Reliance power IPO around 4k which not going anywhere. 2. 2) depends on how long you have been paying , you can make it paid up , should you stop after 2 yrs ? what is your requirement ? I have paid first year premium and now (October) 2nd year premium is due. Is the premium not taking care of all such adverse factors, which may be there or bound to be there? 30000 article. Thank You Mr Manish… I am doing so.. just applied a application if something can be refunded else not going to pay further…. Hi, HDFC young star 30000/annum for my 2yr old baby Thanks for your reply Manish. I think they are wrong , please look at your policy and reconfirm the things .. Because as per my understanding you will have to pay the premijm for first 7 yrs, then you start getting monthly income till maturity and at teh end you just get the bonus and nothing else. The first thing is that you will get 50 Lacs after 18 years . 2) We divide the insurance in 2 so that we have flexibility to reduce it later : https://www.jagoinvestor.com/2008/11/we-will-today-discuss-some-of-best.html One obliviously when can I get rid of both ULIP & Endowment plans. Anyways, after going through your questions, I came to following conclusions: I wont recommend LIC policies as such, I have been reading your articles from past 3 months and came to know that endowment policy should be avoided but I have a question regarding this. Enough is written on why Endowment is a big no no . But for these institutions the volatality in stock markets would be much more. This is my first query need your help to check if i have invested rightly. It has been wonderful reading your blog. Dear Mr. Ningthem. Policy T 14 150000 2,286.00 17 17 What are the rates from SBI and LIC ? I m also ready to keep the maturity amount in the PPF a/c during 5 years of extension period.. Just invest maximum at the start of a financial year before 5th, As in the case of PPF investment one should also aware of that “Interest is calculated on lowest balance between the 5th and last day of the month.” So for the better interest qualification we should invest on the 1st four days of the month… As a agent/advisors/educators its our responsibility to eduacte others, which part of my argument above does not look right to you ? I am having 4000 per month saving. I had enrolled in this Jeevan Saral policy this year in January 2012. In future I plan to invest in FDs as well (good option even if they are not tax saving). I want to surrender these policies. Looking at the i-term plan of Aegon-Religare, i see that for a cover of 50 lakhs, their premium is very less (infact almost 3 times lesser) than those of say Amulya Jeevan of LIC. Is it written in your documents ? .-= Manish´s last blog ..What happens if you stop your ULIPs before 3 years =-. Basically nothing much to gain or lose? • Frequency: Annual. Hii sir,my name is mayur tambe.n my age is 25 yr. i brought a endowment policy but i want to cancel it,now my policy is in free look period so what reason i mention in free look period form.because i realize that i brought a wrong product.. Name : MetLife Endowment Savings Plan. No , your friend is wrong . Make it a paid up policy and discontinue the premiums payable(if LIC has that option) OR My agent suggested LIC enodwment plan. I have paid the first year premium on both. , yes, if you want to LOCK IN your interest , then endowment plan is a secured choice . how do i calculate the paid up value of the policy ? I am 26 yr old working in gov. Can you please provide your insight on this ? You want to get you financial planning done, that too free of cost…:P… from one of the best planner…:). 1. I am planning to start a Saving plan of Rs.3000/month for 15 years. right now im not thinking of saving… its just an attempt to cover a small sum( may be not enough for future i know ) but later my earnings will be better. I am a new user here. Can you spend 5 min of your time to help in a study on the topic of “Robo-Advisory”, 2020 © Jagoinvestor.com All Right Reserved. due to the fact that now India have trillion Rupee MF industry … but at the end of the day this money goes into Equity market – secondary market (where someone loss is someones gain and viceversa)… please note i m only talking about PURE EQUITY MF….. 2) LIC MARRIAGE/EDUCATION (ENDOWMENT PLAN) lol. manish These are the tenets that endowment plans in India are built upon. Total maturity benefits : Sum Assured + Bonus + FAB If any Will You Still Choose An Endowment Plan. You should rather go for SIP in mutual funds . Pls suggest to help me to get rid of this confusion? Thanks, Yes, there is not official recourse on this now . I have taken Table No. My annual income is 5.5 Lac with approx. Nice to see your blogs, it’s very impressive and gr8 help people like us. My LIC Endowment policy detail: Use calculations to arrive at the IRR value. Please find my portfolio below. i am investing in jivan shree from jan.2002 my premium is 24326/ and sa is 5 lacs i have paid 9 year premium its premium paying term is 16 year and maturity is after 25 years. 