A few months back when I wrote about “LIC Bonus rates for 2012-13 and comparison“, I flooded with lots of queries about doubts to calculate return on LIC policies. So thought to sum up all those issues and write an article on that.
I recently wrote a post which is exhaustive than this one and hope will be helpful for you to calculate returns on your LIC policies. Please check the below link for the same.
Also, watch the video I created for the same.
In LIC there are basically two type of plans either With Profit Plans or Without Profit Plans. First we will look at what do you mean by without profit plans. In such plans there will be no bonus, LA or GA payable to you and on the date of maturity, only the sum assured will be paid.
Rest of all policies come under with profit plans. Examples of the few are Endowment Plan (Table-14), Money Back Plans, Jeevan Anand, Jeevan Saral, Jeevan Ankur or Komal Jeevan.
In with profit policies you get returns based on the declaration of bonus, loyalty addition or final additional bonus of LIC. So first let us understand each component of these in detail.
1) Bonus-Bonus is the return what LIC include into your policy account on yearly base. LIC usually declares bonus rate for all policies on yearly base. Note the point that, even though it is accumulated on yearly base but you get this return only either on maturity or on death claims. Hence don’t be happy now itself that you got high bonus. Will make you familiar with bonus calculation from below example.
Suppose Mr.X take Jeevan Anand policy at the age of 30 yrs. The term of the Plan is 25 yrs and the Sum Assured opted is Rs.10,00,000. So from start to maturity period he is entitled to the bonus which LIC declares. It will get paid on maturity. If something happens to him during the period of the policy term then his nominee will receive Sum Assured+Accumulated bonus till that period. Calculation of bonus is as below.
Suppose if LIC declares bonus as Rs.40 for particular year then what it mean? It means that for Sum Assured of Rs.1,000 LIC will pay you Rs.40 as bonus for that particular year. Hence in the above example Mr.X opted Rs.10,00,000 as Sum Assured, so he will get a bonus as Rs.40,000 {(Rs.10,00,000*Rs.40)/Rs.1,000}. Now the interesting point here is, as I said above this will be included in your policy account for that particular year but will not be paid to you. The same way they calculate for each year bonus and will pay you either on maturity or on death.
Below is the list of policies which are entitled to receive bonus.
1) Whole Life Plans, 2) Endowment Plans, 3) Jeevan Mitra double and triple cover, 4) Jeevan Saathi, 5) Marriage Endowment Plans, 6) Jeevan Chhaya, 7) Jeevan Shree-1, 8) Jeevan Anurag, 9) Money Back plans etc.
2) Guaranteed Addition (GA)-In few plans bonuses is guaranteed where LIC obliged to pay a fixed amount of bonus till the agreed period. It is usually called as Guaranteed Addition. Few of such plans are Komal Jeevan and Jeevan Shree-1.
3) Loyalty Addition (LA)-This is one time payment which will be given to you only after completion of certain period (either maturity or death). As the name suggests, this is given to you by being loyal to LIC. So if for any particular plan LIC declares LA as Rs.250 for those all policies who completed 25 years then the calculation will be as below.
We again take Mr.X’s example, in his case he will be entitled to receive Rs.2,50,000 {(Rs.10,00,000*Rs.250)/Rs.1,000}. In all policies usually LA will be for each Rs.1,000 Sum Assured. But exception to this is Jeevan Saral, where LA will be on each Rs.1,000 Maturity Sum Assured.
This Maturity Sum Assured is differ from Sum Assured for Jeevan Saral. This Maturity Sum Assured is calculated based the age, term and premium.
4) Final Additional Bonus (FAB)–This is same as Loyalty Addition. Usually paid to policies whose term is more than 15 years. The calculation of this FAB is same as that of LA. This is calculated for each Rs.1,000 Sum Assured (Jeevan Saral not have FAB). Policies which have long term will usually have higher FAB.
These above four are the components which constitutes your return on LIC policy. But do remember that each policy has its own feature. Hence never believe that your policy has all the above return features. But almost all policies have either bonus or GA. LA and FAB depends on policy feature. Hope this above explanation made easy in calculating
sir I have been hear as lic agent since 2010, i know returns are very less in lic as compared to fd and other things, but i want to stay in field for that which policy i can promote to my clients
Dear Prahlad,
Term Life Insurance of LIC.
Hi Basu.
My Sum assured premium(Total Insurance policy for Jeevan Anand ) is 5 lakhs but i am paying 5.6 lakhs in total ( 16 years * 35683) .
Why i am paying 60k extra overall. Can it be adjusted at the end.
Please suggest.
Naveen
Dear Naveen,
It is the cost of investment to generate that final amount of Sum Assured + Bonus.
Jeevan tarang table no 178 with profits taken in 2006
15YRS
YEARLY PREMIUM 20917
Can u pls tell me if I don’t opt for the pension scheme and would like to surrender the policy what amount I will b getting as total settlement
Thank you
Dear Nisha,
Better you approach the nearest LIC branch for the values.
Inprove your tone of response bro. You have open this site to help others your tone is reflecting you re doing a favour. Its no favour to anyone, you’re getting money from the site and you’re doing favour for yourself.
I agree you’re advising people but watch your tone.
Dear Nilesh,
I am always respectful for others. However, people with some own beliefs thought that I am a representative of certain companies to earn something from them. Hence, such a strong TONE is obviously necessary 🙂
Amount 50000
Table no 014
Term 16 year
Plz sir tell complete amount received on policy complete
Dear Amit,
Use above post or approach the nearest LIC branch.
Thank you so much for this! Was breaking my head to understand the returns on LIC.
Dear Vachana,
My pleasure 🙂
How is the Vested Bonus calculated for Money Back Policies ? May I know how much I get for vested bonus ?
Sum Assured – 5 Lakhs
Payment period – 12 years
Maturity years – 15 years
Dear Eshwar,
Same like how I have mentioned above.
Hi. When using LIC premium calculator for Jeevan Umang (T 945) (Age 25 years PPT 30 years) , in the illustration document, I see 0 Rs for the column “Reversionary Bonus @ 4 percent” . I do not understand how it can be 0 Rs ?
forgot to mention few things. Sum assured = 10 lakhs. and column “Reversionary Bonus @ 8 percent” shows Rs 43000 per year
Dear Raj,
8% BONUS? Which LIC policy offers you such high bonus?
Dear Raj,
I am not sure. But the illustration is not reality. Hence, do your own homework before buying.
Sir . Can u help me in understanding my jeevandhara old policy of LIC . The policy start date is 28/06/2000 . Name is jeevandhara Table 096 term 22/21 . My 1st premium paid date is june2000 .last premium paid to lic was in june 2019. Lic suo-moto stoped accepting my premium in 2020 saying all premiums are paid & deferment is of 2 yrs . The original policy document says last premium to be paid is june 2021 . Annuity will start from July 2022 . I requested lic to look into the matter . Now they are saying i hv to pay total 21 nos premiums so they are now ready to accept premium of june 2020 but they say annuity will start only in july 2022 . As per policy deferment is only 1 year . So if my last premium is on 2020 then my deferment shd end after 1 year in 2021 . My annuity shd start in july 2021 & not july 2022. Can u help me understand. My agent is not replying to any querry
Dear Shailesh,
Better you visit the home branch and resolve the issue by interacting with the BRANCH MANAGER.
Hello I am stuck on investing , so need your help here please let’s say I invest or pay a premium of 120000 yearly for 10 years and whatnwould be the best option or insurance that I should go for if I am looking for a term plan of 20 years . Example i just looked at a wealth insurance plan where I pay premium of 120k annually for 10 years and after 18 years I get close 24.5 lakhs is this really worth or how do I know if this is the best plan ?
