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Pankaj from Jaipur: ULIP or Mutual Funds for Investment and Insurance?

Milind Vadjikar |587 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Nov 06, 2024

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more

Asked by Anonymous - Nov 06, 2024Hindi

Money

I’m Pankaj from Jaipur. I am 49 with two sons aged 18 and 15. I currently hold life and health insurance policies. Should I switch to a ULIP for a combination of investment and insurance, or stay invested in mutual funds for long-term growth?

Ans: Hello;

If you have term life insurance cover 10X of your annual income then it's okay else you need to enhance your term cover.

Never couple investment with insurance.

Now even the maturity proceeds of ULIPs are subject to capital gain tax, with some conditions.

It is better to stay invested in mutual funds for long term growth, is my view.

Best wishes;

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Question by RAJEEV - Mar 19, 2021Hindi

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My current age is 47 years. I have invested in below ULIPs for 5 year lock-in period; What is your opinion on below ULIPs? Please suggest me some good mutual fund investments which will give good returns and also suggest me term insurance?

Ans: Health / Medical Insurance and term insurance for protection and Mutual Funds for Investments are better options.

ULIPs are not ideal for investment purpose; instead mutual funds should be used for investments

For 10 years (and then switch to debt funds i.e at the age of 57)

1. Axis ESG Equity fund – Growth

2. UTI Flexi Cap fund – Growth

3. PPFAS Flexi Cap – Growth

4. DSP Quant Fund – Growth

For term insurance look at LIs with high claim settlement ratio and choose for the same at your convenience.

BAJAJ ALLIANZ LIFE GOAL ASSURE - Premium Payment Term 5 Years, Started premium from March 2018 (Premium paid yearly - 2 lakh rs per annum)

HDFC Life click to invest - Premium Payment Term 5 Years, Started premium from March 2018 (Premium paid yearly - 2 lakh rs per annum)

Edelweiss Tokio Life - Wealth Plus Premium Payment Term 5 Years, Started premium from March 2018 (Premium paid yearly - 84,000 rs per annum)

Ramalingam Kalirajan |6978 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 20, 2024

Asked by Anonymous - May 04, 2024Hindi

Money

Is mutual fund better than ulip

Ans: Understanding Mutual Funds vs. ULIPs
It's great that you're considering different investment options to secure your financial future. Both Mutual Funds (MFs) and Unit Linked Insurance Plans (ULIPs) are popular choices among investors in India. Let's delve into why Mutual Funds are often preferred over ULIPs.

Transparency and Cost Efficiency
One of the key advantages of Mutual Funds is their transparency and cost efficiency. Unlike ULIPs, which often come with high charges and hidden fees, Mutual Funds typically have lower expense ratios and offer greater clarity regarding fees.

Flexibility and Diversification
Mutual Funds provide investors with flexibility and diversification opportunities. With a wide range of funds available across various asset classes and sectors, investors can tailor their portfolio to suit their risk tolerance and financial goals.

Professional Management
Another significant advantage of Mutual Funds is professional fund management. Skilled fund managers actively monitor the market, analyze trends, and make informed investment decisions on behalf of investors. This expertise can potentially lead to better returns compared to self-managed ULIPs.

Liquidity
Mutual Funds offer greater liquidity compared to ULIPs. Investors can easily buy and sell Mutual Fund units based on their financial needs, without incurring hefty charges or facing surrender penalties, as is often the case with ULIPs.

Tax Efficiency
Mutual Funds also offer tax benefits, especially Equity Linked Savings Schemes (ELSS), which provide tax deductions under Section 80C of the Income Tax Act. ULIPs, on the other hand, may have complex tax implications and may not offer the same level of tax efficiency.

Conclusion: Choosing the Right Investment Avenue
While ULIPs may offer insurance coverage along with investment benefits, Mutual Funds often outshine them in terms of transparency, cost efficiency, flexibility, and potential returns. As a Certified Financial Planner, I recommend carefully assessing your investment objectives, risk appetite, and financial needs before making a decision.

