ICICI Pru Elite Life Super

Q & A ForumCategory: Financial PlanningICICI Pru Elite Life Super
Thothathiri asked 6 years ago
Hi Sreekanth, Am having a corpus of 10L for investment and need it only after 5 years for children education. I got a proposal from ICICIDirect to invest in Elite Life Super with annual payment of 2L for 5 years. They proposed it as i asked for Tax benefit in the gain. Kindly let me know above is good option to go keep in mind LTCG i have to pay. Am in 30% slab. If this is not good option, please suggest alternate way of investing lump sum without LTCG. Thanks for your time. Thothathiri S
3 Answers
Sreekanth Staff answered 6 years ago
Dear Thothathiri, Kindly note that do not pick an investment product based on just tax saving benefit.  ICICI Pru Elite Life Super is an ULIP plan. Personally, I prefer investing in MFs to ULIPs. You may kindly go through this article and revert to me with more queries, if any; Mutual Funds Vs ULIPs – Which is better? | Post Budget (2018) LTCG Tax proposal on Equity Mutual Funds & Shares
Sreekanth Staff answered 6 years ago
Dear Thothathiri, May I know your investment objective(s) for this? and can you afford to take high/moderate/low risk?
Sreekanth Staff answered 6 years ago
Hi, You may avoid - Gold, Shares & Small/Mid-cap funds. You can build a portfolio with a mix of - Equity Hybrid Fund, Short term Debt Fund, 3-5 year Secured NCDs, 3-5 year Company FDs. Related articles :
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