Hi , Thanks for all your valuable comments. I need your help to understand whether I’m going for right plan.
My LIC agent has suggested me Limited payment whole life with profit plan (table 5). Premium per year is 31000. SA is 9,00,000. Premium paying terms is 20 years. Maturity is at age of 80. Risk cover given is 9 lac from first year and keep on increasing till 71 lac towards the maturity i.e. it increases by 50,000 every year. Maturity benefit is around 71 lac.
Can you please let me know if this is good plan to buy, as risk cover appear to be good. Of course the guaranteed risk cover is 9 lac but including bonuses it goes upto 71 lac. Please help.