This article defines the concept of inflation and explains its impact on our savings and investment strategies.
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I have two children plans in which i invested before i was lucky to find this beautiful site and now i am working on different options armed with new knowledge.
I have this child education policy where i pay monthly premium of Rs. 12956 for 60 months, this sixty months will finish in December 2010, i will get 2 Lakhs on 18th, 19th, 20th, 21st birthday of my child + 22nd birthday 2 lakhs + Guaranteed Bonus of 6 Lakhs making a total of 16 Lakhs.
Now if I surrender the policy I will recieve 5 lakh 60 thousand which i can invest in mutual funds etc. loosing almost 2 lakhs on premium and interest on it.
But there is saying “Der aaye Durust aaye” and i want to recover and i feel i better surrender and invest the amount in mutual funds etc.
I need comments on this please.
hi,
it wud be make more sense in ur case if u cud wait till d maturity of the plan opted by u as the maturity date is not far away.as u have already made payments towards premiums,it wud be lose situation 4 u if u surender ur policy at this stage.ur child can reap d benefits of it at d specific dates mentioned.as of mf u can anyway start investing in good mf thru sip as low as rs 500 and u can continue wid it as long as u want.and remember to stay invested in mfs for long,if u don need any sum to meet ur short term goals,to get complete benefit out of it
Hi Raag,
Would like to know how long do we need to invest in ELSS? Is it one time or do we need to invest for three years regularly? which is the best ELSS in the market? Do we get interest after three years lock in from the same instrument? Kindly advice what could be the interest rate.
Thanks & Regards,
Jimmy J