Investment Plan Vs Fixed Deposit

[The_Killer]

Who are the good insurance providers and insurance plans to consider if planning to have a insurance.

At the market now LOLC is second largest financial institution now. 90 bil loan book per month or similar. I'm not sure of others machan. There are so many bad cases among others. So go for lolc life assurance one.

 

[ride_out]

At the market now LOLC is second largest financial institution now. 90 bil loan book per month or similar. I'm not sure of others machan. There are so many bad cases among others. So go for lolc life assurance one.

Srilankan Insurance awulda ban ?

 

[The_Killer]

Srilankan Insurance awulda ban ?

Claims denne na kiyanawa ne. Ane manda. LOLC nam awulak na. un thamai best rate ekak denne with good facilities. nikan adviser kenekta katha karala estimates ganna oya places walin. ekakata witharak seema wenna epa.

 

[GRO_MAX]

IF I HAVE MONEY I GO SINGAPOR AND HIT HOOKERS AS MUCH AS I CAN.
SORRY FOR MY ENGLISH

 

[GRO_MAX]

Yes your short term investment will be short of 16K but you'll be getting that amount in 10-15 years along with lots of benefits.

Sample calculation:
This is for 15 years Life assurance, Age 26; Male person.

Life assured for: LKR 10,000,000 (ten million)

Yearly - LKR 191,209
Half Yearly - LKR 97,030
Quarterly - LKR 48,516
Monthly - LKR 16,412

What you'll be getting:
At maturity(8% dividend based) - LKR 2,390,085 (two million three hundred ninety thousand eighty-five)

Benefit (Rs)
Additional Life Benefit 30,000,000 (thirty million)
Accidental Death Benefit 10,000,000 (ten million)
Total & Permanent Disability 10,000,000 (ten million)
Partial Permanent Disability 10,000,000 (ten million)
Critical Illness Benefit 3,000,000 (three million)
Hospitalization Benefit per Day 10,000
Family Income Benefit per Month 25,000

So if you accidentally die within policy period your beneficiaries get following:

Basic Sum Assured of Rs. 10,000,000 or Investment account value, which ever is higher, plus additional Life Benefit of Rs. 30,000,000 and Accidental Death Benefit of Rs.10,000,000

= LKR 10,000,000 + LKR 30,000,000 + LKR 10,000,000
= LKR 50,000,000 (fifty million)

Tell your family to put that in a FD and monthly interest will be:

60 months FD, Monthly interest at 13% = LKR six million five hundred thousand per month.

Natural death within policy period your beneficiaries get following:

Basic Sum Assured of Rs. 10,000,000 or Investment account value, which ever is higher, plus additional Life Benefit of Rs. 30,000,000

= LKR 10,000,000 + LKR 30,000,000
= LKR 40,000,000 (fourty million)

Tell your family to put that in a FD and monthly interest will be:

60 months FD, Monthly interest at 13% = LKR five million two hundred thousand per month.

This is obviously a good idea machan, but my intention is to save and invest the savings continuously for two years as I need the money at the end of 2nd year or 3rd year. But need to go for a life insurance soon with a premium not more than 10K. Thanks for the ideas buddy.

 

[HallowMan]

if you withdraw you will end up getting only the savings account interest.

So this works as a savings account? [can this account use for a financial proof when getting a visa????]
​

 

[GRO_MAX]

kalin eka poddak weraduna menna hariyatama

uba maseta 10,000k FD danawa kiyala hithapan. FD rate eka 10% kiyala hithapan. 3 months FD danne mase antimata

January -> 10000 new FD
February -> 10000 new FD
March - > 10000 new FD

April weddi January dapu FD eka iwara wenawa eken hamba wenawa FD amount + interest, ekai uba save karana 10y danawa

April - > 10000 + 10000 + 250 -> 20250

Ohoma ayeth May weddi Feb eka iwara wenawa, ekath uda eka wage continue karanawa. ohoma uba FD 3k rotate karanawa mase gane

Exactly this is what I was thinking about. What if we do FD's for Six months and then let them renew for another six months with the interest. reduces the admin work also.

6 months will give a higher int rate thank 3 months.

 

[GRO_MAX]

So this works as a savings account? [can this account use for a financial proof when getting a visa????]
​

Of course it should have.

I think this is a better option for Visa compared to savings.

This is clearly one of your personnel assets

 

[Dotex]

අනේ මන්ද බන්

මං වගේනම් කරන්නේ business එකක් start කරන එක

normal business එකක් start කරත් අව්රුද්දට 60-70% sure හොයන්න පුළුවන්

නැත්නම් හොද business idea එකක් or investment plan එකක් set වෙනකම් fixed කරපන්

උබට ඔය ජිවත් වෙන විදිය හොදනම්, ඔතනින් එහාට යන්න ඕනේ නැත්නම් , ඉන්න විදියට comfortably ඉදල මැරිලා යන්නනම් ඕනේ හොදම option එක තමයි LiFe Insurance ....

 

[GRO_MAX]

අනේ මන්ද බන්

මං වගේනම් කරන්නේ business එකක් start කරන එක

normal business එකක් start කරත් අව්රුද්දට 60-70% sure හොයන්න පුළුවන්

නැත්නම් හොද business idea එකක් or investment plan එකක් set වෙනකම් fixed කරපන්

උබට ඔය ජිවත් වෙන විදිය හොදනම්, ඔතනින් එහාට යන්න ඕනේ නැත්නම් , ඉන්න විදියට comfortably ඉදල මැරිලා යන්නනම් ඕනේ හොදම option එක තමයි LiFe Insurance ....

Business is a high risk bro.

meka basically savings plan ekak. Invest while saving scene ekak.

 

[chanaptc]

බම්ප්.
වටිනා අයිඩියා ටිකක්

 

[netsurfer]

Thank you so much, never saw a life insurance as an investment.

Basically this is a short team investment 2 - 3 Yeas.

But as you said life insurance is a long term thing, so now I think of going for a life insurance, lets say with a premium of 5- 10 K and rest 40K will be invested on one of the two options mentioned above. Thanks for that.



Thank you mate, this is also a good option, though i am more in to a short term investment.

Please post or PM if you get any details of insurance schemes. Thank you.

 

[netsurfer]

IF I HAVE MONEY I GO SINGAPOR AND HIT HOOKERS AS MUCH AS I CAN.
SORRY FOR MY ENGLISH

YOU NOT LIVING TOGETHER NOW?

 

[netsurfer]

Appreciate the ideas of Finance professionals.

Lets say if you can save 50K from your salary every month; and you want to invest that money through the saving period (Over a 3 years period)

You have two options

1) Go for an investment plan

Eg:
Millionaire account Commercial bank : Effective rate 8.6%
NTB Investors account :Effective rate : 9.6%


2) You can save the money for few months, lets say for four months you can save 200K (50 x 4 months) and then you can invest that money on a FD.

In a finance institute - Higher rate 13% per year
In a Bank - 11% per year

Out of these two options what could have given the maximum benefit end of three years.

Appreciate your ideas and suggestions

Investment plans are good for people like me who does not have discipline to invest,however if you have good discipline you can use internet banking to open FDs with same amount and earn higher interest rate(FD interest rate).