Hi Sreekanth,
I am 30 years old working in IT. I would need some advice on financial planning.
Currently i have a Housing loan for which i am paying 17000 a month and this for tenure 20 Years (5 Years Completed). Outstanding loan amount is 1400000.
Also i am investing in Unit linked plan for Rs 25000 an year (2 more years pending).
Recently i have gone through a plan which has life coverage and returns from 6th year and this is from Bajaj Allianz. Please advise me if this is a good idea to buy this plan.
URL : https://goo.gl/NSRhMS
Premium: 100000 per Year
Tenure: 10 Years
Thank you,
Anand
1 Answers
Hi,
Bajaj Allianz's Lifelong Assure is an Whole-life traditional life insurance plan.
Suggest you to avoid these kind of plans.
If you are under-insured, consider buying a term insurance plan with adequate life cover.
Kindly read:
http://www.relakhs.com/insurance-importance-life-health-accident-covers/
http://www.relakhs.com/traditional-life-insurance-plan/
http://www.relakhs.com/term-insurance-plan-a-waste-of-money/
http://www.relakhs.com/best-online-term-insurance-plans-india/
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