Hi
I have been suggested to invest in HDFC Life Super Income Plan by a friendly agent (who is our family friend :D). As per his explanation, The plan is for 16 years. I need to pay premium of Rs.72,200 for first 8 years. From 9-15 years, I will get payout of Rs.50,000 every year and at the end of maturity (16th year) I might get a lump sum of amount with bonuses, totaling around Rs.15 Lakhs.
I seriously doubt the agent’s illustration, as I gone through product brochure it clearly stats final maturity is my last pay out+bonuses, which is too less and in total I will get only around 7.5 Lakhs (with rough assumptions of bonus rates.). I need some expert advise with illustration on choosing this policy, if i can go ahead with this or not. The agent is behind me to push me into this 🙂 I really don\’t want to waste my investment amount, for 16 years with low return of investment. Kindly advise.