Hi Shreekanth,
Your articles are mindblowing and too informative. Thanks a ton.
I am 30 year old Software engineer. Working in IT company. Annual income around 6 lacs. My wife and My 1 year daughter is dependent on me.
I am investing:
RD: around 24000 a year
PPF: around 50-60,000 a year
Sukanya Yojana: around 20,000 a year
New Assurance mediclaim: Covers my wife, daughter and me of Rs. 1 Lac premium around 4000 year
LIC of my wife dont remember the name of policy: 14000 a year
Planning to Buy SBI Term policy this week for me of 20 Lacs: 1000 premium
I am planning to invest 100,000 lump sum in ELSS & SIP. Can you please suggest what amount should I invest in which SIP and ELSS? As I am beginner and I have read all your articles and comments too. As you are experienced in advising please suggest some names for SIP and ELSS for long term.
Also need one more help, Is it okay to buy term for now? As my father insist to first take SBI term covers 20lacs @ 1000 premium. I go thru some term plans on policybazaar.com with sum amount 1 crore and duration till 75-80 years.
I am very much confused on this. Which is better HDFC/ICICI/Aegon/LIC/SBI ? Policybazaar employee suggested me to go with HDFC Life as its term is max. 40 years while others have around 30 years. + If I add Rider of Critical Illness they have 19 illness. My father is govt. employee suggest to go with LIC or SBI as Rest are private sector and they think there might be issues in claim settlement compare to Govt. I am too confused what to do? Whether buy or not? I have checked every year premium around 1000 rs increases.
Which one you should buy if you are going to buy a term insurance and SIP+ELSS?
Please help me. Thanks.