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Recently answer queries on Endowment Plans

I have taken LIC Jeevan Anand in 2008-Dec, LIC Endowment plan in Nov 2011, and Kotak Assured Income plan in Oct 2012. I am paying Rs 2600 (LIC ANAND), Rs 2600 (LIC Endowment), and Rs 2088 (Kotak) every month.. Now I want surrender all these policies to increase my monthly surplus taking one...

It is definitely not a good idea to surrender the plans as you would hardly be able to even recover the money already paid. Hence it makes complete sense to continue the plans as they are excellent plans and they would help you to build your savings corpus and take an additional online term plan if... Read More>>

Asked By: Harish
On: 8th May 2013
Answered Within: 22 Hours

I have LIC Endowment policy, taken one and half year back. Now I want to surrender it. Please suggest me

It doesnt make sense to discontinue an Endowment Plan after 2 years. You would hardly get back anything. To know the exact surrender value, you need to contact the Insurance Company.

However, you can reduce the premium for the plan and continue with reduced coverage.

Asked By: Harish
On: 7th May 2013
Answered Within: 22 Hours

sir please help me and guide me.i have aviva i- life term plan of 50 lacks and premium is 6080 per year.i have also a max life gain plus policy in which i was trapped as i feel it now by paying 50000 rupees as premium for sa of 5 lac to be paid for 5 more years and maturity is very low after 25...

Max Life Life Gain is a guaranteed returns plan and hence the returns will be moderate or low. If you have better options to invest then you can exit this immediately.

Asked By: pawan kumar
On: 15th Apr 2013
Answered Within: 1 Days

Hello, My Age is now 21 yrs. I want to take a LIC policy for myself. I will pay max. rs 36,000 Yearly or 3 thousand monthly. Please Help me in Selecting Best Plan for Myself. I will take all the money after maturity only. I want the policy of 15years max. Which Plan Should I take for maximum...

If you are looking for a LIC Endowment Plan, Jeevan Saral is a good option. It is one of the best plans of LIC where the premium amount is decided by the policyholder and he gets 250 times the monthly premium as Sum Assured. If the Life Insured survives the entire term, then he would receive... Read More>>

Asked By: SUBHAM
On: 8th Apr 2013
Answered Within: 3 Days

i am air force sergeant and apart from air force group insurance of 5 lac i have max life gain plus policy for 5 lack and aviva ilife term plan for 50 lack.should i discontinue any of the plan as i feel premium for max life gain is too high and that is 50000 per year.

Max Life Gain is an expensive plan because it is an Endowment Plan where you have Maturity Benefit of Sum Assured + Guaranteed Addition of 10% of the Sum Assured + Bonus (if any). Thus, Max New York Life Gain Endowment Plan is a simple Endowment Plan Traditional Plan with Bonus Facility.

So, its best... Read More>>

Asked By: pawan kumar
On: 30th Mar 2013
Answered Within: 2 Days

Hi, Is SBI life flexi smart a good plan to invest. I am planning to invest RS 15000/- each year for 10 years. My age is 40 yrs. regards,

SBI Life Flexi

Asked By: surya
On: 18th Mar 2013
Answered Within: 4 Hours

Hello sir,looking 4 a endowment/whole life insurance plan 4 15 yrs.premium uptol 50000 annually which gives maximum benefits at Time of maturity

Whole life plans are losing their presence because of long tenure involved in returning the money. Plus the returns are also very basic. For endowment plans you can look at -

HDFC Life Sampoorn Samridhi

Asked By: ketan
On: 18th Mar 2013
Answered Within: 3 Days

I want advice on life insurance that provide money back on completion of policy.

You can visit the two pages listed below and enter your details. On doing this, you will get a list of policies which will meet your savings needs.

http://www.myinsuranceclub.com/life-insurance/money-back-policy

Asked By: Pankaj
On: 18th Mar 2013
Answered Within: 4 Days

How is HDFC Sampooran Smridhi for retirement?

Hi,

HDFC Sampoorn Samridhi Plan is a simple traditional plan which has 2 unique options of Enhanced Cash and Enhanced Life Cover. It is a good whole life cum endowment plan. But it would not suffice for retirement purpose because the payout happens only when the Life Insured dies and not during his... Read More>>

Asked By: Sushil Kaundal
On: 11th Mar 2013
Answered Within: 20 Hours

thank you sir for advice on max life gain plus policy.but again help me out-(1).i have aviva ilife term plan for 5000000 apart from max life gain policy and air for group insurance of 5 lac.(2).i have three children aged 10,8,4 yrs plus wife and i am to retire with those mentioned...

This is too short a period for me to suggest any investment plan for you. Please understand that this is a portal for Insurance Advice and not Investment Portfolio. So, if you are looking for advice on pure investment products like Mutual Funds, etc. then you would have to consult specialists. You... Read More>>

Asked By: pawan kumar
On: 5th Mar 2013
Answered Within: 1 Hour

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