Should I go for HDFC retirement plan single premium?

I want to start a retirement plan for atleast 20 years. I am adviced by an insurance advicer to go for single premium retirement policy from HDFC with minimum possible premium of 25000 & was told to top up it whenever I want.

I am told following benifits-

1. Only 6% allocation charges in first year. Then I can top-up (unlimited topup are allowed as no insurance attached). Top-up charges are 97.5% in first year & 99% after first year. It is best option possible. It also gives me flexibility to pay premium.

2. Policy admin charge is only 20 Rs. per month. Other have charges from 40-100 Rs.

3. Fund management charge is only .8%. Other have 1-2.5% fund management charges. This charge play a major role in long term.

4. 24 free switches are allowed in a year. Others allow only 1-4 switches.

5. HDFC is a good fund manager.

What you advice? Will I get tax rebat on top-up. Can there be any loop/trap in it?

Hi,

I am impressed by this plan. If it is possible, I want to go for it. Good to see that only 6% charge in 1st year & 1% after that. I have pasted this question to other forum too. Let us see if it is practically possible.

depends on how u allow yourself to get looted.. A ll such plans are slow growing....

Similar ULIP is available with LIC and its name is Market Plus.
For single premium allocation charges are 3.3% and top ups 1.25%.
More over LIC has a strong financial management background.

good luck
pnkmurthy@yahoo.com
http://www.geocities.com/pnkmurthy/lic.h...

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