Hi All,
I had taken a Jeevan Saral plan with half yearly premium of 24260 (48520 yearly) for 25 years (MSA 1000000) on Nov 11, 2013 and my DOB is 15/08/1987.When i had opted for this plan at that time i was looking for a plan that gives me insurance + saving.
The chart of Jeevan Saral looks goods its show 54 lakhs in 25 years. So i had talked to the agent, after the discussion with him he told i would get 32 lakhs (appox) in worst case. I was surprised to hear why so much difference he said he had computed with 6% + loyalty because lic rate of return is not fixed.
So i was convinced giving i.e -> 25 * 48000=1200000 Lakhs and getting 32 lakhs. (whether i will get this much?)
I have paid 1 year’s premium till date.
Now there so many questions coming in mind are as follows:
1) If I deposits 4000 p/m in RD or PPF account return will get more return but no insurance.
2) If i surrender the policy in one year then i will lost the whole money.
3) If a buy a term plan of 50 lakh (its max premium will be 10000)
3) What if maid this policy paid-up?
4) Getting 32 lakhs after 25 year will meet the inflation at that time.
So my question is whether I should continue the policy and if i made is paid-up then how much i would get ? Or is there any valuable suggestion then please share with me.
Looking forward for your valuable suggestion.
Thanks,
Shalabh