Please help me to Improve my Financial Portfolio

POSTED BY Nitin ON November 16, 2012 4:13 pm COMMENTS (5)

Dear Seniors,
Recently I came to know about this wonderful forum and realise that I did some mistakes in doing my financial planning.
Below is my investment profile; please guide me how to make it better:
1. LIC Jeevan Anand (Start at 2006): Premium 65K p.a (Total 9 polices)
2. LIC Komal Jeevan (Start at 2011): Premium 75K p.a
3. LIC Jeevan Tarang (Start at 2011): Premium 50K p.a
4. ICICI GISP (Start at 2011): Premium 50K p.a
My Details:
Age: 32 (Married, 1 kid 2 years)
Income: 10 lac p.a
House loan: 20,000 p.m (about to start)
My Queries:
1. How to improve my financial porfolio? What changes required in it?
2. From some recent post, I understand that its better to take one Term Insurance. So want to take one for 1 Cr.
– Which is the best term insurance which suits my profile?
– Is it safe to buy ONLINE? (What are the things needs to take care).
3. Which is the best PPF policy for investment purpose?
Sorry for too many questions.
I shall be very grateful for your early & Prompt response.

5 replies on this article “Please help me to Improve my Financial Portfolio”

  1. Nitin says:

    Hi Manish, require your expert opinion in this.

  2. Nitin says:

    Dear Manish ji, Ashal Jauhari ji & other senior members,

    Please advice, what is the best possible way to get rid of all these policies with minimum loss?

    Also, if possible please comments on my other few queries.


  3. Nitin says:

    Requesting all senior members & experienced people to please guide me how to improve my financial planning & what is the best possible way to get rid of all these policies with minimum loss.

  4. Nitin says:

    Dear Biswa Singh,

    Thanks a lot for your reply and suggestion. I will check about the book by Manish.

    Cancelling all those polices will make huge loss for me (more the 3-4 lacs), considering some of the policy are more than 5 year old (Jeevan anand).
    Is there any other better alternative for that like paid up policy (sorry i don’t have much details).

    1. Could you please guide how can I close these policy in a better way?
    2. Anything needs to take care before buying ONLINE term insurance?
    3. Could you please suggestion some other alternative safe investment options?

    Many Thanks.

  5. Biswa Singh says:

    1. Get rid of all these policies and buy a term insurance and healthe insurance. Educate yourself more on personal finance. If possible get the book written by Manish which is not expensive around rs. 300 i think and please go through it. You will come to know what you need to do in life. I think once you read that book you will close all these policies, buy a term insurance and health insurance. Then you will start investing in Mutual Funds, Gold, Silver, etc.

    2. Online term insurances are better as they dont involve the agent fees and much cheaper. I have Bharati AXA but there are many like Bajaj, LIC, SBI, etc. You need to see the settlement raion of the company.

    3. PPF are not the best if you are thinking interms of investment. But you may opt SBI, ICICI, etc. whichever you are more comfortable.

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