Dear Manish,
Can you help me with this. I also have a Jeevan Surabhi Policy taken in 2008. Till now I have paid 3 premiums and terms of the policy are as follows:

Sum Assured – 3Lac
Yearly Premium – 26574.00
I will receive 25% of the sum assured (i.e 75000) after 4th, 8th, 12th and 15th year. And during maturity I will get the bonus.

Can you tell me how to calculate the rate of return on the same? And How do you rate this policy.

Sorry dint elaborate, this is a endowment policy from LIC (thats the 107 Plan) say for a tenure of 20 years wherein after every 4 years the insurer recieves 25% of the basic sum assured(Thats about 7lakhs in my case ). The 25% sum is recieved at 4th, 8th ,12 & 15th year. While after ? im a bit confused. hence please provide an insight on this. Im paying a Premium of Rs 63000 Per on the same policy, money gets deducted from my PF account, in which i already deposite Rs 6000 pm. As per my calculations after the fourth year i need put any money into my PF account , still the premiums will continue getting deducted, due the interest @8% and payback every 4th year.
So the policy remains in force and i can invest that money into SIP. But thats after 4 years. What do you say should i continue or close this policy?

Also after 15th year LIC will pay premium on my behalf. Policy remains in force.
But as per my calculations after 20 years my PF account will have mear Rs 241725.614126399 + whatever bonus these guys (LIC) gives at maturity.

Policy cover also increases after every 5 years. I know its extremely complex, but this is how he fooled me. But when i read ur articles, i started recalculating everything. hence so much effort but still to get your advice i posted the link.

This is Jeevan Surabhi Plan with 20 yrs of period , you will get 25% sum assured at 4,8,12,15th year , and at the end you will only get Bonus thats all ..

From your comemnt , I can see that the agent has sold you all the dreams in the world

And I am not aware of the Bonus amount that i will get on maturity.

Tarun

Dear Manish,

Can you help me with this. I also have a Jeevan Surabhi Policy taken in 2008. Till now I have paid 3 premiums and terms of the policy are as follows:

Sum Assured – 3Lac

Yearly Premium – 26574.00

I will receive 25% of the sum assured (i.e 75000) after 4th, 8th, 12th and 15th year. And during maturity I will get the bonus.

Can you tell me how to calculate the rate of return on the same? And How do you rate this policy.

Tarun

Comment on what point ?

Sorry dint elaborate, this is a endowment policy from LIC (thats the 107 Plan) say for a tenure of 20 years wherein after every 4 years the insurer recieves 25% of the basic sum assured(Thats about 7lakhs in my case ). The 25% sum is recieved at 4th, 8th ,12 & 15th year. While after ? im a bit confused. hence please provide an insight on this. Im paying a Premium of Rs 63000 Per on the same policy, money gets deducted from my PF account, in which i already deposite Rs 6000 pm. As per my calculations after the fourth year i need put any money into my PF account , still the premiums will continue getting deducted, due the interest @8% and payback every 4th year.

So the policy remains in force and i can invest that money into SIP. But thats after 4 years. What do you say should i continue or close this policy?

Also after 15th year LIC will pay premium on my behalf. Policy remains in force.

But as per my calculations after 20 years my PF account will have mear Rs 241725.614126399 + whatever bonus these guys (LIC) gives at maturity.

Policy cover also increases after every 5 years. I know its extremely complex, but this is how he fooled me. But when i read ur articles, i started recalculating everything. hence so much effort but still to get your advice i posted the link.

Please advice.

Avinash

This is Jeevan Surabhi Plan with 20 yrs of period , you will get 25% sum assured at 4,8,12,15th year , and at the end you will only get Bonus thats all ..

From your comemnt , I can see that the agent has sold you all the dreams in the world

Surrender the policy

Manish