Making The Right Invesment and be happy in life
How often have we taken a personal loan and repented for it the rest of our life?.
How often have we invested in a wrong product and have been caught in the never Ending Premiums to pay.
well if you are thinking along these lines,then just read on for you may thank me for what i am writing.
without beating around the BUSH let me tell you the GOLDEN RULE ...
" DO NOT BUY INSURANCE AS AN INVESTMENT PRODUCT".
"CHILD POLICY" "MONEY BACK POLICY" are all marketting GIMMICKS.
the best insurance policy after all the taxes would return you 8% anually.
The same money invested in buyingg MUTUAL FUND or DIRECT STOCKS would give you much more returns than the insurance policy. when we buy an ULIP (UNIT LINKED INSURANCE POLICY) a portion of it goes towards the charges for the company to manage your fund, a portion is invested for your insurance and the rest is invested in the stock market.
(the index they track may VARY).
a better option would be buy a TERM INSURANCE POLICY which will cover you for any UNFORESEEN situations
and put the rest of the money in a MUTUAL FUND (either directly or through a DEMAT account).
so the next time some body comes to you with an insurance policy BE CAREFUL he/she HAS HIS/HER INTEREST IN MIND and NOT YOURS.
still if u want to buy an insurance ask for the annual IRR (internal rate of return)
that is what is the rate of interest u will get after all the tax deductions.
most of then will not be aware of that and ALSO ASK THEM FOR A BENIFIT ILLUSTRATION".
also open a PPF account.
its an EEE scheme (Exempt,Exmept,Exempt )where ur investment,accumulation and withdrawal are not taxed.
but there is a CAP of a max of 70000 rs that can be invested annually.
70000 RS INVESTED ANNUALY FOR 35 YEARS at the rate of 8 percent will definetely get u MORE THAN
a CRORE OF RUPEES......
for mo\re tips read my next article............
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