Endowment Supreme or HDFC HLPP

[vbvnmvt]

Hi Friends,

I have taken home loan from HDFC and want to secure that by taking insurance. HDFC ppl are suggested me Endowment Supreme plan that covers 10 L by paying 25 K premium for 3 year. Which will give benefits after wards also as its a ULIP.

HLPP - Home Loan Protection Plan for 20 L is by single preimium of 75 K. (I am not sure if they are telling truth on premium, as I guess its too much ) That will not give any benefits other than death. That will help in paying just outstanding loan amount.

Please suggest which one is better to go for home loan protection. HLPP just gives protection while Endowment Supreme gives protection as well as some benefits at maturity date.

Please suggest.

Thanks,
vbvnmvt

 

[palka]

Best take a term plan for 20L, will cost you 6-8K per year. Invest the rest that you would have invested in endowment plan in one or two good mutual funds. this will give you best protection, maximize returns, and give much more flexibility than a ULIP.


Endowment plans usually give you 4-5% return on you investment. At present rate of inflation is >10%. if the average inflation for your investment tenure is 6% you will actually lose money.

 

[lindadale]

I don't have any experience with HDFC as i have my account with axis bank and i also applied home loan with them.I think they are offering home insurance and home loan calculator with a best offers and services.