1 lakh monthly pension after 25 yrs by paying 2.33 lacs per year for 10 yrs

POSTED BY jovita ON March 12, 2014 4:10 pm COMMENTS (4)

An agent offered me an LIC policy which tells if i pay 2 lakh 33 thousand yearly for 10 years. We will get 1 lakh monthly after 25 years. And get rs 10000000 of life insurance on ship/ground/accidental cover and 35 lakhs of natural cover 365 days a year.
I need your advice.

4 replies on this article “1 lakh monthly pension after 25 yrs by paying 2.33 lacs per year for 10 yrs”

  1. ashalanshu says:
    March 13, 2014 at 9:24 am

    Dear Jovita, as of now 1L Rs. mly seems very fascinating. Is it really so after 25Y? Please answer it on the basis of impact of inflation to your money?

    Thanks

    Ashal

    Reply
  2. Hemanth Chandra says:
    March 12, 2014 at 8:09 pm

    Hi jovitha,

    What is the plan name ?

    Regards,
    Hemanth.

    Reply
  3. investngrow says:
    March 12, 2014 at 5:45 pm

    Dear jovita,

    Make your own simulation, if you invest the same amount in RD for 10 years and invest the maturity amount in FD for additional 15 years (Total 25 years), just interest part will be more than 1 lac (for eternal period). Apart from that the accumulated capital is yours…

    Reply
    1. investngrow says:
      March 12, 2014 at 5:49 pm

      Ofcourse assuming on current interest rates. For insurance part, you can opt for term insurance policy (from marginal interest income)

      Reply

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