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POSTED BY ON August 24, 2012 11:52 pm COMMENTS (3)
Hello ,
I came across one of the products in market which looks attractive from consumer side. I didn’t come across much analysis and debate around it. If I am missing anything or if it has been already discussed please enlighten me.
Product is “Aviva Family Income Builder”.
What I read is it’s 6% interest + some tax benefit on your investment. It’ll be great to have inputs on it as a product from experts here. Question is that, is it easily achievable otherwise using other available products in market? Who is the target audience for this product?
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Dear All
after reading your taughts i am feeling good about this product as i have invested for a long term goal of my daughter education
Dear Nitin, You may achieve better results than this product if you are ready to take pain for some gain. Please understand the theme of dear Manish’s reply. The policy in question is a simple product designed for persons who can easily figure out their needs based upon the money back structure of the plan.
Thanks
Ashal
Nitin
I had met Gaurav Rajput from Aviva, the head of sales in the company, when he launched this product in Pune . He told me this is a very simple product, designed for those who wants to keep it simple .
Pay for 12 yrs , and get double each year for next 12 yrs, Even if you die in between, you dont pay anything further, but still you get what was promised in the next 12 yrs part . This is all the product is all about.
If you look at it from returns point of view, you can do IRR analysis yourself on excel , the returns obviously is in league with debt products – around 7 or 7.5% . But then there are people who want simplicity and security and dont want to complicate things . They want simple structures . Hence if you feel you fall into that category , you can consider it , obviously its much better than other kind of endowment products .
Manish