate cut soon.
    I need this fund for some real estate commitment which i have in 2016 and around 2017-18 time frame,

    regards

  87. dutga prasad

    sir I am PSU bank clerk. I earn 15000 per month. I can invest up to 10000 per month. I would like sip this 10000 in 3 or 4 mutual funds. I am a moderate risk taker. my age is 23 years. my investment tenure would be 3 to 5 years. please suggest some mutual funds for me. thanks in advance.

  88. Venkatesh

    Hi Sir,

    I want to invest Rs.2000/- per every month in SIP. Can you suggest good plan ? If the plan includes tax benefits, it will helps to me.

    Thanks,
    Venkatesh

  89. Kumar

    Sir,

    I want to invest Rs 50,000 -one time -chosen ICICI PRU BLUE CHIP FOCUSSED FUND

    Also I want to start SIP Rs 15,000 /month for 15 years .

    1.Rs 5000 – ICICI focused blue chip fund
    2.Rs 5000 -HDFC mid cap opportunities fund
    3.Rs 5000 – TATA balanced fund .

    Kindly advise whether this is wise or any modification needed .

    Also confirm whether I will be free from paying Tax for all the above ?

    Thanks ,
    Kumar

  90. Nayaj

    Dear Sir,

    Myself Nayaj 37 years old NRI….. I will retire from my job within next 10-15 years. So far I don’t have that much saving.
    Can you please advise a good Pension Plan which I can start now.

    Nayaj.
    Dubai

  91. Anish

    Hi Basavaraj,

    Can you tell if the mutual fund companies can charge any penalty if I redeem the policy before maturity date ?

    I invested 50k rs in sbi tax advantage scheme in 2008 and maturity is in 2018 but would like to know much they charge if I foreclose

    Regards
    A

    • Basavaraj Tonagatti

      Anish-In mutual funds there is no such thing called PENALTY. But schemes charge exit load in case of early withdrawal. This exit load depends on fund. So there will be some exit load. But I am not sure about the exit load of your fund. Please check the scheme document for the same.

      • Vijay

        Hello sir,

        I’m completely new to these kind of investments,

        I have invested only in LIC so far with two policies as mentioned below,

        1) 75486 /- per Annum New Beema gold T.No.179 2) 109390/- per Annum – Mix of Endowment policy

        Could you please advise me whether should i continue both of these policies or should i close one of these and invest in Mutual funds.

        I’m interested in some investments with low risk and moderate returns, looking at investments for about 10 yr plan,

        Thanks a bunch.

  92. Shrikant

    Hello, Basu,

    As of now my SIP inivestments are in the following:
    HDFC TOP 200 fund
    HDFC equity fund
    HDFC long term advantage fund
    DSP black rock
    Franklin India top 100 fund

    I want to start a new fund of Rs: 5000- to 10000 per month SIP with maximum returns.

    Can you please suggste two best funds for me.

    Thanks and Regards,
    Shrikant

      • Shrikant

        Basu, Thanks for the reply.

        I was not having much idea and exposure when I started investing and hence I invested in all HDFC funds from last 6-7 years. This I am looking for my retirement benefits and son’s education. My son is 4 years now.

        Started DSP black rock and Franklin india prima plus on my wife’s name recently around 2 years back.

        My total investment in mutual fund is Rs.50000 per month.

        I do not own a house in Bangalore and would like to buy one down the line and for any down payments I am thinking of 3-5 year term for a new mutual fund with good returns.

        So please advise for new mutual fund or other investment.

        Thanks and Regards,
        Shrikant

        • Basavaraj Tonagatti

          Shrikant-My serious suggestion is to come out of all equity mutual funds (irrespective of performance of fund). Because you are claiming that your goal period is 3-5 years. So equity is not suitable for such short term goals.

          • Shrikant

            Hello, Basu,

            Thanks again for the reply.

            Not to mistake me, for my current HDFC mutual funds, I am looking for long term investment (20+ years).

            For short term of 3-5 years, what I mean is that, I want start a new investment for around 5-8 years giving good returns.

            So, please do suggest plans for either in mutual fund or any other portfolio.

            Regards,
            Shrikant

  94. Sumedh

    Hi Sir,

    I have taken term plan from ICICI (icici protect) in 2010 for SA 5000000/- for prem 6011, now i feel that SA is less & i should opt for 1 cr so i checked icici site for same plan (with accidental coverage of 50 lacs) it now cost me 14000 (BTW i’m 31 years now) also i check same in LIC website it shows premium for 1 cr is 20500/- so i do have 2 questions

    1) Should i really increase my SA (I think in future 50 lacs will be not adequate)
    2) I preferred LIC because its claim settlement ratio is highest but premium is high so should i go for lic or opt for ICICI plan?

    Please share your valuable suggestion

    Regards
    Sumedh

    • Basavaraj Tonagatti

      Sumedh-Buying insurance today and forgetting about it is not a wise idea. You need to review your insurance need once in a 5 years. So you need to increase your insurance coverage based on income, liability and dependency. Choosing insurance between LIC or ICICI depends on your choice. For me both are equally good and bad.

  95. rajesh

    Dear Sir, I have recently taken an e SBI Life policy which is under free look up period,

    I have answered various questions honestly said yes to alcohol consumption and said no to question on taking part in adventurous sports as hobby . would like to know following.

    If one consumes alcohol and is sitting as a passenger and meets with accident and dies , will the claim be paid

    also while on vacation you do some adventure sport like water sport or para glyding or trolley ride etc and unfortunately one meets with accident and dies. will then the claim payable keeping in mind you have answered that you do not indulge in risky or adventure sports while filling questions.

    Thanks

    • Basavaraj Tonagatti

      Rajesh-If you consumed and sitting as passenger and met with accidental death then it is not considered as death due to consuming but due to accident. If even you participate in any such adventures during your free time too, you need to mention it while buying.

  96. Sajal Kumar

    Dear Sir,

    I am 26 yrs. old and just 1.5 yrs back started my career. Currently, I have no saving, but I save 15000/p.m from next month. How and where to invest my money to save good amount for future(mainly after 15 yrs.). Please suggest me.

    Regards,
    Sajal.