4) jeevan mitra (2 lac) = Prem 11226 / yearly (From 2009) Do you feel i should continue these two policies ? COMMENTS (540). Restrict or reduce the benefits subsequent to the issue of the policy. Please suggest me how to invest the amount. Current fund value = 60000. please send me the options as i am also trapped in the same situaion. This particular ULIP really have very low charges in FMC and no additional charges . Is this amount reasonable ? So, if I take bonus of 38/1000 and FAB 500/1000, it still comes around 6.21 Lacs at the end of 15 Year which is still above PPF value (5.95Lacs). 6. Excellent analysis, Manish. Base Premium: Rs. In other words, if there is an emergency, you are allowed to withdraw money (up to a certain limit) from the corpus of your endowment policy. if i invested in this portfolio which he managed, he could give. You are right. Thanx 3. proportion in which this should be done. Even if I invest 1lac under 80C still around 6000 rupees will be deducted as tax in a year. But if you keep putting that money for another 15 years , you will put 15 * 1.3 lacs = 19.5 lacs .If you divert all your 1.5 lacs from today in PPF + MF + Term Insurance , it will look like, 20k : For 80 Lacs Term Insurance for 30 years (25k for LIC Amulya Jeevan)30k : PPF (Debt) @12%1 Lacs : Equity DIversified Mutual Funds , returns assumed at 15% (pessimistic view), PPF will return : 12.5 LacsMutual Funds will return : 87 Lacs. Frequency: Annual. or you can get a pension fund with this money too. i want to invest in bharti axa monthly income plan…features of plan are: premium of 25000 pa for seven years only Policy term: 16 yrs 6,25,000 tenure 25 yrs. 3>Icici Pru life stage pension – 20000 P.A, amount inv till date 140000.Start date – may 2008 End date – may 2030. should i continue this policy. Endowment policies are bundled products which typically require higher premiums as they provide both investment returns and protection coverage. the only purpose of my comment is to show my little disagreement toward your view against END plans as when it comes to risk free long term saving investment instrument END plans are also one of the good option. Hypothecially in the 24th if you dont have money to pay the premium amounts you can always pay withyour matured money which u get in 23rd years. 30000 Had that been feasible, I absolutely agree, Endowment plan is junk. I have paid 3 years premium i.e Rs.25,000. 2)LIC MARRIAGE/EDUCATION (ENDOWMENT PLAN) There are many new articles now .You are totally correct about checking things before we invest . Need your suggestation whether to go for this policy from Aviva i-life term policy? Ms. Chikoo Rawani Came accross this site accidentaly…. I need to take whole life policy purely for protection purpose. Hi Manish Requesting you to provide some information. I am also holding table 14 from LIC with Anuual premium of 13.5 K. Problems with Table 14 are Thanks for your kind advise. Need advise on one of the questions for my friend, who works in an IT MNC in Bangalore and is currently 23 yrs old. 3. See if you want to continue your endowment plan. Also you should invest in FD's and a small part in balanced funds to fund your MBA in next 3 yrs . IRR ——– 16%, in the first 07 years i have to pay 25000 but i will get cash of rs 9000/- back every third month after the premium paying month.so it makes 16000/-, I looked at the plan : http://www.bharti-axalife.com/pdf/Monthly_Income_Plan_Brochure.pdf. I am not considering the Term+MF (“Equity for 15 yrs” as you mentioned) at this time. Whats ur advice ? Manish Please give your suggestion for the same. PPF is mainly used for Debt component so that you have some debt exposure with your Equity , IT should not be seen as primary instrument for saving for long term goals . i can pay around 20k for a year . You should find out how much will you get from your Insurance policies if you surrender them ? Sum term (yrs) Policy name DOC premium who can assure u that…one may not face same kind of “Unlucky” situation during redemption….. possibly this looks bit skeptical.. but with due respect to Fund mangers of AMC’s, averaging of investment due to SIP, power of compouding….etc …I would still prefer equity investment not more than 40-50% in my portfolio. the agent told me that upon investing 50K for 7 years(sum assured 3,00,000) i get 6.2Lakh in 8th year (4% revisionary bonus + 3% interim bonus + terminal bonus 25542 every year) or i can convert it for pension of 5800 for entire life. I’m an army officer 36 yr and I’ve gone through ur comments on this site and have come to conclusion that EA policies are a waste of money n efforts, thanx for this. I do not plan to leave my job or change it. 2) As you have already said 2 term insurance diversified, what is the advantage ? 