THANKS, I can see the right path now…Please help more!!

POSTED BY Nitin ON November 30, 2012 12:55 pm COMMENTS (8)

Dear Friends,

First of all, thank you so much for giving your suggestions in my past few threads.
That helped me to choose the right direction and plan for my financial goal.
Based on your suggestions, I have decided to surrender/cancel my all existing LIC polices and created a next plan for me.
However, I still have few more questions and require your guidance again:

1. Term Insurance: Which one is good option amongs:
   (a) Buy HDFC click2Protest ONLINE insurance for 1 Crore.
   (b) Buy HDFC click2Protest ONLINE insurance for 50 lakhs + Avaia iTerm ONLINE insurance for 50 lakhs.

2. If I surrender 7 years old LIC Jeevan Ananad policy, I will get 2.5 lakhs (with the loss of 1.8 lakhs), what is the best way to invest this amount?
3. I want to invest 9000 per month in SIP, which is good medium for SIP investement:
   (a) Open a demat account in ICICI and do it self.
   (b) Invest using online sites like FundsIndia.

   Which option is good in all respect.

4. Is below investment plan in SIP is good for long term plan (Retirement purpose, 20+ years):
   Franklin Bluechip – 2000 pm (Large Cap)
   HDFC Top 200 – 3000 pm (Large & Mid Cap)
   HDFC Equity – 3000 pm (Multi Cap)
   IDFC Premier Equiry – 1000 (Small/Mid Cap)
   Total: 9000 pm

5. Is it right time to invest in SIP?

6. Planning to open a PPF account also in SBI 6000 pm (for Child eduction & Tax saving purpose):
   (a) Is their any problem in transfering of PPF account from one branch of SBI into another SBI branch (another state)?
   (b) Can I increase/decrease PPF monthly amount after opening or its fixed for 6000 per month?

Thanks for reading and helping me.

8 replies on this article “THANKS, I can see the right path now…Please help more!!”

  1. Dear Nitin, what’s the guarantee that after few years you ‘ll remain in same city & ‘ll not relocate or Aviva ‘ll remain absent from your city? Please discuss this issue with Aviva people & if they are able to satisfy you, please go ahead with Aviva, Else you may opt any other insurer, you are comfortable with.



  2. Dear Nitin,

    Its good to know that you wish to buy a term insurance policy. You may consider ICICI Pru iCare, a term plan from ICICI Prudential Life
    Insurance which can easily be purchased online and allows you to get a cover of upto 1 crore without any medical tests. This makes it very easy and quick to get protected.

    Term Insurance is not only affordable, but is also one of the simplest forms of insurance to secure your family. To learn more about the
    benefits of Term Insurance watch this video

    Regarding your concern with regards to claims, we are committed to honor all claims quickly and fairly. ICICI Prudential Life Insurance has a healthy claims record as cited in the following news articles and

    Consumers have chosen ICICI Pru iCare as Product of the Year 2012 in the Life Insurance Category based on survey of over 30,000 people by Nielsen. To find out more about this product and to see if it suits you, please visit

    Click on to locate your nearest ICICI Prudential Life Insurance branch.

    Please understand that we only offer suggestions based on your requirements, however choosing a policy most appropriate for you
    remains at your discretion.

    Warm Regards,
    Life Insurance Help
    ICICI Prudential Life Insurance

  3. Nitin says:

    Dear Friends,

    Please share your opinion about my query.


  4. Nitin says:

    Dear All,

    One question about Term Insurance, after some analysis & average feedback of AVIVA iLife plan, I was thinking to go for it, but there is one problem due to which I am not able to decide between Aviva ilife & HDFC C2P.

    Currently Aviva don’t have any office in my hometown city, so in future in case of claim, it will be very difficult to do whole process.

    Is it a important factor to remove this good plan from my list? What is your suggestion?

    Here is the comparison between Aviva iLife & HDFC C2P:

    Age: 32 years, Non-Tobaco, Term = 30 years, Cover = 1 Crore

    Parameters Aviva Ilife HDFC C2P
    Premium 9163 13,820
    CSR 87% 91%
    Cover Start After Polciy Inforce After 1 Year
    Feedback (Online) Average, ok Bad
    Local Office NO Yes

    Please share your thoughts/ Any other good ONLINE option.

  5. Nitin says:

    Dear Ramesh, many thanks for your guidance and I am surely looking into it.

    Dear Other Senior members, request you all to please share your opinion also on my queries.

  6. Nitin says:

    Dear Ramesh,

    Thanks for giving your suggestions.

    Please clarify some more:

    1. Can you please tell me why you prefer Aviva iTerm plan over HDFC Click2Protest plan, just because of cheaper premium? Why I consider HDFC over Aviva becuase of following reasons:
    – Good settlement ratio
    – Good Financial group
    – low premium
    However I heard about bad customer service about them.

    2. I don’t understand your point#2, sorry I have very limited knowledge in SIP (just started), can you elobrate more ? If possible suggestment me some good funds with allocation ratio of amount?

    3. Thanks, is it safe to invest in ‘FundsIndia’ or any other similar site (what happen if same date site is down and never opened again) , sorry again I am asking this because of have no knowledge about it (just heard about it somewhere) ?

    4. Instead of HDFC top 200, can I include DSPBR Top 100 or HDFC Prudence fund?

    5. Thanks, I will start investing in this period.

    6. Purpose is , I wanted a lumpsum amount of rupees 25-30 lakhs after 15 years for my child education (without any risk) and also wanted to get some tax benefit. So thinking to invest in PPF for same.

    1. Ramesh says:

      1. Because of good service reports. Cheaper premium also.
      Regarding settlement ratio: I dont understand how you can apply settlement ratio of older endowment and ulips to the recently launched online plan in case of HDFC. Anyways, it is an opaque value and does not signify anything. Looking at the same data, you will find that the largest number of pending and rejected claims belongs to LIC. Just want to say, two ways to see the same data.
      Good financial group does not have to do anything with insurance policy. Check Aviva International’s reputation. Or for that matter Aegon’s.
      On the other hand, HDFC have given up their partnership of Standard Life.

      2. I do not want to help you there. You will have to go through various things to understand that. And efforts from your own side will help you in the best way. If you still do not understand things, then ask here.

      3. If the site is down and out permanently, even then your investments in the funds are intact and redeemable. They just provide you a platform for online transactions. You can anyday go direct to the AMC.

      4. Just decide on max 3 funds. Both of those funds are good too. Division into large, large-midcap, multicap is just academic. And not really beneficial.

      6. For that much time, it is better to have an equity component. Do tax savings from your own money. And keep the child’s money separately or in separate folio. Putting it in long term debt does not eliminate risk. Debt investments come with their own set of risk, biggest of them being Inflation.

  7. Ramesh says:

    1. option A. Since less number, less hassle. I would have preferred Aviva as compared to HDFC. Just choose the cheaper one.

    2. Depends on your asset allocation. Go by first filling up your emergency fund, followed by low duration debt fund(s) for your short term and some medium term goals, etc. Then put the rest in equity and debt funds according to your style, comfort and long term needs.

    3. Not A. B is good or you can go with direct investing if you are happy with a max of 2 fund houses. More than that, then B only.

    4. Cancel out HDFC Equity or HDFC Top 200. Both does not make sense to me. Others are good. So, a total of 3 equity funds is the max allowed, from my view.

    5. Yes. It is.

    6. The purpose is not very clear to me, atleast the child education part. Child education money should have a decent component of equity which should be converted into debt when the goals are around 2-3 years away.

    6(a) Mostly you can operate your account from anywhere.
    6(b). You can change the amount.

    Hope this helps.

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