Best Regards,
K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ramalingam Kalirajan |6978 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Jul 26, 2024

Asked by Anonymous - Jul 18, 2024Hindi

Money

Hi,sir I am 42 years old, i have savings on pf 6 lakhs from past 15 years till now,invested o. Farm land around 50 lakhs for child ,loan amount is 12 lakhs,and other investment like ulip plan for 10 years so plz suggest is ulip ix better or mf or dorect etf on equity and for the age of 60 per month 1.5 lakhs required suggestion plz suggest ..

Ans: You are 42 years old and have made some significant investments.

Let's assess your financial situation:

Provident Fund Savings: Rs 6 lakhs
Farm Land Investment: Rs 50 lakhs
Outstanding Loan: Rs 12 lakhs
ULIP Plan: Active for 10 years
Your goal is to have a monthly income of Rs 1.5 lakhs at age 60.

Evaluating Current Investments
Provident Fund (PF)
Pros: Safe, guaranteed returns, tax benefits.
Cons: Returns may not outpace inflation.
Farm Land
Pros: Potential for significant appreciation.
Cons: Illiquid, uncertain returns, maintenance costs.
ULIP Plan
Pros: Insurance coverage and investment combined.
Cons: High fees, lower returns compared to mutual funds.
Disadvantages of Direct Funds and ETFs
Direct Funds: Require more active management and expertise. May lead to emotional and rash decisions.
ETFs: Mimic the market, leading to average returns. Lack professional management.
Benefits of Regular Mutual Funds
Professional Management: Expert fund managers handle your investments.
Diversification: Spread risk across various sectors.
Potential for Higher Returns: Actively managed funds aim to outperform the market.
Suggested Investment Strategy
Debt Management
Step 1: Focus on repaying your outstanding loan of Rs 12 lakhs.
Step 2: This will free up funds for investment and reduce interest costs.
Building a Diversified Portfolio
Step 1: Shift focus from ULIPs to mutual funds. Surrender ULIP if it is not performing well.
Step 2: Invest in a mix of large-cap, mid-cap, and flexi-cap mutual funds.
Increasing SIP Contributions
Step 1: Start or increase SIPs in mutual funds. Aim for a substantial monthly contribution.
Step 2: Regular SIPs help in rupee cost averaging and build a disciplined savings habit.
Retirement Planning
Step 1: Calculate the required corpus for a monthly income of Rs 1.5 lakhs at age 60.
Step 2: Regularly invest in mutual funds and PPF to build this corpus.
Insurance Planning
Step 1: Ensure adequate life insurance coverage. Term insurance is cost-effective.
Step 2: Secure health insurance to cover medical expenses in retirement.
Regular Review and Adjustment
Step 1: Regularly review your investment portfolio. Ensure it aligns with your goals.
Step 2: Adjust your investments based on market conditions. Consult with a Certified Financial Planner for guidance.
Final Insights
Your goal of having a monthly income of Rs 1.5 lakhs at age 60 is achievable. With disciplined savings and smart investments, you can secure a bright financial future for your family. Focus on repaying your loan, shifting to mutual funds, and regularly reviewing your investments.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner,

www.holisticinvestment.in

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Mutual Funds, Financial Planning Expert - Answered on Jul 31, 2024

Asked by Anonymous - Jul 23, 2024Hindi

Money

I am a 34 year old IT professional with moderate risk appetite. Should I invest in ULIP like TATA AIA param rakshak for wealth generation or start investing in Mutual Funds. my goal is to generate enough wealth in 10years to support my retirement and my two kids (4 and 2years old) education. I earn around 2L per month

Ans: Assessing Your Current Situation
You are 34 years old.

You earn Rs 2 lakh per month.

You have two kids, aged 4 and 2 years.

Your goal is wealth generation for retirement and kids' education.

Understanding ULIPs
ULIPs combine insurance and investment.

