Dear Sir,
Thank you for your kind reviews and much impressed with your blog. I am presently NRI and Plan to settle in INDIA soon, I request you to review my portfolio and advice.
Objective: Generate Monthly Income, Invest for the Risks(Health & Life), Happy retirement and son Abroad Education
Mutual Funds (SIP & One Time Investment)
Plan Name
Per Month SIP
Total as of 23-Jul-2017
IDFC- Premier Equity Fund- Growth
2000
46000
HDFC Growth Fund -Growth
1000
23000
RELIANCE REGULAR SAVINGS FUND - DEBT PLAN - GROWTH
1000
23000
Birla SunLife Frontline Equity Fund
1000
11000
HDFC Mid Cap Opportunities Fund
1000
11000
ICICI Prudential Value Discovery Fund
1000
11000
Franklin India High Companies Fund
1000
11000
Tata Balanced Fund - Regular Plan- Growth
1000
23000
L & T Mid Cap Fund -Growth
1000
19000
DSP Small & Midcap Fund - Growth
5000
15000
DSP Natural Resources & New Energy
5000
5000
L&T Infrastructure fund
5000
5000
RELIANCE REGULAR SAVINGS FUND - BALANCED - DIVIDEND PLAN
50000
50000
Reliance Tax saver - Dividend
1000
2000
Birla SunLife Tax relief 96 - Dividend
1000
2000
Franklin India Taxshield - Dividend
1000
2000
Axis Long Term Equity Fund - Dividend
1000
1000
L& T Tax Advantage fund - Dividend
1000
3000
Insurance Policies:
Bajaj alliance Insurance- Endowment plan
2007
30000
-
-
Kotak Life Insurance – KOTAK Premier Endowment
2016
100000
Rs.16169 - Annual premium
Star Health Insurance – Family Optima
30/08/2015
400000
Rs.12300- Annual premium
LIC INDIA - Endowment
2016
100000
Rs.6818- Annual premium
LIC INDIA moneyback
2002
40000
Rs.4000- Annual premium
NCD’s:
SRFI Equipment Finance – NCD – Rs.1,09,000
SRFI – NCD -Rs.3,10,000
Muthoot Finance – Rs.1,27,000
Muthoot fincorp – Rs.98,000
DHFL – Rs.34,000
Company FD’s:
Unitech – Rs.2,40,000
STFC – Rs.3,00,000
Bank FD’s:
Lumpsum – Rs.10,00,000
Rental Income:
4000 per Month
Investment on Plot:
Rs.20,00,000
Own House:
2 Bedroom owned
Liabilities:
Loan – Rs.10,00,000/- (Credit card)
The above is my Financial Portfolio as on date. Please give me your valuable suggestion on my plan to settle in INDIA in March, 2018.
Please note that I am planning to take Maxyork online term insurance for Rs.50 Lacs. I cannot apply from here since it requires medical test. I am non-smoker and Non-alcoholic. My diabetes type 2 started recently one year back and in controlled level with medication.
Please give me your suggestion to achieve my objective and peaceful settlement in INDIA.
Regards,
Senchaharish
2 Answers
Dear Senchaharish,
1 - You can apply for Term insurance even if you are an NRI, but you may have to bear medical tests expenses. You may also consider taking a stand-alone Personal Accident Cover.
https://www.relakhs.com/best-online-term-insurance-plans-india/
https://www.relakhs.com/best-personal-accident-insurance-policies-in-india-details-comparison/
2 - May I know the time-frame of your goals ??
Kindly read :
https://www.relakhs.com/retirement-planning-calculator-3-easy-steps/
https://www.relakhs.com/calculate-kids-education-goal-amount/
3 - Once you buy a term plan, you may discontinue your existing Traditional life insurance plans (Endowment).
https://www.relakhs.com/traditional-life-insurance-plan/
https://www.relakhs.com/term-insurance-plan-a-waste-of-money/
https://www.relakhs.com/how-to-get-rid-off-bad-life-insurance/
4 - If your objective is wealth accumulation, you may consider GROWTH option instead of DIVIDEND option on MF Schemes.
5 - Investing in too many funds may not be really beneficial (especially if they are from within same fund categories).
Kindly read :
https://www.relakhs.com/mutual-fund-portfolio-overlap-comparison-tools/
https://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/
https://www.relakhs.com/best-mutual-fund-schemes-2017/
https://www.relakhs.com/list-of-best-investment-options-schemes-in-india/
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