POSTED BY October 30, 2012 3:17 pm COMMENTS (4)ON
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.
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4 replies on this article “Max Life Insurance Guaranteed Monthly Income Plan”
Dear Arvind, had you invested in this plan or not? Please update us.
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 .
Just my personal opinion…..better to stay away from max life insurance products…!!
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.