  97. Jyoti Prakash

    Sir , Following are my Financial details . Pls suggest if I need more term plan / accidental insurance / personal medical insurance

    age 51
    Spouse working
    Total annual income 24 lacs
    Own House 1.75 cr (30 lacs under loan)
    2nd House 2 cr (45 lacs under loan)
    Other investments current value 40 lacs
    Term Plan 42 lacs
    Medical cover by employer 10 lacs
    Accident cover Nil
    2 children aged 20 (F) 15 (M)

    If need be which Term plan should I go for

    Thanks

    • Basavaraj Tonagatti

      Jyoti-First cover your existing liabilities with insurance along with that you need to include current values of future financial goals. Along with that buy accidental insurance and health insurance too. There are no different types of term plans. So buy it online based on your comfort with company, feature and budget.

  98. Rahul Gupta

    Sir, Please suggest me which plan i have to choose ULIP / Pension. Right now i am looking for AVIVA I-Growth plan but simultaneously looking for pension plan as well please help me out.

    • Basavaraj Tonagatti

      Rahul-There is no such retirement plan which I say best. So best option is to create your own retirement corpus by investing in products based on the time frame left for retirement. Never run behind these pension policies.

        • Basavaraj Tonagatti

          Rahul-If you feel that it suites then go ahead. But how you have opted this plan? Have you checked their past performance? Hard part of ULIPs is checking fund performance. Hence I am strict believer of separating investment with insurance. Rest is left with you.

          • Rahul Gupta

            Yes i have review the pas performance, returns are good. Else requesting you suggest me where i can invest for good returns + tax saving. I can invest 35K Annaul.

  99. Inder Pal

    Dear Sir,

    I am 50 years old with working spouse. My monthly income (including my spouse’s) is 1.55 lacs (approx) and living in a own house valued 1.50 cr under loan of 30 lacs.

    My other investment in real estate is approx 1.75 cr but all under construction and with outstanding loan of another 50 lacs. With total outflow on EMI’s for Rs 73000 I have a term plan for 40 lacs.

    Do I need more term plan . If yes for how much ? Pls advise

    Thanks

  100. RAJASHEKAR T

    Dear Basavaraj
    Recently I got around 9.5 lakhs by way of maturity of my PPF .Though i wanted to be invested in PPF , I have forgot to renew the account and the bank has sent me the cheque closing the account.
    Please suggest some long term , low risk and tax free investment options. My age is 51 years.
    Rajashekar

    • Basavaraj Tonagatti

      Rajashekar-How much is long term in your view, what current investment you are having, how your income and expenditure are balanced and do you have any specific goal attached to it?

      • RAJASHEKAR T

        Long term is 10 years in my view. I have another 15 lakhs investment in mutual funds, I am a govt . employee and have an annual income of 11 lakhs. My expenses are around 6 lakhs . Post retirement i would get pension from Govt,. My goal for the investment is retirement fund from which i expect regular returns after 10 years.
        Rajashekar T

  101. MOhan

    Hi,
    I am 34 in obesity category and i like to take a term insurance ASAP . 50 lakh+ .. could u recommend which one can be better ,
    Though of LIC , HDFC , Ageon religare .. which one is reliable ?.. you can suggest other too

    • Basavaraj Tonagatti

      Mohan-I think LIC is very much strict but if you don’t have any problem in paying higher premium then you can go ahead. At the same time HDFC will do up to Rs.75 lakhs without medical, which I will not recommend to you. Why can’t you go with LIC (if ready to pay high premium), SBI or ICICI.

      • MOhan

        Thanks Basavaraj,

        if HDFC if with not medical – why cant i go with that.
        I was planning with LIC . on the assumption and trust that they give back the money if something bad happens. i read your articles and felt that LIC has more % in returning back

        • Basavaraj Tonagatti

          Mohan-What if they (HDFC) raise some issue after death due to ailment. There is every possibility that they may say you have not disclosed such ailments during buying. So going for term insurance without any proper scrutiny from insurer is more dangerous. They have all rights reserved to reject your claim. If LIC online term plan is affordable for you then go ahead.

  102. Ravi

    Hello Sir,
    I downloaded “ITR2 Excel Utility” from http://incometaxindiaefiling.gov.in/
    I want to know in which work sheet I can declare the following in ITR2??
    1) Gratuity amount that I received
    2) Leave encashment amount that I received

    Other questions:
    1) I resigned from my previous empolyer in Feb2014. I joined in another company in May2014.
    So I didn’t receive HRA for Mar2014 from my previous employer.
    My flat rent is Rs. 15000.Now how to claim this rent amount that I paid to my house owner?
    2) I didn’t claim LTA exemption from my previous employer. I received balance LTA amount after TDS deduction.
    How to claim exemption for entire LTA amount in ITR2??

    Thank you sir,

  103. Praveen

    Hi Basu,

    I am of the age 38,Please suggest any good term plan which I can buy online,Also let me know if buying term plan online without medical test is an issue?

    Regards
    Praveen

  104. SONAL

    Dear Basu,
    I have THREE questions:
    1) 1 year ago I switch a job from Banglore to pune, I put request to transfer my EPF balance to my new company, But currently when download my e-EPF passbook, its showing the entries of my current orgnisation only, How come I will get to know where transfred money exactly is?
    2) Is it good if I withdraw money from EPF and put it in PPF ?
    3) How my nominee can claim my EPF amount after me?

    Thanks in advance

  105. Sanal C. K.

    Dear Basu Nivesh

    Thank you for this excellent initiative. Really helpful for guys like me having a lot of confusion about financial planning.

    I am 31 years old and my wife is 30. We have the following Life Insurance policies for which we are paying a premium of around 1 lakh/annum. Plz advice us whether we need to make any changes here. Also we are planning to invest in SIP for an amount of 6500 per annum. Plz suggest us the right portfolio mix.

    Mine:
    Birla Sunlife Flexi Cash Flow 2003 – Term 15 Premium 2599/quarter
    LIC New Bheema Gold – for 5 lakhs with premium 6281/quarter started in 2007
    LIC New Money back -for 1 lakh with premium 5185/annum – 25 years started in 2004
    HDFC SL Crest – Premium : 50,000 per annum for 5 years Term : 10 yrs
    Wife’s:
    Jeevan Anand for 3 lakhs started in 2010 with premium 3214/quarter, Policy term 73 (premium payment : 25)

    Both of us have ICICI Lombard Health insurance through our employers. Our total income is around 10 lakhs/annum, expenses is around 40000/month and only investment currently is FD of 5 lakhs, RD of 4000/month & Chits of 15000/month

    • Basavaraj Tonagatti

      Sanal-Your all current life insurance plans are not pure insurance but combination of insurance+investment. The ideal cover should be around 15 times of your yearly income. So my first suggestion is to come out of existing worst products one by one as and when they are eligible for so. Immediately buy the online term insurance of your choice. Even though health insurance is provided by your employer, bust still have your own insurance. Buy accidental insurance and create around 6 months household expenses as emergency. If all these things are set right then we discuss about investing (which is again based on your financial goals but not your agents 🙂 ).

