Do you remember seeing above image a few years back which looked very promising and made you re think your investment in LIC? Well, LIC is very well know for its low return on investment and above Jeevan saral plan sheet is not showing detailed information of sum assured. Let’s consider Rs 1500 investment monthly for 20 years has sum assured of Rs 12,02,220 as per plan sheet but there is a catch; The policy benefit(Death Sum Assured) amount is only Rs 3,75,000 and Maturity Sum Assured is Rs 4,21,590.
Today We will calculate and see how LIC JEEVAN SARAL (PLAN NO: 165) Returns are equivalent to saving bank account that is around 4-6% interest on invested amount. Below is the details of my LIC Jeevan saral policy details. The premium paid is Rs 1500 monthly. Now I will illustrate the calculation to show that LIC JEEVAN SARAL (PLAN NO: 165) Returns are around 4-6% annually.
Here, I am using this to calculate LIC JEEVAN SARAL (PLAN NO: 165) total maturity amount. Please note the annual returns calculator uses following calculation, Compounding interest with base amount as zero and monthly deposit of Rs 1500 and compounded yearly.
Rs 1500 monthly – Returns calculator.
|Term (years)||Total Investment||Maturity Sum Assured||Total Loyalty Addition||Total Maturity||Annual returns %|
Loyalty bonus declared by LIC.(Already added to maturity amount in above table)
|Term (Duration)||Yearly Premium Bands|
|Up to 5000||5001 to 20000||20001 to 50000||Above 50000|
Low returns from LIC is nothing new to its customers. Also read LIC Wealth Plus (Plan-801) cheated investors.