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Reliance Nippon Moneyback plan – Investment plan – Suggestion

Last updated: June 25, 2020

Q & A Forum › Category: Insurance › Reliance Nippon Moneyback plan – Investment plan – Suggestion
0 Vote Up Vote Down
Manish asked 7 months ago

Hello Sreekanth,
Can you please review this Reliance Nippon Moneyback plan, also I would like to request, If you can make one excel where we are able to calculate this type money back plant returns.
I did one calculation at my end as below:
The reliance team is offering return sum of Rs. 25,04,740 /- (between 11th to 15th year) with a  investment of Rs. 1,05,000 / annum for 10 years. The calculation is as follows:
Rs. 1,05,000/year (Including GST) x 10 yrs  = 16,33,830 (9.5% annual compound interest)
From 11th year to 14th year return receives = Rs. 1,36,623 /- year
On 15th year return would be Rs. 10,47,000 /-  + Final base sum Rs. 9,10,000 /- on 16th year 1st month.  It comes as 10% ROI, they are earning on balance amount each year i.e., 16,33,830 – 1,36,623 = 14,97,208 (Balance on 11th year)
Can you please review if this calculation is right or wrong ? I am considering this as investment plan only although they are offering Insurance along with it. Insurance is not my aim but firm moneyback.

Thanks,
Manish

Question Tags: Guaranteed Moneyback plan
1 Answers
0 Vote Up Vote Down
Sreekanth Staff answered 7 months ago

Dear Manish,
May I know if you have adequate life cover?
These kind of money-back plans can give returns of around 4 to 5%.
You may kindly go through below articles :

  • Life Insurance Money back Plan Return Calculation | Do-it-yourself guide!
  • Life Insurance Endowment Plan Return Calculation | Do-it-yourself guide!
  • Traditional Life Insurance Plan – A terrible Investment option?

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