HDFC Life Insurance ClassicAssure Plus

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The plan is expensive and offers low returns in the range of 4-5 per cent

PRODUCT FEATURES: This is a participating traditional insurance plan. In case, you pay premiums for the full term, you are given a guaranteed reversionary bonus of 3 per cent per annum during the premium paying term. The plan offers three policy term options ­ 10, 15 and 20 years. The premium paying term can be seven or 10 years. The minimum premium has to be Rs 12,000 in case you choose to pay your premium annually, Rs 6,000 if you choose to pay your premium half-yearly, Rs 3000 in case of a quarterly payment, and Rs 1000 if you pay your premium monthly.

ENTRY AGE: The entry age for the plan can be 30 days to 60 years.

DEATH & MATURITY BENEFITS: On survival till the maturity date and on full payment of premiums due throughout the premium paying term, you will receive the sum assured plus the accrued bonuses. On death of the life assured, the nominee would be paid the higher of the sum assured, or 10 times 105 annualised premium, or per cent of the pre miums paid in addition to the accrued bonuses.

SURRENDER VALUE: The policy will acquire a guaranteed surrender value (GSV) provided value (GSV) provided two full year's premium has been paid for premium paying term of seven years and three full year's premium has been paid for a premium paying term of 10 years. However, the GSV varies between 30 per cent and 50 per cent of the premiums paid in the initial years and between 70 per cent and 90 per cent during the end of the policy term.

PREMIUM: For a 35-year-old person, with a policy term of 20 years and a premium paying term of 10 years, his premium for a Rs 5,00,000 cover excluding service tax would be as high as Rs 64,170. Besides, you will have to pay a service tax of 3.09 per cent in the first policy year and 1.56 per cent from the second year onwards.

  The plan is expensive and offers low returns in the range of 4-5 per cent. You should instead buy a term insurance with a cover of 10-15 times your annual income that would work out to be much cheaper, and invest the remaining surplus in a Public Provident Fund (PPF). For instance, a person aged 35 years can get a term insurance plan of Rs 50 lakh for a premium of Rs 14,543. PPF this year is offering 8.7 per cent return. Even if the returns in a PPF for the coming years fall, they would never go as low as 4 per cent as offered in this plan.

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. ICICI Prudential Tax Plan Invest Online
2. HDFC TaxSaver Invest Online
3. DSP BlackRock Tax Saver Fund Invest Online
4. Reliance Tax Saver (ELSS) Fund Invest Online
5. Birla Sun Life Tax Relief '96 Invest Online
6. IDFC Tax Advantage (ELSS) Fund Invest Online
7. SBI Magnum Tax Gain Scheme 1993 Invest Online
8. Sundaram Tax Saver Invest Online
9. Edelweiss ELSS Invest Online

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Best Performing Mutual Funds

1. Largecap Funds Invest Online
1. DSP BlackRock Top 100 Fund
2. ICICI Prudential Focused Blue Chip Fund
3. Birla Sun Life Front Line Equity Fund
2. Large and Midcap Funds Invest Online

1. ICICI Prudential Dynamic Plan
2. HDFC Top 200 Fund
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2. Mid and SmallCap Funds Invest Online

1. Reliance Equity Opportunities Fund
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3. Small and MicroCap Funds Invest Online

1. DSP BlackRock MicroCap Fund
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1. ICICI Prudential Tax Plan
2. HDFC Taxsaver
3. DSP BlackRock Tax Saver Fund
4. Reliance Tax Saver (ELSS) Fund
6. Gold Mutual Funds Invest Online

1. Relaince Gold Savings Fund
2. ICICI Prudential Regular Gold Savings Fund
3. HDFC Gold Fund