Jigessh Patel says, Hi ,Welcome everyone , Lets chat
paul asked, sir, i took a hsg loan 6 lakhs. shall i take loan insurance or personal life insurance of LIC? which is cheaper and better?
Jigessh Patel answers, Hi, suggested you buy a seperate Term Policy from LIc , as the Loan isurance policy charges expensive in the first 5 years
xyz asked, For youngsters which type of policy do you suggest? I think it is always better to go in for term insurance.
Jigessh Patel answers, Hi, you havent mentioned your age and your purpose of Insurance. is it only for Protection of future income or Also Savings ?
shiv asked, hi, i'm working as as senior s.w engg and taken a lic policy. can i take another policy for my wife? and can i get tax benefits for that policy too? Thanx in Advance. Pls reply
Jigessh Patel answers, yes, you can take policy for your wife and Also you can get the tax benefit , when you pay the premium from your bank account and make your self the proposer of her policy
xyz asked, Do you think that LIC will fulfill the commitment of gurantted returns on their policy called " Jeevan Shree" ? In case if they are not able to fulfill the committed amount what are the options that a policy holder has?
Jigessh Patel answers, Yes LIC will be able to fulfill its commitment. As its got excellent Reserves and also they are managing their funds well. They have promissed Bonuses , depending on which Jeevan shree Policy you have bought.
saurabh asked, wanna know abt cheapest term plan for age of 25, non-smkoing/drinking,healthy male for maximum tenure available
Jigessh Patel answers, Below 10 lakhs SA OM Kotak Term policy for Non Smokers is better. Above 25 Lakhs Sum assured Birla Sun Life Policies are cheaper
murali asked, Hi R pension ulips good in long term
Jigessh Patel answers, they seem good
murali asked, Hi R pension ulips good in long term
Jigessh Patel answers, they seem good
ParveenKalra asked, Can we expect good returns from ULIP in long terms?
Jigessh Patel answers, Private players are good in the ULIP plans. Suggest you to compare a few companies similar plans .In the long Run ( 10 years )ULIP will definately give good returns. In most ULIP plans the Risk of investment is on the Policy holder. therefore suggest you go for Balanced option ( 35 % Equity and bal 65 % in Gov securities )
vinay asked, Hi Jigessh, I have purchased a ULIP for 10 years from Metlife. Please let me know how safe is it? And also do let me know, whether the higher returns are sustainable.
Jigessh Patel answers, Hi, Metlife company is absolutely safe and is one of largest Life ins comp in the world. I would suggest you expect 10 to 12 % in the long Run under ULIP plans.
roopsingh asked, which is the best policy in terms of returns?
Jigessh Patel answers, Single premium ULIP plans with more equity exposure are likely to give more returns. pls compare a few comp before buying for best deal.
ratnakar asked, I have 1 year female kid and want to get a insurance policy for her future education and marriege. which is the best policy for kids for future education and other needs.
Jigessh Patel answers, First I would suggest you to buy Correct Insurance SA for yourself. ULIP plans will give more returns for the child in the long run. Incase you buy the plan in your childs name . remember to take the Waiver benefit rider . This rider will pay all the remaining premiums for this child policy in the case the parent who is paying the premium expires.
ParveenKalra asked, My Total Income is 5.0Lacs per annum (Gross). My present insurance Cover is abpout 19 Lacs. I am Married I have 02 Childeren one boy (5 Years)and one girl(7 months) .How much extra insurance do i need?
Jigessh Patel answers, Hi you havent mentinoed your age ? The total Sum Assured for you should be min 50 Lakhs . Incase you want to cover inflation / provision fo childrens education etc you should be covered for atleast 1 crore SA.
snprasad asked, I have a total annual income of Rs. 600000. How much insurance cover do I need
Jigessh Patel answers, Depending upon your age and other financial situation ( Liabilities / Future Planning etc ) the correct Sum assured can be suggested. Suggested to buy atleast 10 X Annual income SA and if budget permits 20 times X Annual income insurance( SA ) . You can buy large cover by buying Pure term Cover in mimimum premium.