Dear Naveen,
NEVER COMBINE INSURANCE WITH INVESTMENT. However, if you still feel 5% returns for your long term investment is worth, then go ahead.
How to calculate the rate of interest for the investment?
e.g, if I am paying 20000 Rs per year to one LIC policy and after 20 years I am getting 400000 Rs. Then How will I know, what is the return interest I received?
Dear Anupam,
Refer this post “Video tutor-How to calculate LIC policies maturity amount and returns?“.
Thank you very much Mr. Basavaraj!
I struggled a lot to understand how the IRR function in excel is working. But your example in the attachment made everything clear.
Thanks again.
Hi,
Does anyone have any idea how long LIC takes to return one’s money after policy surrender? I surrendered a policy around 5 days ago – and have received the SMS confirmations of NEFT etc being “registered” in their system. However I did not get the amount in my account as yet – and while I did call their customer service I have a feeling they are “reading from a script” in this regard.
Just wondering if anyone knows what a timeframe is! It really shouldn’t take more than a day or two given everything is online now, but that may not be how it works …
Dear Rahul,
It hardly takes around 4-5 days. Better to contact your branch in this regard immediately.
Their branch is far away from where I’m at – but yes, a second trip there might be in order … I’ve been emailing them about it but they never replied.
I did get the “NEFT” registered – and “Exit interveiw” completed messages on my phone, but nothing as yet, and today is the 5th working day.
Customer service keeps giving me the “7-10 working days” spiel, but that’s obviously inaccurate.
I suppose the only way is to go there and ask them in person?? Annoying, but if it has to be done …
Dear Rahul,
Why not call to the regional EPFO?
Hi Basavaraj
Thanks for responding! What I did was register a complaint at the “divisional” level instead of the branch level this time (since emails to the branch were going unanswered).
I also managed to get a hold to the person concerned at the branch who claimed that “it’s been done today”. That was over 3 hours ago though, and I still haven’t recieved the funds in my account, so I’m not sure if what he told me was accurate or not.
They do “know” me apparently from the complaints I’ve raised – so I’m hoping it’ll be done by tonight (still a few hours to go). Else I’ll have to follow up again soon …
Let’s see. If anything, this sort of customer service has only further served to solidify my belief that surrendering the policy was the right thing to do !
Best,
Rahul
Finally all done .. thanks for your help, Basavaraj!
Dear Rahul,
Great to know this.
Nice, how did you take Rs:50 as bonus and fab Rs:100, is it fixed.
and in new jeevan anand is it medicals required for accidental death benfit.
Dear Madhusudhan,
It is not fixed (both Bonus and FAB). However, for calculation purpose, I took the average of past. Medical examination requirement depends on sum assured you opted, your age and other factors. Hence, better to be in touch with the branch.
i am paying premium of INR 16333 per months since May2009 for 20 years , 40 lacs assurance.
Can you let me know how much will i get in return if ..
1. I surrender policy it in June’19
2. I wait until the policy is matured i.e 2029 how much can i get as my returns ?
Srikanth-Refer my post “Video tutor-How to calculate LIC policies maturity amount and returns?“.
Sir, i had taken endowment assurance policy with profits+acc benefit in feb 2002 , details are:
sum assured- 50,000
table and term- 14-16(16)
premium- 3241 /yearly for 16 years
age that time-38 years now 54 years
now policy is mature and i get approx 87k. I want to know how is this maturity amount calculated as i was accepting more amount
Naresh-Follow above post and if you still have doubts, then approach LIC branch for the same.
Hi. Thanks for the wonderful explanation. I have a few LIC policies but don’t know the name of the plans. I do have the policy bonds but can’t find the name anywhere on them. Can you please guide a to how to know the plan from a policy bond? Thanks.
Gagan-Please visit the nearest LIC Branch. Hard to say blindly.
Hi my name is aniket I had a policy with one time premium I took the policy on Jan 2009 and maturity is after 10 year so now it’s almost 9 years but today due to some family issue I need to claim the policy so what amount will I get?
Aniket-Hard to say BLINDLY. Knock the LIC branch.
Hi Sir,
I have endowment policy in Kotak, and the i m paying a Premium of 20000 for 10 years and the term period is 20 years (sum assured 240000), I have paid 5 premiums (Rs.100000) as of now. if i surrender my policy now how much amount will i get for my 100000??.
looking forward your reply.
Thanks and regards,
Basavaraju
Basavaraju-Hard to say and hence better to be in touch with Insurance company.
Thanks for sharing info.
Never thought the return calculation can be understood easily.
Dhananjay-Pleasure 🙂
Have been regularly following your articles and they are of immense benefit.. thanks a ton.
Please guide me whether I shall have to pay any tax on the maturity payout for LIC endowment plan 817.
Premium is around 2.5 lakh..sum assured is 5lakh..after 21 years, the agent is claiming a return of around 10 lakh tax free..is it really going to be tax free? Did read a few articles and got confused as in this case, sum assured is not ten times the premium ..please guide
Madhav-Don’t worry, it is tax-free.
thanks for a prompt reply.
glad to know it is tax free…
keep up the good work
stay blessed
My policy expires in the year 2021 and I have paid premium for 7 years…..I am not in a state to pay premium now…Should I be getting anything towards maturity
Shaifali-First thing, don’t share your personal details like policy number and all on such public platform (I deleted that detail). Regarding your doubt, Yes, now you are eligible either to surrender and close the policy now and opt for paid up.
Dear sir i have a New Bima gold Policy from28/8/11
My Yearly premium is 17648
My Term is 20 Years
So What Amount I will Get At Matuarity Please Help me
Yogesh-Considering the current bonus rate and following the above post, you can easily do it on your own.
I had purchased a jeevan anand(149) policy in Dec 2013 for Rs. 10,00,000/- for 20 years. Since then i am paying an yearly premium of Rs. 50782/-. How much amount I will get on maturity in the year 2033 & what are the other benefits of this policy?
Mani-Refer above post properly.
Which post?
Mani-The above one.
Dear Sir, 22 September 2017
I began an LIC policy in 2003 for a period of 15 years.
The policy details are as below:
Jeevan Asha II (Plan 131-15)
Premium: 4689/- twice yearly (May and November)
Maturity period: 15 years.
The date of last payment is 28 May 2018, and I have paid all premiums except the remaining two (Nov 2017 and May 2018).
First my LIC agent said that I could get a loan on my policy, chargeable at 9.5%.
Then two days after I applied, he said that the loan could not be given because LIC paid us an Interest of 10.5%.
So I asked him to surrender my policy (for which I have paid all premiums except the last two: Nov 2017 and May 2018).
The LIC agent said that the surrender would be processed within a week, but as of today 10 working days have passed and there is no news.
Today (22 September 2017) I again asked the agent when the processing would be complete, and now he says it will be done by Navratri (30 September 2017).
Should I be worried or is this normal?
Thank you for your input.
Ravindra K. Banthia
Bikaner, Rajasthan.
B. Tech. Mech. Engr. IIT Kgp. (1980)
Ravindra-Instead of relying on agent, why not directly visit the branch and get the facts?
I did go to the local LIC office. The problem turned out to be in their software (that had been developed internally).
Till August 2017, manualyl calculating and closing were allowed. From September onwards, everything must go through their software (which has probably had a problem from day 1).
The problem has been escalated to the highest levels, and a solution has to come, sooner or later.
Ravindra-It is their problem for that why you have to bear the delay?
