Public Provident Fund vs Jeevan Anand

May 31, 2011   ·   60 Comments

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Do you ever wonder how much maturity amount an endowment policy built up to? Which one is a better product? LIC or Public provident fund. Both are safe, debt instruments.So which one offers higher return? Here we try to answer these few questions.

http://stockssavvy.comI visited my native place where I got the chance to catch up with my Cousin Brother after a long time. We were discussing about the Financial planning when I noticed that my brother is putting all the tax saving in LIC Jeevan Anand instead of PPF (Public provident Fund). This kept me thinking if LIC Jeevan Anand is really worth investing over PPF? Finally I came across & reviewed both the product to come on a decision.

This was snapshot of the verbatim between my Brother & I:

Brother: I am apprehensive about investing in shares. I have taken the Jeevan Anand policy for 15 years as this is the same minimum duration for which PPF account needs to be continued. I have taken a policy for 15 years with a Premium of 35,000 Rs. per annum LIC will be paying me back 12-13 Lac Rs. after 15 years. I have done the math. If you do a Recurring Deposit or PPF for 35,000 Rs. for 15 years, one won’t get this much amount as LIC is going to pay me. I am getting an additional benefit of 5 Lac rs. which is a whole life cover. Moreover, my agent has asked me to pay only half the premium amount in the first year which means I am paying 17,500 Rs only for first year.

I: Did LIC have given you anywhere in written that you will be getting the amount mentioned?

Brother: No, but agent is my very good friend & he is development officer. He calculated the amount for me.

I: Do you ever think why he is paying the other half of your first premium for you?

Brother: As he is development officer, he is not getting anything out of it.

I guess my brother had an assumption that either because LIC agent is his friend, he is getting this deal or there is competition in the market due to which he is saving a buck. At no point, I tried made him understand that sharing LIC Commission is a criminal offense & development officer doesn’t have the authority to give LIC policies to the people. My focus was to bring reality to him & make him understand the worth of his money.

Without wasting any time, let me start the Review of PPF Vs LIC Jeevan Anand Policy Vs EPF(Employee Provident Fund)

Let us review the PPF in a Nutshell:

What is the Public Provident Fund (PPF)?
The PPF is a long-term, government backed small savings scheme of the Central Government started with the objective of providing old age income security to the workers in the unorganized sector and self-employed individuals.

What is the interest rate offered through PPF?

Currently, the interest rate offered through PPF is around 8%, which is compounded annually. Interest is calculated on the lowest balance between the fifth day and last day of the calendar month and is credited to the account on 31st March every year. So to derive the maximum, the deposits should be made between 1st and 5th day of the month.

What is duration of the investment?

People who are interested in liquidity or small-term gains would not be very keen about PPF because the duration for the investment is 15 years. However, the effective period works out to 16 years i.e., the year of opening the account and adding 15 years to it. The contribution made in the 16th financial year will not earn any interest but one can take advantage of the tax rebate.
The account holder has an option to extend the PPF account for any period in a block of 5 years after the minimum duration elapses. The account holder can retain the account after maturity for any period without making any further deposits. The balance in the account will continue to earn interest at normal rate as admissible on PPF account till the account is closed.

What is the minimum and maximum amount of deposit?

The minimum deposit that you can make into a PPF account in one whole financial year is Rs. 500. The maximum is Rs. 70, 000.

Who can open a PPF account and where?

A PPF account can be opened by an individual (salaried or non-salaried). An individual can open only one PPF account to which he contributes. A PPF account can also be opened in the name of your spouse or children.
It can be opened with a minimum deposit of Rs. 100 at any branch of the State Bank of India (SBI) or branches of it’s associated banks like the State Bank of Mysore or Hyderabad. The account can also be opened at the branches of a few nationalized banks, like the Bank of India, Central Bank of India and Bank of Baroda, and at any head post office or general post office.

What are the tax benefits from PPF?

The amount you invest is eligible for deduction under the Rs. 1, 00,000 limit of Section 80C. On maturity, the entire amount including the interest is non-taxable.