  106. Sujata

    Dear Sir,
    Myself sujata, Me and my husbaband took a joint loan from HDFC of 45 Lac, we have paid 30K on Home registration fee, plus VAT of 208000 this agreement is happen in 28 march 2013, Can I clam this amoumt for tax exumption this year slab 2014-15?

  107. samir

    Hi . I want to buy health insurance –family floater plan. can you guide me from which company I can buy the plan

  108. veeresh Matur

    Hi, Tonagatti how are you? And today, i have seen ur basunivesh.com. plz send ur mobile no,bcoz i want talk with you.

  109. mannu

    Kindly send me ur email id on virk441@gmail.com or on 9988836355, i would send you my details and requirements for investment and retirement planning. i shall be very thankful, if u could help me. i am very new to Mutual funds. tnx

  111. ashish tiwari

    Sir,
    addition to previous mail i want to know that during investment in MF is any income tax i need to pay .
    please give some idea.

    thanking you

  112. Puneet

    Hi Basu,

    I have recenty started reading your posts and found them very informative. I have few Qs and appreciate if you can answer:
    1. I am 36 and have a term insurance of Rs 1 Cr from HDFC Life (Click2Protect) which i started last year. Now, the premium amout of approx Rs 13500 is due this year. Shoud i continue with the same or explore market to see if i can get better coverage in same premum amount or same coverage (of Rs 1 Cr) with lesser premium. In general, i wanted to understand if its recommended to continue with same term insurance plan year after year or one should keep exploring market to look for better deal & keep switching insurance provider.

    2. I don’t have any rider on top of my term insurance and i wanted to add few this year. What are the best options?

    3. I have medical insurance from my employer for me & my family but i was thinking to take additional medical cover.
    a) How to choose the most optimum medical insurance & what points one must consider before buying medical insurance?
    b) If i have medical insrance from more than one company, can i use both of them together if needed or i can use one at a time. For example: Consider, i have hospitalization cover from 2 medical insurance with a limit of Rs 5 Lac each from each insurance company. That means my hospitalization cover limit is now Rs 10 Lac which can be claimed during hospitalization and i can intimate hospital to give me cashless service mentioning my 2 insurances. Is this understanding correct?
    sorry.. my Qs may sound too naive but i dont have much knowledge about medical insurance

    //BR
    Puneet

    • Basavaraj Tonagatti

      Puneet- 1) Exploring is good idea. But keep in mind the word “Early Claim”. Suppose you start a new one which is cheaper or providing you higher SA with lesser or equal to current SA and if (sorry to say) death occurs during this “Early Claim” period then new company may scrutinize the claim thoroughly. Instead if you continue the existing policy and that period once over then no company will do long research on your death. So anyhow it is at competitive rate with good company. So my suggestion is to continue.
      2) You need critical illness and accidental insurance as riders. But in my view buy them separately as they offer few more features which you can’t have them with adding riders.
      3) Health insurance is bit complicated product. So I can’t say like term insurance that you buy any single product. It first involves your need. But I suggest you to have your own health plan than depending on employer health insurance.

      • Puneet

        thanks Basu for your reply..
        yeah.. you are right. Health insurance does sound complicated. Here’s my scenario:
        I have family health insurance (of Rs 5 lac) from my company that includes my wife and kid. My wife also has family health insurance (of Rs 5 lac) from her employer and that includes me & my son. So, does that mean as a family we have cover of Rs 10 Lac?? In the event of any hospitalization of any family member, we can first use my insurance and then if its exhausted , use insurance cover from my wife’s company. Technically is it possible or is there any catch wherein we can use one cover at a time. Pls help me understand.
        Thanks

        //Puneet

  113. Rahul Gupta

    Dear Basu,

    Looking for the retirement plan.

    rightnow i have BSLI VISION & LIC JEEVEN SARAL.

        • Basavaraj Tonagatti

          Rahul-Detailed required are as below.
          1) Your age
          2) Expected retirement age
          3) Life expectancy
          4) Current household expenses
          5) Current investment details related retirement goal and others
          6) Your current style of investment
          7) Need to analyze your risk taking ability
          8) Need your insurance and all other emergency plannings

          List is big…is it possible to share all details?

  115. Arup

    Hi Basavaraj-
    It’s nice to find you sharing awareness and directing people for betterment.

    I an 27, and been investing in PPF for last 2 years say about 70k p.a. I came across a post from you where you suggested a person to channelize the saving. So, I am planning to opt for New Jeevan Anand(Term-16 years, Maturity-16L, Insured- 5L). Just wanted to hear from you if this will be a good move or you can suggest me something better.

    Thanks,
    Arup

            • mannu

              Hi, sir it was v good to read ur blog on various investment points. Im very new to MF, but eager to make a start pls guide me if u can. My details age 33 yrs, amount rs 4000 as SIP in MF. Period 15 yrs + Pls let me the best way n funds.Tnx

              • Basavaraj Tonagatti

                Mannu-First-Do you have enough life insurance (Term Insurance of around 15 times of your yearly income), health insurance and accidental insurance in place? Have you enough cash at your reachable for at least of around 6 months household expense? If all these are in place then we start for investment. Let me know your views too.

  116. Surojit Mondal

    I have subscribed to a policy from LIC Jeevan Anand at a premium of 50000/- per annum for 21 years. I have already paid for 3 years but now I want to discontinue it. Please suggest me what to do and whether it is good to surrender.

      • Arpit

        Dear Basavraj, I have the same problem like Surojit, please suggest me what to do.

        I have a 25 year policy jeevan anand with a premium of 41300 per annum with 10,00,000 SA.

        What will be my value in return after 25 years including all bonus (tentative figure).

        Should I continue this..?? or where should I invest this money to see higher return.

        Regards
        Arpit

        • Basavaraj Tonagatti

          Arpit-It is better to pay the penalty for your ignorance (surrendering after 3 years and getting about lesser) than committing the same mistake for the rest of your life.

