POSTED BY Atin Sehgal ON June 22, 2013 11:05 am COMMENTS (4)

Received a mailer two days back, am wondering if there is any value or rather is it worth it:-


Dear Friend,
We would like to inform you that LIC has introduced a Unique Saving-cum-Insurance package “SWARNIM MONEY BACK PACKAGE”. This package has been framed specially to meet out the periodical financial requirements of the Individual because every-one has to fulfill his/her financial responsibilities for the plan and non-plan activities. This package helps in both the situation of life.The main features of this package are as follows:
1.  Saving Rs.25000 to 27000 Per Year for 20 Years.
2.  Return:
     After – 4 Year    = Rs.  20000/-
                5 Yea     = Rs.  20000/-
                8 Year    = Rs.  20000/-
              10 Year    = Rs.  20000/-
              12 Year    = Rs.  20000/-
              15 Year    = Rs.  20000/-
              16 Year    = Rs.  20000/-
              17 Year    = Rs.  20000/-
              18 Year    = Rs.  20000/-
              19 Year    = Rs.  20000/-
              20 Year    = Rs.572000/-
              21 Year    = Rs.189000/-
3.    Insurance Cover  –  Rs.500000/-
4.    Accidental Insurance Cover  –  Rs.1000000/-
5.    Free Insurance Cover after Maturity upto 10 Years – 100000/-
6.    Income Tax Rebate under sec.80 (c)
7.    TDS Exemption on Return Amount.
8.    Premium can be paid Yearly, Half-yearly or Quarterly.
9.    Option to Increase or decrease the Premium Amount.
10.  Instant Door-Step Services.
      It is presumed that you will grasp this opportunity for the multiple benefits for your-self as well as for your beloved family.
Please mail us your Name & Mobile that our Executives could contact you for an appointment to inform you the complele detail of this LIC’s Unique Money Back Package.

4 replies on this article “Is this worth it … SWARNIM MONEY BACK PACKAGE”

    1. Mayank says:

      Hi Manish,
      Can you please tell me the reason for avoiding it,actually I bought this policy in 2012 and have paid almost 3 premiums till date but now I feel I should have bought term plan instead of that as it would hit my pocket financially if I buy term plan(>1 Crore) now .ANy suggestion If I should surrender/pay off/withdraw from this policy and buy a term plan.
      Appreciate your response.

      1. You should make this a paid up policy if you do not want the money right now. Once done, then you purchase the term plan ..

  1. Ramesh says:

    One more ‘safety with supposedly high yield’ plan.
    Doesnt work.

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