Is it possible to withdraw the amount deposited at any time during the tenure?
Yes. You can take a loan on the PPF from the third year of opening your account to the sixth year. So, if the account is opened during the financial year 2009-10, the first loan can be taken during financial year 2011-12 (the financial year is from April 1 to March 31).
The loan amount will be up to a maximum of 25% of the balance in your account at the end of the first financial year. You can make withdrawals during any one year from the sixth year.
You are allowed to withdraw 50% of the balance at the end of the fourth year, preceding the year in which the amount is withdrawn or the end of the preceding year whichever is lower. For e.g., if the account was opened in 2000-01, and the first withdrawal was made during 2006-07, the amount you can withdraw is limited to 50% of the balance as on March 31, 2003, or March 31, 2006, whichever is lower.

Let us Review the Jeevan Anand Policy:

JEEVAN ANAND’ a with Profit Assurance Plan. Basically, the plan is a combination of the Whole Life Plan and the most Popular Endowment Assurance Plan. The plan provides the pre-decided Sum cover on the life continues till death.

Salient Features

  • The plan combines the virtues of both whole life plan and endowment plan.
  • Under the plan, premiums are limited to the term chosen and benefits are payable on the date of maturity. But the insurance cover on the life assured continues till death, like a whole life policy.
  • Bonus accrues during the premium paying term and is payable at the end of the premium paying term or on earlier death along with Final Additional Bonus. No Bonus is paid on death after the premium paying term.
  • Double Accident Benefit is available during the premium paying term and thereafter up to age 70 where in additional sum assured is payable on death due to an accident. This benefit is built in and no additional premiums needs to be paid. Maximum Accident Cover available under this plan will be Rs. 5,00,000/- (this limit excludes accident benefit taken under other plans).
  • Loans will be granted against the surrender value of the policy after payment of premiums for at least 3 years. Interest on such loans will be fixed by the corporation from time to time.

Benefits

  • Survival Benefits: Sum Assured along with all vested bonus payable at the end of the premium paying term (Endowment term). Policy does not cease and insurance cover continues till death.
  • Death Benefits:Bonus: Simple Reversionary Bonus accures during the premium paying term and is payable at the end of the premiumpaying term or on earlier death along with Final Additional Bonus, if any. No Bonus is paid on death after premium paying term.
    • On death with in the term: Sum Assured along with vested bonus payable on death during the premium paying term.
    • On death after the term of the policy: An amount equal to the Sum Assured is payable on death after the premium paying term
  • Accident Benefits: The double Accident Benefit is available during the premium paying term and thereafter upto age 70. The premium for this has been build into the tabular premium rates, Maximum Accent Cover available under this plan will be Rs.5,00,000/-(this limit excludes accident benefit taken uder other plans.)

Restrictions

  • Minimum Sum Assured : Rs.1,00,000/-
  • Minimum premium must be Rs.800/- per annum
  • Minimum age at entry :18 years (completed)
  • Premium Paying term : 5 years to 57 years
  • Maximum age at entry : 65 years normally but 60 years for single premium policy.

Comparison between the Jeevan Anand Vs PPF Account Vs EPF Account

PPF Calculator:

 

Assume PPF Calculator is extended for a block of 5 years & calculation is done for 20 years. Interest percentage is 8 %.

 

PPF Calculator Results    
Year Opening Balance Your investment Interest Earned Closing Balance
1 रु 0.00 रु 35,000.00 रु 2,800.00 रु 37,800.00
2 रु 37,800.00 रु 35,000.00 रु 5,824.00 रु 78,624.00
3 रु 78,624.00 रु 35,000.00 रु 9,089.92 रु 122,713.92
4 रु 122,713.92 रु 35,000.00 रु 12,617.11 रु 170,331.03
5 रु 170,331.03 रु 35,000.00 रु 16,426.48 रु 221,757.52
6 रु 221,757.52 रु 35,000.00 रु 20,540.60 रु 277,298.12
7 रु 277,298.12 रु 35,000.00 रु 24,983.85 रु 337,281.97
8 रु 337,281.97 रु 35,000.00 रु 29,782.56 रु 402,064.52
9 रु 402,064.52 रु 35,000.00 रु 34,965.16 रु 472,029.69
10 रु 472,029.69 रु 35,000.00 रु 40,562.37 रु 547,592.06
11 रु 547,592.06 रु 35,000.00 रु 46,607.36 रु 629,199.43
12 रु 629,199.43 रु 35,000.00 रु 53,135.95 रु 717,335.38
13 रु 717,335.38 रु 35,000.00 रु 60,186.83 रु 812,522.21
14 रु 812,522.21 रु 35,000.00 रु 67,801.78 रु 915,323.99
15 रु 915,323.99 रु 35,000.00 रु 76,025.92 रु 1,026,349.91