I have another following plan
plan name: Jeevan anand -149
Term : 20 years
Commencement year -05/02/2011
maturity date :05/02/2087
Sum assured :5,00,000
Policy amount –6850/quarterly
Now my question is when will i get amount with bonus? and how much?
suppose If i will after maturity period,shall i change my maturity period?
Selva-Yes, this policy offers you the bonus. You can’t change the maturity period.
sir,
i have the following plan
1.Endowment plus -802
premium – 5000 -quarterly(20000-yearly)
sum assured -220000
term-10 years
Commencement year -05/02/2011
I had paid 2 premiums only upto 08/2011.
after that i haven’t paid.Now policy status says,it is surrendered.
When will i get my amount & how much?
Selva-It is in lapsed condition. Contact LIC branch for surrender values.
Sir I bought a bima gold policy in 2005 of SA Rs 200000.maturity is in September2017 I received the 4th and 8 yrs money back 15% each.What will be my maturity value if you kindly give an idea pl.
Saha-Please use above post and calculate else visit your LIC branch and get the idea.
Sir,
I have Jeevan Suraksha (Endownment Policy) table 17-17 taken on 15/4/2001 – Premium of Rs.10,091/- per year which is maturing on 15/04/2018. Can you please tell me what will be the maturity amount how much pension I will get monthly and should I take commutation? If so how much money I will get and after that how much pension I will get monthly? Also after my life time, my wife will continue to get the pension or she will get the sum assured? If so what will be sum assured?
Thanks and regards
H. R. Krishnan
Krishnan-Visit the concerned LIC branch for the exact values of all your doubts.
Hi
I bought LIC moneyback 75-20 policy on 15th May 2012, as per T&C I should be getting 20% of SA in 05th , 10th & 15th year
pls advise by when i should have got the 20% of SA as 5 years are over
thanks
Preeti
Preeti-After the completion of 5th year i.e 15th May 2017.
but it is already passed….should I contact LIC customer care?
Preeti-I think you might be missed their letter or you might not have updated your Bank details with LIC. Now, they do not issue cheque but transfer fund directly to your bank. Hence, better you visit cocnerned LIC branch and update your bank details.
thank you so much for advise
I have a pension plan table/plan : 147/21-21
Yealy I am paying Rs.10,000/-
date of commencement : 15/02/2003
date of maturity : 15/02/2024
date of last payment:15/02/2023
can you please let me know, after maturity what will I get and what would be the monthly pension that I will receive?
Thanks
Sharmila
Sharmila-It is a typical endowment type retirement plan. You can expect around 5% to 6% returns.
Thank you so much for your fast response and valuable time spending for others.
So would it be 5%/6% of 10,000 ?
Plan :- komal jeevan
Commencement Date 28/05/2008
Sum Assured (Rs.) 100000
please how much amount got at commlition
Anoop-Reach the nearest LIC branch for the same.
Hello Sharmila,
Did you find answer to your query?
I have a 901(Health Plus plan) completed 8 years and now I want to surrender it. Is it possible or not?
Jyotirmoy-Yes, you can.
FIRST OF ALL THANKS A LOT FOR QUICK REPLY.
MY HEALTHPLUS POLICY’s DATE OF COMMENCEMENT WAS :20/03/2008.
PREMIUM PAID UP TO 2015 i.e. @ Rs.10,000.00 pa X 8 NOS.
HOW MUCH I WILL GET IF I SURRENDER THE SAME AS ON DATE.
Jyotirmoy-That you have to check with LIC branch.
Hi i started my policy on 20/03/2013 in plan 179(Lic New Bima gold money back).It staes that at 4th and 8 th year end i will got survival benefit.My question is at what date and month i will get the money credited to bank account(already registered my bank account with them)?
Jones-It is after completion of 4th year and 8th year.
Thanks for your reply.But i need by which date and month it will be credited after completion of four years ??I commenced on this policy on 20-03-2013
Jones-Immediately on the first day of 5th year commencement.
Thank you
for your valuable response
Hello sir,
I took new Jana raksha policy in 2003 and sum assured is 500000(5 lac) and yearly premium is 24800 , total premium should be paid 20 years .
I paid premium for 12 years and on 13th year the policy was surrendered buy third party as lic bond was submitted for security purpose by some one X person (very close to me) without my knowledge . now i want recover the amount from X person , Can you please tell me what was actually surrender value
Vasu-Check with the branch.
Hi,
My mother applied for the LIC JEEVAN SNEHA PLAN in 1998 with term of 20 years and the sum assured was Rs – 50000. Premium is 3627. Few days back my mother got expired. What is the amount i will get from the policy.
Thanks & Regards,
Shriramvaraprasad B.
Shriramvaraprasad-It is Sum Assured+GA. I have limited information about this policy. Hence, better you contact the branch immediately.
How to calculate returns? … I BOUGHT LIC ASHA DEEP POLICY IN 1996 OF RS50000/ PREMIUM RS.2620.00 PER YEAR … In 20th year(maturity) WHAT IS MY MATURTY AMOUNT
Dhanraj-Refer the post.
I have taken new jeevan shree policy in 2001 sum assured is Rs 500000. Annual premium is about Rs 33000.The agent says that I’ll get 1700000 Rs after 25 years.Is he right or lying?
Sangeeta-Premium paying term?
Thank you 🙂
Hi Basu,
I got a call from an LIC agent saying if i pay 1lakh will get triple times the return in end of maturity that is 8 lakh with benifits …some newly launched plan she said…”jeevan something*” I don’t remember the plan name correctly…but did I heard it right?? Could you please help me with the policy details if so.
Thanks & Regards
Jeevitha
Jeevitha-He is the biggest lier and cheater to you. Stay away from such agents. If he still shows such fancy schemes, then you can complain against him in LIC.
Hello Sir,
I have a plan of LIC Jeevan Chhaya since Sept 2010 and I am paying 3007 rs premium 4 times a year.
What will be the returns if I close this policy right now or how much bonus I will get if I continue with this policy.
Waiting for your valuable reply.
Regards,
Ajinkya
Mumbai
Ajinkya-Check with LIC branch for the values.
Hi Basu,
Thanks for the interesting article. Atleast gives some idea of LIC policies maturity. Though I understand your calculations but how do I actually get the amount for BONUS, Guaranteed Addition, LA and FAB? I have three policies 2 are Jeevan Saral (I believe only applicable for Loyalty Bonus) and 1 New Jeevan Shree (I believe applicable for all the four components).
Your response will be highly appreciated. I can share some specifics if you can help me with your email ID.
Ankit-You can check the LIC portal or my old posts for LIC Bonus rates.
Hello Basavraj,
I have following policy, but current in laps state. I am planning to surrender it,
1 . Need advice on it.
2. There is some vested bonus on plicy? can i get those bonus on surrender
Policy Premium Paid from Paid Till Sum Assured
Komal Jeevan Half year 2008 2012 3L – policy term 24 Premium term 16
Jeevan Tarang Qtry 2009 2012 8 L policy term 69 premium term 20
Jeevan Sathi Yearly 2006 2011 5L policy term 21 preimum term 21
Regards
Shyam
Shyam-If your policies completed 3 years, then including bonus LIC will calculate the surrender values.
Thanks Basavaraj for your reply.
Dear Sir/Madam,
I have a LIC money-back (75-20) policy (Table 20 – Term 20) with sum assured of 4 Lakhs.
1st premium paid on Dec 2001 of Rs.25,092/- (annually). Last premium of Rs.25,092/- paid on Dec 2015.
Till date 15 premiums paid for 15 yrs and 2 money-back of Rs.80,000/- each (20% of sum assured) received on Dec 2006 (5th yr) & Dec 2011 (10th yr). 3rd money-back (15th yr) of Rs.80,000/- is due this Dec 2016.