  117. Bishan K Seal

    Hi, I have been reading your articles quite often, but did not write to you in view of non availablity of any surplus which requires your advice for proper investment. However post July 2014, I would have substantial surplus and I would require your professional help in cachiving my goals. Grateful if you mail me your details and charges so that I an avail your advice.

  118. shrini

    Dear Basavaraj,

    I was working in an organization where opted for Super Annuation Scheme. Now I left the organization.

    I have contributed to the scheme for More than 5 years.

    When I asked my finance department they informed me I can withdraw 1/3 Tax free and remaining has to be invested in Annuity scheme.

    I don’t want to invest in immediate annuity.

    Please let me know whether any deferred annuity schemes available currently.

    Regards,

    Shrini

      • shrini

        Hi Basavaraj,

        Thanks for quick response

        My Previous employer asked me to open the annuity account in lic/HDFC .

        But when was searching in the net am unable to find deferred annuity schemes which are suited for Corporate Super Annuation.

        As far as I know we can’t transfer the Corporate Super Annuation Corpus to NPS.

        Regards,

        Shrini

        • Basavaraj Tonagatti

          Shrini-Then in that case you have options of immediate annuity only. Because as of now there is no deferred annuity plan from LIC but HDFC offers some retirement plans. If you are eager then go ahead.

  119. RAJESH BHOJANNAVAR

    Hi Basavaraj,

    Can you please advise Pros & Cons of below investments, Which one is better & why
    1) Reliance My Gold Plan
    2) Bullion India Systematic plan.

    Thanks

  120. Abhishek Srivastava

    Sir i m investing monthly Rs.1000/ each through SIP in HDFC-200 fund & Reliance Equity Opportunities Fund. Can i continue with this for long term. Let me know can i add some more fund in my portfolio or invest in any other financial product.

    • Basavaraj Tonagatti

      Abhishek-You can continue in same funds. But adding more fund of same category is not good. Instead you can choose the other category funds and start your fresh investment. Also choosing other financial product or even these products depends on when you need money. So without knowing your requirement I am unable to guide you.

  122. Anil Patil

    Dear sir

    I had one query and I need your guidance as well.

    I had my PPF a/c under HUF and the same was matured as on 31.03.14 . I know it canot be extended. My Question is ,
    1. Can I keep my fund in the same a/c and bank will pay me the interest as per their norms till I with draw.( which is tax free income).
    2. If I withdraw & put this amount in Bank FD then the income will be taxable ?
    3. In view of this I thought I accept option no 1 . Pl confirm it is correct or guide me .

    Regards

    Anil Patil

    • Basavaraj Tonagatti

      Anil-Once the account closes then they no longer credit you the interest. So no need to continue. Income from PPF is tax exempted. Hence no need to worry on that part. I hope I guided your all doubts.

  123. kaustubh

    Dear Basavraj,
    Thanks for spreading knowledge & sense for investment to the common public like me.
    I have 10 LIC policies; one of which is Term Insurance (25 Lacs/35 years Premium Rs. 11000/-)
    Total Life cover excluding Term Policy will be – 8 Lacs with Annual Premium Rs. 38500/-

    Getting info from you & others, I want to stop paying premiums but my problem is I have taken maximum available loan on each policy last year. Should it possible to surrender or paid up that policies with minimum loss ? Will give you exact details pl send your email pl.

    Thanks in advance
    Kaustubh, Pune.

  124. shankar selvaraj

    Hi Basavaraj,

    I am 36 year old and needed guidance on making changes to my existing financial investments.

    1. FD-7 Lacs
    2. PPF – Started 5 years back and currently investing 20-30K per year (1,00,000)
    3. Spouse PPF – Started 8 years back and currently investing 10k- 20k per year (150000)
    3. Flat – Valued 65 Lacs (No Loan)
    4. EPF company deducted – 7 Lacs as of today
    5. Child Plan – SBI Smart scholar – 50k yearly
    6. Health Insuarnce from Company – 3 Lacs floating
    7. Gratuity – 2 Lacs as of today
    8. NSC – 20k

    Any suggestions? Thanks in advance

    Regards,
    Shankar

    • Basavaraj Tonagatti

      Shankar-Major thing missing here is Term Insurance, Health Insurance (your own but not employer’s) and Accidental insurance. Majority of your networth is towards real estate and debt products (PPF, EPF, FDs, NSC). So think twice whether such debt instruments will at least beat the inflation in long run? Also to me it seems that you just go on investing whatever surplus you have in these debt products. Instead my suggestion is to first understand your goals then based on that choose products and start investing.

      • Shankar Selvaraj

        Thank you for your advice. Really appreciate your efforts for creating this blog.

  125. Sri

    Hello Mr. Basavaraj Tonagatti,

    I have invested in many LIC policies in the past years and recently (Dec 2013) invested a huge amount on Qtly basis in Jeevan anand Retire & Enjoy policies. So far I have paid 2 installments and only today I had an opportunity to go through your blog. Now after going through your articles, I am little shocked to know that LIC is not the best option for investments. I would like to contact you to discuss about this and do the right thing in this regard. I am willing to share my information to you and need your email & contact number for that. Kindly email me the details and I will call you at your convenient time to discuss.

    Thank you.

  126. S Senthil Kumar

    Sir,

    My age is 45 and wife is at 37. Now I have jeevan anand policy only which will mature in 2014. Sum assured in Rs.2 lakhs only. Now, I’m willing to pay further Rs.25,000 as quarterly premium. We have no children now. Considering our age, Please suggest us suitable polices which we may take for our future.

    Thanks in advance.

    • Basavaraj Tonagatti

      S Senthil-Instead of running behind these policies. First buy a term insurance for your life to the tune of 15-20 times of your yearly income. Rest invest in a product which suites your goal. So my only insurance product recommendation is TERM INSURANCE.

  127. shastry

    hi,
    my health condition is so so due to congenital defects. open heart surgory to close hole in heart in 1998,cholestaral normal with tablers, partial deafness using hearing aids and mild essential tremours in legs/hands.having excellant life style and no bad habits. pure egitarian

    so buying insurance is challenge for me. inspite of that bought one crore each from kotak,aegon religere and tata aia for total 61k annual premium for 3 crores cover with full disclosure of facts. bought health insurance from syndarogya,5 lakhs family flaoter for 7k.
    total 70 lakhs pa with permanent partial/full disability cover from new india with houholders policy with cover for hearing aids!.

    i want to take critical illness policy. which company is agressive in risk taking? is there any group critical illness insurance available like syndarogy or other bankassurance health policies?

