Dear Sreekanth, How are you doing? Thank you for your wonderful investment suggestions. Kindly review my LIC policy, I would like to get your suggestion about my LIC policy plan advice: My LIC Plan is: New Jana Raksha Plan (Plan-91) i did almost paid last 10years now the people says bad reputation about LIC, shall i surrender and get out from this LIC plan? or shall i continue to complete the rest of the years? please expecting your advise! LIC plan started date: 2010 Ending: 2026 Thank you Senthil
Dear Senthil, Kindly note that LIC is a big player in Indian Insurance industry. Their reputation is good as a company. But, the important thing whether intermediaries (Agents) sell right products to their clients and/or whether the prospective investor/policy buyer buys right product as per his requirements... is a big question mark!! Unfortunately, there is a lot of mis-selling that happens in India. LIC New Jana Raksha plan is a traditional endowment insurance plan. The returns from these kind of plans can be in the range of 4 to 5%. May I know your age, salaried/self-employed, do you have dependents and/or have financial obligations? Do you have adequate life insurance cover through a Term life insurance plan?? Kindly read :
Dear Senthil, I believe that your utmost attention should now be given to your 'Insurance planning'. You are 'under-insured'. The investments can wait but you need to get adequate life insurance cover at the earliest. Do you and your family has adequate health insurance cover?? Suggest you to go through below articles which can give you some idea about the basic concepts of Financial planning;
- List of Articles on the key Components of Personal Financial Planning
- Financial Planning Pyramid : Wealth Protection, Accumulation & Distribution
- How much Term Life Insurance Cover do I need? | Online Insurance coverage Calculator
- Retirement Planning in 3 Easy steps
- Calculate how much you need to invest for your Kid’s Education
- What is an Emergency Fund? | Why, Where & How much to save?
Thank you Sreekanth for your prompt reply let me read all your suggestions I would desire.
Sure Senthil.. Do revert with more queries and will surely provide you with suggestions to the best of knowledge!
Dear Sreekanth, I would like to clarify the doubt, What is the different between opening directly demat account from zerodha website portal and opening demate account from sub broker or through zerodha partner? the cost of commission will be high? if demat account opening by referral sub broker and zerodha partner? commission subsidy from customer? which one is best for opening zerodha demat and trade account by direct zerodha website portal or sub and zerodha partner through and what is the advantages? as the sub broker youtube channel people keep sending us email for opening the demat account using by their referral link from youtube Thank you for your wonderful support to people Best regards, Senthil
Dear Senthil, I am not sure about Zerodha sub-broker model. If your objective is to buy investments (stocks etc) once in a while and hold for long-term, you may stick to big players like icicidirect, kotak securities, hdfc sec etc., the cost of brokerage can be high but their quality of service can be fantastic.
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