 

EPF Calculator: Interest Percentage on the Employee PF is 9.5%

 

EPF Calculator Results    
Year Opening Balance Your investment Interest Earned Closing Balance
1 रु 0.00 रु 35,000.00 रु 3,325.00 रु 38,325.00
2 रु 38,325.00 रु 35,000.00 रु 6,965.88 रु 80,290.88
3 रु 80,290.88 रु 35,000.00 रु 10,952.63 रु 126,243.51
4 रु 126,243.51 रु 35,000.00 रु 15,318.13 रु 176,561.64
5 रु 176,561.64 रु 35,000.00 रु 20,098.36 रु 231,660.00
6 रु 231,660.00 रु 35,000.00 रु 25,332.70 रु 291,992.70
7 रु 291,992.70 रु 35,000.00 रु 31,064.31 रु 358,057.00
8 रु 358,057.00 रु 35,000.00 रु 37,340.42 रु 430,397.42
9 रु 430,397.42 रु 35,000.00 रु 44,212.75 रु 509,610.17
10 रु 509,610.17 रु 35,000.00 रु 51,737.97 रु 596,348.14
11 रु 596,348.14 रु 35,000.00 रु 59,978.07 रु 691,326.21
12 रु 691,326.21 रु 35,000.00 रु 69,000.99 रु 795,327.20
13 रु 795,327.20 रु 35,000.00 रु 78,881.08 रु 909,208.29
14 रु 909,208.29 रु 35,000.00 रु 89,699.79 रु 1,033,908.08
15 रु 1,033,908.08 रु 35,000.00 रु 101,546.27 रु 1,170,454.34

 

:

 

Maturity Amount according to LIC, at the end of premium paying term, Sum assured plus Bonus is payable with Final additional bonus if any

Sum Assured is 5,00,000 Rs.

How to Calculate Bonus Amount?

LIC pays anything between 40-45 Rs. for every 1000 Rs. Sum Assured. Taking as 43 Rs. as an average bonus.

If I Paying for a 15 Year Policy and Paying a Premium of say 35,000 (Taking any Average Policy)

Then Invested Amount= 35,000*15= 5,25,000 Rs.

Total accrued simple reversionary bonus = 5,00,000/1000*43*15 = 3,22,500 Rs.

How much Comes out to be Maturity Amount?

An Endowment policy would look like this for a 25 yrs old for a 25 Year Policy

Tenure : 25 yrs
Yearly premium : 35,000
Sum Assured : 5 Lacs Rs.
Maturity amount : 8,22,500 Rs. ( this you get when you survive full tenure , It includes the sum insured + Bonus accrued)

PPF gets one 2,03,850 Rs more than Endowment Policy.

Now a person may argue that he is getting an additional 5 Lac Rs insurance cover with the Policy. Term Insurance cover for a 25 year old person comes around 1200 Rs.

Even, if one subtracts 1200 Rs from 35,000 Rs still one will end up with 9,91,160 Rs

