Skip to main content

How to make Rs 1 crore through Insurance Plan?

 

Are you aspiring to develop a retirement corpus of Rs 1 crore in a period of 15 years but worried about your investment capacity? Do not worry. There are potential ways through which you can reach your target without any difficulty.

The only thing you have to ensure is that you are able to invest Rs 5 lakh every year for a period of at least 7 years. Yes, you do not have to invest for all the 15 years. Just invest Rs 35 lakh spread over 7 years and then reap the benefits after 15 years.

How to go about it?

There are some certain insurance plans which can help you achieve this magic number of Rs 1 crore. Let's discuss those plans here.

HDFC Life's Classic Assure Plan is one of the best plans which can help you reach your goals in a hassle free manner. Just keep paying the premium amount of Rs 5 lakh every year and you can expect a pay back of Rs 1 crore after 15 years.

 

We are assuming that your premium investment yields returns to the tune of 12 per cent a year. This is the average rate of return and if the returns go higher, you may end up achieving much more that Rs 1 crore.

For instance, if your insurance plan is able to generate returns of 15 per cent a year, then you can get a corpus of Rs 1.30 crore in the same period. That's the power of compounding returns. A slight upsurge can bring you great benefits.

Given the investment scenario in the Indian market, the coming years are going to be promising ones and there are possibilities that your investments bring far superior returns.

Meanwhile, during the policy premium payment period, you can claim tax benefit of up to Rs 1.5 lakh under section 80C of the Income Tax Act. That means, if your annual income falls under the bracket of 20 per cent, you will straightaway save Rs 30,000 of tax every year.

If the tax bracket is 30 per cent, then this benefit will go up to Rs 45,000 a year. When you multiply this tax saving by 7 years, which is your premium payment term, the total comes anywhere from Rs 2.10 lakh to Rs 3.15 lakh.

There are several other benefits attached to the Classic Assure Plan. Of course, since it is a life insurance plan, you will get a 'sum insured' value of Rs 25 lakh and death benefits of around Rs 50 lakh.

What are the other options?

If you wish to reduce the period of pay out, then you have one more option which is a good one. HDFC Personal Pension Plan is the plan which can bring you Rs 1 crore in a period of 10 years. Just that you have to pay the same amount of Rs 5 lakh for 10 years. That means when you pay Rs 50 lakh spread over a period of 10 years, then you can receive an amount of Rs 1 crore.

 

Are there any further advantages?

The above plans make a great proposition given the fact that you do not have to do anything. Just invest and get returns after a certain time period. It is unlike stock markets or mutual funds where you have to keep an eye over your investments.

If the stock market is going bad, you have to exit from the market at the right time. But with the aforementioned insurance plans, you do not have to worry about the market movements.

That's the kind of peace and smooth ride you can expect. Plus there are benefits attached to life insurance.

These plans bring a complete package for you. You are able to secure your retirement plus your family's financial profile in case you go through a severe incident of death. The plans help you fulfill your responsibilities in a much more prudent manner.

So why to put your dreams at risk and go for risky investment in stock markets and other instruments? You can go for bank instruments but the downside is that you do not get tax benefits and life risk coverage. Also, the returns are quite average at 8-9 per cent a year.

Today, with the reforms in the insurance market, life insurance plans are more of savings driven investment plans than just risk coverage tools. Choice is yours!

-----------------------------------------------
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016

Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

-----------------------------------------------

Popular posts from this blog

Stick to Good Fund Manager who Can Multiply Your Investment

A manager may be the difference between the best and worst funds. Here's how you can find the right one    Does a mutual fund manager make a difference to your investment? The answer may not be as easy as you think, since most best-performing mutual funds have moved away from individualistic fund management to process-driven methods, limiting the scope of an individual's role in investment decisions. In fact, many fund managers would speak at length about how the "system" their fund house has in place makes their task of picking stocks easy even though it restricts their freedom. Still, the question is important, especially after recent reports that the Securities and Exchange Board of India ( Sebi ) may ask fund managers to disclose to investors their track record of managing money. Let us take a look at the universe of large-cap funds over the past five years. According to Value Research, an independent mutual fund tracking firm, the topper in the category is DSP...
Read more

Tata Fixed Income Portfolio Fund dividend

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)       Tata Mutual Fund has announced dividend under the dividend option of Tata Fixed Income Portfolio Scheme B2 Plan A-DQ, Tata Fixed Income Portfolio Scheme B2 Reg-DQ and Tata Fixed Income Portfolio Scheme B2 Direct-DQ. The record date has been fixed as August 29, 2013. Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C. Invest Tax Saving Mutual Funds Onlin...
Read more

NRIs and direct taxes code (DTC)

DTC Proposes To Do Away With Special Provision That Allows NRIs Liberalised Duration Of Stay In Country      THE new direct taxes code could bring a large number of global Indians under the tax net, as it does away with a provision that allowed individuals to escape tax in any country citing double tax avoidance.    The new legislation, introduced in Parliament on Monday, says an individual shall be a resident of India in any financial year if he is in the country for more than 59 days in that year, and has been has been India for more 365 days in four preceding financial years. A number of Indian industrialists including Vedanta's Anil Agarwal and Essar's Ravi Ruia have acquired non-resident status over the years.    The DTC has only attempted to clean up the provision in line with the laws globally. A phrase "being outside India" in the existing income tax law exempted individuals who stay outside the country for six months from paying taxes. This was prone ...
Read more

How to gauge the risk profile of your mutual fund portfolio?

MUTUAL funds are considered to be an investment option for those who do not generally devote a lot of time to monitoring and managing their portfolios. Investors experience both good as well as tough times as far as mutual fund investments are concerned. But while evaluating the portfolio of their equity mutual fund holdings there are a few points that one should check to know about the level of risk that they are facing. Often there are situations where there is a higher risk than what was estimated initially. Here are a few ways to evaluate various risk levels. Individual holding exposure : The portfolio of the equity fund where one has invested or plans to invest needs to be scrutinised to see whether the risk levels are such that could lead to a larger volatility in the holdings. Depending upon this factor and the risk taking ability of the investor the choice about a particular fund as an investment should be made. One key point to watch out is whether there is a large ex...
Read more

Health insurance guide - Part I

Insurance, by definition, is morbid. What if I die suddenly? What if my home caught fire? What if I had to undergo expensive medical treatment? What if something that I thought happened only to others befell me? Insurers, who work with large samples, calculate the probability of such an event and, hence, the possibility of them having to pay out a sum of money to mitigate, to the extent possible, the effects of that disaster. However, the possibility of you undergoing some kind of expensive medical treatment during your lifetime is far more likely than you dying suddenly or your house burning down. Given that costs at private healthcare facilities, where you are most likely to land up, is high, and, doubling every four years 10 months or so, the rest of your money life could easily go out of whack if you had to incur such expenses. Just 12 per cent of India's population is covered with some sort of health insurance. Pared to the bone, for a comparatively small price, health insu...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now