Hi Sir,
I am planning to invest Rs.30000(Approx.) annually, initially I was planning to invest in PPF but I received a call from PNB metlife regarding PNB metlife endowment saving plus plan in which I need to pay Rs.36000 for 10 years annually and I will get maturity value of Rs.9.21 lakhs which is higher than PPF is this true?
Please clear this confusion.......
1 Answers
Hi,
Kindly note that returns are calculated based on certain assumptions (illustrations) in case of PNB metlife endowment saving plus plan..These kind of traditional endowment plans can at best give maturity returns of around 4 to 5%. Also, the returns are highly dependent on bonuses declared by the insurer..
You may kindly go ahead with PPF (if you are looking for long term savings, guarenteed / safe returns and tax efficient option..).
Suggested readings :
https://www.relakhs.com/traditional-life-insurance-plan/
https://www.relakhs.com/term-insurance-plan-a-waste-of-money/
https://www.relakhs.com/tax-treatment-taxation-rules-investments-eee-eet/
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