Hi,
Am velan 27years old and married recently. I have got 10 lakhs by parents land sale. How can i plan o invest better of this for long term. My current insurance is 1cr with hdfcterm plan , 2500/m ICICI ULIP(investing from 2013) , 1500 in DSP ELSS , 2500 in Axis long term mutual fund , invested 20k in MOST 35 fund + 20 k in Birla sun life equity fund (started last week) and direct equity 2.75 lakh, yearly 2500 in HDFC classic life assure (for past 3 years) .
Update me how can proceed my investments and also how to update my tax for that 10 lakhs (inherited from parent property)
1 Answers
Hi,
The listed MF schemes are good ones.
Does your term cover provides Permanent disability risk? If not, you may consider buying a stand-alone Personal Accident insurance plan.
Do you/your family have health insurance cover?
Kindly read :
https://www.relakhs.com/best-personal-accident-insurance-policies-in-india-details-comparison/
https://www.relakhs.com/best-family-floater-health-insurance-plans-details-checklist-comparison/
You may consider dis-continuing your HDFC Life Classic Assurance plan.
You may consider the amount received from your parents as GIFT and it is tax-exempted.
https://www.relakhs.com/gift-income-tax-rules-detailed-guide/
Suggest you to kindly go through below articles, and you may revert to me with your analysis ;
https://www.relakhs.com/retirement-planning-calculator-3-easy-steps/
https://www.relakhs.com/calculate-kids-education-goal-amount/
Also do maintain adequate Emergency fund.
https://www.relakhs.com/emergency-fund-importance/
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