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POSTED BY ON April 24, 2013 10:15 am COMMENTS (4)
Hi Manish,
Could you please guide me whether LIC career plan is worth investing?
LIC agent said , it is assured money back policy along with insurance cover.
Plan name: LIC child career plan(184)
Premium Paying Term = 18 Years
The leaflet shows that I will ge getting following amount for SA 5,00,000/=
Money back:
18th year = 5,10,000/-
19th Year = 75000/-
20th Year = 75000/-
21th Year = 75000/-
22nd Year = 75000/-
23rd Year = 3,75000/-
Total premium paid = 4,45,050/= ( for 18 years, each premium 24725 = 4, 45,050)
Money return = 11,85,000/-
I have one year old daughter i am planning to do some investments to help finacially during her higher education after 18 years.
Thanks,
Rajendran
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As i can see its just doubling your money but in 23 years..also please note that considering 6% inflation each year after 23 years these 75000 etc would be just trifles..don’t just get carried away by the “child” word attached but infact every child plan is a waste..better go for endowment plans like jeevan mitra triple cover which has high bonus additions..
Dear Rajendran, do you love your family or agent’s family? In which case your family ‘ll be happy for your choice. Getting some 5-7-10L Rs. from this LIC child career plan for your death & then searching the ways to survive or getting 50L or 75L or 1Cr. Rs. as sum assured & living worry free.
think over it.
thanks
Ashal
Dear Rajendran,
I fully agree with what PM said.Please get the ONLINE Term Plan ASAP & annual saving of at least from 50K to 1Lacs(what is possible for you) with say 8% rate.DOn’t go for any of the child plans as it is goiing to return just 4% at last which is far lower than the inflation rate.
Get thoroughly throu the awsome link which opens our eyes.Thanks for that Manish.
Thanks,
Sona.
Stay away for your own good.
Read:
http://jagoinvestor.dev.diginnovators.site/2012/02/create-best-child-policy.html