I would like to know if there is any such LIC policy which can give 3-5 crores after 15-20 Years from now. My age is 39 now and my salary is 35k in hand and I am single unmarried and not interested in marriage and all. So I want to know if there is any such policy available or anything close to that. Experts and ppl who already have it plz provide your suggestions or comment
1) Firstly buy a good mediclaim policy which you should continue in your retirement years.This will take care of some sudden medical expences which may come up.
2) You have to invest minimum Rs 15,000 per month in SIP and step up your investments by 5 % every year in a diversified large cap/Multicap or index mutual fund which should give you 11-12 % CAGR.....so in 20 years more you will accumalate total funds of 1.75 Cr - 2 Cr. Any insurance investment is unlikely to give you this return.
3) Time is running out..start as early as possible...
Best wishes for your happy retirement planning and execution of the plan....
Smart_trade