They offer life cover and market-linked returns.

They have a lock-in period of 5 years.

Disadvantages of ULIPs
High charges: Premium allocation, administration, and fund management fees.

Limited flexibility: Fixed allocation between insurance and investment.

Complex structure: Difficult to understand and manage.

Benefits of Mutual Funds
Professionally managed: Fund managers handle investments.

Variety of options: Equity, debt, and hybrid funds.

Flexibility: Adjust investments based on goals and risk.

Actively Managed Funds vs. Index Funds
Actively Managed Funds:

Fund managers aim to outperform the market.

Higher potential returns but higher fees.

Suitable for long-term goals.

Index Funds:

Track a market index.

Lower fees but limited growth potential.

Not ideal for aggressive wealth generation.

Direct Funds vs. Regular Funds
Direct Funds:

Lower expense ratio.

Require self-management.

Suitable for experienced investors.

Regular Funds:

Managed by a Certified Financial Planner (CFP).

Slightly higher fees but professional guidance.

Ideal for less experienced investors.

Recommended Investment Approach
For Wealth Generation:

Choose equity mutual funds.

Aim for long-term growth.

For Children's Education:

Consider balanced or hybrid funds.

Mix of equity and debt for stability.

Steps to Start Investing
Assess Your Risk Appetite:

Moderate risk tolerance means a mix of equity and debt.
Set Clear Goals:

Define the amount needed for retirement and education.
Choose the Right Funds:

Select funds based on performance and alignment with goals.
Regularly Review Investments:

Monitor performance and adjust as needed.
Additional Considerations
Emergency Fund:

Maintain a fund for unexpected expenses.
Insurance:

Ensure adequate life and health cover separate from investments.
Tax Efficiency:

Invest in tax-saving funds for better returns.
Final Insights
ULIPs are not ideal for aggressive wealth generation.

Mutual funds offer better flexibility and growth potential.

Align investments with your goals and risk tolerance.

Regularly review and adjust your portfolio for optimal performance.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Moneywize |174 Answers |Ask -Follow

Financial Planner - Answered on Sep 21, 2024

Asked by Anonymous - Sep 20, 2024Hindi

Money

I’m Neha from Thane. I’m 35, married with one son aged 7. I have a term insurance policy for Rs 1 crore. Should I also consider a ULIP for additional savings, or is continuing with mutual funds a better option?

Ans: Hi Neha! Considering that you already have a term insurance policy for Rs 1 crore, it's great that your family is covered in case of unforeseen events. When deciding between ULIPs (Unit Linked Insurance Plans) and mutual funds for savings and investment, here are some key points to consider:

ULIP vs Mutual Funds:

1. Cost and Charges:

ULIPs often have higher charges, such as premium allocation charges, mortality charges, and fund management fees. Mutual funds, on the other hand, usually have lower expense ratios, especially if you are investing in direct plans.

2. Flexibility:

Mutual funds offer more flexibility in terms of choosing different fund categories (large-cap, mid-cap, small-cap, debt, etc.), switching between funds, and liquidity.

ULIPs typically lock in your money for five years and come with restrictions on switching funds.

3. Investment Returns:

Mutual funds tend to offer more transparency in terms of returns and performance as they are pure investment vehicles. ULIPs, being a combination of insurance and investment, may offer lower returns compared to dedicated mutual funds.

4. Tax Benefits:

ULIPs offer tax benefits under Section 80C of the Income Tax Act, just like ELSS (Equity Linked Savings Scheme) mutual funds. However, after the budget of 2021, the tax-free advantage for ULIPs is limited if the annual premium exceeds Rs 2.5 lakh.

5. Purpose:

ULIPs mix insurance and investment, but it’s generally recommended to keep insurance and investments separate for better clarity and optimisation. Term insurance covers risk, while mutual funds focus purely on growing your wealth.

