HDFC policy with >30% assured returns
How's HDFC endowment policy? They're claiming a >30% return on the principal amount. Are there any risks involved with such a policy? Anyone invested in such policies?
Invincible87
Stealth
8 months ago
STAY AWAY
Invincible87
Stealth
8 months ago
Endowment Policies are money making products for their company and not to the buyers.
Keep investment and insurance separate.
If you want insurance, buy simple term life policy. If you want investment, buy stocks or MF. I would suggest to avoid fancy products which we don’t understand
It's not for term/life insurance that I'm taking this but purely as an investment option. Since it's giving assured 30% returns.
Invincible87
Stealth
8 months ago
Ask them to give the assurance about the same on a Stamp Paper as a Legal Document and tell them after that You will invest.
Better, I too will invest as if I get 30% return in 1 Year, I can practically retire in 5 Years.
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Sometimes you need to lose money in endowment plans to realise it's never an investment, so take the life lesson by yourself.
Good amount of discussion happened in this post:
https://share.gvine.app/xnputgzgusFJQPxi7
ULIP investment worth it??
Again over what period? Does it have a min lock-in? Max term?
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Think from first principles
All the endowment plan invest in g-secs which yield around 7-8% *now*.
Insurance company takes a cut of 1-2%.
On all premiums you are taxed under GST
You are technical investing 82% of your premium
In the end your yield should be around 4-5.5% which is absimal not even beating the inflation
Never mix insurance and investments. Simple. I was also contacted by my RM for this, this is just waste of money and figures are distorted. Save your money and rather invest same money in stocks and take insurance from a good provider
SabChangaSi
Stealth
8 months ago
Please share the plan link with your referral code here. If 30% is assured, all the viners will buy you
Klutz
Stealth
8 months ago
Date wise cash flows maang lo agent se
Whoever is pitching to you
Guys confirmed with them. It's not 30% but 30k fixed every year lol 😹
Definitely not worth it. Thanks for all your suggestions.
Cafeinatedpragmatist
Stealth
8 months ago
paisewallah
Stealth
8 months ago
Buy HDFC shares instead (DYOR)