[blorebuddy]

Originally Posted by spookey

Hello friends, need some urgent help here.. on mfuonline i by mistake made a redemption request for all my units and now i am unable to find a way to cancel this redemption request. Any pointers how should i cancel the same ? Thank you.

Try calling customer care. Try sending email from your registered email to customer care

[krish_veera]

Dear Members,

Mirae Assets joins MFU system. (Link - https://www.mfuindia.com/Campaign/mailer-Mirae.html)

My doubt is, I have already started SIP in Mirae Asset website (No Charges, since its a Direct plan). I would like to know if I can integrate the folio via MFU.

Basically, I would like to see all my funds in one place, so that it would be easier to manage.

Any ideas how I can achieve that? Should I stop the SIP via Mirae Asset and start the same in MFU? What would happen to the units I already own?

Thanks,
Veera

[blorebuddy]

Originally Posted by krish_veera

Basically, I would like to see all my funds in one place, so that it would be easier to manage.

Thanks,
Veera

You need not to do anything as MFU should show all the folios as long as they have same PAN no.

[M35]

Dear Bhpians,

How is ICICI Pru EliteWealth II ? I was thinking of taking one with Rs.10 Lac per year for a period of 5 years. It has a lock-in period of 5 years. Please suggest.

[ghodlur]

Originally Posted by M35

Dear Bhpians,

How is ICICI Pru EliteWealth II ? I was thinking of taking one with Rs.10 Lac per year for a period of 5 years. It has a lock-in period of 5 years. Please suggest.

This is a ULIP scheme. What is your goal for this investment? Investing in Mutual funds will provide better returns with no lock in period.

[M35]

Originally Posted by ghodlur

This is a ULIP scheme. What is your goal for this investment? Investing in Mutual funds will provide better returns with no lock in period.

Thanks.
Looking for a long term investment, of course with good returns. ULIP gives tax benefits + insurance cover [around 100%]. The final amount at maturity is tax free for self and nominee.
If not ULIP, any good MF to invest in without lock-in period ?

[ghodlur]

Originally Posted by M35

Looking for a long term investment, of course with good returns. ULIP gives tax benefits + insurance cover [around 100%]. The final amount at maturity is tax free for self and nominee.
If not ULIP, any good MF to invest in without lock-in period ?

1) If the outlook is long term, then nothing like investing in Mutual funds. Opt for the 4 or 5 star rated equity funds (preferably large cap) and instead of lumpsum investing start an SIP. Check out for value research website. Please invest the amount after fixing the goal. For eg. The investment should return Rs 20L after 10 yrs for son's education.... etc.

2) Never mix Insurance and Investment, keep the two always seperate.

3) The final amount on maturity for ULIP is tax free only if the premium paid for the tenure is less than 10% of the Sum assured. If more than 10%, then the entire money received at maturity has to be added under Income from other sources in the income tax return. This shall be taxable at the slab rate applicable to you.

[varoon9999]

Originally Posted by M35

Thanks.
Looking for a long term investment, of course with good returns. ULIP gives tax benefits + insurance cover [around 100%]. The final amount at maturity is tax free for self and nominee.
If not ULIP, any good MF to invest in without lock-in period ?

Dear M35,

MF's are hands down winner when one has to compare them with ULIP's. However ULIP's also have performed well in last 4-5 years span. Credit goes to the Bullish Indian market and to the much streamlined process in place by IRDA.

You need to understand some of the major pointers which basically drives the ULIP and its returns. There are several costs/perils that comes along with ULIP. If researched well before taking a plunge in to ULIP, there is no harm in picking up a decent ULIP product.

Mortality cost plays the vital role in deciding upon the mortality charges, higher the age of sum assured heftier will be the mortality charges, there are several advisers/bankers selling ULIP products to senior citizens and to people who are 50+, such unethical practices are very prominent in our market.

Nevertheless, few other charges that one should always ask the adviser/banker before zeroing down the deal;

1.Mortality charges
2.Premium allocation charges
3.Fund management charge
4.Surrender charges or discontinuance charge
5.Fund switching charges.

