I got a call from LIC’s Jeevan Prakash office in Delhi regarding LIC’s jeevan saral atm plan with which they were offering jeevan aarogya free for the whole term. I asked for a personal visit as I was interested. Here is the policydetails:
1) Invest for 15 Years
2) Annual EMI- Rs 48,000
3) Guaranteed Maturity Value (after full 15yrs completion)- Rs 20,13,466
4) Jeevan Arogya Health Insurance Plan free- Sum Insured Rs 4,00,000
5) Jeevan Arogya’s premium will be paid on my behalf annually for the whole 15 years or till the policy is alive.
It turns out that LIC is giving me a whopping 12.054% of assured returns. Plus a health insurance plan free whose annual premium is appox Rs 4000 for my age (I am 24 years old). This sounds too good to be true. Although I have enrolled for the plan, but I have given a PDC to the guy. I have recorded all the tele conversations we had so that I can use it as proof later on if need arises.
Should I proceed to buy this plan?? Please let me know any catches that I am missing here.
Is it really assured returns? The LIC guy says that the this value will be written in the bond papers.
This person claims he is directly from LIC New Delhi, Jeevan Prakash branch and NOT an agent. They are also giving a jeevan aarogya policy with sum insured of Rs 4,00,000. His name is Mr Abdul Qadir, email – licjeevansaral.atm@gmail.com
Will be grateful if you can validate this plan.