Sir,
I am planning to invest around 10 lakhs in 2 guaranteed tax free (non equity linked) funds.
Can you pls provide your views on
Aditya Birla SunLife Guaranteed Milestone - Plan (Tax free interest is 10.66%)
- 6 years we need to pay premium,
- From 7th - 14th year no return & by end of 14th year assured return with insurance coverage
- 7 years we have pay premium
- From 8th year monthly interest for 8 years
- at the end of 15th year,indicative tax free bonus
4 Answers
Hi,
May I know if you have adequate life insurance cover through a Term insurance plan?
Have you invested in other investment options for your long term goals?
Based on what you have come to know that both these plan provide exact returns (10.66%) ??
Sreekanth,
I invested enough on insurance & term plan so not keen in ULIP or insurance. Seeing only guaranteed return FD's. pls suggest some.. should i go for PPF?
Hi,
Kindly note that the above two plans are Life insurance plans only.
These are traditional Endowment life insurance plans.
Generally these kind of plans give return on maturity of around 4 to 7%. Advisable to avoid such plans.
The returns are highly dependent on bonus rates / additions.
Assuming your investment time-frame is long-term, you can opt for PPF a/c, in case your requirement is fixed return with low-risk profile. However, the maximum amount which can be deposited every year in a PPF a/c is Rs. 1,50,000 only.
Kindly read :
https://www.relakhs.com/traditional-life-insurance-plan/
https://www.relakhs.com/list-of-best-investment-options-schemes-in-india/
https://www.relakhs.com/tax-saving-investment-options-us-80c/
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