If I surrender the policy on Jan 2017 after receiving the 3rd money-back (on Dec 2016) and year-end accumulated bonus (on Dec 2016) without paying the 16th premium (due on Dec 2016), how much will I loose ?
Total Investment = Rs.25,092 x 15 = Rs.3,76,380/-
Total Money-back = Rs.80,000 x 3 = Rs.2,40,000/-
Vested Bonus accumulated till 2016 = Rs.2,60,000/- (approx)
Please provide your suggestion if I surrender the policy on Jan 2017, how much will I loose (in figures) from maturity amount and bonus. Also can I stop paying premiums from 16th year till maturity on 21st year ?
Thanks & Regards
Vikram
Vikram-Contact the nearest branch for surrender values.
Hello Bro,
I’ve taken LIC Bima Nivesh policy for a tenure of 5 years and sum of Rs 5 Lac. Can you please help to understand that on the date of maturity how much amount I will get. It will be great if you can show the calculation also.
Thanks,
Neeraj
Neeraj-Referring my video, you can do the calculation on your own.
Your calculation of return does not take into account the Cost of Insurance. The insurance we get is an additional benefit in any case and the cost which we have to pay for that Insurance is also a Benefit.
Krishna-Do you feel that COST of insurance matter that much that it gives you more than 7% returns (Especially in the current competitive term plan scenarios)??
Hi Basavaraj,
Good morning. I have a unique problem in dissolving the LIC policy which I had purchased 3.5yrs ago.
Need your valuable advise.
I want to surrender the policy [NEW MONEY BACK PLAN-25yrs PLAN No.-821]. Since its already 3.5yrs I have been paying the premiums (monthly ECS), I am eligible for survival benefit of 90,000/- (15% of 6L Sum Assured) by April-2017.
I searched online for the surrender benefit and it says after 3yrs its 30% of the total premiums paid (minus) the survival benefit already paid.
My question is:
If I surrender the policy after I take my 1st Survival benefit (i.e 90,000/-), and if the surrender value [i.e 30% of the total premiums paid (minus) the survival benefit already paid] comes to be a negative value, then should I pay back the amount to LIC before the policy could be closed?
example:
yearly premium is 30k
premium paid for 4yrs would be 1.2L
30% of 1.2L = 36k
30% of the total premiums paid (minus) the survival benefit already paid would be => 36k – 90k = -54k (negative value)
So to close the policy should I pay back 54k to LIC?
Pls suggest.
Sanjay-No, you no need to pay any amount for surrender. You take survival benefit and forget. The biggest drawback of such products will come to know when you go for closure.
Thanks Basavaraj for your advice.
You have mentioned “when you go for closure” …. anything I should be prepared beforehand when I go to LIC office for closure?
I was looking for other options instead of closure and came across “PAID UP policy” option. So will this be a good option instead of closure? Kindly advice.
Hi,
In your view, which is the best policy right now available in the market that not only provides life risk coverage but also fetches good return (if looked from investment angle)?
Thanks for your comment….
Regards,
Sushant
Sushant-May I know the meaning of GOOD RETURN as per your view?
As you have rightly commented, the average return is 5-6%. Any return more than current bank FD rate can be construed as good return to me.
Sushant-I need a perfect answer like 8%, 10% 12% or 15%?
Say 8%
Sushant-Then stay away from all these traditional plans. NONE can generate you more than 7% returns also.
Thank you very much for your instant replies.
In that case, what do you suggest to go with if not the traditional policies…?
Sushant-There are various options you can choose to get more than 8% returns for long investment (10+ years).
Can u pls mail me some of the options with life risk coverage…?
Suah-You can buy term insurance to cover your life risk.
Hi Sir,
My plan is Money back policy 820. (Total policy term 20 years) .I am paying my term for every half year is 18880. So yearly 37760. As you know sum assured is 5,00,000 laks. On every 5 year I will get 5% of assured bonus.So 1,00,000 I will receive on every 5 year. 5 th year – lak, 10 th year-1 lak, 15 year – 1 lak,totally i will receive 3 lak mid of the policy.
On finally 20 th year 40% of assured I will get so 2 laks. Here How much accrued bonus I will get on maturity? And how to calculate exactly?
I was wrong in above statement.On every 5 year 20 % of assured bonus I will get.
Logeshwarwan-Refer my recent post “Video tutor-How to calculate LIC policies maturity amount and returns?“.
suppose if I have taken the policy of new bima gold table no.179 (Money Back Policy) for 16 years with sum of 5,00,000 rupees and according the plan I would get the money back on 4th, 8th,12th and 16th years respectively. Please tell me towards end of the policy i.e.. after 16 years when the policy get matured then how much the total amount of money I would get….?? 07 years finished now… 75000.00 i got money back already
STARTED DATE: 26TH MAY 2009
PREMIUM: PAYING Rs.6425 FOR QUTERLY…….
RECOVERY: Rs.75000.00 AFTER 04 YEARS,
Thank you Viswanadh
Viswandh-Please take the pain to calculate on your own based on the procedure I explained.
Hi, Thanks for the wonderfull information and advise being provided by you.
Require an advise . I have a Jeeven Shree T.N.Nos 112 Policy .The below is the details of the policy
jeevan shree T.NO.112
Commencement date is 13.03.2001
Sum Assured is Rs. 5,00,000
Policy Terms – 25 (Premium Payment term : 16)
Premium which i pay yearly is 26,121
Can u help me out the working of the amount which i will be receiving after the completion of 25 years.
Have seen many web site but none seems to be clear.
Where can we find LIC Bonus yearly decalared .
Thanks in Advance
Murali-Refer my video.
Hi Thanks for ur reply.
Sorry to bother u am confused can u help me out in computing the same.
Regards
Murali
Murali-What is your confusion?
Don’t waste your time asking this guy. He sounds a bit arrogant – and like most arrogant people, is also quite wrong.
For example he writes “First we will look at what do you mean by without profit plans. In such plans there will be no bonus, LA or GA payable to you and on the date of maturity, only the sum assured will be paid.”
This is nonsense. I have the same policy as you Jeevan Shree policy ( T. No 112) and it says clearly ‘Without Profit’ BUT the policy document also shows Guaranteed Additions of Rs.75 for every Rs.1000 sum assured. So for my Rs.500,000 “Without Profit”policy GA is 37500 per year which will be multiplied by 25 and paid at the time of maturity (25 years). So his definition of Without Profit is quite wrong.
Armugam-Best of luck 🙂
Dear Sir,
I have Jeevan Mitra triple cover with term 15 Years and sum assured 5 lakh. What Amount I can expect at maturity?
Thanks in Advance
Sam
Sam-It is typical endowment plan. You can calculate on your own by using above method.
Dear Basavaraj,
I am paying premium Rs. 14,479 Quarterly for The Money Back policy 20 years (T. No. 75)
Started at the age of 20. Sum assured is Rs. 9,00,000.
Could you please tell me how much i will get in return.
Thanks.
Vinodh-It is around 5% to 6%.
Than you sir for the information.
I am investing Rs. 1500/- per month since 28/12/2010 jeevan saral. It is 20 years term policy. How much will I get in return after maturity. Sum Assured is Rs. 375000/-
Please help.
Santosh-It will be around 5% to 6%.
Thank you for your response Sir. Can you please just let me know a lump-sum amount. Please Sir…
Santosh-Please calculate as I explained above.
Hello Sir,
I have Jeevan Chhaya LIC Policy of 13lacs sum assured for which I paid 72k appx. for 3 financial year.If I am going to surrender this Policy I am eligible to get appx. 1,2 lacs appx. Can you please suggest, it is better to surrender it with around 1lacs loss?
