RE:Dont mix insurance and investment
by Abhiram Sharma on Dec 10, 2007 08:52 AM Permalink
mr. senthil, I agree with you. but term plan also have one big loopwhole. as if somebody age now is 25 years and he take term plan for 10 years. and after at his age of 35 he again needs insurance. but then maybe due to these days lifestyle. he may have so many health problems.(sugar, BP. etc) then maybe he is not able to take insurance again. so i think lifelong is best option. abhiram
RE:Dont mix insurance and investment
by antony ignatius on Dec 16, 2007 02:31 PM Permalink
There are renewable term plans. I have bought a 5 yr renewable term plan, where i can renew my plan after 5 years without going for medical.
RE:Dont mix insurance and investment
by desi investor on Dec 10, 2007 10:28 AM Permalink
Why stick to 10 years. Its all BS about sugar, BP etc. If you buy an expensive plan they will insure you. If you need a term plan they will give all sorts of excuses. Take term plans for the max amount of years. Anyways if you are 55-60 your dependencies are reduced.
From my personal experience with reliance, I try to avoid them for any reason. I have taken LICs Jeeven Anandh. After all its is a PSU and the agent is your friend. Better than your hard earned money eaten by the biggest cheater of the world anil ambani
RE:Dont trust Reliance
by balu goda on Dec 16, 2007 10:42 AM Permalink
Reliance are the biggest threat to the country - i sent one compliant - in writing - to them but no response inspite of 25 days
RE:Dont trust Reliance
by Amit Srivastava on Dec 16, 2007 01:40 PM Permalink
It is not only in Insurance also in Communication, Money and In power infact he has learn all the things from his Father and Elder brother. After all they are AMBANI.
RE:Dont trust Reliance
by doc_cent on Dec 25, 2007 04:30 PM Permalink
I agree. Reliance Communications are the most irresponsible people. They would not mail a bill for services provided but will ask you to pay the amount just on their telephone call. Ehsaan Qureishi
Sir you are missing one of the major factors regarding the Term Insurances. You will not get even a single rupee back if u didnt die in between that 25 years. In other policies, u'll get the entire money with interest.
RE:No returns after the period is over
by GX on Dec 09, 2007 08:45 AM Permalink
hahaha..i have done an insurance certification. Listen there is a mortality cost associated with any kind of insurance. In term, u are charged just the mortality expenses. In endowment and other schemes, the mortality expenses is built in your premium. Both use the same mortality tables and the equivalent amount of your term premium goes to meet this expenses. So either way you are charged the same amount for the risk. What you say we receive at the end of term is nothing but the remaining amount of your premium that has been invested by the company. So the argument here is irrelavant!
RE:No returns after the period is over
by VASUDEVAN VM on Dec 16, 2007 08:19 AM Permalink
Sudeep, You calculate for an endowment policy premium and keep separate, out of which you take a term policy and remaining amount put in ULIP or mutual fund. After certain period you will find the difference.
The cheapest term policy is of Max Newyork Life Insurance. With Rs.3000/= p.a. you will get a coverage of Rs.10 lakhs. For 10 lakh policy you have to pay a minimum of Rs.30,000/= p.a. Here you take a term of 10 lakhs and remaining 27000 put in MF your gain will be much higher than that of endowment hence you can forget the term premium
RE:No returns after the period is over
by kunwar bora on Dec 08, 2007 05:00 PM Permalink
bt u pay a big amount in other policies..... n what u get aftr 10 or more yrs is much less den the inflation rates.........
LIPs are not meant for Investment they r to cover risk on life
RE:No returns after the period is over
by Girish Rao on Dec 08, 2007 05:11 PM Permalink
you are right and anyway in ULIP they deduct mortality charges which are recovered from your accumulated units at the end of each year.
RE:Reliability
by genevive dsouza on Dec 08, 2007 02:37 PM Permalink
all private insurance co. including lic are governed by the IRDA. sO there is no concern on this point.
RE:Reliability
by raveendra on Dec 10, 2007 09:13 AM Permalink
All insurance policies are humbuck do you know it is beneficial to agents and development officers who are earning crores of rupees by giving wrong advice moreover it is a waste of our money
RE:On Buying Life Insurance ...
by Abdul on Dec 08, 2007 02:14 PM Permalink
By buying insurance you are not betting on your death,but are trying to compensate the loss the family will suffer financially because of a event that is not in your hands.
This is not a pessimistic approach but investment against the unknown.
RE:On Buying Life Insurance ...
by rajeev b on Dec 08, 2007 11:35 AM Permalink
Life insurance is for those who have dependents and in the cause of any event/death of the person who is the earning member of the family, an amount is paid by the insurance company.
RE:On Buying Life Insurance ...
by Girish Rao on Dec 08, 2007 10:54 AM Permalink
it is not being pessimistic it is being practical and level headed. Nobody wishes to die but death can occur at any time anywhere. Insurance is a indirect way in which society provides for the family whose bread-winner has died.
RE:On Buying Life Insurance ...
by VASUDEVAN VM on Dec 16, 2007 08:21 AM Permalink
Your thinking is one of the most foolish thinking. Think the insurance is a deposit for your nearers and dearers, which they can enjoy.
