Hi,
I have a few questions regarding New Jeevan Shri T. No. 151policy that I had signed up for in 2003.
I signed up for a term of 15 years (premium to be paid only for 16 years) with premuim of Rs.37,015 annually. I did some research and wanted to know what would the payout be after 25 years. I have a table - http://spreadsheets.google.com/ccc?key=0AthTbw5SARNzdFBwWXpYWDVXS0R1ejlScGpTRTBEZUE&hl=en
I did by referring to the Bonus payout info that LIC has at http://www.licindia.com/bonus_info.htm
My questions are -
They greyed out columns are future years (assuming same bonus)
I am new to this so just trying to understand my current status
I have a few questions regarding New Jeevan Shri T. No. 151policy that I had signed up for in 2003.
I signed up for a term of 15 years (premium to be paid only for 16 years) with premuim of Rs.37,015 annually. I did some research and wanted to know what would the payout be after 25 years. I have a table - http://spreadsheets.google.com/ccc?key=0AthTbw5SARNzdFBwWXpYWDVXS0R1ejlScGpTRTBEZUE&hl=en
I did by referring to the Bonus payout info that LIC has at http://www.licindia.com/bonus_info.htm
My questions are -
- Mine is called an endowment plan right? What category does my plan fall into?
- Is my table correct? Am I calculating correctly?
- I read from somewhere (this site) there is an 8% interest. Is this true? Or is this column not needed?
- I don't see New Jeevan Shree anywhere. Why is this? Is this different from Jeevan Shree-1?
- How do I incorporate the Loyalty Addition? What is it?
- Doesn't LIC have a tool/table like this for it's customers to calculate this?
They greyed out columns are future years (assuming same bonus)
I am new to this so just trying to understand my current status