    • Basavaraj Tonagatti

      Shastry-First of all sorry hearing about your health issues. I am very impressed that having so many health complications you opted term insurance and health insurance. Critical illness is a bit complicated product which involves so many conditions for claim. I personally not opted for any of critical illness covers. Are you from Karnataka?

  128. Anbu

    Hello,
    I am looking for your suggestion on Planning the SIP for the Wealth creation.
    Kindly revert.
    So that I will share required details to you

    Regards,

  129. Vishwanath

    Hi Basavaraj,
    I want your opinion on IIFL Home Bonds which is opening on March 12. The Ad says the monthly income yielding is going to be 12.68% p. a, money which will double your investment in 6 years.

    Could you please let me know the pros and cons of this bond. Is it secured ?

    Thanks,
    Vishwa

    • Basavaraj Tonagatti

      Vishwanath-I think you have not gone through the product feature fully. They are “unsecured bonds”, means they are promising you to pay that much. But they don’t have current back up or asset which can guarantee you in case of their bankrupt. Because of this risk they offer you high interest rate. Bear in mind that, risk is directly proportional to return.

  130. Narendra

    Hi Basu, It’s been pleasure that your spreading fianancial knowlegde with common people. Now a days people are more aware about there financial problem and how to overcome it. Since from last 6 months I am reading your articles they were more informative and knowlegde based. I need some information regarding Tem Insurance, I tried
    to find out from your old articles but didn’t find anything. Could you write or share any article regarding Term Insurance there pros and cons, which is best product ? etc.

    Thanks in advance.

  131. Mehul Raval

    Good Morning Sir,
    This is to inform you that I am 31 year old. I want to buy 10 lacs Term Plan hence want to know about the LIC’s Jeevan Anmol II Plan. What is the premium for 25 years? and also request you to mention that this plan provide critical riders? I request you to suggest any other plan which provide the critical riders. If possible premium also.

    Thanks,
    mehul

    • Basavaraj Tonagatti

      Mehul-Please let me know how you arrived at SA of Rs.10,00,000. I can share the premium with you now itself. But it is not useful if you are not fully insured. So answer my question and we proceed further. This for your education purpose and there is no other issues.

      • Mehul Raval

        Respected Basu Sir,
        Thanks for prompt reply. At present I am having Jeevan Anand (SA 1,00,000) Plan since 11 years with 21 years tenure. also Jeevan Saral (SA 2,50,000)Since 4 years. At present my mind set is that I want to buy SA of 10 or 15 Lacs (Term Plan) only. I want to increased SA from current SA 3.5 Lacs to 25 Lacs but I need time for it.

        Sir, I also want to know that Is any Term plan policy which provides PA + Critical riders with partial and fully disability covered?.

        With Regards,
        Mehul

        • Basavaraj Tonagatti

          Mehul-I respect your mind set. But at the same time, please understand that buying life insurance now is cheaper for you than buying it after few years. Also think twice whether the SA you are planning to buy is suffice to cover your life risk to the fullest. No need to combine them. You have very cheap critical illness and accidental insurance available at cheap rate by general insurance company. Also this LIC plan will not have any such add on facilities.

  132. shailesh

    Hi Basavraj,

    This is an excellent blogpost and much needed for investment novices like me. Hope you can confirm one of my thoughts. In 2011, I didn’t do enough homework and in a need to get life insurance coverage, I bought a LIC moneyback 20 yrs policy (T.No. 75) with sum assured of 12 lacs and yearly premium of 77,000. Now 4 years later, I feel it was a mistake (duh..) and should have bought a term insurance and invested in mutual funds. I am now thinking of doing away with the policy. Based on a LIC surrender value v/s paid value calculator in http://freefincal.com/insurance-policy-surrender-value-paid-up-value-calculator/ , I am thinking of making my current policy as paid value (4.2 lacs at end of maturity – 16 yrs) rather than surrender. I am 35 yrs old but hoping that I can still get a term insurance at an affordable cost and use ~ 1 lac yearly premium towards more productive instrument.

    Based on your in depth experience, is this a right move?

    Any advise will be highly appreciated

    Regards

    • Basavaraj Tonagatti

      Shailesh-Please let me know the surrender value too (if unable to find out yourself, then contact your nearest LIC branch) then we discuss which is better option for you. Good to know that you decided the surplus amount for investment amount. But at the same time think about your financial goals and start invest based on those. The way you are thinking is in right direction. Go ahead and best of luck 🙂

      • shailesh

        Thanks Basavraj for a prompt response. I actually have paid premium for 3 years and have calculated Guaranteed Surrender Value (30% of premium paid) to Rs 63000 without any vested bonus and with bonus to be ~ 75000 (GSV + 16% of vested bonus). I contacted LIC today but they were strongly discouraging surrendering policy showing all the benefits of moneyback every 5 years. They even said there is no option of making my policy paid value and if I don’t premium policy will lapse & I will loose all the money paid till date. I know that is not true, their website says that if 3 full year premiums have been paid then it will not be void if I choose not to pay premium anymore.
        But could you please confirm if moneyback table 75 does provide an option to convert to paid up policy? Also does the 3 full yearly premium include 1st year premium or not?

        Thanks again for all the advise

        Regards

        • Basavaraj Tonagatti

          Shailesh-I know that this plan is eligible for Surrender. But to check whether this plan is eligible for paid up or not at this stage (when this plan is closed) is getting me more time consuming. Instead, my best suggestion will be to read your bond paper fully. There you will find the details about paid up eligibility. You are right, 3 years should be from the date of issue (means when you first pay the premium). But do remember that your policy must complete 3 years.

  133. Kannan

    Sir,
    I’m started money back policy in the year of May 2008, SA-5,00,000, 20yrs pay term, got 20% survival benifit on May 2013. Want to know my returns (bonus amount) on maturity of my policy (2028). Please reply

  134. Anshu

    Thanks,

    I am new investor and want to secure some money for future concern. My age is 25, I am able to invest around 30k-40k yearly, As of now I take a policy Tata AIA Life MahaLife Gold as of premium appr 19k yearly. But I not satisfy with this plan as I get a return of 20k yearly of the life time. But that money is not useful for any purpose as for future.

