need guidance on Sbi elite ulip policy

dont invest in ulip. go for balanced mutual fund or ELSS for tax savings

they will give all kinds of options and they charge very high commissions too because they need to pay the person selling you this policy. just dont mix insurance with investment.

the return you get from balanced fund of ulip will be lower due to high fees compared to a balanced mutual fund as there will not be any fees. just think. ULIP fees are 0.5% monthly. mutual fund expense ratio will be 1-2% yearly.

ULIP also have allocation fees which is like 4-5% on the total premium you pay. MF dont have such fees. you will be entering ulips with a loss after all these fees & then you need to make gains.

buy a term plan for insurance + for investment go for balanced mutual fund or ELSS for tax savings

you can open account at zerodha & invest in direct mutual funds using their coin platform (direct MF with low expense ratio) regular funds have higher expense ratio.

invest in top ranked funds of crisil moneycontrol valueresearchonline morningstar

thanks bro…… their allocation fees is 3% of annual premium for each of 5 yrs…..i will check on mutual funds

I completely agree to @pentiumd . ULIPS are rip off. They charge you administrative charges, mortality charges etc which will not be revealed.
Be careful with them. They also have a lock in period and other conditions if you want to get tax benefit.

go with any ELSS with 3 yr lockin else balance fund would give u 9-14 % safety
buy mediclaim or term insurance separately
u can use zerodha to invest, from which you can invest into a direct plan from the mutual fund, however it is complicated for a new user
for investing easily go for a fundsindia account, though return will be about .3% lesser than direct scheme for a balanced fund, using the site is much easier

if you want safe mutual funds then go for liquid funds or ultra short term debt funds. these do not invest in stocks & their return is constant on daily basis. invest here if you wish to take out the money within a year. else go with balanced funds for long term. also go with direct funds instead of regular and zerodha coin is very easy to use.

just visit coin.zerodha.com they have explained what is direct funds and how you can earn more due to lower expense fees compared to regular MF. If ypu are new to MF then first try with liquid funds to get to know the working of mutual funds. here you can invest & withdraw anytime. you can even cancel an investment on same day of booking before 1:30pm cutoff time. you can also modify and delete sip’s.

this is a good liquid fund. the return is just like FD. see the straight line graph. https://coin.zerodha.com/funds/14058085.0020660...
Expense ratio
Direct
0.23%
Regular
0.55%

https://www.basunivesh.com/2017/10/06/best-dire...

MFU user interface is not so good. even i am new to mutual funds so i selected zerodha. with this i get trading & demat acc too . may be i will use it in future.

yearly fee for trading & demat is 300
coin yearly fee will be 600 (50/month) if investment crosses 25k

900 is not much if you invest more than 1 lac

this will be demat based and no paper work. i find it very easy to use. google and do your research.

ok bro

never invest in ULIP. the only one making profit from ULIP is the company offering it.
insurance is supposed to minimise cost of risk exposure. investment is supposed to maximise returns. the two are at complete;y opposite ends. soa product that claims to provide both ends up providing nothing.
buy a pure term policy for life risk cove. the premiums are very nominal.
invest the balance available funds in any good pure investment product. if you are a tax payer always factor in the tax benefits that you can get both at the time of initial investment as well as on return of investments.