Max Life Insurance Guaranteed Monthly Income Plan

POSTED BY Arvind Karkera ON October 30, 2012 3:17 pm COMMENTS (4)

Dear manish, I would like your opinion about this above mentioned Policy.

I am 65 years of age. Premium term 6 yrs. Sum assured Rs. 15.3 L Annual Premium is Rs.2,24,289. Returns will start from 7th year onwards with Rs. 8,500 p.m. for 5 yrs. And after that Rs. 20,000 p.m. for 5 yrs. and Rs. 49,000 p.m.appx. for 1 yr.

4 replies on this article “Max Life Insurance Guaranteed Monthly Income Plan”

  1. Dear Arvind, had you invested in this plan or not? Please update us.

    Thanks

    Ashal

  2. This seems to be a pension kind of product. I hope what ever you have mentioned in your question is also into the agreement . If thats the case, i think you want a comment on how good it is compared to the best you could have done .

    I would have rather put the money in a RD for 6 yrs , and then would have just opted for quarterly interest

    Also Senior Citizen Saving scheme would have given good return .

    Manish

  3. suhel desai says:

    Just my personal opinion…..better to stay away from max life insurance products…!!

  4. Dominic Prakash says:

    I am not sure about the Guarantee part. As per your statement and simple excel calculation you will be getting a rate of 6% as return. Surely post office MIS (8%) and SBI’s Senior Citizen Saving Scheme (9%) would give you more.

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