    Basically can you please guide me how to plan my investment.

    I want a plan like where a good money return back that is useful. Or loan facility must be available.

    I also contact with policybazar guy..they suggested take a hdfc life sampoorn samridhi insurance.

    • Basavaraj Tonagatti

      Anshu-Do these below basic things first then we discuss about your investment 🙂
      1) Buy online term plan for SA equal to 15 times of your yearly income.
      2) Have a family floater health insurance (even if health insurance is provided by your employer).
      3) Create an emergency fund of at least 6 months of your household expenses.
      When all these are in place then thought investing. Never run behind any plan which combines Insurance+Investment.

  135. Kashyap Mulukutla

    Hi Basavraj,

    Need help in streamlining my LIC policies, kindly provide your contact details please.

    Best Regards

    Kashyap

  136. Parthiv Shah

    Hi Basu !

    IIFL is going to launch the Home Bonds at 12.15% p.a. on 12th December ’13.

    Whats your opinion..is it good to buy ?

    • Basavaraj Tonagatti

      Parthiv-Yield they show as 12.15% but the interest rate is 11.52% also this is taxable. It does not mean that no TDS means no tax. But I need to verify in detail. Also if it matches your financial goal then you can try.

  137. M srinivas

    DEAR sIR,

    Kindly let me know the whixh are the equity MF and other which mutual funds are good to invest in Long term. i need to invest monthly 3000 for my child education and marriage purpose. So kindly mention the nemwe i will invest in those MF,s. and also my e mail id is Invest4futureplans@gmail.com. I want to invest for 15 uears term. my age is 33 now.

    • Basavaraj Tonagatti

      Srinivas-Before proceeding further, do you have enough life risk in place to protect your family? Do you have an emergency fund in place for at least 6 months? Do you have enough family health insurance? Do you have accidental insurance in place? If all are in place then we discuss about your kid’s education cost and investment.

  138. Prashanth

    HI ,
    nice website.
    wanted info about b khata, . was directed by google to your site.
    thanks for the info.
    are you on twitter or llinked in?

  139. Chandan Kumar

    Hi Basavaraj,

    First of all thanks very much for this initiative 🙂 , It really has helped a lot of people as i can see through above comments.

    I also have a doubt regarding LIC-Jeevan Anand.

    =============================================================
    LIC Number : 333503899
    SA : 5 lakhs
    Tenure : 21 Yrs
    Premium : 25,173
    Start Date : 03/11/2012
    ==============================================================

    I have forgot many of the benefit related details those were told by LIC Agent on 03/11/2012.

    As far as i remember following were the details :

    On Completion – Appx 12 Lakhs
    After that – 5 Lakhs on death or else 2.5 Lakhs on my own interest.

    But even the above information is not written anywhere.
    Is there any place where i can at least get this information written?

    Cant it be a case in future that, LIC denies me to pay 5 Lakhs + Interest ( As its uncertain) ?

    I would like you to speak on that (4.6%) interest percentage as well.

    Thanks very much,
    Chandan Kumar
    9911418055

  140. Ganesh Sutar

    Hi Basavraj,

    Just came across your blog on Jeevan Saral LIC policy. You have explained the things very nicely and it makes me to clear all my doubts.

    Best wishes !!!

    Thanks a lot…

  141. Harish

    Sir, IS it safe to buy the gramtana (Govt. Alloted & Registered) site with A Khata.
    this is place is under BBMP, and seller is sure of selling and getting A Khata transfer to Buyer Name. What is your opinion, Pls suggest.

  142. raj k

    nice modification in your blog its looking attractive and clear but for those who are opening this blog in old version of Internet Explosure it getting trouble means we are unable to open in old version may be this is the reason, for new version its ok once you check in old version and rectify the error because most of veiwers are may b use still old version, so try to make available in both version and if any other problem pls try to rectify.

    • Basavaraj Tonagatti

      Raj-Thanks for your appreciation. Please let me know when you faced that problem. Because today my site was down from morning 11 AM to afternoon 5 PM due to some server maintenance from a hosting company. If you tried during this period then it is normal. But if you are facing the same problem now also then please send me the screenshot and the version of explorer you are using to my mail id basavaraj@basunivesh.com. I need to check and work on this.

  143. deepakkumar

    SIR
    I WOULD LIKE TO KNOW WHICH POLICY IS BEST FOR MY CLIENTS WHO WANTS INSURANCE AS WELL AS RETURN. PLEASE SUGGEST ME

  144. SHARMA DURGA

    Sir, I filed my Return for 2013-14 online in May,13.Later,due to some omission I filed Revised Return in July,13.In August, I found that Bank had deducted TDS of Rs.3200 0n Interest of Rs.32000 paid on Auto FD from SB A/C.Now I have deposited the balance tax and have to file 2nd Rev.Return. Sir, kindly advise which Ack. No. I should enter in 2nd Rev.Return. Whether of original filed in May,13 or of 1st Rev.Return filed inJuly,13.Also whether I should send ITR-V of all the three Returns or only of 2nd Rev.Return to Bengaluru as I had not sent ITR-V of original aswell as of 1st Rev.Return so far. SHARMA DURGA

  145. raj k

    OK
    thanks we can manage with only 8 because this only 8 are also more effective if one can understand & try to follow or implement on himself.

  146. rajk

    HELLO
    YES ITS OK RIGHT NOW.
    your blog its attracted me like Its became necessary to visit daily 5-6 times, if I missed even single day it look ockward to me like something I missed today.
    since past days after your POA post till today I couldnt found no new post& in between your blog maintanence so I think these week not so interesting gone,though we are in await of new post to here from you. because daily one dose is required for refressing our mind.

    Thank you.

    • Basavaraj Tonagatti

      Rajik-Thanks for your supportive words and the faith you showed on my knowledge sharing. For your information I maintain the post numbers monthly 8. So based on that I write. But sometime due to some other priorities you may find around 6-7 days gap but the monthly posts will be 8 sure 🙂

  147. raj k

    Hello Sir,

    may be at present your blog is in under maintenance,when we are trying to open its not properly oppening, a complete blue screen is becoming blue in color & nor it showing option to various action button Ex Home page, or new article etc,

    • Basavaraj Tonagatti

      Raj-Yes at that time I was running some tests. So it might have showed like that. Just try it now. It is working fine.

