Please review my insurance portfolio and suggest any changes?

[Luv_2012]

I am Luv, 28 Years old.
I have 2 LIC Plans as below -
1. Jeevan saral - Rs 15312 inversting in every 3 months.
2. Samrridhi Plus - Rs 15000 Rs - Yearly


Salary - 40,000 Rs per month

Please review my portfolio and suggest any changes.

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[Aman]

You need to review your insurance portfolio. Always buy term insurance and invest remaining in MFs.

[>take]

LIC Samradhi Plus - Costly product
Premium Allocation Charges: 6% in first year & 4.5% thereafter.
Fund Management Charges: 0.9% every year.
Guarantee Charges: 0.4% every year.
Policy Administration charge in LIC Samridhi Plus 30/- per month during the first policy year and 30/- per month escalating at 3% p.a. thereafter, throughout the term of the policy shall be levied.

[>take]

Also always select annual premium payment mode to save money.

[Madhura]

I am Luv, 28 Years old.
I have 2 LIC Plans as below -
1. Jeevan saral - Rs 15312 inversting in every 3 months.
2. Samrridhi Plus - Rs 15000 Rs - Yearly

Salary - 40,000 Rs per month

Please review my portfolio and suggest any changes.

First buy term insurance plan. Check here (http://www.policywala.com/lincalculator.php)- how much life insurance you need?

Then surrender both your insurance policies.

[Luv_2012]

First buy term insurance plan. Check here - how much life insurance you need?
Then surrender both your insurance policies.

Which term plan do you suggest?

[>take]

Which term plan do you suggest?

Check here - Top 5 Online Term Insurance Plans (2011)