Hey floks

I'm 32 and only earner of family and need your suggestion on the investment.

1. 12k im investing in SIP monthly.
2. 50k yearly I'm doing for terms insurance .
3. 60k yearly I'm doing as LIC
4. 15k monthly I'm keeping on saving for any unavoidable emmergy.

I have some 15k on loan debited which will be closed by 2026.

Considering the influence rate will it be sufficient to survive post retirement ?

Request advice ?

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Stop 60k in LIC as they are not beneficial in long term.
Average returns are around 5-6%.
50k for term insurance? Are you sure it's a pure term insurance plan? If yes how much is the cover amount?

My advice is to shift the LIC amount to mutual funds. Additionally get health insurance for you and your family.
Health insurance and term insurance are very basic needs for the financial planning.

like

Term plan is too costly. Try LIC online term plan. I pay 20k for 1 cr cover. Same age.
Stop investments in LIC and put that money in an index fund. Increase sip if possible

like

Thanks dear

Yes 50k for terms insurance I take it from Tata aia and the coverage is 1.3 cr for normal death and 90L for accidental.

I have mediclaim for my immediate family and parents.

And 60L life insurance I have kept for some secure income.

But will this be enough for peaceful retirements

For 32 years of age, 50k looks too high for a pure term plan of just 1 Cr cover
Check once if that's a ulip or premium return something like that
Or are u paying on reduced term like 10 years payment for the whole cover?

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It will be helpful to understand your income, expenses and in addition these information will help to create a proper plan...

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