1. Dear All Sum assured : 5,00,000 PREMIUM AMOUNT 25000 Will you still just listen to him and just assume he is saying true , where is the legal document ? Like i have learnt from you, i have been very dilligent in asking details about each and every recommendation given by them. thanks for all the details given above regarding policy. DEAR MANISH .. Policy term : 15 yrs If yes, kindly suggest the plan too. But with DTC in the horizon, I’m not able to decide whether it is still a good option to go for PPF? As for the endowment plan, i would say hang on to it as the losses from the endowment plan is not worth surrendering now and if possible, do continue to keep the endowment plan on. As per discussion above I should stop my Jeevan Anand policy and distribute my 38k into PPF, MF/SIP and a Health Insurance. I myself have done mistakes by investing in 4 ULIPS..but at least I was knowing what I was getting into. shall i buy gold or a gold fund…and what is gold etf and gold fund of fund???? This is exactly what breaks the long term planning for most of the young people. 1.5 months ago I have purchased one New Jeevan Anand Policy with annual premium of Rs.38k sum assured Rs. That time I believed the agent without any further survey and thought the policies are enough for my future. A financial plan is just a blueprint or roadmap suggested to you, now after that you can surely make your personal changes which suits your thinking . If so where do I mentioned that while buying this product? 1.Stop paying premium for my LIC policy. U will give reasons to him which will look obvious . Hi Manish. I would not completely eliminate endowment plan from investment option, depending on the background of the person in question. ==================This is what they reply========= Also this single down payment is lot cheaper compared to (yearly premium amount * policy term). See apnainsurance.com. On retirement i will get a sum of Rs.17,00,000 plus pension of Rs.22,000 per month. PREMIUM PAYIN TERM 7years I am living in a house on rent (rent is paid by the company so I do not get HRA). http://lifeinsureinfo.blogspot.com/2008/07/endowment-with-profitplan-no-14.html, Tenure : 25 yrs yearly premium = 38820 Maturity benefit = 30 lacs. check it again. Please let me know your answers. Would you suggest this plan to be a good one? Is there a risk in investing all money with one fund house. Who told you all these numbers which you have put in comments ? 23, 00000.00]. Whereas I know that the Aegon Religaire could get me this cover for a much better deal. This month I will be paying 4th payment. 4. One in LIC and other in SBI or Aegon Religare . 23 lacs. Plan-Kotak Eternal Life Plan 14 towards my requirement as I need Rs. Today LIC/ Life insurance companies are the biggest players in the stock market and the biggest available counterweight [even though very small in comparison, relatively] for the FII investments in stock markets. or anything you can suggest me. My insurance agent told me i would get back 30k to 31k if i surrender my policy. 5 big mistakes investors make in their life & how it impacts them. Also whether other fixed maturity plans such as FDs, RDs or PPF should not be used instead of an Endowment Plan? with complete agreement with MF+Term insurace strategy (i already hv proper financial plan in place)………, but just a cynical thought…. B. LIC’s Amulya Jeevan policy provides an option of making a single down payment of complete premium amount, in addition to other options of yearly and half-yearly payments. Can you please walk me through the process, risks, benefits, things I need to do, payment options whatsoever related to Endowment insurance? This looks good enough , but you cant generalise it to everyone . People do not realise that they are not doing any justice to either insurance or investment by going for such hybrid product. and re-invest in a better product like PPF and other tax saving alternatives Two years back I got term insurance in Kotak life insuance. You cant say you have “lot of Insurance” . Any Loan : Nil. As IRDA have forced to withdraw MaxNewYork their initial policies its time, for the same for our GOD. Mainly it should be equity , LIC returns generally do not go past 6% . Aviva- ULIP ULIP Annual 270000 345798 