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Chat Transcript

  • Lovaii Navlakhi

    11 Oct - 12:00hrs

    Find out all you want to know about Insurance

    Lovaii Navlakhi MD & Chief Financial Planner, International Money Matters

  • Posted By: guest:

    I am 48 yrs old male, married and having 2 kids. I have term insurance of 50 lac with ICICI I-Care. I still like to buy another good one of Rs. 25 Lac. Please advise

    Posted By: Lovaii Navlakhi

    : Yes, it is definitely a good idea to enhance your insurance coverage with more dependents to support.

    Posted By: guest:

    I am 49 yrs old male. my liabilty is my wife and two children.i want 1cr life insurance with lowest premium.Which life insurance scheme is best for me ?

    Posted By: Lovaii Navlakhi

    : The most economical form of life insurance is the pure term cover that only pays in case of happening of the event (ie death) during the policy tenure. This form of insurance provides an opportunity to acquire higher coverage value at lower costs allowing you to take better investment decisions with the surplus money available

    Posted By: guest:

    I have a policy with Kotak life Insurance and its ULIP plan ( Kotak Guaranteed Growth). I am investing Rs.2000 2005 and the term is 30 years. I see that the Fund value is just few thousands more than what i actually invested in these last 11 to 12 years. The life cover is for 9Lakhs. Should i quit this and take the money out and invest it some where WISEly. Please advise

    Posted By: Lovaii Navlakhi

    : There is no generic recommendation that can be given on a particular Insurance cum investment product without understanding the investment options chosen. Ulips are long term investments products with upfront charges that are comparatively higher during the initial years of the policy tenure. Thus one does not see the returns being generated on the investment in the initial years. You may want to first understand the applicable policy charges on the product including cost of surrender and know the investment option chosen before taking a call.

    Posted By: guest:

    I am 62 yrs old. I am interested in Annuity scheme of LIC. Jeevan Akshay VI. My investment would be Rs.3 lakhs. Would you recommend any other alternate with similar benefits?

    Posted By: Lovaii Navlakhi

    : Annuity products offered by LIC can be considered, however it would be good to take product illustration from a few other insurers offering a similar product before you finalize

    Posted By: guest:

    I am eyeing a term plan..Confused between ICICI and HDFC...which will be better? I am eager to go with that company who will attach my form and the medical test reports with the final booklet.

    Posted By: Lovaii Navlakhi

    : Both these insurers can be considered. On your requirement of receiving the medical report once the policy is converted, this should be provided by all insurers. Few upload the reports at the customer portal, while others attach to the policy booklet. In some cases you may have to raise a request with the insurer. This will be made available to you by all insurers after policy is converted.

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