Hi Basu sir,
I am really thankful for your blogs which has really created awareness and difference between insurance and investments.
I am planning to buy an insurance policy not with purpose of high returns expectation. I am fine with 4 to 7% returns for one of my purpose.Tenure of payment range 5 to 12 years. Coverage let it be more than payment term up to 15 years. I am completely staying away from products of 25 years pay etc.
Can you suggest me some products which can satisfy the above criteria. I did little work from my end and have decided to go with Max life insurance products. I have shortlisted below but not yet decided need your help in shortlisting from them so that i can think about them. Please help.
Life assured wealth plan
Life Gain Premier plan
Guaranteed income plan
If your requirement is INSURANCE, then why you are looking for a product which is a combination of Insurance+Investment? 5% to 6% returns can be easily generated by FDs, RDs or PPF. Why these products ONLY?
If you are satisfied with 4% returns then why to take a lock-in product of such Life Insurance? Simply keep the money in savings account which will also fetch you 4% returns. NO RISK with HIGH LIQUIDITY.
I checked their returns it was around 6 to 7 percent hence was planning to go for one of them as i planned for one insurance policy in my portfolio. Till date for all my investments i had taken suggestions from you hence, before going forward came to you. Kindly help