LIC’s new plans 2014-Single Premium Endowment Plan (No.817)

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• my son is 18 yrs old and is mentally challenged. i want to know a single premium plan for him so that he will get a monthly income for life time after 10-15 yrs.

  • Mishra-If your intention is to have corpus for his monthly expenses after 10-15 years, then better to opt equity mutual funds and debt in proper asset allocation. Never run behind such endowment plans.

• Dear Sir,
  I work for an driver association which we formed recently, Few days back one of our member passed away leaving behind his 2 below 10 yr old girl children. we would like to invest a single premium investments for these 2 little angels for their future education or may be for their well being. Please advise the best investment the family can get benifit from.

  • Vijoe-For how long?

  • Sir our investment will be approx. 1lk/ child.

• Mr Basavaraj
  This is regarding Single Premium Endowment Plan-817
  I've heard that there is an option to reinvest the Maturity Benefits in Jeevan Nidhi
  further to get a pension per month for the life term.
  Are they exempted from tax? – (i.e. the Maturity Benefits (SA+Bonus+FAB)
  which will be credited to the account / the pension which will be received every month)

  • Satyanarayana-Jeevan Nidhi is not an immediate annuity plan. I don't know who said this and how they planned. Also, any amount you receive from pension plans are taxed.

• Dear Basavaraj

  Can you suggest a single premium policy for my nephew who is 1 yr old. I have just 20oo0 rupees to invest as a single premium and expect that it would be of some help to her at 18 yrs of age

  • Channa-If you really concern about this money and his future, then stay away from a product or policy offered by insurance companies.

• Dear sir
  I'm thinking about my daughter she is now just 2 year old and i want good benefits for her marriage
  I'll invest 50000 per year to five year and after want to return 2000000 on her age of marriage.

  Please advise me which plan good for her

  • Mohammed-Use equity mutual funds and debt product (PPF or Short Term Debt product) in a ratio of 70:30. Don't touch these endowment products. Refer my post regarding equity mutual funds selection at "Top 10 Best SIP Mutual Funds to invest in India in 2016".

• Hello Basavaraj, I am 29 year old married woman. How much annual premium do i have to pay for a LIC term plan of 1 crore cover.

  • Ritwika-You need insurance of investment?

• I WANT ONE TIME INVESTMENT PLAN WHICH GIVES MONTHLY INCOME TO MY PARENTS I DONT WANT TO WARRY FOR THEM

  • Nishith-Use either Postal MIS or you can think of LIC's Jeevan Akshay VI too.

• Good afternoon Sir,i am 47 yr old man, I have a 13 yrs old daughter.Come to the point I have 2 lakh rupees for investment ( one time). can u plz suggest me the best place to invest this this amount so that I can good return and also no risk.

  • Hazra-Use FDs. Because I feel she need this cash when she turns 18 years, which is just 5 years away.

• i have retird on 31/05/2015 and having an income of rs 550000/-including salary of 3 months and pension. i need an exemption of rs 150000/- please advise my investment

  • Basant-Before running for tax saving purpose, first understand your financial goals. It is purely wrong to invest in any product ONLY to save TAX.

• Hi Sir,

  My name is satish. I want a one time investment plan for baby (not yet born ) . My intention is if I invest 300000 in 2016(only once) and shall I get lump sum for my daughter marriage or education . Can you suggest me some polices and the amount I can receive.

  • Satish-No policies please. First understand your target amount. Blindly investing may harm your important goal.

    • Thank you sir for your reply.

      Please suggest me one and my investment is 300000 INR. It will be great help if you guide me and i prefer long term plan , 18 years.

      Thanks,
      Satish

      • Satish-Go for equity-oriented balanced fund like HDFC Balanced Fund.