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Thread: Urgent: Required expert analysis of HDFC Life Super Income Plan, regarding Return of investment

  1. #1
    NewBie
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    Default Urgent: Required expert analysis of HDFC Life Super Income Plan, regarding Return of investment

    Hi
    I have been suggested to invest in HDFC Life Super Income Plan by a friendly agent (who is our family friend ). As per his explanation, The plan is for 16 years. I need to pay premium of Rs.72,200 for first 8 years. From 9-15 years, I will get payout of Rs.50,000 every year and at the end of maturity (16th year) I might get a lump sum of amount with bonuses, totaling around Rs.15 Lakhs. I seriously doubt the agent’s illustration, as I gone through product brochure it clearly stats final maturity amount is my last payout+bonuses, which is too less and in total I will get only around 7.5 Lakhs (with rough assumptions of bonus rates.)

    I need some expert advise with illustration on choosing this policy, if i can go ahead with this or not. The agent is behind me to push me into this I really don’t want to waste my investment amount , for 16 years with low return of investment. Kindly advise.



  2. #2
    NewBie
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    Default

    Just need an illustrative calculation, if some one can help

  3. #3
    PW Stalwart Manish_Kumar's Avatar
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    Apr 2009
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    Patna
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    Default

    This is a low return plan, better invest in mutual fund not in an insurance plan and also buy term plan for insurance coverage.

    Below screen grab explain all -

    Name:  HDFC-Life.JPG
Views: 2274
Size:  62.2 KB

    Source - HDFC Life
    Everyone has a scheme of getting rich.. Which never works.

  4. #4
    Moderator Rahul's Avatar
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    Feb 2009
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    Delhi
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    386

    Exclamation

    1- What is your age?
    2- What is the sum insured?
    3- Could you please also post the illustration (which is mandatory by IRDA) provided by your agent?
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