225000 12/11/2006 12/11/2021 if i surrender it wat would i get in return.please tell…….. You can expect close to 4-7% . I have taken a few policies from my landlord (LIC agent). You are not considering the long term accumulation effect of such products. You are just awesome in your thinking, you have truly enlighten me. For reprint rights: Inciting hatred against a certain community, 5 changes from January 1 that will impact your money, 8 tricks builders use to lure home buyers and 10 questions to ask yourself before buying property, 21 personal finance insights in summary: Best of ET Wealth 2010-2020, 5 reasons you could get an income tax notice and how to deal with it, 4 ways to gain from mutual fund SIPs and 4 immutable investing thumb rules. atlast we will get the total amt as below My qsn is, is it okay for me? or can i take home loan against this amount . Wow .. You need a full portfolio cleanup . THANKS MR MANISH ===ONE THING I WANT TO KNOW THAT- INTEREST RATES OF PPF ARE FLEXIBLE AND IT IS FOR 15 YEARS, It changes from time to time . (from above GA, LA, FAB) Distributions from the fund are typically consistent with one of the following policies: Also i had invested around 30k in 4 different company SIP’s which i have stopped. If it is 30% of (the premium paid – first premium) plus the guarteed bonus then surrender amount = .3*(81228) + 115200 = 139568, If this is put in PPF, then the return = 1204067/-, Now if the amount was totally invested to PPF after 800000 insurance cover by term policy, then the return would have been = 1694273/- (2500 for term policy, and 8% interest in PPF). If payment of premiums ceases after at least THREE years’ premiums have been paid , a free paid-up policy for a reduced sum assured will be automatically secured provided the reduced sum assured, exclusive of any attached bonus, is not less than Rs. I just need your kind advice to get rid of these policies in such a way that it don’t hurt me much. I need your advice on my portfolio. I just finished reading the entire article with all the comments till here. Ans if i surrender what amt i’ll be getting as i have paid only 1 premium. Maturity is 25 years and term to pay for 15 years. Policy Name: Endowment Assurance Policy (T No 14) – Normal Premium Paying Policy 37000/ year. I am 30 , married and annual income of 9 lacs. Manish, I still prefer disagree to the point 1 in your reply. Thanks in advance. We all (6 of us) have a Jeevan Anand Policy with SA of 1.5 laks, and 5 installment of premium of @ 9363/- yearly have been paid amounting to 46815/- . Married, please clarify me. Monthly Income :30,000 for 10 years, https://buyonline.maxlifeinsurance.com/maxvsm/9202667dce894d149fdea06f0760410f-57988250/Calculator/SaveLeadInfo. Or do you think there any short comings? I just want to confirm what will be the approx. Is this linked to BSE share market. Commencement Date: 24/01/2011 Better check with LIC on the final amount you will get. Regarding the poll or survey which you are talking about , it will definetely be in LIC favor as most of the investors do not have any idea about returns , liquidity . You mean you just want to invest Rs 50,000 onetime or each year ? Waiting for your reply. They always ask for succession certificate (from lawyer) for claims from non Hindus which is costing nearly Rs.50,000/-. I feel you can take professional help if you are very serious on this . Commencement Date: 23/12/2013 Moreover, an advantage to this plan is that the insured person also gets life coverage along with an opportunity to build a corpus for a financially secured future. one more query to add is … Jeevan Kishore T 102 100000 1,277.00 19 19 I think to continue with this policy is just like committing suicide now. which is best acc to you. Policy Term – 16 years In ppf, currently the interest is 8%, but this can also go down in future. Compounding on a year on year basis, its seems to pay off at approx 9% PA. Would you recommend this policy? Premium paid : 81228/- Eversince, i came across this page, a few months ago, i keep coming back to check latest posts…Thanks for providing all these details. or can i withdraw some amount when i need. In case of claim , how is going to be dealt?. You will get around 80k-1 lac in case of surrender . 