Investment cum insurance

Dear Raman, Kindly let me know , the commencement date - tenure details of these policies ?? Do you invest in other investment options like Mutual funds? May I know your financial goals?? Suggested articles : https://www.relakhs.com/traditional-life-insurance-plan/ https://www.relakhs.com/list-of-best-investment-options-schemes-in-india/    

HDFC SL crest started in 2010. Premium paid for 5 years @ 50K per year HDFC SL youngster plan started in 2010. Premium being paid every year till date@ 20K per year HDFC SL progrowth plus started in 2015 @ 50 K per year LIC Endowment plus started in 2012 @ 20 K per year I have now taken HDFC term plan in 2016 for 60 L. That's why I was thinking whether to close all the above or continue. Yes, I have been investing in MF in SIP for approx 20K per month in addition to some LS of 2.5 L in Birla SL MIP (II) wealth 25 and HDFC balanced Fund. I donot have any specific goal for next 2 to 3 years.

Hi, You have not provided the Tenure (policy term) details on these policies. ULIPs generally give decent returns (depends on what type of Fund you have chosen) if they are held till matuirity. But in terms of cost, liquidity and transparency, Mutual funds do outscore them. So, given a choice it is prudent to opt for MF schemes than ULIPs. LIC Endowment plan , you can surely discontinue it. Kindly read : https://www.relakhs.com/how-to-get-rid-off-bad-life-insurance/ https://www.relakhs.com/term-insurance-plan-a-waste-of-money/  

Thanks for the reply. All the policies are for 10 years from the starting date which I have provided LIC Endowment plus is also ULIP based and not conventional. If I discontinue these policies, where to invest the maturity value. I already have in HDFC Balance Fund(G) and Birla SL MIP II Wealth 25(G) for 2.5L each and SIPs(SBI blue chip,HDFC balanced,icici pru bluechip equity, Franklin Prima plus, HDFC midcap opportunties) totalling 20K per month . Should I put the money from these insurances into this MF itself or any other MF??. No specific goal for next 3-4 years

Hi, If you are unsure about your financial goals for next few years, you may re-invest the proceeds in your existing balanced fund and large cap funds (Ex: HDFC balanced / SBI bluechip etc).  

ok thanks