Hi, I would like to take jeevan anand policy 10,00,000 sum assured for 25 yrs and anual payment is 39000.Currently my age is 25 so please suggest me it is good for me or not? what is the amount that i would recieved after policy is matured(after 25 years). What would be the amount that nominee recieve after my death.
Hi, i would like to take jevan anand policy 10,00,000 sum assured for 25 yrs and anual payment is 39000.Currently my age is 25 so please give me suggestions it is good for me or not?
Re: pagilla kishore (regarding Jevan anand policy)
by R KHANDELWAL on Feb 20, 2016 02:17 PM
In our opinion , jeevan anand is a good plan but go for some term insurance with investment in a SIP plan of any mutual fund.
Hi, i am a homemaker, my husband is working abroad(US), he is a software engineer,working in TCS. Soon i will be be going to US, to my hubby. He wants me to take a term insurance and i want a full detail about term insurance available in India,which is perfect for me. My hubby's salary is good 10 lacs p. a. plz help me.
1. Whether LIC Term Plan is better as compared to others? Can we avail additional rider benefits with this policy like accidental benefits, Permanant Disability, Crtical illness etc. Is it advisable to club this with the Terms Plan.
2. Which are the best MFs for investment. Whether SIP option is better ? Which are best ?
Re: Please advise
by kiran kumar on May 21, 2012 04:47 PM
SBI seems to be better than LIC for term insurance policies. All the insurance companies offer more or less similar products.
Advise on MFs are very subjective, whats true today may not be tomorrow. If you have no inclination to monitor share market, go with 4-5 MF's offered by reputed asset management companies that have consistent track record for past 2-3 years. Make sure you monitor the performance of each MF every quarter and replace the non-performing funds with better ones in the market
Re: b
by Ram Lakhan on May 21, 2012 01:56 PM
Whether LIC Term plan is OK as compared to others? Can we add accidental benefits, permanant diabilty , critcal illness to this? Please advise
Further to above discussions, a term policy shall give cover until 15-20 yrs. from the start of the policy. If your age is 30 and you get a term policy, the insurance benefit shall be available till the age of 50 Yrs. in general. If one outlives the term, for age 50 yrs. onwards, there shall be no insurance cover in case of demise of the bread earner. At age 50yrs. most will not prefer to go for another term policy as the premium shall be too high and the cover shall be too low.
A whole life policy on other had shall give insurance cover until the death of the policy holder and shall involve payments of premium till the policy holder survives. This has a drawback that at retirement, the policy holder will have to pay from savings kept for retirement which may not be preferable. These payment may be planned during the pre retirement years wherein a part of income may be kept aside out of savings.
There is a mid way wherein one goes for a whole life policy having premium payment option only for limited years / until the retirement age of policy holder. This policy shall give death benefit for whole life of the policy holder and shall have a premium mid of endowment and term policy.
Re: Whole life vs Term policy
by ChemTech India on May 21, 2012 10:28 AM
u must be a insurer agent whose life goes on cheating, don't try to fool people, term insurance can go upto 25-30 yrs cover, cheater.....
Re: Re: Whole life vs Term policy
by ritesh srivastav on May 21, 2012 02:35 PM
Very True.. Either Ashish is cheater LIC agent or he himself dont know.. Term insurance can go till 35 yrs.. I have recently taken one with my curent age being 30 Yrs ..
when u take 10,00,000 of jeevan mitra triple cover it gives you a risk coverage of 30,00,000 for 15 years. so you have to compare 30,00,000 of term insurance please be careful when doing the coparison
Re: wrong information
by Aruna chalam on May 19, 2012 01:28 PM
For triple cover, premium will be more. Please look at the premium mentioned by the author here.
Re: Re: wrong information
by kiran kumar on May 21, 2012 05:12 PM
Triple cover premium is same 69829. And Jeevan Amulya premium is 6240. the left over amount accumulates to 18 lacs in PPF (assuming no Tax and @8%). When tax comes into picture (say you go for a Bank FD) returns diminish much more.
But the fact remains that if you are unable to pay the premium after 4 years due to some reason that is not covered in your plan (recession etc) and you are forced to surrender your plan, you hardly get anything back in case of endowment plan, in case of term plan, your policy lapses and when good days are back you can start another plan with slightly higher premium (due to your age).
Also in case of death, returns from term insurance PPF is more enticing than endowment.
you can choose to build your insurance coverage by buying multiple single premium term plans over a period of time. This way you eliminate the risk of the policy being lapsed due to non payment of premium.
Re: wrong information
by vithi eswar on May 19, 2012 01:37 PM
again..an insurance agent here...jeevan mittra triple cover premium just for 1 lac is Rs.4750 compared with term policy this is very hefty amount.
People usually fall in a trap by buying endowment policy as the agents get an hefty commision of 25%. Life insurance is purely insurance and should be considered as a investment. One is free to invest the surplus in mutual funds, stocks, PPF etc where he may get better returns