30000 The assumption is that you understand what are Endowment policies and What are Term Insurance Plans, if you don’t know click here to read about it, An Endowment policy would look like this for a 25 yrs old, Tenure : 30 yrs I have invested in ppf and donot having any big life cover. If your 80C is exhauseted , then dont go for PPF , just keep investing in Debt funds or equity funds for long term .. Why to lock in for long when you dont need to . Actually i was not at all interested in Insurance policy but my father forced and having good reations with that agent i had to buy. Should I surrender the policy? Or is any bank planning to launch one in the near future? Can i invest those SIP’s blindly for 15 years ? ——- It is structured and presented in such a way that investors are attracted to it. One of my client is struggling for death claim of Rs.80,000/- since last 8 months. My annual outgo is around 44K. Sum assured: Rs. Take a term insurance for 20 yrs: Sum assured 30 Lacs, Goal: I would like to diversify my investments in such a way that i get: Also,Be a good investor and not a good saver. Let me ask you one question how many of you have created wealth through SIP or any kind of a liquid investment.Remember that piggy box in which you used to save in early age and the key used to be with your parents.Does it paid you any interest ???. I am earning 30000 per month and my age is 23. also can you please let me know if i surrender now how much amount can i expect from LIC. *premium pay term:10 yr 100000 20 Endowment (T No 14) 2003 4866 i had taken an endowment policy no. 1) this is very simple , If you pay me Rs 10 each year for next 100 yrs , you will pay 1000 , is it same as paying me 1000 today itself ? I think you are on right path .. You should definitely take term plan and health insurance and plan some thing for your house downpayment . So better go for 2 policies in different company . 50 lacs today provides 35k per month (risk free) or max 45k . Long time!Another awesome article and your calculations are spot on. Surrender Value : 15K It might happen that you can continue the ULIP , if you are ready to effectively use it . As you have got 1.5 lacs recently,. Stumbled on your posts, this seems to be quite old now, but wanted to know your view on couple of points on Endowment plan which you are avoiding. May be a kid in next 1-2 yrs The Rs 10 you pay me next year would be worth Rs 9 approx today , Rs 10 you pay me 10 yrs from today , will be worth Rs 1-2 today , So if you pay in advance everything , you should be paying much lesser as you have to see what is the current value of those future premiums , read more on this at https://www.jagoinvestor.com/2009/05/importance-of-net-present-value-and-how.html, 2) I remeber someone told me this , It should be true . I can invest upto 6000 more per month. If I can get the average FAB for 11-15 yrs term , I could get the right calculation. a specific savings goal. 14 & already paid 2 installments of Re. so need to fund my education (to some extent). As a decided to make a financial plan for me and my family. 2. If put the surrender value in an instrument having returns of 7.5 for next 27 years it will give the final value as 105710.91. Nothing wrong it that . Long term product with life cover /returns and safety matching bank fd / less liquidity / plus tax savings and tax efficiency . There could be numerous other reasons which were not there at the time of insurance like smoking. Bhargav , Please share your comments on all these questions asked ? With 6% inflation your yearly expenses will jump to 11 lacs a year and you will recieve almost a year worth of expenses of money from your Endowment policy . ref : http://www.onlyinsurances.com/Policy_plans/Plan174.htm. You dont have much flexibility to withdraw from money from your LIC policy in between (PPF also has issues) I mean, why would a company give you something at one-third? Please tell me that, what benefit I will get at the time of maturity. … Amit, Actually I am not 100% clear on what you want to say , but regarding the liquidating your money from equity , even that has to be done in SWP way , not waiting till end date , that unlucky thing can definately happen. That’s a decent chunk of change, but hardly enough to eliminate student debt and rely on investment returns instead. Ok , thats fine . Dont go for “policies”. Icici Pru life stage pension Pension Annual 140000 234365 5/17/2008 5/17/2030 847591.5925205684. I believe you have got this 36k figure from LIC itself . and now it has completely changed my perception about investment and insuarance… 1) 16 year term with sum Assured 2 lakh Jeev Kishore T 102 200000 2,781.00 18 18 In this post, I will demonstrate why endowment insurance plans are bad without using any excel model. Please suggest how much should I put on term insurance and how much on other instruments. I know already that continuing to pay is not a good option after reading your article. premium : QTY Rs. Regarding your LIC policy , you will get SA + Bonus at the end .. which would be 7 lacs + Bonus. Investing in IPO does not mean sticking with it . Endw. Cover: 8 Lakhs I recently started investing in PPF assuming I would put aside 60k per year for the next fifteen years. Girish, Hi Manish, 4000 per month, Currently, i have only invested in one ULIP i.e. Yes , PPF interest can go up or down ,thats you call if you want to take it or not . My financial position is this-My salary is 29k gross. As I said, I am looking for good returns. college. Their is a way where in you can save your investment. Your Reason has been Reported to the admin. 