Sponsored by:
Chat Transcript
30 Apr - 04:00 hrs
Anil Rego | Founder & CEO, Right Horizons
ULIPs or term plans?
Chat Transcript
| tushargoel86: Hi, I have new born baby. I want to save money for her higher education after 20 years. As of now i earn around 35K/month and no current saving. |
| Anil Rego: One needs to keep in mind that you need to plan for your own child`s higher education. Hence, you need to save some amount on a monthly basis, however small. You can increase the amount over the years. You could start an SIP into large cap equity MFs and can take some higher risk considering your liquidity availability and the long time period. |
| rsatish2013: I have invested in ICICI ULIP for the period of 3 years. I just want to exit of these ulips cos the costs are more and the return are very less. Do you suggest me to go for a mutual fund instead of ULIP as the costs are more in ulips |
| Anil Rego: You need to study the cost of the ULIPs going forward. Since the charges are front ended, evaluate the costs of the ULIP Vs the Expense Ratio of the Mutual Fund with the cost of term cover. If the ULIP is disadvantageous then you can stop further payments. You can choose to exit based on market conditions. |
| syed_1986: sir,i dont have any investments & life insurance.my age is 26yrs and earning 20k/month.Kindly advice. |
| Anil Rego: It is good to start your investments at an early stage. Try and invest about 15-20% of your income including through tax saving instruments. In the initial years focus on tax saving investments as your PF contribution is going to be lower. At your age you can afford to take risk and hence SIPs into equity MFs - large cap and midcap would be good. You can increase this over the years. |
| srikumar1976: Hi, Please suggest me a good Online Term Plan option ? I am thinking of Aviva i-Life and HDFC Click2Protect or Bharti AXA e-Protect? I want to take 2 seperate plans for 50 Lakh & 25 Lakhs. Is it advisable? |
| Anil Rego: There are many sites that will give you comparative quotes of Term cover. Apart from cost, we need to look at the credentials of the company and also their claim settlement ratio. You can choose to take it from either one company or a combination based on your comfort. |
| moderator: This chat has now ended. Thank you Mr. Rego for sharing your views, and thank you viewers for your participation. |