6. Recommendation:

Since you already have a good term insurance plan, it would be more beneficial to continue with or increase your investment in mutual funds. Mutual funds will provide better flexibility, potential returns, and lower costs in the long run compared to ULIPs. You can choose funds based on your risk profile and financial goals.

Latest Questions

Milind Vadjikar |587 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Nov 06, 2024

Asked by Anonymous - Nov 05, 2024Hindi

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Hi Sir, Im 43 married with 2 kids(10 Boy & 5 Girl) . We have 2 lakhs in Stocks and 2 lakhs invested in SIP, Couple of plots is there which we have taken as investments and we are living in a rental house. Further , Im investing Approx 50,000 monthly in ULIP & Term of 2C..... With my age in consideration, how much I will have to invest in a lumpsum to have 5 Cr after 15 years...Il appreciate if you can share more options of 3 Cr etc.

Ans: Hello;

If you invest lumpsum 92 L now in a combination of pure equity mutual funds, it may yield you corpus of 5 Crs after 15 years.

If you invest lumpsum of 55 L now in a combination of pure equity mutual funds, it may yield you a corpus of 3 Crs after 15 years.

A modest return of 12% is assumed from pure equity mutual funds.

Happy Investing;

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Question by vengadesh - Nov 06, 2024Hindi

Money

Sir. i am working in govt sector, i am eligible for CGHS medical scheme. I want to take health insurance, i am living in bangalore, i am a senior group A officer. is there a need of health insurance if yes which plan i should take, how much amount the policy should cater.. Please give suggestion thinking my CGHS benefits..

Ans: Hello;

What is your current entitlement under CGHS scheme based on your grade/seniority?

Based on your feedback we can provide you optimal suggestions.

Best wishes;

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Question by vengadesh - Nov 06, 2024Hindi

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Hi.. i am 44 now , working in govt, getting a gross salary of 3 Lakhs per month..in hand 2 lakhs after deduction HRA and income tax.. i am eligible for pension. I want to get 3 lakhs per month after retirement and also want to build a corpus of 5 crores .. 16 years service left. Please suggest .. i can save 1 lakh/month from june 2025. As of now if i retire i will get 1 lakh per month as pension. but planning to retire after 60 years

Ans: Hello;

You may begin a monthly sip into a combination of pure equity mutual funds (70 K) and hybrid funds like balanced advantage and multi asset funds(30 K).

This mix may yield you a corpus of 5.36 Cr after 16 years.(Returns from pure equity mutual funds are assumed at 12% and from hybrid mutual funds at 9%)

If you use this corpus to buy an immediate annuity from a life insurance company it may provide you a monthly payout of around 2 L (post-tax).(6.5% annuity rate considered)

This coupled with your pension of 1 L+ will ensure monthly income of 3 L+ in retirement.

As you reach closer to your retirement please ensure to transfer your gains to liquid or ultra short duration debt funds to protect it against market volatility.

Ensure a good critical illness cover, in retirement, despite Govt health schemes.

Happy Investing;

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My daughter willing to study B.E chemistry or medical engineering. Plz say what are the job scope for this courses

Ans: Job scope for B.E. in chemical engineering is limited. B.E. in medical engineering is a new thing to me. Are you sure about the name of the course?

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Relationships Expert, Mind Coach - Answered on Nov 06, 2024

Asked by Anonymous - Nov 05, 2024Hindi

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Hi, I am in a interfaith relationship since 6+ years and I have the sweetest and most well mannered and caring guy as my boyfriend. I was born as a Hindu and he’s been adopted in a Muslim family. Though we both are agnostic and religion barely made any difference or issues in between us. My family knows about us since the last 2 years and his family has accepted us and is willing to talk to my family. Whereas, my father was initially understanding and willing to talk but now he has turned totally against this relationship after my mother,brother and other relatives have influenced them. They have asked me to choose between them and my love. I told them that by doing this they’ve left me no choice but to die, in which they taunted me asking in which ritual my body will be cremated-the hindu way or the Muslim. I am mentally and emotionally broken and cant seem to think straight. It feels like i am being dragged into a blackhole and cant really come out of it. What should i do?