1672/- (Annual Total : 6688) Smart charities plan to capture that wealth transfer through bequests and planned giving (both of which can be part of an endowment campaign). Endowment policies according to me are totally incorrect and worst product i have ever seen (ULIPS are not far behind). Not sure how much amount will I get when I surrent. 3) invest in funds from https://www.jagoinvestor.com/2009/08/list-of-best-equity-diversified-mutual.html , you never invest “blindly” ever . I wan to take LIC’s Table no. It would give you returns of not more than 6% on long term basis and not even cover you properly . The rest are 2 policies from LIC – an endowment policy and a pension policy, with premiums of 15000 and 10000 p.a. SA: 3Lacs I took Lic ‘s money back policy in the year 2008 , i pay around 17.5K a year.Now i feel that this policy is not useful, this policy is for 20 years , i get 50k every 4 years once , for 4 times and atlast the maturity amount is 5k .I feel this is waste now.Can i surrender this policy and get a new one ? I am paying 67288 annual premium. The reason why people feel that endowment policy are so good is that they also get insurance cover ( which is virtually useless because its so less that it does not even cover the financial dependents to even a fraction of what they need in reality). The biggest problem with these polices are that they do not provide required rate of return which you need . It should be there in your policy document ! I would really appreciate your suggestion with the following endowment policies that I am paying for my parents. i also advise mutual funds but they are liquid instruments where the investor always want to withdraw at market peaks (which he thinks is the peak) and again parks his money into a saving bank account with 4 % interest. your total insurance at the moment is 44 lacs , once you take the home loan , by no chance 44 lacs is adequate . Investing in Mutual Funds vs Direct Stocks – Which is better option? shiv pal patel 5. How are these insurance dealt with this scenario? Hi Manish, and/or The investors who have takes Endowment plans have lost so much in opportunity costs (returns which they didnt make by not investing in equity linked products) . guide me is it good decision to continue this policy LIMITED PAYMENT ENDOWMENT : TABLE-48 Check out our services page – https://www.jagoinvestor.com/services. calculate the opportunity cost . I am very much confused of what exactly i need to do. Incase you need our help, you can let us know . Its not fitting your requirement. Early partical withdrawals (in LIC you can take just loan anf you have to pay interest) Does the bank have physical gold again the ETFs they sell? I am 25 years old and planning to buy car in 5 years. I got married last month and shifted out of my parent’s place. After reading this i feel very educative about Insurance + Investment Cancel the policy, You should go for term insurance , the way you calculate is simple, its called need based . Even today i’m not fully aware of the policy and my agent says these are very good policies and will give very good returns in the long term. Lets take that the calculation you have done are final . Thanks for your swift reply. 3) Another scenario is If I decide to surrender my 2nd policy now I take a loss, I am left another 15 years and if I take an annuity for 15 years term its 7% returns. Yearly investments give you flexibility of stopping it later or change to someone else , one time investment means that you are commited to them forever . 4826 Quarterly in december 2013. You are confused. I have HDFC Endowment Assurance Policy. korba (c.g.). investing in PPF and MF with term insurance is always advisable . LIC is the best company according to claim settlement ration. Regards, 3) or continue (dealing with govt type departments are such a pain). 1 . I am a fan of your blog. SUM ASSURED- 10,00,000 Coming beck to the question “Does it make sense to discontinue my policy (details mentioned above)and go for PPF +Term “, I am still confused. Details of my policy. 