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I want to know more about HDFC Life Super Income Plan. Is it safe to invest in this plan? Also, what kind of plan is HDFC Crest?
-Saumil Shah
HDFC Life Super Income Plan is a money back policy and HDFC SL Crest is a Unit Linked Insurance Plan (ULIP). Both these plans are hybrid products with insurance and investment combined in them. We do not recommend insurance plans with investment element in them for the purpose of investment. Such plans are costly and they offer very small insurance cover and they also don't offer great returns. We always recommend pure term insurance plans to buy an adequate life insurance cover. And for investments, you should choose equity mutual funds for long-term goals of five years and above. Equity has the potential to offer better returns than other assets over a long period.
If you are a new comer to the stock market, choose a top-rated balanced scheme and start investing every month via a Systematic Investment Plan (SIP). If you are familiar with the stock market, you can invest in a diversified equity scheme. You must continue with your SIP investments irrespective of the market conditions. This will help you to average your purchase cost and enhance your returns.
This article was originally published on March 07, 2016.
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
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