Publication details: Money Manager – CNBC Bajar – 10-03-2016

Responses, opinion and view from Kartik Jhaveri.

Question sent by Satish Shukla:-

My monthly salary is Rs. 28,000. I have a 4 year old daughter and a 7 month old son. I have an LIC policy which I bought 7 years back and a Rs. 1 lakh money back policy. My home loan EMI is Rs. 6,000. I want to purchase a new LIC Jeevan policy but I’m confused as to which is the best investment which will provide me a higher return in 15 to 20 years. I can invest Rs. 3000 on a monthly basis. Currently I do not have any investments in equity mutual funds. Kindly provide me some advice.

Advice given:

  1. Insurance is a risk management tool and one should never mix life insurance with investment. Life insurance investment option is expensive and not appropriate.
  2. It is possible to save substantial amount of money per annum on buying a pure term insurance. The amount so saved could be invested in some other more profitable manner.
  3. If you are planning to invest for long term, then you can consider doing a monthly SIP in equity mutual funds.
  4. For instance a monthly SIP of Rs. 3,000 for the next 20 years, can amass approximately Rs. 40 lakhs, considering a growth rate of 14% p.a. Against this you will get approximately Rs. 11 lakhs via insurance. This is assuming a growth rate of about 4% p.a.


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