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Chat Transcript
30 Apr - 05:00 hrs
Deepak Yohannan | CEO, MyInsuranceClub.com
ULIPs or term plans?
Chat Transcript
| guest: sir i want to start with ULIP and want to invst RS 5000 per month. plz giude me. thks |
| Deepak Yohannan: Hi, it is better to go in for a plan with low charges. Also go in for a brand which you have a preference for. The lowest charges would be from plans like AEGON Religare iMaximise plan. Do a bit more research on some comparison sites |
| rsatish2013: I have invested in ICICI pru ULIP for period of 3 yrs the costs are high and returns are not so impressive. The insurance company has told me that i will not get my first year premium paid for Rs.20K if i surrender and will get only the fund value 90% now and after 5 yrs i will get 100% of fund value(which is now less than what i have invested). I dont want to continue with ULIP as i already have a term plan with aviva for 50L. Can i surrender now or after 5 yrs and go for a best mutual fund |
| Deepak Yohannan: Yes you are in a slightly difficult position. ULIPs are front loaded and you would get only a part of what you have invested if you exit early. There are 2 things you can do, continue paying for another 2 years and then surrender. Or just stop paying now and keep track of your investments. If you see your Fund Value increasing then exit. If you have term plans and no more want insurance, mutual funds could be better |
| guest: hello sir at the age 25 i want to keep some amt from my salary for future. so tell me some good opting availbale in the mkt with good return in future. thank u sir |
| Deepak Yohannan: It is slightly difficult to suggest a tool unless I know your risk profile and also if there are people dependent on your income. So if there are no people dependent on your income you could go in for mutual funds or shares depending on your risk profile. I would recommend that you exhaust the 80c section of 1 lakh with instruments like PPF and only then go in for other instruments. If there are dependents then a term insurance should be your first plan. |
| guest: Hi Sir,I am currently investing in SBI Unit Plus 3 pension plan with Index fund and Top 300 fund.Should I change these funds ?Whats your openion on this plan? |
| Deepak Yohannan: If you have a long horizon of say 7 to 10 years, go in for the most aggressive fund which is available. So again , you should be comfortable with the risk being taken. With higher risks come chances of higher returns. If you want stable returns go in for a balanced fund. No particular opinion on the plan. You need to stay invested for a long time to get returns |
| guest: How is investment in HDFC CREST, ULIP with fixed VAV return.Please advice. |
| Deepak Yohannan: If you are going in for a ULIP it is better to stay away from the highest nav options. Go in for a aggressive fund if you can stay invested for 7 to 10 years. It is difficult to get the best returns with highest nav option |
| kishen90: how is the idea to list insurance products on the exchange as Exchange traded funds(ETF)?till what extent it can benifit the insurance cos? |
| Deepak Yohannan: Hi Kishen, the idea is very good. Insurance companies will not like it much though! As it stands currently insurance companies stand to lose financially. Plus it will kill the incentive to stay invested for long when an easy cash-out option is available. |
| guest: where the best investment |
| Deepak Yohannan: your family |
| guest: I have taken one term policy from aviva. but it has lowest settlemt ratio. Pl advice for continuation. |
| Deepak Yohannan: Its not the lowest! There are more with lower. But it is an important factor. You should really focus on ensuring that you fill the information in the application form correctly. Once that is correct, there isnt too much to worry about.If your application form is all filled correctly, stay rest assured. It is a good company and you will get a fair treatment. |
| moderator: This chat has now ended. Thank you Mr. Yohannan for sharing your views, and thank you viewers for your participation. |
| Deepak Yohannan: Thanks everybody, hope it was useful. Have fun and enjoy the holiday tomorrow. Logging out! |