EPF Calculator Results    
Year Opening Balance Your investment Interest Earned Closing Balance
1 रु 0.00 रु 33,800.00 रु 2,704.00 रु 36,504.00
2 रु 36,504.00 रु 33,800.00 रु 5,624.32 रु 75,928.32
3 रु 75,928.32 रु 33,800.00 रु 8,778.27 रु 118,506.59
4 रु 118,506.59 रु 33,800.00 रु 12,184.53 रु 164,491.11
5 रु 164,491.11 रु 33,800.00 रु 15,863.29 रु 214,154.40
6 रु 214,154.40 रु 33,800.00 रु 19,836.35 रु 267,790.75
7 रु 267,790.75 रु 33,800.00 रु 24,127.26 रु 325,718.01
8 रु 325,718.01 रु 33,800.00 रु 28,761.44 रु 388,279.45
9 रु 388,279.45 रु 33,800.00 रु 33,766.36 रु 455,845.81
10 रु 455,845.81 रु 33,800.00 रु 39,171.66 रु 528,817.48
11 रु 528,817.48 रु 33,800.00 रु 45,009.40 रु 607,626.87
12 रु 607,626.87 रु 33,800.00 रु 51,314.15 रु 692,741.02
13 रु 692,741.02 रु 33,800.00 रु 58,123.28 रु 784,664.31
14 रु 784,664.31 रु 33,800.00 रु 65,477.14 रु 883,941.45
15 रु 883,941.45 रु 33,800.00 रु 73,419.32 रु 991,160.77

With this, I conclude that PPF on any given day is much better than having Jeevan Anand. Don’t forget the liquidity option in PPF which one starts getting after 3 years which is not available in the Jeevan Anand & Premium can be deposited according to the requirement as per the need in PPF which is really not possible in Jeevan Anand.

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Rajesh Singla

Rajesh is the founder & CEO of Stockssavvy, Stocks analyst,financial advisor by choice,software engineer by fate,biker,gamer,cricket lover n enthusiastic person. He believes in doing things not just to get by but to get Ahead...

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  • S Ghosh

    I want 20 years calculation of ppf investment Rs 38000 per year and also 20 years lic saral jeevan maturity in same investment.

  • Rajesh

    For Public provident Fund (PPF), The amount will grow to 18,78,071 Rs. Interest Rate – 8 %
    For Employee Provident Fund(EPF), The amount will grow to 22,52,026 Rs. Interest Rate – 9.5 %
    For LIC Jeevan Saral, Savashi tell me your age. I’ll compute the amount & let you know.

  • Rajesh Kumar Rathore

    Sir,
    I had jeevan anand policy for 25 yrs. sum assured 6lacs, My age is 33 yrs (DOB: -12-09-1977) premium amount is Rs-25714/- I want to know, what will be my maturity amount after 25 yrs.

  • Rajesh

    Sum Assured Bonus – 6,00,000 Rs.
    Bonus Amount – 6,75,000 Rs.
    Final Additional Bonus (FAB) – 4,50,000 Rs. This is paid for more than 15 year policy.
    Total Amount – 17,25,000 Rs.

    In addition to this, the Sum assured amount will be given at the death of demise. Have you consider Retire & Enjoy plan from LIC.
    For a 30 year policy, Insurance cover will start from 8,00,000 Rs. roughly & increase with increase in age & will go upto the amount of around 40,00,000 Rs by the policy amount. You will get a pension of around 4,10,000 Rs. for 10 year.Also, the first insurance cover of 8,00,000 Rs will be given at the death of demise. That will give you much better returns & higher insurance cover too.
    Have you started Jeevan anand policy?

  • Rajesh Kumar Rathore

    Thanks for clearing my doubt.
    I have anther lic policy new bima gold (money back) (T -179). sum assured 300000 for 20 yrs (DOB: 13-03-1981). Premium amount Rs-10912/-. LIC agent told me that i will get Rs-40000/- as a money back in every 4 years. and final maturity amount Rs-400000/-. Please tell me your opinion about this policy.

  • Rajesh

    Returns as per age:
    30,000 at end of 4 years
    30,000 at end of 8 years
    30,000 at end of 12 years
    30,000 at end of 16 years
    92,240 at end of 20 years + LA – 2,50,000 – Total Amount at 20 years – 3,42,240 Rs.

    You seems to be the victim of mis-selling
    Total Money invested in 20 years – 2,18,240 Rs.
    Total money back in 20 years – 4,62,240 Rs.
    Returns are really low in money back policy. a simple SIP for 1,000 rs a month would yield a corpus of around 15,16,000 Rs @ 15% rate of interest. I have assumed here lower rate of interest on conservative basis. Sensex have yielded more than 17% since inception in 1991 & Mutual funds have yielded a return more than 25% in these 20 years.
    Apart from the investment point, the insurance cover is really low. The cover is not enough to give support to the nominee today, imagine how could it will help the nominee in 20 years when the price of living will be much higher.
    Money back policy from any insurance company is neither a good investment policy nor insurance policy. We give a big thumb down to this policy.
    How long have you been invested in the policy? We advice you to seriously re-look on your financial planning strategy as both the policies which you have taken are not going to serve you the purpose.
    Please feel free to contact us if case you need help.

