Sir, I have three LIC Policies, table no 88 from 2006, 75 from 2009, 165 from 2011. Total yearly premium Rs 73000. My yearly income is near about 4 lach. Now I thinking of discontinue some LIC policies. I think about insurance and investment, please guide me.
My another request, for retirement pension, is it right decision to open a account tire 1&2 at nps system? please advice me.
Yes, better you close the existing all policies. Buy immediately term insurance to the tune of at least 15-20 times of your yearly income. Identify your financial goals. Based on that start investing. NPS is bad product due to less liquidity and taxation at retirement. Hence, better to stay away.