Any LIC policy which can pay 3-5 cr after 15-20 years

[chandann]

I would like to know if there is any such LIC policy which can give 3-5 crores after 15-20 Years from now. My age is 39 now and my salary is 35k in hand and I am single unmarried and not interested in marriage and all. So I want to know if there is any such policy available or anything close to that. Experts and ppl who already have it plz provide your suggestions or comment

 

[timepass]

Check policybazaar.com or some LIC agent. I think you can also post it on their website.

 

[plyfz]

Lic endowment plans for high returns but i prefer to put money in sbi fixed deposit each month

 

[timepass]

Lic endowment plans for high returns but i prefer to put money in sbi fixed deposit each month

FD for 1 year ??

Also, why ??

 

[Smart_trade]

I would like to know if there is any such LIC policy which can give 3-5 crores after 15-20 Years from now. My age is 39 now and my salary is 35k in hand and I am single unmarried and not interested in marriage and all. So I want to know if there is any such policy available or anything close to that. Experts and ppl who already have it plz provide your suggestions or comment

1) Firstly buy a good mediclaim policy which you should continue in your retirement years.This will take care of some sudden medical expences which may come up.
2) You have to invest minimum Rs 15,000 per month in SIP and step up your investments by 5 % every year in a diversified large cap/Multicap or index mutual fund which should give you 11-12 % CAGR.....so in 20 years more you will accumalate total funds of 1.75 Cr - 2 Cr. Any insurance investment is unlikely to give you this return.
3) Time is running out..start as early as possible...

Best wishes for your happy retirement planning and execution of the plan....

Smart_trade

 

[prabhsingh]

1) Firstly buy a good mediclaim policy which you should continue in your retirement years.This will take care of some sudden medical expences which may come up.
2) You have to invest minimum Rs 15,000 per month in SIP and step up your investments by 5 % every year in a diversified large cap/Multicap or index mutual fund which should give you 11-12 % CAGR.....so in 20 years more you will accumalate total funds of 1.75 Cr - 2 Cr. Any insurance investment is unlikely to give you this return.
3) Time is running out..start as early as possible...

Best wishes for your happy retirement planning and execution of the plan....

Smart_trade

I would like to take policy for my daughter which can give me good returns say in 12-15 years which then can be utilized for her higher education or marriage.Earlier i took HDFC SL Young Star Super Premium but it has given very poor returns in last 4 years and now planning to switch towards LIC because came to know from relatives that LIC is much safer and has given good returns.I need much safer policy and at same time returns which need to above what BankFD gives.So kindly can you suggest which policy should i go for my daughter.Her age right now is 7 years.

 

[i_xion]

I would like to take policy for my daughter which can give me good returns say in 12-15 years which then can be utilized for her higher education or marriage.Earlier i took HDFC SL Young Star Super Premium but it has given very poor returns in last 4 years and now planning to switch towards LIC because came to know from relatives that LIC is much safer and has given good returns.I need much safer policy and at same time returns which need to above what BankFD gives.So kindly can you suggest which policy should i go for my daughter.Her age right now is 7 years.

If you want higher returns than FD/RD then best thing is go for mutual fund SIP in daughters name (do SIP is large cap funds to reduce risk). Insurance plans will never give good returns unless you invest in ULIP (which will always be outperformed by mutual fund due to its structure).
Try to keep your insurance and investment separate.

 

[sanju005ind]

Most people are unable to distinguish between risk cover and investment product. If the goal is to cover risk then buy insurance. If the goal is to grow your money then invest in MF, Stocks. If you buy insurance for investment goal then you endup achieving neither proper risk coverage nor investment growth.

 

[chandann]

1) Firstly buy a good mediclaim policy which you should continue in your retirement years.This will take care of some sudden medical expences which may come up.
2) You have to invest minimum Rs 15,000 per month in SIP and step up your investments by 5 % every year in a diversified large cap/Multicap or index mutual fund which should give you 11-12 % CAGR.....so in 20 years more you will accumalate total funds of 1.75 Cr - 2 Cr. Any insurance investment is unlikely to give you this return.
3) Time is running out..start as early as possible...

Best wishes for your happy retirement planning and execution of the plan....

Smart_trade

1. So if you were in my place which mediclaim policy would you had gone for?
2. According to you which large cap/Multicap or index mutual fund would perform better and 11-12 % CAGR or approximately close to that

 

[chandann]

Most people are unable to distinguish between risk cover and investment product. If the goal is to cover risk then buy insurance. If the goal is to grow your money then invest in MF, Stocks. If you buy insurance for investment goal then you endup achieving neither proper risk coverage nor investment growth.

absolutely correct