One of the lic agents told me the following details about money plus policy. Pay 1lakh as premium for 3 years and after 20 years I'll get 30 lakhs as return. Is it true? Does anyone have any idea and it is also told to me that the policy is going to close in a week or 2. Please tell me if any of you have idea on this
2007-03-06 15:41:58 · 4 answers · asked by Saatvika 1 in Business & Finance ➔ Insurance
ya.. it is true... and query in LIC office not in Yahoo answers
2007-03-06 16:08:44 · answer #1 · answered by Rajni 2 · 0⤊ 1⤋
Dear friend
I am a LIC agent too
Money Plus is a Unit Linked Insurance Plan
Your money gets invested into Share markets. So, the growth of your money totally depends on the market conditions. Presently, LIC's Jeevan Plus is growing at a whopping rate of 42% per annum. However, Future Plus is growing at 30% and Market Plus at 25%. Money Plus is a new plan which has come recently. It has just started performing. If we assume that this plan will yield a growth of 20% per annum, you can get 30 lacs at the end of 20 years.
But everything depends on the market conditions.
Nextly, you are actually required to pay the premium for 20 years. However, in this policy, there is a provision that, you can pay it for 3 years. From the 4th year, your units in the account will be sold and new units will be repurchased. Thus, there is no need for you to actually pay anything from the pocket.
Please do contact me for any details that you need. I can give you some exciting offers too
2007-03-10 07:40:09 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Dear Lasya
Money Plus is LIC's Unit linked insurance policy. Unit linked policy investments or invested in money markets and money markets are risk involved. Past performance is not guaranteed on future performance. however If you need alternative ideas and best suggestions you may contact pnkmurthy@yahoo.com
2007-03-10 20:45:46 · answer #3 · answered by toknowmore 4 · 0⤊ 0⤋
it is not true,bcoz money plus plan is a ulip plan.in tis plan investments r subject to market risks.we cant predict the maturity amt.
2007-03-07 00:04:30 · answer #4 · answered by GANESH P 1 · 0⤊ 0⤋