  149. Siva

    Thank you very much for your advice.Can you please suggest me some online term plan.My goal is to purchase a house and should be sufficient for the future like child education etc. Because as i don’t have money i am unable to get the education i want.Also does the insurance will be covered for me in the term plans ?Please Help

    • Basavaraj Tonagatti

      Siva-When you search for an online term plan then you will find plenty of them with competitive pricing. Select based on your comfort to price and insurance companies. In my view better to go with HDFC or ICICI product as they have maintained a good claim settlement ratio too. Term plan will cover your life risk, means suppose something happens to you then your nominee will receive the insured sum assured.

  150. Siva

    Hi Sir,

    There is no specific reason to take these policies.. Am from a Poor family and want some returns in my middle age.I am 24 when i took the below policies.My LIC agent told about this policies..But after i read your blog i am confused. Please advice me.

    I got two LIC policies which were taken on 08-02-2011
    1)LIC Jeevan anand for 25 years Sum assured 5 Lac ..Monthly..and premium paid till date correctly Monthly premium 1736
    2)LIC Beema Gold 16 Yrs Sum Assured 1 Lac Monthly premium -436

    Shall i continue to pay the premiums or advice me on the further action.

    • Basavaraj Tonagatti

      Siva-It is extremely hurting to know that all your investments are in low yielding products and without proper planning. I request you to complete 3 policy years. Surrendering them immediately. At the same time, cover your life risk to the tune of 10-12 times of your yearly income by taking online term plan. Rest invests according to your financial goals.

    • Basavaraj Tonagatti

      Santosh-Pleasure 🙂 Hope you spread about this blog with your friends and relatives.

  152. K N Ramachander

    Mr. Srinivas,Deccan Herald of 9th june,2013,on page no one reads
    Tycoons to rule Electronic city.
    This aE City gets the status of Industrial township .
    Does this mean that B B M P has no control over ths admistration,including imposing AKRAMA SAKRAMA bill?
    Can this authrity impose the same Akram sakrama Bill and regularise the plts in Neeladri Nagar.
    I will be thankful to receive your reply
    Thanks & regards,
    K N Ramachander Sastry
    R V RoaD, BANGALORE 560 004

    • BasuNivesh

      Deepak-In E-Gold their is no varieties. It is only one plan of investment. You need to have separate demat account to trade in E-Gold (apart from your usual equity or commodity demat account). For full details visit National Spot Exchange website.

  154. rajk

    Dear sir, I would like to know If we have any new querry,then where should we place our comments in our blog such that its convenient to you read and reply as soon as possible. for example if I post ane new querry in any old articles comment section then their is possibilities of ignoring by you, and we are in awaiting for your repply.
    and let me know about few points regarding E-Gold, is it right to invest in this according to current market sitution.or still their will be any price correction in comming future.

    • BasuNivesh

      Rajik-Don’t worry, it will reflect to me and reply soon. I am also planning to start separate section where readers can post their doubts which may sometimes not relevant to any articles but they have doubt. Gold is in down trend so better to some more time and start investing. E-Gold is the best option and cheapest too. So go ahead. May I know which comment was unanswered by me?

  155. Deepak

    Hello Mr Basu,

    i have some doubt on term insurance plans, everyday i could see a lot of advt and I need to invest in term plans, i am 41 years old now and my LIC plan matured last month, so i need to divert the amount in term plan – please help me out in choosing the plan, how to calculate the return and which term plan is suitable for me at this age.

    Regards
    Deepak

    • BasuNivesh

      Deepak-What you got by purchasing plan with LIC is called Insurance+Investment plans. Where your paid premium will be taken out for giving some life risk to you and rest will be invested. But term plans are pure life risk plans. Their will be no return if policy holder’s death not occurs during the term of policy. If death occurs during the term of the plan then the whole opted Sum Assured will be payable to hi/her nominee. That’s is the reason they are very cheap for example for the age of 25 yr old person and if he want to opt for the the life risk of around Rs.50,00,000 then generally it will not cost you more than Rs.6,000 per year. So his actual insurance need are fulfilled now the with the rest of his investable surplus he can easily divert his investments based on his financial goals. That is why it is better not to indulge your insurance need with investment need. Hope you understood the features of term plans. If still doubts then let me know.

  156. KAUSHAL

    DEAR MR.BASAVARAJ.
    I AM KAUSHAL PATEL AND I’M BAFFLED AMONG ALL AVAILABLE PLANS FOR CHILD AND PENSION PLANS.CURRENTLY MY PLANNING IS TO INVEST AROUND 15K MONTHLY KINDLY SUGGEST THE BEST PLAN IN TERMS OF RETURNS ALSO PL. GUIDE WHETHER PPF IS BETTER OR THE LIC AND OTHER PLANS.MY CURRENT AGE IS 36 AND MY CHILD AGE IS 8YRS.
    THANKS AND REGARDS:
    KAUSHAL.

    • BasuNivesh

      Kushal-When you are planning for your kid’s future and pension, my humble request is not to mix insurance products with your investment goal. First take term insurance online to the tune of 10-12 times of your yearly income. Once you do that leave the life insurance part completely out of your investment portfolio. Considering your kid’s current age (8yrs) you have left to plan for higher education. So better to start with well diversified mutual funds where put 25% into each large cap, large and mid cap, balanced and gold etf or gold fund.
      Regarding your pension, I suggest you to either go for NPS and PPF. But in my view it is better to start with once again investing in equity. Reason being, your goal is long term and if you opt SIP route then you will get a good retirement corpus in long run. For further calculation regarding plan specific, you can mail me your personal details.

  157. Bharath Kumar

    Hi Basavaraj,

    I saw your old Articles it’s a wonderful job and i got more information about lands.

    I am a New comer to Real Estate field as a Agent And i would like to know some details about below mentioned (Doubts)

    1). What the Real Estate Agent should get the proper documents from seller to avoid some problems, (May be land Measurements
    In Acre’s or in Small pieces like a 30X40, 40X60) before showing the land or documents to buyer

    2). As per the Government of Karnataka what the Real Estate Agent Should get the commission for his (agent) middle man work.

    3). how commission will be calculated.

    4). How to make agreement to take (agent) middle man work commission.

    Please help out of this

    I really thankful to you

    Thanks & Regards,
    Bharath Kumar

    • BasuNivesh

      Bharat-As usual the documents need are previous sale deed, encumbrance certificate, khata certificate. List is big and depends on case to case. To be frank as of now Indian real estate is unorganized sector. Their is no proper valuation either in pricing or in the brokerage structure. So it all depends on the each sale you do from your end.