Megha-Best option.However, if you feel that loss of Rs.1 lakh is more than future earning then continue. Also, continue if you feel 5% to 6% return on your investment is BEST. Otherwise, it is better to come out.
Hello Sir – I spoke to agent and he was telling if I will continue for next 2 yrs ie 5 premium yrs, then I can able to recover at least my invested amount.Please Sir suggest me. I was thinking to minimize loss out of it.
Megha-Contact the LIC branch (Not an agent), ask for surrender values, then decide.
Dear sir,
Greetings of the day !!
Sir i have 2 policy which started in 2009 yearly basis one is regular ( Rs 6984) and second was money back after five years (Rs 12458) and now i wanted to close due to some prob. and as per agent very less amount i will receive.
Request you to please guide me on above and how much maximum amount i can get it.
Thank you for your time and guidance.
Warm regards,
Devendra
Devendra-Contact nearest or servicing LIC branch.
Sir
Total amount calculated in that time which I withdraw against 25000
Prematured claim bina nivesh 2005 policy after my mother death
Sanchita-It is Sum Assured opted+Accumulated bonus as of the year. You can check the same with nearest LIC branch.
My mother have died last April 2016 she hold a policy lic bima nivesh 2005 on 2013 Dec. And I am nominee this policy and amount only 25000 now l can not understand how much rupee return or withdrawal
Sanchita-It is the sum assured in the policy, which you will receive.
I do not know ,but l actually know how much money will withdraw in that time against 25000?
Is there any option to collect the return comparison of LIC Money Back plan and LIC Money Plus plan.?
If yes than plz kindly provide the reference Link?
Mehul-You can do the calculation using the video I created above.
Hi, what is the impact if in a policy we have enrollment year and commencement year different. What does these mean. Does this mean any loss in benefits?
Raj-Not a big deal.
Hi, I ‘ve a very general question.. Do we get our premium amounts with sum assured??
For ex for my policy sum assured on maturity is 2 lace after 15 years. And for ten 10 years, I paid the premium 25k each year, that mean 2.50 lac
That means I will get 2.50 lacs + 2 lacs after 15 years?? Am I right or I will get only sum assured on maturity??
Anu-NO. only Sum Assured.
Sir, request your expert views on the following:
1) I have a jeevan shree policy in 2001 paid 15 yrly premium out of 16. I have a loan o/s since last 3 yrs. Should I repay loan or only service interest
2) I have also taken 10 lac jeevan anand policy in 2004 for 21 yrs.again have taken loan. Should I repay or srrender? Pls advise. Thanks
Raj-1) It is left with you. If you have surplus, then better pay off. Otherwise, pay the interest ONLY.
2) Again it is left with you. Also, if you are satisfied with kind of return of 5% to 6% from this policy, then definitely go ahead and continue it.
Sir Many thanks, request your firther guidance:
1) While I have the surplus tto pay off the laon, i am confused if i should do that or invest the same in a mutual fund, while continuing to pay interest.
2) Jeevan Anand – Is it better to surrender or to pay the loan since i have paid 50% of the tenor i.e for 11 year out of 21 years. if the furture premium plus interest payable on the loan gives better return in mf or ppf, I would prefer to invest in mf or ppf then.
Please advice. thank you.
Raj-1) It is purely your decision. I can’t say of this. Because I don’t know your full financial status.
2) I already replied. If you feel 5% to 6% is good return, then continue. Otherwise you have to surrender.
i have money back policy, after compition of 4th year, how many days i will get my first money back amount
Dinesh-It depends on policy feature. Check the same in policy document.
hi basu,
I have small query and suggestion.
First of all I want to thank you for teaching me (LIC agent) and aspiring CFP on how to calculate IRR of lic premium.
Everything else remaining same.
I wonder why you did not take tax saving feature of lic while calculating IRR.
As you have said in the video anything that goes from your pocket will be negative.keeping that point in mind, A 30 year old guy having a salary of 25 lacs PA decides to pay 1 lac premium to lic for 20 years.
Even though he pays 1 lac premium which will be gross amount. he will be able to save 30,000 on tax as he falls in 30% tax slab. So the net amount that will actually go from his pocket is 70,000. So if you calculate with premium of 70,000 the IRR will be around 9% to 10%.
Another point is i took example of a person who is under 30% tax slab. So i do agree that returns on investments will differ according to tax slab as tax saved will be different for 10%,20%,30%.
i wanted your views on this.
Ajinkya-You way of calculation is exactly like typical agents do to sell such low yielding products. I agree that I not considered tax benefit. But what about maturity? Currently, it is tax-free. But what if they turn into taxable in view of promoting term insurance. Because IRDA now started pushing term insurance by incentivizing more for selling term insurance. Hence, I avoided tax part fully.
Dear Sir!
I have taken Jeevan Saral Policy on 2009 and still now continuing, sum assured is 1037500 for 35 years tenure.
My Qly EMI is 12709, and If I want to close after 10 years what would be the maturity amount along w/ bonus+LA (if applicable)?
Your advise will be helpful for my planning.
Have seen the video, however it would be great if you could help on this.
Regards,
Karthik
Karthik-Please go through my earlier post on this particular plan. You get an idea “LIC’s Jeevan Saral-Why so much confusion?“.
sir which plan is more profitable.4500p.a. term plan of 2000000+6000F.D.p.a. or 10500 endowment plan of 300000. I am confused.i think the first one is more profitable.
Suddeesh-Why you combining insurance with investment?
hello sir can u pls tell me how to calculate for any policies…like if i take 100000 lac rs policy then yearly and monthly how much i have to pay…the bonus and….service tax…//
Umesh-I already explained the same in above video and post also. Please go through it.
Sir,
I want to take loan against my existing LIC Policy Jeevean Saral
I can avail loan around 90000 INR.
But i do not know what is the EMI?
What is the tenure for this loan?
Vinay-There is no EMI. But you have to clear the interest dues. The tenure of loan will be up to your policy maturity.
Hello Sir,
I have taken Jeevan Anand policy which will end by 2016. I heard from one of my friend (even he is not sure) that last premium need not to be paid. Is it correct?
Thanks,
Aradhya
Aradhya-Insurance policy term let us 25 years means you have to pay 25 installments. But you receive the amount at the 26th year beginning, means once you complete 25 years of policy period. So he might wrongly felt that last premium need to be paid. But reality is different. It is his misconception.
Sir I just want to ask that is the maturity benefit 100% guaranteed in jewan Anand policy?
For example I was told to get 35 lacs for the 9lac sum assured for 30 years term
Sunil-NO, it depends on yearly bonus LIC declares.
I have purchased the policy LIC Jeevan Anand on 1st August 2004.
Policy term is 21 years.
Sum Assured is 100000 INR
Annual Premium is 5383 INR
How to find surrender value as on today?
Also how to find bonus?
Vinay-You have to visit the nearest LIC branch to find it.
Thanks Basavraj Sir
Sir-my father had purchased the policy LIC jeevan an and on 1 April 2006.
Policy term 21 yrs. Sum assured 200000.Annual premium 10767.00.
My father have died last June 2016. And he hold this policy. I am nominee this policy..one more thing two installents of annual premium is left .. But I really don’t know about this criteria of lic.
Plz tell me the total amount.
Pooja-I think it is lapsed. First check with concerned LIC branch or visit the nearest branch immediately.
Basavaraj- I started my Jeeavn anand polocy plan-149 on 28th august 2013. Premiun-15754 (HLY) . And after 1 year the vested bonus is shown as 22000. But when i checked in this month it is shown as ZERO. Please help me out of this.
