Moneywise-Save Today For A Better Tomorrow

Moneywise-Save Today For A Better Tomorrow

Posted by Sumathi in Moneywise on 01 30th, 2009 | no responses

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Insurance and Investment Ideas

One can strike not only two mangoes with a stone but 3 or 4 at a time. Under today’s circumstances there are people who take unit linked insurance plans from Life Insurance Companies be it LIC, ICICI, HDFC etc., for the purposes of Income Tax benefits and also savings habits, without reading the fine prints and charges inbuilt in the same. On the other hand there are people who take Insurance policies for the sake of risk cover alone which are popularly called as Term Insurance Policies. (In these products the premiums paid are not paid back or there are no benefits if the life assured survives to the term of the policy.)

For all categories of people mentioned in the above para whether you are buying a term plan for the sake of insurance cover, or for the sake of IT purposes or for the sake of investing/savings with an objective of returns in mind, here is a plan from the stable of UTI MUTUAL FUND which gives an breakthrough and a good challenging terms to other competitors in the market. Following are two illustrations which are self explanatory for any one explaining themselves. Illustration one defines for a 25 year old person the investments, returns, charges, etc., from an insurance company. Where else illustration two is of UTI MUTUAL FUND which explains all the points as same as illustration one.

Also note in the scheme from UTI MF a person can invest only for one year and thereafter he need not invest. With regards to the life cover it will be available continuosly throughout the period for a maximum 15 years time by deducting only the charges towards the life premium just by redeeming app.units. Now, after reading both the illustrations I think one should be clear where they should be. The ideas presented here are my own. Should you require clarifications you may feel free to call or mail.

ELSS – TAX SAVER FUNDS PERFORMANCE
S.No	FUND NAME	NAV
S.No	FUND NAME	28/1/2009	5 Years
1	Birla Sun Life Tax Relief ‘96 – Dividend	41.72	6.81
2	Franklin India Tax shield – Growth	92.66	12.45
3	HDFC LT Advantage Fund – Growth	57.08	12.38
4	HDFC TaxSaver – Growth	91.04	17.22
5	ICICI Pru Tax Plan – Growth	52.28	11.99
6	LICMF Tax Plan – Growth	16.76	0.5
7	Magnum Tax gain – Growth	28.9	23.65
8	Principal Personal Tax Saver	44.34	7.98
9	Reliance Tax Saver – Growth	9.31	N.A.
10	Sundaram BNP Paribas TaxSaver – Growth	22.6	21.7
11	Tata Tax Saving Fund	25.77	8.14
12	UTI Equity Tax Savings Plan – Growth	20.26	7.13

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Image credit Andyrob