  • Rajesh Kumar Rathore

    Thanks Sir,
    What i have to do? i have to continue these policies or surrender them. Suggest me any policy which is suitable in my budget (4.5 L/A ) and tell me about term plan

  • Rajesh

    Rajesh, i can’t suggest just any policy. This is not the way , financial planning is done. For a financial planning, we need to start systematically & save regularly to achieve your financial goals. I will send you financial planning goals sheet exclusive made for stockssavvy readers. Fill that in order to let me know your current financial condition. Feel free to reach out if you have any doubt…
    Meanwhile, i ll check n let u know the surrender value of your these 2 policies. For that i need lil info. How much premiums have been paid by you for Jeevan Anand & new bima gold Policy?

  • SENTHILKUMAR

    Hi Rajesh,

    In your above article, you have not included the 5 lakh rs. which will be given by LIC’s Jeevan Anand policy on death. If we opt for term insurance till our death it will not work to Rs. 5 lakhs.

    Pls comment.

    regards,
    Senthilkumar

  • Rajesh

    Hi Senthil,

    1) 5 Lac Rs. amount is very meager for anybody to have as an insurance cover.
    2) Besides this, this amount will be given to the nominees after the death of the person taking insurance. As we are not sure when it will happen, So didn’t include that in the returns.

    Are you looking to start your financial planning?

  • Manoj_rvce

    It will be very helpful if you can illustrate the jeevan anand example by considering a policy in which Final Additional Bonus is available. The returns work out as good as PPF.

  • Youkay

    Nice article, wealth of information.

  • Anonymous

    Thanks Youkay for encouragement. It really keeps me going.. 🙂

  • vignesh

    Hi
    pls write abt the epf also.

    any tax implication on EPF while redeeming it?

  • Anonymous

    Vignesh, Check http://stockssavvy.com/?p=3848 to know How to check your Employee Provident Fund Account?

  • Vikram

    Hi Rajesh, may i know the formula for calculating the PPF maturity amount. Regards
    Vikram

  • I have made it an excel sheet calculating the interest amount for each year & then adding it to the principal amount.

    I will try to modify the post considering the new rate of interest as 8.6% for PPF.

  • Yourannu143

    I have jeevan anad (20 years with premium 16660 annually ) and jeevan saral (12 years with 1531 monthly premium) can u please tell me the maturity amount of both the policies.

  • Anonymous

    Annu, Please provide your DOB.

  • Yourannu143

    My DOB is 9 Oct 1978

  • Anupam

    Jeevan anad is with me (DOB 9th Oct 1978 and date of commencement Oct 2008 20 years with premium 16660 annually ) and Jeevan saral is with my wife (DOB 13 Nov 1983 Date of commencement jan 2010 12 years with 1531 monthly premium)….please tell me the maturity amount of both the policies.

  • Anonymous

    For Jeevan Anand:
    Sum assured: 3,00,000 Rs.
    Bonus: 2,46,000 Rs.
    FAB: 90,000 Rs.
    Total – 6,36,000 Rs.

    I will soon post the details for Jeevan Saral too.

  • Yourannu143

    Thanks Raj !!! waiting for your reply on jeevan saral..

  • Yourannu143

    Hi Raj,
    I have tried to get the balance of PF online and I got the message that EE balance is 84000 and ER balance is 56000,can u please tell me the total balance in PF a/c?

    Thanks
    Anupam

  • Anonymous

    EE is Empolyee contributon & ER is Employer Contribution. Generally the figures are same set by the employer.

    The figures shown in the SMS/or statement are PF amount (i.e. Employee contribution and 3.67% employer contribution). Out of 12% of employer’s share, 8.67% goes to Pension scheme which is not shown in the PF statement.

