February 10, 2013 4:51 pm
I have taken Jeevan Tarang Policy 3 years back .My monthly premium is Rs10000.I wanted a pension plan so i was recomended this policy.What are the views on this policy.Is it worth?
Dear Sunny, please clarify your requirement. Do you want to invest in a pension plan or do you want to save n invest now to get pension in your later years of your life?
One of the worst policy, i have ever seen. Long term return would be less than average inflation. Surrender it. If you surrender after paying premium for 3 years, you are eligible for surrender value which would be close to 30%-40%. However, you have to pay tax that you saved through 80C in last 2 financial year.
Don’t mix Insurance and Investment.
Buy online term plan policy from HDFC or ICICI. (At least 15 times of your annual income + liability). Invest your money in equity for long term. (Direct in stock market if you have knowledge or Diversified equity Mutual fund).
Since your premium is 1.2 lacs per annum. Therefore, You take 1 crore term insurance with 10-20k. Remaining 1 lacs in equity for long term. 9k per month will translate close to 1 core after 20 years with 13% return.
Your email address will not be published. Required fields are marked *
Please subscribe me to your Email Newsletters
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Download Our FREE Ebook!
Available only for first 100 people today
New here? Create an account