Ans: give yourself permission to focus on your mental and emotional well-being. It can be incredibly helpful to talk to a counselor or therapist who can give you a safe space to work through the overwhelming emotions you’re feeling. These conversations could give you clarity and strength to make decisions that prioritize your happiness and peace.

At some point, it may be worth approaching your family again, but with a different mindset—one that isn’t trying to change their beliefs but instead focuses on helping them see your happiness as a priority. You could try to appeal to them on the basis of your well-being, asking them to look beyond religious labels to see the person who loves and cares for you. They may need time, and they may resist, but sometimes families gradually come to understand that happiness in a relationship matters more than anything else.

In the meantime, lean on your boyfriend for support, and let him know how much you’re struggling. If he’s as caring and understanding as you’ve described, he’ll stand by you through this and will want to help you feel less alone. Whatever you decide, make sure it’s a choice you feel aligns with your own sense of self and future. The love you feel is real, and though this journey is incredibly hard, there is a path forward—even if it doesn’t feel clear right now.

Kanchan Rai |391 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Nov 06, 2024

Asked by Anonymous - Oct 12, 2024

Relationship

This will be kind of a long story... I've been in a relationship for over 4 years now and I really love spending time with my girlfriend and I never cheated on her...like she is the one, but as time goes I seem to have a different opinion of what I want in life...for she doesn't want kids and I do and sometimes that's a reason for discussion but not over-escalating it just ends there...lately we don't even have sex like about 2 months now...she fell ill for some time and now she is ok we barely get to go out. So I started this new job on some kind of high position within the company like a month ago and we had an after-office time, there was this girl there that is in another department...didn't really called my attention in there, we sat in a table and started talking and drinking, in one of the things we talked I spoke about my current relationship (everyone did) and even metioned the I want kids problem. The party was over finished in that place and we hit a club. In there of course booze was up and this girl just started dancing all sexy on me and I was like oookay then...well of course alcohol gets the best or worst of us so I started dancing with her and In one of those moments we were sooo close and I yes...I tried to kiss her...she just laughed and avoided in the first time but then...we were kissing and touching just too passionaly that having the clothes on was really annoying ..well I was really drunk, problem for me was about our other colleagues...will they report this...will she tell? (this can really go against me as I am new in the company) will others tell (because everyone saw us) I didn't wrote her later because I was too damn embarrassed, in the next week I was like so nervous at the job and when we cross paths we just say hi in a normal way and this just brings thoughts to my head of guilt and embarrassement but NOT REGRETTING thoughts... this no regret thing is driving me crazy...I see her and start looking at her in a different way, like I pay attention to the way she dress, the way she has her hair, she walks and I said to myself...WTF IS HAPPENING am I falling gor this girl? So I wrote her and wanted to clear up some things...if she told someone (but it was more line an excuse just to talk to her about what happened and try to know what she felt), but she justs...DOESN'T HAVE IDEA WHAT I AM TALKING ABOUT...really? And as you can imagine we didn't get to talk about this and honestly in my head I get lot of mixed ideas about this reaction of her...like the things I said before anything happened...like my relationship thing or she is just applying some sort of strategy or It was just one night rush and FULL of regrets now... but c'mon we see each other everyday. I KNOW I did bad for cheating on my girlfriend but the emotion there is absolutely gone and the thing with this girl...well when we talked in the bar I spoke of wanting to have kids and everything maybe she also wants it? Did she took all the first interaction and I was really being attractive there? Well what should I do? I am not writting her anymore to push her to talk...her reaction of ignoring what happened gives me the right sign to stop it there I want her really bad and I'm about to give up my relationship in these days...

