Weekend Dig

Made up my mind on Pyramid Saimira. Will be applying for the issue on Monday. The money that was used for Sobha's has come back un-touched, so funds shouldn't be a problem.

Re-declared my IT computation today. Realized, I still need to invest another 25K to exploit 80C to its fullest. It will most probably be an ELSS again. Which one is the question ? Need to do some digging on that.

In my declaration, I have alloted 10K for my life insurance premium. Believe it or not, I do not have any life insurance cover, besides what my firm provides. Looking at all the uncertainties around me, delaying it this far was a really dumb thing to do.

Now, since I was going for a life insurance policy for the first time, I had a lot of reading up and surfing to do. One excellent read I hit upon was an article at personalfn.com. Read it here: http://personalfn.com/detail.asp?date=8/3/2006&story=3

The article was so damn convincing about why one should opt for a Term insurance. Through ULIPs and all the other "savings/returns" insurance schemes, people tend to be forgetting the *motive* behind insuring oneself. I wonder how people can afford to be that optimistic. I'm sure, I'll get better sleep, by realizing the fact that my dependents will get a reasonable amount of 40 of 50 lacs, if things go terribly wrong and I kiss good-bye to this world. Little am I gonna lose sleep thinking "Oh my god! what if I don't die within the term ? ... all the premium has gone waste......".

Premium chart for Term Insurance Policies: http://personalfn.com/insurance/termplan.html

SBI Shield looks kinda impressive. With an annual premium of 9766, I get a cover of 50 lacs for a period of 25 years. Use the premium calculator in this portal and find out what suits your needs:
http://sbilife.com/sbilife/application?pageid=Services&ServicesId1=calc.shield