Poll: Jeevan Umang Good?
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Is Jeevan Umang good policy?

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Deal Cadet
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Hello Dimers,

Next week my wife birthday and I’m planning to take Jeevan Umang policy as her birthday gift for 50k per year for 15 years.

Can I take the policy. Is it really good?

Are do you have any other suggestions.

Please help me.

31 Comments  |  
12 Dimers
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Bad investment, Use your Bank Account, open a SIP for Axis/ICICI Long term equity fund and invest the same amount.

If you’re looking for Insurance, get a Term plan, not for her, but for you if you’re the main breadwinner.

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tristar wrote:

Bad investment, Use your Bank Account, open a SIP for Axis/ICICI Long term equity fund and invest the same amount.

If you’re looking for Insurance, get a Term plan, not for her, but for you if you’re the main breadwinner.

Thanks for the reply.

Can you explain a bit, why bad investment as Jeevan Umang gives life time return and also insurance coverage.

What is SIP? Can I get good returns for 4-5 investment.

Sorry for noob questions.

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Insurance and Investment should be 2 separate things, Insurance is for Risk Cover and investment is for savings for the future….
SIP is systematically investing in Mutual funds on a regular AUTOMATED schedule
You can invest as little as 500 and go as much as you like and yes you will get good returns in 10-15 years, stay invested..
We all start out as noob one day, no worries..

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tristar wrote:

Insurance and Investment should be 2 separate things, Insurance is for Risk Cover and investment is for savings for the future….
SIP is systematically investing in Mutual funds on a regular AUTOMATED schedule
You can invest as little as 500 and go as much as you like and yes you will get good returns in 10-15 years, stay invested..
We all start out as noob one day, no worries..

Brother

At this point which SIP is good to invest with better returns.

Please suggest.

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Subhodayam wrote:

Brother

At this point which SIP is good to invest with better returns.

Please suggest.

Go for AXIS Blue chip\DSP Midcap, Kotak select focus..don’t invest now though, wait for the market to correct, buy a lump and then start an SIP with the same folio.. Take the risk if you’re young..

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tristar wrote:

Bad investment, Use your Bank Account, open a SIP for Axis/ICICI Long term equity fund and invest the same amount.

If you’re looking for Insurance, get a Term plan, not for her, but for you if you’re the main breadwinner.

Any term insurance available for non ITR file?

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Ppf is better than all these policies whether umang, anand or any other

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mjuneja13 wrote:

Ppf is better than all these policies whether umang, anand or any other

PPF is safer, I would recommend it for people not very confident about the market, but MF/SIP does provide better returns…

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firsthuman70603 wrote:

Any term insurance available for non ITR file?

Term insurance is available for everyone, you don’t have to file returns to take out Term insurance.. But it’s not an investment, it is used for Risk cover…

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Subhodayam wrote:

Thanks for the reply.

Can you explain a bit, why bad investment as Jeevan Umang gives life time return and also insurance coverage.

What is SIP? Can I get good returns for 4-5 investment.

Sorry for noob questions.

gives life time return
How much %?
What will you get after paying 15×50000= 750000/- ?

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Jeevan Umang or any LIC policy is very good… for the LIC agent.

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If you have not applied for policy the take a look at HDFC SANCHAY PLUS
According to me it’s the best policy.

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Luciferofhell wrote:

If you have not applied for policy the take a look at HDFC SANCHAY PLUS
According to me it’s the best policy.

After @tristar suggestion I dropout my plan to invest in Lic plan. I’m planning to invest in SIP once after market correction. Waiting for the market correction pensive

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Subhodayam wrote:

After @tristar suggestion I dropout my plan to invest in Lic plan. I’m planning to invest in SIP once after market correction. Waiting for the market correction pensive

yes easily 12-20% returns yearly possible in MF..

useless LIC gives lesser than savings bank interest itself rage

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Subhodayam wrote:

After @tristar suggestion I dropout my plan to invest in Lic plan. I’m planning to invest in SIP once after market correction. Waiting for the market correction pensive

Yes bro, SIP is definitely best option with higher return but it come with risk. You asked for insurance plan that’s why i suggest, for SIP try large cap or Bluechip for low risk.

Iam also wating for correction… blush

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Luciferofhell wrote:

Yes bro, SIP is definitely best option with higher return but it come with risk. You asked for insurance plan that’s why i suggest, for SIP try large cap or Bluechip for low risk.

Iam also wating for correction… blush

Thank you brother for the reply. Can you please tag me if you see correction in market.

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Subhodayam wrote:

After @tristar suggestion I dropout my plan to invest in Lic plan. I’m planning to invest in SIP once after market correction. Waiting for the market correction pensive

SIP’s one of the primary purpose is to beat the market fluctuation. Why do you want to wait for the market to fall if planning SIP? It’s already falling a bit but you would never know the bottom and may keep waiting.

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Subhodayam wrote:

Thank you brother for the reply. Can you please tag me if you see correction in market.

Most of the time the small correction is  very sudden.
Previously i saw correction of 6 percent was very sudden.
According to my opinion if you are starting SIP then you are definitely going to invest in long term. So these small correction didn’t have much impact on mutual fund in future but you can wait bro blush.

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Majestic wrote:

SIP’s one of the primary purpose is to beat the market fluctuation. Why do you want to wait for the market to fall if planning SIP? It’s already falling a bit but you would never know the bottom and may keep waiting.

Agreed bro..

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tristar wrote:

Term insurance is available for everyone, you don’t have to file returns to take out Term insurance.. But it’s not an investment, it is used for Risk cover…

Thanks… Can u suggest any such term insurance available???

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The reason we wait for a correction is to first invest a lumpsum amount and then follow through with a SIP..

So if there is a correction in morning, I’d invest let’s say 50K to 1L in let’s say AXIS Blue Chip… and then follow through with a monthly SIP… The initial investment will help with good Averaging of my net NAV

Always buy additional units whenever there is a correction… Just 10k or 15K…

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punjabi08 wrote:

Is jeevan saral a good policy to continue?

If you’ve paid >3-5 years then Yes, continue, it’s a poor investment but continue the policy through 11-12 years to get some benefit out of it.

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firsthuman70603 wrote:

Thanks… Can u suggest any such term insurance available???

I think the last time I reviewed term policies the best were Aegon and Max Life…

However HDFC One CLick also has some good reviews.. Be careful about the various riders that go along…

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tristar wrote:

If you’ve paid >3-5 years then Yes, continue, it’s a poor investment but continue the policy through 11-12 years to get some benefit out of it.

What happens if we stop paying after 3 years.. How to get refund or maturity amount?

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vishal_ag wrote:

What happens if we stop paying after 3 years.. How to get refund or maturity amount?

You can Surrender the policy and withdraw the amount also, however you will get lesser than what you’ve paid…

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tristar wrote:

You can Surrender the policy and withdraw the amount also, however you will get lesser than what you’ve paid…

I guess after surrendering we get 50% approx only.. Isnt it?
Any way to get full amount?

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