Srikanth-It reflect after 3 years. Don’t worry.
Thank you Basavaraj……
Thanks a million for the beautiful explanation.
But I would like to know & understand that FAB & LA both are given to the policy holder if he/she is paying the premium regular & meeting the definition of FAB & LA.
Thanks a lot.
Pratik-FAB is a one-time payment payable at maturity, which is usually per Rs.1,000 of your sum assured. Loyalty Addition again a one-time payment at maturity which depends on same as that of FAB but sometimes on Maturity Sum Assured (like in case of Jeevan Saral).
Hi Basavaraj,
I need help in calculating returns of my policy. Will you be able to assist me on this. Pls let me know. Thanks.
Regards,
Viswanath. R
Vishwanath-Please go through above video. You will understand it.
DEAR SIR,
I BOUGHT LIC ASHA DEEP POLICY IN 1995 OF RS 50000/- SUM INSURED ,PREMIUM RS 2038/ YEARLY AND FOR 25 YEARS
WHAT I WILL GET MATURITY AMOUNT AS THE POLICY IS MATURING ON DEC 2020.
PLZ REPLY AT MY MAIL
Vinod-Please refer my recent post “Video tutor-How to calculate LIC policies maturity amount and returns?“.
Appreciate your calculation on surrender value of Jeevan Saral at the end of 10 years;
1) Annual Premium-1,92,160
2) Date of commencement-15/02/2008
3) Policy term-35 years
4) Maturity date-15/02/2035
3) MSA on policy document-30,92,782
4) Accident benefit sum assured-24,50,000
5) Table 165, 28
6) Regular Premiums are paid till date
Dear Sir,
I am curious to know surrender amount after 10 years.
1) Annual Premium-1,17,698
2) Age-42 years
3) Date of commencement-15/02/2008
4) Policy term-35 years
5) Maturity date-15/02/2035
6) MSA on policy document-30,92,782
7) Accident benefit sum assured-24,50,000
8) Table 165, 28
6) Regular Premiums are paid till date
Still 2 years are balance to accomplish 10 years. Is there any benefit to wait for more 2 years or surrender immediately?
Rajiv-You can consult the LIC branch.
Hi Basu,
I think starting of the every Year, Vested Bonus will update in the LIC Portal. But in 2016 it is not upadted. Do you know when it is updating and which month ?
Mathews-Not sure of month or date.
I would be happy if my 35 year Jeevan Anand gave me more then 6% return or at least 6%. Taken at the year – 2007
Nicky-Great 🙂 If you feel 6% return is BEST for you, then continue to invest in JEEVAN ANAND.
Sir,
I would like to know that what will be the expected trend for the NAV in 2016 for LIC endowment plan (Table 802) in comparison to 2015, it will increase or decrease.
Chauhan-Check the historical NAV data from LIC Portal.
Dear Basavaraj,
I have taken a Jeevan Chhaya Policy in 2002 March. At that time I was aged 37 years. My Policy term is 18 years. The premium I pay is Rs.6848/-p.a. The Sum Assured is Rs. 1,00,000/- . I would like to know how much I would receive after 18 years. The Policy Maturity will be on 2018. Is it better to withdraw now.
Kindly let me know please.
Maheshwari-It will be around 5% to 6%. Better to continue as it is about to close.
Sir i have a lic 179 new bima gold policy taken on 23/03/2013 but till now i am not getting my moey back …why sir
Joy-Check with concerned Bank. In my view your bank details not updated with LIC branch.
Sir,
I am planning to take Jeevan Anand polify for a term of 21 years for a sum assured of 1500000. My current age is 29. Kindly let me know what will be the maturity amount that I will be able to get.
Also please explain how the component of Final additional bonus(FAB) is applied. I couldn’t find any information online which explains this clearly.
Thank You
Yogesh
Yogesh-You can expect around 5% of return. FAB is explained in detail in above post.
Dear Sir
I have taken LIC endowment policy (Table 14) in the year of 2012. Total 10 policies (Premium term from 12 to 21 years) each 1lac for total of 12years. Paying 62k per year. Vested bonus is available online. I would like to know the maturity period and amount.
Ravi-Maturity period will be term of each policy. Approximately you can expect around 5% return.
A) I have taken three policies :
1. Jeevan Sathi : SA : 100000 (premium ~5200Yearly) – (for 21 years) (Start date : 2010)
2. Jeevan Saral : SA : 125000 (premium ~6005 Yearly) – (for 21 years) (Start date : 2010)
3. Jeevan Saral : SA : 125000 (premium ~6005 Yearly) – (for 21 years) (Start date : 2010)
Should I continue this policies? What max. return I get with vested bonus ? for each policies (approx idea is enough)
If I discontinue, How much I get on surrender?
B) I have one home loan (~25000 EMI) with term plan. If something happens to me, My family need not to pay any further home loan EMI. Is it enough term insurance for me OR Should I go for additional term plan ? Please advise.
C) I am planning to Invest in Sukanya Smriddhi scheme? 3000 RS. / Month. Is it good scheme for girl child?. Wanted to ensure some amount for children education.
D) I wanted to have ~ 50 Lacs at retirement? What should I do? SIP or PPF else?
My yearly income is ~ 12 Lac. I am 30 years old. I am the only one source of income for my family. Five Family member.
Thank you for your advise in advance.
Sir,
I have 2 LIC plans
1) Jeevan Shree (T.No. 112). Premium Rs 25,416 (sum assured 5 lac)
2)The Endowment Assurance policy (T No 11) Premium Rs 8528 (sum assured 5 lac)
Both the policy I started in 2001 and never missed a payment since.
I was told by my agent that I will receive some 18 lac on my first policy
I am not sure about what I will receive since the lic site never shows any bonus nor any figure what I will receive.
Is it good to still continue with both the policy. I still have 1 year to finish my whole payment on policy 1 and policy 2 has payment till 25 years.
Ranjeet-I don’t know the term of the policies. Hence, hard to comment.
Sir,
The policy term is as follows
1) Jeevan Shree (T.No. 112). Premium Rs 25,416 (sum assured 5 lac) Policy Term 25 (Premium Payment Term: 16)
2)The Endowment Assurance policy (T No 11) Premium Rs 8528 (sum assured 5 lac)Policy Term 30 (Premium Payment Term: 25)
Ranjeet-Agent’s say many stories to lure customers. In my view, the maximum return from 1st policy will be around Rs.12 lakh.
1) Either convert to paid up or continue as you almost paid the premium.
2) Better to surrender.
Dear Basavaraj Tonagatti
,
I have taken a Jeevan Mitra Policy in 2003 July. At that time I was aged 24 years. My Policy term is 15 years. The premium I pay is Rs.10311/- The Sum Assured mentioned in my Policy Bond is Rs. 1,50,000/- . I would like to know how much I would receive after 15 years during my Policy Maturity will be on 2018
Kindly let me know please.
Thanks in advance!
Faizal-It will be around 5%.
Hi sir..i have a doubt regarding bonus…when bonus for a particular year is fixed at 40(say) when i agreed for an lic policy and it is revised the following year as 45,will it continue to be as 40(initial bonus) or will it be 45(revised)???kindly guide
Anish-There is nothing fixed. It will change yearly.
Dear Mr.Basav,
One of my cousin has the below mentioned policy having below details :-
LIC’s Jeevan Shree – 1 (with Guaranteed Addition for 5 yrs and with Profits thereafter); Table 162; Term 20 yrs.Commencement: 03/2004;
Maturity: 03/2024
Premium for main plan Rs. 9212 (Qtrly)
Date of Last payment : 12/2015
Premium: 233872 (extra 13.5% premium incuding)
Paid for seven years until 2/2015;
Premium term: 12 yrs (i.e to pay until 2019).
