u/AlphaUtkarsh

Hey people,

I want to get my first credit card. Till now I’ve used credit cards that my friends have for offers and cashback but now I want to get one.

I am fascinated by yes bank Kiwi CC that my friend uses as it gives very high rewards and cashbacks, but it rejected my application as I dont have any credit history. So i want to start using a good CC.

I have accounts in HDFC, ICICI and Axis bank. Suggest a good CC which gives good cashback and rewards.

Age: 25
Monthly income: 53K
Monthly expenses: around 30-35K

Spending pattern: paying rent, paying SIP’s on Groww, online food ordering, and somewhat offline daily merchant payments.

Hey people,
2 years ago, my father got convinced by a LIC agent to buy **LIC Jeevan Labh (Plan 936)** policy. Since now I’m in job (25M) my father asked me to pay yearly premium for it. But after learning more about investing, I’m questioning whether this policy makes sense?

Here are the details:
Policy Start: August 2024
Annual Premium: ₹45,000
Premium Paying Term: 16 years
Policy Term: 25 years (ending in 2049)
Sum Assured: ₹10 lakh
On maturity: 25 Lakh (claimed to upsell, might differ)
Add on: Accidental death and disability cover rider
Premiums Paid: 2 (3rd premium is due next month)

After doing some research, it seems the policy may generate an annualized return of around **7%**, and i’ll get 25L in 2049 when i’ll be 50 yo. And this life cover will also end when policy expires, post that it will be tough to get a term plan for myself.

So does it make sense to continue it? Will blocking my 45K every year to get 23-25L in 2049, when I’m 50 yo would make sense?

My father has already paid 2 premium (around 90K) and when I talk to him about cancelling it he gets angry.
Benefits according to him: It’s a good savings option and I’ll get tax free amount upon maturity and life cover also.

If I surrender it, he’ll get 30% back (approx 27K) and a loss of 63K would make him more angry😭. If I tell him the option to invest this money in MF, Gold etc and buy separate term plan he says look at the volatility of market from last year.

How do i convince him. Need urgent help. My premium is due next month.

Hey people,
2 years ago, my father got convinced by a LIC agent to buy LIC Jeevan Labh (Plan 936) policy. Since now I’m in job (25M) my father asked me to pay yearly premium for it. But after learning more about investing, I’m questioning whether this policy makes sense?

Here are the details:
Policy Start: August 2024
Annual Premium: ₹45,000
Premium Paying Term: 16 years
Policy Term: 25 years (ending in 2049)
Sum Assured: ₹10 lakh
On maturity: 25 Lakh (claimed to upsell, might differ)
Add on: Accidental death and disability cover rider
Premiums Paid: 2 (3rd premium is due next month)

After doing some research, it seems the policy may generate an annualized return of around 7%, and i’ll get 25L in 2049 when i’ll be 50 yo. And this life cover will also end when policy expires, post that it will be tough to get a term plan for myself.

So does it make sense to continue it? Will blocking my 45K every year to get 23-25L in 2049, when I’m 50 yo would make sense?

My father has already paid 2 premium (around 90K) and when I talk to him about cancelling it he gets angry.
Benefits according to him: It’s a good savings option and I’ll get tax free amount upon maturity and life cover also.

If I surrender it, he’ll get 30% back (approx 27K) and a loss of 63K would make him more angry😭. If I tell him the option to invest this money in MF, Gold etc and buy separate term plan he says look at the volatility of market from last year.

How do i convince him. Need urgent help. My premium is due next month.

Hey people,
2 years ago, my father got convinced by a LIC agent to buy LIC Jeevan Labh (Plan 936) policy. Since now I’m in job (25M) my father asked me to pay yearly premium for it. But after learning more about investing, I’m questioning whether this policy makes sense?

Here are the details:
Policy Start: August 2024
Annual Premium: ₹45,000
Premium Paying Term: 16 years
Policy Term: 25 years (ending in 2049)
Sum Assured: ₹10 lakh
On maturity: 25 Lakh (claimed to upsell, might differ)
Add on: Accidental death and disability cover rider
Premiums Paid: 2 (3rd premium is due next month)

After doing some research, it seems the policy may generate an annualized return of around 7%, and i’ll get 25L in 2049 when i’ll be 50 yo. And this life cover will also end when policy expires, post that it will be tough to get a term plan for myself.

So does it make sense to continue it? Will blocking my 45K every year to get 23-25L in 2049, when I’m 50 yo would make sense?

My father has already paid 2 premium (around 90K) and when I talk to him about cancelling it he gets angry.
Benefits according to him: It’s a good savings option and I’ll get tax free amount upon maturity and life cover also.

If I surrender it, he’ll get 30% back (approx 27K) and a loss of 63K would make him more angry😭. If I tell him the option to invest this money in MF, Gold etc and buy separate term plan he says look at the volatility of market from last year.

How do i convince him. Need urgent help. My premium is due next month.