I have bought an LIC endowment plan, Jeevan Saral, where I pay Rs 17,000 every month. Additionally, till the 15th year, I'm entitled to Insurance cover (Rs 47 lakh), Accidental cover (Rs 72 lakh) & a Loan of up to Rs 10 lakh with very little interest. Also, I already have a term insurance of Rs 1 crore and mediclaim of Rs 5 lakh per year. Should I continue investing in LIC or switch to SIP and invest in a large cap or index fund or any debt/flexi-cap fund? Maybe you are trying to do fixed income investing through the endowment plan but that can be done a lot more efficiently through a debt mutual fund or a fixed income mutual fund.

Source: India Today January 13, 2024 03:23 UTC