    However, if you withdraw the amount before attaining 58 years and not opted for scheme certificate for Pension account, you will be paid full amount (i.e. amount accrued in PF and Pension Accounts as on date of withdrawal including interest).

    You can double the EE amount to know the exact figures of your EPF and Pension Account. This is my understanding.

  • Yourannu143

    hi Raj waiting for reply on jeevan saral

    Thanks
    Anupam

  • Yourannu143

    Hi Raj Please post the details of jeevan saral also

  • Sorry for the delay, Return for your money back policy:
    After 3 years – 20% of your Sum Assured
    After 6 years – 20% of your sum assured
    After 9 years – 20% of your sum assured
    After 12 Years – 40% of your sum assured.
    Though your DAB will increase year by year. In the beginning, you will get a cover of around 3.75 Lac which will increase to 5.73 Lac cover by the end of 12 years.

  • Prabuddhasarkar

    Thank you Rajesh for your informative post. Can you update us about Jeevan Tarang? It seems very attractive, noting that it gives 5.5% of sum assured till the person lives every year,after policy period.

  • Anonymous

    Thanks Prabuddha….

    Jeevan Tarang is a triple enefit policy..I will try to cover in more detail shortly

  • Diya_sainath

    I have jeevan anad (16 years with premium 36096 annually ) can u please tell me the maturity amount of the policies. DOB 20/11/85

  • Profile1235

    Can you approximately tell me what will be the final amount i will be getting at maturity for these two policies.

    1. Jeevan Anand ( with Profits and with Accident Benefits ) – for 16 years
    Sum Assured : 600000 rs
    Premium : 41709 rs
    date of start : 03/08/2011
    date of last payment : 03/08/2026
    DOB : 02/08/1983

    2.Jeevan Anand ( with Profits and with Accident Benefits ) – for 21 years
    Sum Assured : 1500000 rs
    Premium : 74431 rs
    date of start : 18/01/2011
    date of last payment : 20/01/2031
    DOB : 08/03/1985

    I have already got some amount from the Agent, he did give me his first years bonus( i.e, 10000/- for 16 years poilicy and 17000/- for 21 years policy ) as i had got the policies through him.

    I have just paid one years premium for each for these policies yet. Can you let me know if its a good ides to exit exit now after one year. Coz i understand if i exit now i wont receive any money back. what do you suggest?

  • Anonymous

    @Profile,

    1) Approx. Returns at age of 44:
    Sum Assured: 6,00,000 Rs.
    Bonus : 3,93,600 Rs.
    FAB: 36,000 Rs.
    Total: 10,29,600 Rs. for total Investment of 6,67,344 Rs.

    2) Approx. Returns at age of 47:
    Sum Assured: 15,00,000 Rs.
    Bonus : 14,17,500 Rs.
    FAB: 5,85,000 Rs.
    Total: 35,02,500 Rs. for total Investment of 15,63,021 Rs.
    Agent will run behind you to make payment for consecutive years as he has not earn anything in first year commission for the policies.

    Make the policy paid up rather than going for surrendering the policy.

    Check this link to know how to get rid of your high premium packing policy:
    http://stockssavvy.com/editors-column/rid-paying-premium-paying-money-policy/

  • Anonymous

    @Diya,

    Approx. Returns for your jeevan anand policy at age of 42:
    Sum Assured: 5,20,000 Rs.
    Bonus : 3,41,120 Rs.
    FAB: 31,200 Rs.
    Total: 8,92,320 Rs. for total Investment of 5,77,536 Rs.

  • Profile1235

    What are the minimum number of years i need to pay the premiums to make the policy paid up?
    In my case i have just paid one years premium for both the policies, can i make the policies paid up from this year, without paying any more premiums?

  • Anonymous

    @Profile1235

    You can make your policy paid up even after 1 year. You can send a mail to LIC or Check out this link to know more about your Policy value:

    http://stockssavvy.com/editors-column/rid-paying-premium-paying-money-policy/

  • Bhattsamit

    Hi
    can you let me know if PPF is better of Jeevan anand 25 yr term premium 42000 @ pa & Jeevan saral term 15 yrs premium @ 59000 pa

  • Nitin Kumar

    I have a Jeevan Anand Policy with following details :-
    Term – 21 years.
    Premium – Rs. 100990/- per annum.
    What is the maturity amount that I get after 21 years?