Ans: Given how strong the chemistry was with this colleague, it’s understandable that her recent dismissal of the incident feels confusing. There’s a chance that for her, it was an impulsive, one-time event—something she might not want to pursue further for her own reasons. Her behavior could be a signal that, despite the attraction, she wants to keep things professional, possibly feeling it would complicate both of your lives to acknowledge what happened. This can feel conflicting, especially since the experience brought out emotions you might not have felt in a while.

The real question here is what these events are showing you about your current relationship. The excitement and interest you felt for someone new suggest that you may be craving a deeper connection or more alignment with a partner on important life issues. Before you make any big decisions, I’d recommend having an open, honest conversation with your girlfriend about where you both see yourselves in the future. Discuss how each of you views things like children, intimacy, and growth in the relationship. Sharing your thoughts might bring out clarity on whether you’re both on the same path or if it’s time to consider parting ways.

Remember, whatever happens with this colleague, there’s value in addressing the core issues in your relationship first. Taking time to be clear about what you want in a partnership—whether it’s more shared goals, connection, or family—can help you find fulfillment in the long run, whether it’s with your current partner or someone new.

Radheshyam Zanwar |1028 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Nov 06, 2024

Question by Ronald - Nov 06, 2024Hindi

Career

Sir, My daughter is in grade XII, learning commerce with psychology. She wants to pursue in psychology after XII. Please can you advise options in India for studying psychology and the future career prospects. Thanks

Ans: Hello Ronald.
Pleased to hear that your daughter is keenly interested in pursuing psychology. It is a versatile and growing field in India.
Here are some options after XII grade:
Undergraduate Programs in Psychology: (1) BA (Hons) in Psychology (2) B.Sc. in Psychology (3) BA in Applied Psychology

Top colleges in India offering undergraduate psychology programs:
(1) Lady Shri Ram College for Women (Delhi University), Delhi
(2) Jesus and Mary College (Delhi University), Delhi
(3) Christ University, Bangalore
(4) Fergusson College, Pune
(5) St. Xavier’s College, Mumbai
(5) Banaras Hindu University (BHU), Varanasi

After completing UG courses, there are some Postgraduate Specialization courses available in Psychology.
Future Growth and Demand in Psychology are increasing in India providing stable opportunities in the sector.

If satisfied, please like and follow me.
If dissatisfied with the reply, please ask again without hesitation.
Thanks.

Radheshyam

Radheshyam Zanwar |1028 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Nov 06, 2024

Asked by Anonymous - Nov 06, 2024Hindi

Career

sir main ek pilot bana chahata hu per main ek middle class family se bilong karta hu kya aap mhuje bata sakte hain ki esi koi airline clss hain jaha kam paise lagte hu

Ans: Hello.
To become a pilot, You can pursue a bachelor's or associate degree in aviation, aviation technology, or aerospace from a qualified aviation program. To learn more on how to become a pilot, please copy and paste the following link into your browser.
https://atpflightschool.com/

If satisfied, please like and follow me.
If dissatisfied with the reply, please ask again without hesitation.
Thanks.

Radheshyam

Ramalingam Kalirajan |6978 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Nov 06, 2024

Question by Vijaya - Nov 06, 2024Hindi

Money

Hi i am naveen i have to earn 200000 per month please help me please

Ans: To achieve a monthly income of Rs. 2,00,000, focus on creating a balanced, diversified portfolio with steady and growth-oriented investments.

Start by investing in Fixed Deposits and Debt Funds for stable returns. Add dividend-paying mutual funds for regular income, which could yield 5-7% annually. If you have property or funds to invest in real estate rentals, these can provide reliable cash flow.

For long-term growth, invest in equity mutual funds through SIPs, targeting 10-12% returns. Over time, you could set up a Systematic Withdrawal Plan (SWP) from these funds, generating monthly income.

As your portfolio grows, review it regularly with a Certified Financial Planner (CFP) to adjust according to your income needs. This approach, blending stability with growth, can help you consistently reach your Rs. 2,00,000 monthly goal.

Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

See more questions »

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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