Topic: Inputs on LIC wealth Plus

Hi All,
Can someone pls let me know the details about new scheme from LIC. Wealth Plus. Is it adivsible to invest in that ? I am planning to invest 50K(one time payment)

thanks

This message was edited 1 time. Last update was at 30/03/2010 09:58:23

@ shikha

Please Make it clear , why are u investing ,whats the horizon , whats are your goals short term or long term

Do diversify your portfolio

In March 2010 there are 7 guarantee plans .Highest nav guarantee for 7 years
Please note this point all that shines is not gold ,
LIC Wealth Plus Guarantees NAVs, Mis-sol

This message was edited 1 time. Last update was at 30/03/2010 09:57:29

Hey Shika...

To decide upon whether you should go for ULIPS like wealth Plus, I would like to know how much educated you are. Don't mind but its necessary for your financial planning.
If you are educated I will advice you to take Term Insurance + Pure Mutual Funds seperately.

Disadvantages of LIC wealth Plus
- For every month they will charge you mortality charges and fund managment charges
- There is a significant agent commision involved in ULIPS which will finally go from your pocket.
- The insurance cover you will get from term insurance with same amount will be much more than ULIP
- You have no control in which ratio your money will be invested in debts/equities. With Indian economy about to
quadruple by 2020 pure mutual funds will defintely give you much more than ULIPS at the end of your term.

This message was edited 1 time. Last update was at 09/09/2010 12:30:07

Shika please don't be eluded by "Highest NAV Guaranteed Plans". They just mean "Highest NAV" and not "Highest Returns". Please visit my article on "Highest NAV Guaranteed Plans" on my site

LIC Pension Plus

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