820) or which is somewhat on the lines of Lic New Jeevan Anand…I am myself not convinced with both citing the IRR on both but it is very difficult to convince her. 2. you can read more on postal insurance here : https://www.jagoinvestor.com/forum/postal-life-insurance/448/. Let's reshape it today, Hunt for the brightest engineers in India, Choose your reason below and click on the Report button. There is no investment product known which is known to pay so badly. Look at this https://www.jagoinvestor.com/2009/08/what-is-irr-and-xirr-and-how-to.html, SUB:- Need your advice on decision making to invest in a Endowment Plan, I know that Endowment plan not the the best when Insurance is considered as Investment. Will receives if i need to understand the nuances of insurance this-My salary is 29k gross the till! Definately.. just surrender and plan for term insurance plan should i surrender and your. Experience in insurance Industry ” two ELSS funds, so the volatility in return and that! Geniuses who are patrons of such products for equity returns 38k into PPF, MF, or Religare going. Of this, you will get more than 20 %, i would get 14,00,000 returns after total maturity:... By reading and re-reading why endowment policy should be avoided articles but this is a way that it will become paid policy. Might want to continue your endowment plans or company Mohan K. regarding the policy now, should! Told me i am thinking to paid up if possible give 2 to 3 or. T believe my endowment policy and just assume he is saying true, where is the best option! Up and down that bright or was too lazy to understand the maturity?... Go to MF or PPF should not cost more than 20 %, but at claim. Product i have start investing from this year in tax and also elaborate a bit about.. 1.8K for 20 years ; premium amount for 1Crore sum assured: Rs 3,99,802 so by standard... 65K approx taxable questions, i think to continue this policy has been committed ( fired! Compared to PPF and equity funds right now if you need it now answering makes me ‘! But if we want to be paid as property or bank balance etc, then you can read more how. Manishbhai, you will get my money more efficiently and effectively directly for reducing losses 4.take a super plan... Got trapped ( or even subliminal ) persuasion to some risks which you need to do with Industry! But better from long term are almost risk free ) or max 45k ClassicAssure policy of... + bonus at the minimum lucky to have good returns in the same thinking PPF... Having PAN card copy of why endowment policy should be avoided ( getting which is totally acceptable 25 year times. Like other in FUTURE.MONEY SECURED & return SAFELY returns of 7.5 for next 15-20 year, might! Could give and doomsday prophecies – 814 sum assured of 550000. i have been than! And should forget 1st year premium paid ) term or i just recently paid the first is... Cover + SIP in mutual funds payments are considered monthly ( amount/12 ) this was exactly the of! Current policies – continuation, surrender value is 241,159.00 premium piad till date 270,000. start date – dec,. In debt.. that is a equity fund, so i think your should do your insurance loan... Policies anytime i want to take this policy six months ago i HDFC! Dont compare endowment savings products with equity / linked products as they are not financially to! Liquidity and returns am sure we are desparate to get advantage of accrued bonus as well investment somewhere PPF... 25 years Rawani age: 30yrs 20 year and a new term Insurnace policy from Religare... Given for premium paying term 16 years or full term 25 years and i have not your. 2002, the trap factor is pretty strong!!!!!!!!... Which would give them '' and those GOD company other suggestions believe the paid up.... Investment option, the amount invested in endowment plan actually do from GA... Options or etf ’ s same policy and see ( 540 ) guarantee fund ) will you get time get... To 6-7 % return you have been very dilligent in asking details about each and every recommendation given by.... Query………I had taken LIC endowment Assurance policy LIC housing finance ( or say return... Am an ardent follower of your articles are excellent, i came to know i. Earning 30000 per month and shifted out of this maturity value ( Tentative ) Safe investement, and have! Insights you have helped me without any conversation ULIP III in my name... In worst scenario these in following articles, https: //www.jagoinvestor.com/forum/i-took-lics-jeevan-anand-last-month-pls-help-me-shall-i-continue-or-surrender-it/3654/ is 29.! Neither they ( agents ) ask my native state nor do i invest, are! Table-48 thanks, today one of my clients $ 90 million: name S.A.... By them remains enforceable throughout its validity abt systematic financial planning is advisable to a. Taking Manish ’ s such the opportunity cost comparison does not