chandannasta 4 Report post Posted January 13, 2010 Guys I have heard from one of my colleagues in office that if we invest in Jeevan Saral LIC 36000 Rs for 6 years then we get more then 600000 in hand. Is this true guys I wanna know? Share this post Link to post Share on other sites
::Hitesh:: 1,763 Report post Posted January 13, 2010 ^^^ You will not get that money, your family will get it after you go to haven !!! But LIC is best for returning the money as per your taken plan... Share this post Link to post Share on other sites
chandannasta 4 Report post Posted January 13, 2010 Are you sure becoz my friend is very young and he got it. Share this post Link to post Share on other sites
::Hitesh:: 1,763 Report post Posted January 13, 2010 ^^^ When did he got 6Lakhs in hand ? after ending of 6th year? Share this post Link to post Share on other sites
chandannasta 4 Report post Posted January 13, 2010 I confirmed with him again and he said its for 10 years he paid 360000 and he got 600000. My mistake in my earlier response its 10 yrs and not 6 years Share this post Link to post Share on other sites
Arun 795 Report post Posted January 13, 2010 Is it a market linked plan? Share this post Link to post Share on other sites
commonman 228 Report post Posted January 13, 2010 Please go through the Benefit Illustration of LIC Jeevan Saral in the official website. It will be an eye-opener. LIC Jeevan Saral Share this post Link to post Share on other sites
chandannasta 4 Report post Posted January 13, 2010 commonman go through this site and u will get to know if I m saying the truth or if I am wrong http://www.licindias.com/jeevan-saral-by-lic.html Share this post Link to post Share on other sites
commonman 228 Report post Posted January 13, 2010 ^^^ The site is not the official site. As has been very clearly indicated in LIC site, the scheme does not have any guaranteed rate of return and return is dependent on market conditions. Under such a situation, the projection of Rs.6.38 Lakhs in after investing Rs.3000 every month for 120 months is still not guaranteed. On the other hand, Rs.3000 invested every month for 120 months in PPF gives guaranteed return of 8% i.e. around Rs.5.50 Lakhs in which interest is absolutely Tax free and tax benefit is also available on investment. 1 Share this post Link to post Share on other sites
aalok 442 Report post Posted January 13, 2010 ^ informative sir.. +1 for you.. Share this post Link to post Share on other sites
chandannasta 4 Report post Posted January 13, 2010 Common man as you mentioned On the other hand, Rs.3000 invested every month for 120 months in PPF gives guaranteed return of 8% i.e. around Rs.5.50 Lakhs in which interest is absolutely Tax free and tax benefit is also available on investment. Check this PPF calculator over here: http://www.personalfn.com/tax/calc/ShowPPF.Asp Assumption: Fixed investment per annum = Rs 36,000 YEAR OPENING INVESTMENT TOTAL INTEREST CLOSING WITHDRAWAL LOAN BALANCE(Rs) (Rs) INVESTMENT(Rs) (Rs) BALANCE(Rs) LIMIT (Rs) POSSIBLE (Rs) 1 0 36,000 36,000 2,880 38,880 - - 2 38,880 36,000 74,880 5,990 80,870 - - 3 80,870 36,000 116,870 9,350 126,220 - 9,720 4 126,220 36,000 162,220 12,978 175,198 - 20,218 5 175,198 36,000 211,198 16,896 228,093 - 31,555 6 228,093 36,000 264,093 21,127 285,221 - - 7 285,221 36,000 321,221 25,698 346,919 87,599 - 8 346,919 36,000 382,919 30,633 413,552 114,047 - 9 413,552 36,000 449,552 35,964 485,516 142,610 - 10 485,516 36,000 521,516 41,721 563,238 173,459 - 11 563,238 36,000 599,238 47,939 647,177 206,776 - 12 647,177 36,000 683,177 54,654 737,831 242,758 - 13 737,831 36,000 773,831 61,906 835,737 281,619 - 14 835,737 36,000 871,737 69,739 941,476 323,588 - 15 941,476 36,000 977,476 78,198 1,055,674 368,915 Share this post Link to post Share on other sites
chandannasta 4 Report post Posted January 13, 2010 http://www.licindia.in/special_plan_001_illustration.htm Can some 1 explain me wht is scenario 1 and 2 in this plan provided like wht do u mean by that. Share this post Link to post Share on other sites
ACS 130 Report post Posted January 13, 2010 Anything with a one shot payment of 1 lac which stays invested for 4-5 yrs or 10 yrs.. I don't trust these market linked plans.. but maybe they payback max.. isn't it ? Share this post Link to post Share on other sites
Anil_S 6 Report post Posted January 14, 2010 (edited) Investment & Insurance are totally 2 different things. Its only in countries like ours Insurance is sold as investment product. The main reason is Insurance company gets a paying customer for appox 20 yrs & the agent gets good commission. Best way is to keep insurance & Investment separately. Go through sites like value research online. You will understand what it mean. Go for pure term insurance to cover your risk. The premium will be low but the risk will be covered & you will not get any thing after the completion on term. For investment consult a financial adviser. Simple way is to start SIP for the balance amount ( after deducting insurance premium paid by you) in a good diversified mutual fund. For that you may go through site valueresearchonline.com for fund rating. anil Edited January 14, 2010 by Anil_S Share this post Link to post Share on other sites
Anil_S 6 Report post Posted January 14, 2010 Investment & Insurance are totally 2 different things. Its only in countries like ours Insurance is sold as investment product. The main reason is Insurance company gets a paying customer for appox 20 yrs & the agent gets good commission. Best way is to keep insurance & Investment separately. Go through sites like value research online. You will understand what it mean. Go for pure term insurance to cover your risk. The premium will be low but the risk will be covered & you will not get any thing after the completion on term. For investment consult a financial adviser. Simple way is to start SIP for the balance amount ( after deducting insurance premium paid by you) in a good diversified mutual fund. For that you may go through site valueresearchonline.com for fund rating. anil Share this post Link to post Share on other sites
ani_meher 42 Report post Posted January 14, 2010 I agree to keep the investment seperate from insurance. Investment is something you enjoy afterwards, insurance is something your survivors enjoy after you! I have noticed religare has the cheapest term insurance premium. Share this post Link to post Share on other sites
chandannasta 4 Report post Posted January 15, 2010 I can save every month 2k-3k approximately and want to invest in some nice thing where I could achive good returns also which includes insurance and it should get included under tax 80/c also. So is there anything which you guys would like to suggest. Also I have never invested in my entire life. So I am starting my investment for the first time and would like to hear from people if they have done any investment till date have they got the benefit of that amount till date. If yes then how much have you invested every month and for how many years and how much have you received till now? Share this post Link to post Share on other sites