Sum Assured: 5,000,000
Can you guide us that if this is the right time to quit so that they can repay other loans?
Suppose if we quit, How much we will get now?
Thank you.
Vidya Ganesh-First check both surrender and paid up values with LIC branch. In my view, it is better to quit and pay the loans (I am not sure what type of loans are these).
Dear Mr.Basav,
Thanks for your quick reply. Really Appreciate. I will tell them to check with LIC for this option. They are having housing loan. But I think if they quit now they will get an amt less for Rs. 5 lacs (say around 3.5-4 lacs). Is that correct?
Thank you
Vidya-Yes, but better to come out and invest wisely than committing the same mistakes again and again.
Hello Sir, I am little confused on the calculation part if I use below link.
http://www.policydunia.com/lic-new-jeevan-anand-premium-calculator/
For a person aged 27, opting for a term of 33 years and sum assured 0f 100000 it shows the maturity benefit as 413400. Bonus has been considered as 48 per 1000 of sum assured. As per the calculation mentioned by you, it should come around 100000(SA)+158400(B)+FAB. Is the difference of 155000 can be of FAB ? What is the usual FAB rate for Jeevan Anand Policy. Kindy suggest.
Akshay-I think the said portal considered the FAB at higher end. But better stick to bonus and the sum assured and calcualte on the return part. I don’t think FAB will create a major difference in return part.
Sir, I have taken jeevan anand, in 2012 for 20 years, And Sum assured is 532000 rs. Let me know how much I will get in 2032 after complete the policy.
Regards
Brajesh
Brajesh-Please calculate as I explained the procedure above.
I bought an LIC Bima Gold (179) policy in 2006. Sum assured Rs 15,00,000 and annual premium 58,000. I have already paid 9 annual premiums, received two installments of 1.5 lakh each in the years 4 and 8 of the policy. At the end of 20 years I am supposed to get back nearly 5.6 lakhs (total premiums – survival benefits of 1.5 lakhs paid four times) with loyalty additions.
After hours of calls to LIC customer care and online research, I have failed to find any info on how much this policy means in term of loyalty additions. My question is, is this a good policy to continue? I am unable to find any information on what will happen to the loyalty additions if I stop paying the premiums now.
Possibly if the loyalty additions are just like bonuses, then I may get 12 lakhs as loyalty addition. Or 17 lakhs in total after 20 years of paying 58000 annually.
If I stop paying the premium, the policy becomes paid up. The paid up value is now 2.2 lakhs (premiums paid – susrvival benefits already paid) which I will receive in year 20. But will I lose all the loyalty additions or the loyalty addition will still keep on adding on this 2.2 lakhs?
If I do not lose the loyalty additions, I think it would make more sense to buy a term policy of a higher sum assured (I have a family now) and invest the rest in MFs. I don’t quite understand if I will be breaking even or cutting my losses or actually gaining anything if I stop paying the premiums.
I would greatly appreciate any suggestions and advice on this. Thank you.
CM
CM-LA will be one time payment payable based on how much loyal you are (for how long you stay with them). You can check the current LA rates for your plan and based on that you can assume the expectation. Whatever way you do calcualtion, let me give you a reality. If you are satisifed with 5% to 6% returns, then continue otherwise think seriously and convert either surrender or paid up.
I have questions on LA.
I have 3 policies with Jeevan Saral, each of annual premium 12010 / – for 20, 21 and 22 years respectiely.
LA is declared after a jeevan saral policy has received 10 years of premium.
Now, if i take my policy with term 20 years, will LA get accumulated every year or at the maturity only based on the rate which LIC declares.
i.e.
year 11, cash value is x, and LA is Y, net at end of 11 years is X + Y
year 12, cash value is X+Y, LA for this year is Z, net at end of 12 years will be X + Y + Z
OR
For a 20 years term policy, LA will be added based on the LA rate declared by LIC only at
1) maturity
2) Surrender after 10 years of premium is paid
3) Risk
One more question, based on the many jeevan saral charts, JEEVAN SARAL basically is RD sought of account where we have RD interest rate. The % considered i 8 %, is it correct?
Prabhu-Unlike bonus, LA will be one time payment. Which will be calculated on MSA and term of policy. It will not be accumulated on yearly base.
Hello sir,
I had a jeevan saral with profits. It’s details is 1000/month + 20/month rider. From Dec 2009 to Nov 2025 and maturity on Dec 2025. Matured sum assured is 182040 rs. Death benefit sum assured is 250000. I don’t want to continue this policy. How much I get if I surrender this.
Thank you.
Shiva
Shiva-Contact LIC branch.
Hi Basavaraj Tonagatti,
Everybody knows that if they contact branch they will get information. Due to curiosity people are asking roughly how much they can get.
Being a government organization of LIC you may know how responsive LIC people are if you visit branch to Surrender an LIC Policy.
I personally had a very bad experience in LIC branch people when I enquire about surrendering a policy.
I don’t think you will have a problem to tell surrender value of a policy based on your experience considering the details provided by the requester
Thanks,
Raja
Spark-First thing is, people need CLICK a button READYMADE information even for simple calculations like surrender or paid up. Second thing, I can’t handhold them for all the things. They must be responsible buyers (in case of LIC investors) of their money. Third and important point, they not provide the complete details to arrive at surrender value and reply. Fourth point, they can now get information either on LIC portal (by creating login) or by sending SMS. If they are so LAZY of their own money, then forget me even GOD can’t protect them. It is a harsh reply, but a reality.
Hi,
I have a Jeevan Anurag policy, 20 years, yearly premium of 26500, S.A 5 Lacs.
completed 4 years..I want to surrender this policy now
Any idea how much the surrender value would be
The lic portal says the vested bonus is 63000. Will I be getting surrender value more than 63000, same or less than vested bonus of 63000?
Regards,
RK
RK-Contact LIC branch.
I took this policy from an agent and he is not touch now. Also, for now I didn’t have contact details of branch. Hence I posted this in this forum to get any quick help.
I am in need of money. Can someone please tell me how much I can expect If I surrender the above policy?
Thanks In Advance,
RK
RK-You can call the branch or visit nearby LIC branch to get the information. Also, note that to surrender your policy, you have to visit the servicing branch.
I also contacted LIC branch, to surrender your policy –
1) you need to fill forms
2) Give bank details with NEFT details
3) submit your original policy
4) Once submitted everything you will get receipt by post
As per my knowledge, you will not get any bonus after surrender of policy.
Total amount you will receive is 30% of total premium paid till now minus premium of 1st policy
corrected above –
Total amount you will receive is 30% of total premium paid till now minus 1st premium of policy
Ganesh-Procedure is correct. Understand first what is surrender. It is early closure of policy. Regarding how much you receive, it depends on individual case.
Hello sir,
I want to clarify my doubt that
My lic jeevan mitra policy is from November 2001 to October 2021 How much money I get if I stop this policy.
Its premium is 530 per month. Sum assured is 1 lakh.
Its surrender value is written as “This policy can be surrender for cash after the premiums have been paid for at least 3 years. The minimum surrendered value allowable under this policy is equal to 30% of the total amount of the within mentioned premiums paid excluding the premium for the 1st
year and all extra premiums ,the cash value of any existing vested bonus additions will also be allowed.”
Thank you.
Shiva-In my view, it is better to continue as another 6 years only left for maturity. Otherwise convert the policy to paid up.
