I wanted to do a money back policy for my wife. My insurance agent suggested to go for LIC new jeevan anand policy. Policy matures at 25 years and premium tenure is of 20 years.
Premium amount is Rs 20,187.00 annually for first 15 years and Rs.12,000.00 for next 5 years. Money back starts in with Rs. 20,000.00 & Rs.15,000.00 respectively at 4th & 5th year, simillary at 9th & 10 year and 14th & 15th year of same amount. At 19th year money back is Rs.1,44,000.00; in 20th year Rs.2,04,000.0, at 25th final year it is Rs. 1,62,500.00. Insurance cover is Rs.3.75 Lacs till 20 years and Rs.2.5 Lac for 20 to 25 Years. Insurance cover of 1 Lac is for whole life till 100 years. It has accidental coverage, loan benefit and tax exemption benefit.
I wanted a money back policy for shorter duration but this seems the only policy available from LIC. Also returns at initial years are lesser than actual investment. I looked for tables in LIC website but could not make any connection. Any one who has any idea please share if this is a good policy. Regards, Priyojit