Dear Sir,
In the term insurance plan, there is no maturity value at the time of survival end of the policy term. Only life cover during the term period.
But in New Jeevan Anand, there is maturity amount at the end of the policy period + Basic sum assured will be paid at the event of death, even after the maturity period (Till 100 years of age).
thats the reason i wish to go for Jeevan Anand (along with term plan bought) after your kind advice.
Thanks & regards.
1 Answers
Hi,
In one of your previous queries, you have shared that you own a Term plan.
So, if term insurance does not give any returns or maturity amount, may I know the reason for buying it?
A traditional plan like Jeevan Anand may give returns, but will you be happy with returns of around 5 to 6% in long-term? Why would you like to ignore other better investment alternatives?
Even long-term savings in PPF (Public Provident Fund) can give better tax-efficient returns than these kind of traditional plans.
Suggest you to kindly go through all the below articles;
http://www.relakhs.com/term-insurance-plan-a-waste-of-money/
http://www.relakhs.com/traditional-life-insurance-plan/
http://www.relakhs.com/real-rate-of-return-inflation-adjusted/
http://www.relakhs.com/list-of-best-investment-options-schemes-in-india/
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