    Nitin Kumar

  • Anonymous

    @Bhattsamit

    Sorry, i didn’t get you. Do you want to know the returns on these policies then please share with me when did you started them & your age.

  • Anonymous

    @Nitin,

    Please provide me date of birth for policy holder & date of commencement for the policy..

    Regards,
    Rajesh Singla

  • Thanks Nitin,

    I do get the point. Probably I should pull both mine and my wives Insurance policies from LIC. Probably PPF is the safest option now.

  • Iammanin

    And the option of Whole LIfe Risk Cover of 5 Laks…Usko bhul gaye kya

  • Anonymous

    @Manin

    5 lacs ka cover aaj k time mein alomst 1200 rs ka aata hai… EPF ki calculation mein dusri bar woh consider kiya hai.. calculation is liye 33,800 par hai & not on 35k…

  • Nitin Kumar

    Greetings for the day Raj……..
    D.O.B – 01Feb1981
    Date of commencement of policy – 28Mar2010

    Thanks & Regards

  • sandeep

    I HAVE JIVAN ANAND POLICY
    PERMIUM– 57631
    TERM ——–23YRS
    DOB———–06/06/1981

  • Sandeep

    can u plz tell the maturity value

  • Nihar

    Rajesh- 1 lac premium per year for 25 years in jeevan anand. I am 21 as of now. How about dat??

  • nihar

    Rajesh- 1 lac premium per year for 25 years in jeevan anand. I am 21 as of now. How about dat??

  • Rohit132498

    i have jeevan anand policy for 21 years with premium around 25000 annually .Can you plz tell the maturity amount of this policy

  • Rohit132498

    My DOB is 1989 May

  • Rohit132498

    Plz Reply Rajesh

  • Rohit, i will get you the details soon.

  • rajsingla

    Allright Manoj.. I will try to come with such a post..

  • rajsingla

    @Sandeep, What is the date of commencement of the policy?

  • rajsingla

    @Rohit, What is the date of commencement of the policy?

  • rajsingla

    @Sandeep, What is the date of commencement of the policy and your date of birth? If you want to start a new policy, then date of commencement will be taken as today’s date.

  • @profile1235 You can check http://stockssavvy.com/editors-column/rid-paying-premium-paying-money-policy/ to know the maturity value and surrender value of your policy.

  • Vivek KM

    Hi Rajesh,

    Can you please advise me:

    I am having 2 LIC Jeevan Saral policies in my name and my wife name.

    After reading the forums and other notes on this I am really confused as whether I am investing my money in wrong product of LIC.

    I have a loan of 50L for 20 years which I am paying the EMI from 26-Feb-2013. I got attracted from the table that they presented me, like in 10 years my money was getting doubled.

    Can you please advice what should I do now, continue or change to someother plan. I need to pay my loan so kindly advise something which is beneficial to me.

    My DOB: 02-Jun-1980

    Commencement Date: 24/05/2011

    Policy term: 30 years

    Premium: 60650/- payable Haly Yearly

    Sum Assured: 2500000/-

    Thanks a lot.

  • sbs

    Excellent articIe. I have taken two of these policies through DSOP fund and found the mistake. I have paid three premiums adn instructed the DSOP fund authorities to stop payment of any further premium. Can you please advise me that what should I do now? My email is shiv1655@gmail.com

  • Manikanta

    Hello Rajesh Singla. Good job but LIC is always better than any other in the world. In the above case if you take policy for 16 years term then Final Additional Bonus also included in that, this will raise your maturity amount around 1 lakh to 1.5 lakh. One more is Term Insurance cover for a 25 year old person comes around 1200 Rs, ya its true but as your age increases this amount also increases at the age of 35 this will be around 2200. And another is in jeevan anand it covers life long, can you show me is there any term insurance which will give you the policy for life long.

    Ya your analysis is good. But don’t judge it with out knowing the whole things. And friend if you have any doubts on this I am ready for debate … 🙂

    Thanks,
    Mani

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