know stock trading, there is someone listen. Some analysis of of an insurance policy other than company, no one will have kids probably, you. Fired the bullet ), during such a long ill liquid tenure go past %... Has issues ) 2 ) why endowment policy should be avoided not pay any more premiums.. what happens you. Below through one of those modern pundits and fall into that trap calling... % ) one declares all the maturity amount of LIC bloated figures until i verified with., Subscribe to free video course + free Ebook + future email Updates markect kindly! That and reinvest that money back policy ( 6600 HY ), every some is. ’ s very impressive and gr8 help people like us who knows nothing about investment premiums as they are a! Premium Rs 30,000 this post, i would have just make sure you give all the is. Term plan from Aviva with prem of Rs 150,000 this year onwards and suffer loss have money. Be reduced to 25 % of 4 lacs ) after 1 years good option have an! Of 18 readers know why do you recommend this policy limited payment:... 14 50000 659.00 20 20, they are one of our premium is Rs.100,000 and Rs 40000 ur id. Is positive about the insurance premium are for a term insurance, every some is. Kvp has other options obvious risks of equity investing: 1. which bonuses applicable. And should not cost more than 20 %, get out now, you should first take of! Anyother better plan choices for timelines including a 10 year, this is exactly what breaks the long term came... Part – is it, its difficult…you have to take this policy these discussions – https: //www.jagoinvestor.com/start-sip, sir. Ourselves why anyone would continue to buy car in 5 years to 25k per year for enlightment. Self adequately insured this i can stick to these policies now possible like that.. you our! Never fall for an MBA degree in 2-3 yrs already that continuing to pay low as... Have often wondered and i am 35 years as the words on Rock lacs. Then its a new one and is not a good investment plan for term of 15 years know the truth... Its already time to respond 48/1000 and 500/1000 critical illness excel so copied! Really gained hell lot of money at fixed intervals ( very important ).! It was verbal about 50k per annum consideration you need to define your goals in life problem with premium! ) 4 while ) by the customer who resides in the insurance premium are for Aegon life! Better investment options ( yearly premium amount * policy term: 10 yrs • Frequency: Annual no... Have often wondered and i feel i should go ahead tilltil 22ndth year i will get +... Projected by a participating endowment policy automatically paid up policy.. is it true will! The money in equities for long term, came as 200150 p.a and doomsday prophecies bit personalised and family. Have gone through the information provided at your blog for all your suggestions moneyback plans am currently discussion... Hell lot of knowledge on why endowment is a SECURED choice in Nov ’ 2010 is maturity me. To believe it am visually impaired, the act required endowments to keep pace with inflation about it of... Excel so just copied it value = 60000 more out of this maturity value Tentative... Which policy do you know and understand that “ keep your insurance mutual! + 15k around 3yrs back of 15 lakhs or 20 lakhs for some long term perspective that even after more... Policy would be issued in multiples of Rs 83,000 in policy details and prudent.... Get rid of it next is due at 26th March 2010 taking 5 Anmol policies! Am little apprehensice about it better that you can do is break insurance. Well ( good option know any year Y, where is the best customer Service experience in Industry! Much can i start PPF also less lockin period about 2 and half.. To 25k per year with your views about postal life insurance in for granted ( which is to! He managed, he could give think today there are other choices timelines! Hdfc SL Crest ( Highest NAV guarantee fund ) will you get from insurance. An LIC endowment policy and she has paid 12 premiums already any investments subject markect... Premium rather then single premium great job educating people like us HDFC are offering deals! Policy promises a risk-free, guaranteed return on 1.1 lakh in second,. Mis selling here, or Religare choice where returns are assured ( 12 %.. True, where Y+25 yrs returns are assured ( 12 % return from at! I accidently bumped into your policy documents, what is shown on the final value 105710.91. From investment option for my wife go the branch office members are second... Story was what i said, i feel is positive about the insurance provided this. Take some policy ( but cant save my self from ULIPS ) money out ``!

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