Hi Sreekanth,
I had earlier asked your view on continuing the HDFC Life Super Income plan. I had two plan one with 8 years and other with 10 year paying period.
As 8 year paying period got eligible for Surrender am going to surrender coming week. I checked with HDFC Life for surrendering the 10 year paying out policy, it will take another year for getting GSV
Question#1 - Can I continue one with 10 year paying period as am also insured, your suggestion to handle this.
Question#2 - I need to generate a corpus for my two Child education, son studying 7th & daughter studying 5th.
I can invest for 5 to 7 years for both Child.
I can contribute only Rs 8 to 10K due to other family commitments.
Currently I having below MF as SIP
HDFC Balanced Fund Growth - 2000
UTI Mid cap Fund Dividend - 2000
L&T Mid cap fund Direct Plan Growth - 2000
Is above funds are fine, what else MF I can select for investment.
Thanks for your time.
Regards
Thothathiri S
2 Answers
Dear Thothathiri,
Under 'HDFC Life Super Income plan', the policy will acquire a Guaranteed Surrender Value (GSV) provided 2 full years premium has been paid for premium payment term of 8 years and 3 full years premium have been paid for premium payment term of 10 and 12 years.
It is a traditional plan, so you may be better off surrendering it and divert the premiums into better investment options as per your financial goals.
Considering the time-horizon and your financial goal, you may consider not to invest in L&T mid-cap fund. You may allocate more funds to HDFC balanced fund. Continue your MF investments till 1 to 2 years before you reach the goal target year.
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