Gopal asked, Sir, I have 2 questions 1) How many years of a person's income (annually)
would you recommend for term insurance coverage? 2) Supposing a person has policies from multiple insurers, would there be difficulties in claiming the amount from each insurer, in the event of death? Thanks, Gopal
Jigessh Patel answers, Term Insurance is mainly bought buy people due to following reasons. 1) To Protect against Loan liabilities 2) Want to buy insurance for Protection purpose and have limited funds for premium. 3) People who feel that they can manage their funds better by investing in other places directly. they want th eins cover to Manage their Life Risk and not their funds. Term insurance can be bought ( entry age till age 60 ) . Max Cover Term upto age 70
Satya asked, Can you advise, I have invested in Birla Sunlife in Enhancer mode, is it risk for me ?
Jigessh Patel answers, The Enhancer option is very good and is giving consistently good returns since 5 years
hemasunder asked, what is the best health insurance for above 55 parents for there future health needs
Jigessh Patel answers, I prefer New india Insurance mediclaim. Incase they have any existing illnessness. New India Ins Co also have a Mediclaim Plan called Health plus,Where they will get Medical insurance with some terms.
RISHI asked, CAN MEDICAL INSURANCE PEOPLE FORCE US TO TAKE MEDICALIM POLYCY OF RS 1 LAC & ABOVE
Jigessh Patel answers, yes ,depending on the company
vinay1 asked, Hi Jigessh, I have purchased a ULIP(accelerator - 80% equity) for 10 years from METLIFE. Please let me know, how safe is it? Also let me know, if the returns are higher and sustainable in the long run.
Jigessh Patel answers, Hi, as long as you are young and can patiently wait to get returns after 10 years and more this plan option is good. I assume you will be paying the premium for 10 years so that you get the SIP benefit. Incase your age is close to retirement , so much equity exposure is not good
pratim asked, hi jigessh, i am 25. my annual gross is 3.5 lakh. i haven't yet invested this year and i dont yet have an LIC. what do you suggest i invest in to not pay income tax at all and yet save wisely? thanks
Jigessh Patel answers, Hi suggest you to Buy LIC from Protection point of view first. its also a good option to Invest in Insurance and save tax .
pavan asked, For 13yrs,11yrs & 9yrs which insurance policy is better and useful for future studies and security
Jigessh Patel answers, Most insurance plans Returns are good only if you want withdrawl after 10 years. Since the age of children is alredy 13 yrs plus. Single premium ULIP policies will good returns also within 5 yrs. You can invest in Single Premium ULIP plans , in your name ( With min SA 5 times of Single premium amount , to keep maturity Tax free).
hemasunder asked, what is the best health insurance for above 55 parents for their future health needs
Jigessh Patel answers, buy regular Mediclaim policies from any of the GOVT sector. ( such as New india Assurance or Oriental ins ) or Health Plus Mediclaim policy of New India Assurance
Appan asked, Hi, I m working as software engineer, and my age is 25 years. I am healthy. I have mother and an elder sister(married). Around,i am loosing 5,000 Rs as cuttings in my salary at present.please tell any best policy which will suit my situation, and also helpful under tax benefits scheme.
Jigessh Patel answers, all insurance ploicies will give Tax benefits. Suggest you to buy Pure term policy if you have fund limitations .
pankaj asked, my self 37yr and my wife 38yr old planing to buy kotak prefered term plan 15lac for my self and 20lac for my wife it is good, pl ,advise my wife is also working
Jigessh Patel answers, Good planning. Go ahead ,with correct health declarations in application forms. As in Prefered term plan you have be careful of the health condition declaration.
ganit asked, Hi, are other isnurance companies as relaible as LIC?
Jigessh Patel answers, yes very much. just select the correct plans
sundaresan asked, tell me, which best either Mutual fund or ULIP
Jigessh Patel answers, Both are good. Once You are Insured correctly as per human Life value claculations , you put bal money in Mutual funds on SIP basis.
mari asked, wat is ulip and how is it better over life insurance policices
Jigessh Patel answers, ULIP full form is Unit linked Plans with Insurance. the ULIP plans are More transparent , flexibility ,more liquidity etc, You can get more Cover in thesame premium in comparison to tradition plans
Jigessh Patel says, Goodbye, Nice chatting with your'l, chat with your'l soon next week