All the above mentioned can clearly be seen on the auto populated excel sheet called as "Illustration" of the product which has to be mandatorily signed by the investor, do have a look on it while signing the bunch of papers, copy of Illustration also comes imprinted on your final bond paper once your policy is issued.

PS: Illustration is working of the entire ULIP product which specifies all the charges ,commissions and details of the product on an excel sheet.

lastly the most important is "Commission part", this is where the Insurance companies rips apart their respective customers. Banks and advisers will always have there commissions attached to it whenever they recommend you such products.

It is always advised to buy ULIP from the direct Insurance offices, lets say if you are mulling over to ICICI product, do visit ICICI prudential office and check for all the details as mentioned above.

Thanks.

[graaja]

Originally Posted by M35

Thanks.
Looking for a long term investment, of course with good returns. ULIP gives tax benefits + insurance cover [around 100%]. The final amount at maturity is tax free for self and nominee.
If not ULIP, any good MF to invest in without lock-in period ?

It is best to keep insurance and investment separate. ULIPs have very high running costs and mortality charges, and at the same time the amount of insurance cover is very less.

My suggestion would be to take term insurance for a very good cover which will have a very low premium, and invest in mutual funds. That will be the best way to maximize returns.

If you are looking for tax benefits, then it is better to go with other tax saving instruments than ULIP.

[Eyas337]

Originally Posted by graaja

It is best to keep insurance and investment separate. ULIPs have very high running costs and mortality charges, and at the same time the amount of insurance cover is very less.

My suggestion would be to take term insurance for a very good cover which will have a very low premium, and invest in mutual funds. That will be the best way to maximize returns.

If you are looking for tax benefits, then it is better to go with other tax saving instruments than ULIP.

+1 to above

Never buy ULIPs (or any investment product for say) from bank branches like ICICI or Axis etc., they are least bothered regarding your benefit / well being and only care about their targets. Always go direct mode (either online or the investment retail branch -> not the bank).

Although promises on returns (% wise) look good and come with insurance benefits (coverage very less compared to term plans), considering the various charges on ULIPs (as listed above in one of the post) and lock in periods -> the % returns in reality only benefit the seller and broker mostly and not much to investor.

Long term equity mutual funds + Tax saver funds + Term Insurance -> these are recommended for investment, tax savings and life insurance perspective.

Previously without LTCG tax on equity funds -> they were ideal, now a little less appealing with it being taxed (but still the best available option).

[dmplog]

Originally Posted by Eyas337

Long term equity mutual funds + Tax saver funds + Term Insurance -> these are recommended for investment, tax savings and life insurance perspective..

+1 to that. Golden investment mantra is ' Do not mix insurance with investments'. Fur insurance look no further than Term Insurance.
For investments, you have variety of options from Equity mutual funds, direct shares investment or debt/hybrid/balanced mutual funds.
My recommendation is to stay away from ULIPS.

[carboy]

Brokers get up to 40% of your first year's premium on ULIP/wholelife insurance as a commision.

[graaja]

In my earlier days of investment, I had taken a few ULIPs as I was not aware of the high operating costs and poor insurance coverage. Now I have taken a single term insurance policy, and have started closing all the ULIPs and diverting these funds to regular mutual funds.

[M35]

Thank you all for the valuable inputs. Will stay away from ULIP.
Now, shortlisted a few SBI mutual funds:

• SBI Magnum Balanced Direct Plan-Dividend
• SBI Emerging Businesses Direct Plan-Dividend
• SBI Emerging Businesses Fund-Dividend
• SBI Infrastructure Fund Dividend

Make any sense? or any other to choose from?

[MaxTorque]

Originally Posted by M35

Thank you all for the valuable inputs. Will stay away from ULIP.
Now, shortlisted a few SBI mutual funds:

• SBI Magnum Balanced Direct Plan-Dividend
• SBI Emerging Businesses Direct Plan-Dividend
• SBI Emerging Businesses Fund-Dividend
• SBI Infrastructure Fund Dividend

Make any sense? or any other to choose from?

If long term capital growth is your aim don't go for dividend options, choose dividend reinvestment schemes. A balanced fund is good if you are new to equity fund investments to get a hang of it. Also don't invest only through one fund house, consider spreading your investment across two-three fund houses.