it is said that if I invest 10000/- each for three years in LICs Money Plus and then from 4th year withdrawing and repaying 10000 for 10 years I will get 3 lacs and if i do the same for 20 years i get 6 lacs.( Note that My investment is only 30000/-) Please explain
2007-03-02 00:13:59 · 4 answers · asked by John P 1 in Business & Finance ➔ Insurance
So many people are misguided with such a wrong information.
Money plus of LIC is unit linked insurance policy. The money you pay will be invested in equity market to make higher returns. But these returns are based on market volatility may grow up or even down.
The returns are not guaranteed. As per IRDA regulations, prjections may be between 6% to 10%
for more details please feel free to write to pnkmurthy@yahoo.com
2007-03-05 22:58:40 · answer #1 · answered by toknowmore 4 · 0⤊ 0⤋
you will get this amt. provided the return is 25% annualy. u should pay the premium from ur own sources and expect a return of appox. 15% p.a which will give you a handsome amount of appox. 8-10 lacs in 20 yrs. for more cont. 9868115149
2007-03-02 12:19:31 · answer #2 · answered by deepak k 2 · 0⤊ 0⤋
this is misunderstanding advice by lic agents. i feel this is a ULIP policy but how can them promise it.who give the guarety fot.? did lic guarenty for the money back. it is cheating by LIC and its agents
2007-03-02 08:27:56 · answer #3 · answered by keral 6 · 0⤊ 0⤋
this is not really, if take Reliance life in ULIP, calculate 15% in case past performance is 41%(since 2004) if you choose reliance life, contact 9994455819
2007-03-02 09:39:12 · answer #4 · answered by ravi 2 · 0⤊ 0⤋