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
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
Dear Thothathiri,
May I know your investment objective(s) for this? and can you afford to take high/moderate/low risk?
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.
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