I have done my asset allocations in debt and mutual funds based on my goals.
Apart from this I want to invest a little money in a retirment plan for few years due to few personal reasons.
I aggree we should never depend completely on retirment plans or any such fancy words.
I checked myself in many portals trying to understand the plans but did not find any guaranteed return plan or something like that
This kind request to suggest few good retirement plans. It would be helpful.
Excellent and thanks for confirmation even i didnot find anything was trying to check with you before concluding myself
I tried finding all different types of plans like money back, retirment, ULIPs, Whole life, Pension, child plans
All these plans do only below,
1. Guranteed returns would be max up to 4 to 5%
2. Pension plans/Retirment/Moneyback/Child plans give the same returns of around 4 to 5% with few options like periodic payout or lumpsum
3. ULIPs as usually not guratteed but fancy numbers are shown but as they are ULIPs anything can happen
Benefits I observed:
Family can get some death benefits or accidental benefits in case of some unfortunate thing
Extra bonuses if good may make overall return percentage upto 6 to 7% in total.
These two benefits can be better handled by taking term insurance and remaining amount put in basic bank FDs.
This is my thought, correct me or please add some suggestions if anything from your end
Yes, life risk can be covered by buying proper Term Life Insurance. Regarding investment, I am not saying FD best. It depends on many criteria.