Am I overinvesting in LIC Pension Plan (Jeevan Anand) ?

POSTED BY Sreenivasa Murthy ON March 3, 2014 9:08 am COMMENTS (3)

I have taken LIC’s Jeevan Anand on 2011-Nov (when I turned 40). I need to pay 3 lakhs per annum till I am 55 and I will be getting 50 K pension every month from 56 till 75 yrs. There is also life cover of 90 lakhs which will be given to my nominee irrespective my pension received.

I heard lot of people saying I am investing too much every year and suggesting other plans. I really wanted a best advice on pension planning.

Thanks

Sreeni

3 replies on this article “Am I overinvesting in LIC Pension Plan (Jeevan Anand) ?”

  1. sbpati says:

    Hi Ashal – Thanks for your response.

    I got the complete plan details including year by year pension details starting from 56 to 75 yrs from the agent and his officer. I met the senior official in office before investing. Unfortunately I am not able to attach the copy here. There is another plan which will give lumpsum amount at the end of maturity. I will think over it definitely.

    1. ashalanshu says:

      Dear Sbpati, please feel free to share the plan detail on my personal mail id. 🙂

      Thanks

      Ashal

  2. ashalanshu says:

    Dear Sreeni, who said Jeevan Anand is a pension plan? It’s a whole time endowment plan. You ‘ll get a lump sum money at the time of normal policy maturity and once you die after receiving this lump sum money in few years, your family ‘ll receive the basic sum assured. From your query it seems your agent has some how fooled you. Yes I may sound rude to you but that’s the truth. Now question is – are you ready to learn from your mistakes and to amend the ways? Only you can answer as the change in your way ‘ll be a costly affair but certainly less than this Jeevan Anand, if you opt to continue.

    Thanks

    Ashal

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