  158. Vijay Pal

    Hi Dear,
    I got ur name on The slide forum, I installed it for my site, but it is not working, i have already activated it, could you please help me

    • BasuNivesh

      Vijay-When you installed? I waited for a day or two, after that it started working fine for me. Wait and watch 🙂

  159. H K Raghu

    A small correction in the above comment loan sanctioned to my dad 2 years back was just 8.00 lakhs. Sorry for that

  160. H K Raghu

    Dear Basu Nivesh,

    I am HK Raghu and I need to discuss in detail on the closure of the reverse mortgage loan which was availed of by my father from Central Bank of India. The bank is claiming that we have to repay the whole amount roughly 37.00 lakhs including the amount with the insurance (roughly around 18.50 lakhs) where as the loan sactioned to me by the bank 2 years back was just 8.00 Lakhs. I am available on 99457 17057. Would be happy if I can have your contact no too. VERY URGENT PLEASE

    • BasuNivesh

      Raghu-Is it possible for your come on Gtalk or Skype tomorrow? If not then you may call me tomorrow morning around 10 AM to 12 AM to my contact number. We discuss in detail.

  161. Sumati

    I am a ex banker with a CAIIB qualification and 20 years experience. I am keen on taking up the CFP Exam 5 directly for which I am eligible. Can you recommend some good books for reference and whether it is required for me to go thro’ all the modules.

    • BasuNivesh

      Sumati-Welcome for your initiative to have CFP. You will get books if you enroll with any one education provider. It is better just to glance through all module once. Even though it is not required for you but still good to have a glance. Are you taking CFP under any education provider or directly?

  162. Shankar

    Dear Basavaraj

    I really apprciate your intiative in starting this blog. It is really very informative and useful for readers from different backgroud. I am an MBA graduate with 7 years of work experience, but not in the financial services industry. But I am very much interested in pursuing CFP but learnt that it requires atleast 3 years of financial services industry experience. Could you please guide me how can I make a career in this.

    • BasuNivesh

      Shankr-Thanks for your encouraging words. Yes about experience what you heard is right. You can start perusing it and complete the exams but will get CFP tag once you fulfill experience requirement. Share me your current domain of working and your future plans, will definitely help you.

  163. BANNI MURIGEPPA Ex-Charman LAXMI SAHAKAR BANK GULEDGUDD FINANCE DIRECTOR: DEV STRUCTURAL INDIA PVT LTD BELGAUM

    New generation need to be educated for financial life, Now as days no life withiught money. the effert taken by you is quite appriciable. Today the global market is tumbing the right decision help the investers interest. My Best wishes to you and your team ..BANNI MURIGEPPA Ex-Charman LAXMI SAHAKAR BANK GULEDGUDD FINANCE DIRECTOR: DEV STRUCTURAL INDIA PVT LTD BELGAUM

    • BasuNivesh

      It is unexpected bouncer for me 🙂 I really thankful for your encouraging words. Hope to get the same in future too.

  164. Gopal Tikare

    Hi Basavraj,

    I use to get so many mails from you with respect to blog… etc. But dint found much time to go through it.. One fine day i thought and logged into your blog and found so informative and worth following your blog. Really great job and it really helps the investors to invest in right direction.

    Please write more blogs on MF and Trading too.

  165. bradleez

    My husband is a financial planner too and he agrees that it is his job to inform his clients and not misrepresent them and teach them about the dangers out there! Good for you!

      • sandip

        Dear sir,
        I am having 3 traditional LIC policies as— Endowment 14,(from 3.5 years) JEEVAN AANAD (from 2 years), and JEEVAN SATHI (from 2 years). and for all these 3 policies I pay annual premium Rs. 34422. Term of all these is 21 years. my current annual income is 4.32 Lakh.I am government servant. I am the only earning person in my family. Surrender value of all these is Rs. 16800 only and I have paid Rs. 87984 for premium till today for all these policies. So, in this condition what will be suitable for me………
        1) whether to surrender all these or selected policies (by accepting loss of Rs.71184 )?
        2) If surrender, which company Term plan (tell me sum and term also) will be suitable for me as i need full security and guarantee as i am only earning person.
        Please, guide me.
        Thanks very much from,
        Mr. Sandip

        • Basavaraj Tonagatti

          Sandip-Let each policy to complete 3 years then you surrender. I don’t know how you got the values of surrender. Because in above policies one need to complete 3 years then only he/she is eligible to surrender. Regarding choosing the term plan, I prefer to diversify your risk by taking term plans among 2-3 insurers. My choice will be ICICI, HDFC and if you have love but ready to pay high premium then LIC. Sum Assured in your case will be minimum of Rs.50,00,000 and tenure must be around 60-65 years of your age. Still have doubt then ask us 🙂

          • sandip

            Dear sir,
            I am 32 years old. my annual income is 4,32000. I am salaried Government servant. . I have taken Loan – 5 Lakh. of credit co op. society for Plot at interest rate 11.25 annually. Just openend PPF in SBI. No any pension scheme is active for we new servants.
            In this condition……1) should I invest or not (when I have to refund my loan of 5 lakh)
            2) where to invest
            3) guide me about investments, tax saving investments
            4) now I pay 5000 principal and near-about 5000 interest per month for 5 Lakh Rs Loan. in this condition Should I focus on refund of Loan?
            Please Guide me. I am your regular reader. Thanks sir.
            yours,
            Mr. Sandip

            • Basavaraj Tonagatti

              Sandip-You need a proper planning before you start new investment. Which requires lengthy debate and discussion. Hence I suggest you to drop the mail. We discuss all these things there itself.

              • virendra

                HI,
                basu

                I am from Gujarat Now in Dubai for Job.

                I have some LIC Plan, Bank Balance, Property and good job.

                But, now I have Some Extra money to invest.
                I have to Plane Invest in Mutual Fund (Birla Sun life Advantage growth Fund), It’s Right way to Invest? or Where I have to Invest?

                Your prompt and affirmative reply will be highly appreciated.

                Thanks & Warmest Regards & Respect,

                VIRENDRA

                • Basavaraj Tonagatti

                  Virendra-You doubt is just not specific. Planning involves lot of information from your end and time from my end. So without having property data and simply sharing by two to three lines I can’t guide you.