Thank you for your reply. Is there any disadvantages by making it to paid up. I had lic plans like jeevan saral, new bima gold, and another 2 lics. I want to stop them too.
Thank you
Shiva-Turning paid up surrender depends on the tenure you completed.
Hi Sir,
Request your help on New Bhima Gold policy that I either wish to surrender or make it paid up.
I have been paying premium for this policy since March 2007. Quarterly premium is Rs. 4512 and sum assured is Rs. 5 lakh at the end of 20 years
I have received Rs. 5o thousand each at the end of 4th year and 8th year.
Now I want to dis-continue this policy. However I am confused when I should make it paid up or surrender the policy.
I had visited the LIC office and they told me that the current surrender value is Rs. 16961.
Can you please advise whether I should surrender the policy or make it paid up?
Thanks,
Renuka
Renuka-In my view surrender. Because you already received Rs.1,00,000 and remaining Rs.16,961 means total Rs.1,16,961 compared to what you paid around Rs.1,40,000. Go ahead and surrender.
Sir, my father bought a policy of lic 15 years back at that time agent told that return will be 2,31,000 if policy taken of 100000 for 7600 per year but now he is telling that we will only get 1,68,000….what should we do now my father has planned many things with this money
Amit-Nothing but effect of BLIND FAITH or MIS-BUYING. You can’t do and ask agent.
Hello Basavaraj,
My name is Bhaskar, i am from bangalore, i have a lic endownment policy plan 802, have paid 5 year till date, 1 lakh every year. As it is market linked plan as per the indian stock market every 30 years it has grown 100 times, what would be your idea the value would be if i continue paying 10 year premiums. what would be the investment of 10 lakhs rupees in 2030. Please reply. Hope you would comment on my message.
Bhaskar-Who said that Endowment policy is market linked? It is a typical endowment tradiational plan where you get returns of around 5%. If you are pointing towards old Endowment Plus, then whether this product guarantee you that it exactly give you the returns which will be generated by NIFTY OR SENSEX? The problem in your case is not about understanding the power of equity for long term, but chosing a wrong product which involves heavy expenses and no track record. Continue at your own risk.
My Father has a policy – MONEY BACK WITH PROFIT PLAN (Table No: 75)
Term 20 yrs.
Policy No. 292680317
Commencement: 03/2004;
Maturity: 03/2024
Sum Assured: 51000
Premim Amount HLY – 1805
Bonus Get Amount =10000+10000=20000
My Father Death August 2015
AB Mujhe Kitna Paaise Wapas Mil Sakta Hai Please Sir Help Me
Vijay-Contact your servicing branch.
Hi Basu
First of all thanks for providing valuable information to all here.
My husband has a policy – LIC’s Jeevan Shree – 1 (with Guaranteed Addition for 5 yrs and with Profit); Table 162; Term 20 yrs.
Commencement: 02/2008;
Maturity: 02/2028
Premium: 233872 (extra 13.5% premium incuding)
Paid for seven years until 2/2015;
Premium term: 12 yrs (i.e to pay until 2019).
Sum Assured: 25,000,000
Accident Benefit Sum Assured: 25,00,000
No TermAssurance
Question1: He has accident benefit (no term assurance) and the LIC agent says at maturity he will receive about 60,00,00. How much should he receive at Maturity in case of no accident or death? And in case of early death he would like to know what amount his dependent will receive?
Question2: We are overseas and have have paid through NRI account.
We are now planning to settle abroad .
We are worried about the long process involved in claiming policies and also money being blocked. Also my husband will be 70 yrs at Maturity of this policy. Both being too old to go through all the hassles of claiming – at an old age.:)
So thinking to surrender this policy. Is it advisable to do so given already paid 7 premiums out of 12? How much will I get back as of now?
Question 3:
Also I read above you mentioning about ‘paid up’. Do you think I can do that and is that is a better option than surrendering? In that case how much will I get at maturity?
Keep up the good work
Anna
Anna-1) At maturity he will receive Sum Assured+GA (for first 5 years)+Bonus. Including all the return may be around 5% to 6%.
2) I know that being far and claiming LIC policy is cumbersome. Because as of now they have not any set up which we may say ONLINE. However, consider the returns from this policy, if your expectation is higher and no longer willing to continue, then go ahead and cancel.
3) Yes, you can opt for paid up where they pay you the money at maturity. Surrender is beneficial when you are in intial stage of policy and paid up when you are about to close maturity. First take both the values from LIC branch and then decide which suits to you.
Hi Basawraj
Thanks for all your efforts.
I have just one question. In the Bonus example you gave: Sum assured: 10L, LIC Bonus: Rs40/1000 Rs invested (= 40,000)
My question is what happens in the next year? Does the bonus gets calculated on 10,00,000 or 10,40,000? If it is not compounded, then what only matters is the bonus at the maturity ending year (assuming of course i dont die!)
Again, thanks for writing this article and more importantly answering all the queries being put up in the comments section very diligently.
Regards
Ankit
Ankit-This is the reason all traditional policies give you less returns. They not compound it but they keep it just idle up to the maturity or death. So no question of calculating your bonus from Rs.10,40,000 but again on Rs.10,00,000 only from next year.
Dear sir,
Thanks for the article and its very educating. Please help me out for my below doubts. 1)There are two scenario of bonus calculation in Jeevan Anand. a) Scenario-1 : 6% b) Scenario-2 : 10%. Both are not guaranteed. My question is which scenario or rate is actually given to us by LIC. or in other way what rate of interest can i expect at the maturity of my policy at 2032.
2) LIC declares a bonus rate for each year for all policy. It is nearly constant (44) per 1000 sum assured for Jeevan Anand. Is it going to be constant till my policy maturity or will change .
Sagar-1) NONE. They considered 6% and 10% just for illustration purpose. But the reality will be purely depend on the bonus they declare year on year. 2) In all probability YES. But we can’t predict the future. So the answer is “ONLY GOD KNOW”.
Thanks sir,
It is rarely seen any body replying each and every mail sent and help other unanimously . Keep the good work going.
Hello Sir
I had a policy Money Back 20 years with profit, with DAB in 2011. Table 75. Premium is half yearly of rs.9557. The maturity year is 2031. Plz tell me the maturity amount.
Varsha-The return will be around 5% to 6%.
Sir plz tell me the maturity amount is SA is 300000
Varsha-You calculate on your own by going through above procedure and current bonus rates.
Hi,
I have a endowment policy and have been paying 45657 as yearly premium. Policy Term is 21 years.
I have paid 7 premiums till now.
I wanted to what will be return if i cancel the policy now? Will waiting till half term (i.e. 11 year) be advantageous?
The vested bonus shown is 288000.
I have purchased a pure term policy and would like to invest this amount somewhere else with a higher return.
Thanks and Regards!!!
Aditya-Contact nearest or servicing LIC branch for the same. There is no such advantage of completing half way mark of term of policy.
Thanks Basavaraj,
What amount can i expect in return?
Aditya-Around 5% to 6%.
I wanted to find out what amount will be returned to me as of date, if I opt out of this policy.
Aditya-Check my latest blog post “Check LIC Policy status without registration by Mobile Phone or SMS“.
This article doesn’t have any content related to Termination of policy and the amount refunded when the policy will be terminated.
Sorry for bothering again. Thanks for all the help!
Aditya-What content you need from my end to an individual policyholder when it is totally personal and one must have to get from LIC?? 🙂 People never do research while investing. However, they eyes wide open only after buying. What is the use??
I have Jeevan mithra Sum Assured _+ Vested bonus ie on surving on date of maturity.
I am paying premium from 1998 , Since Prathan manthri insurance has come I do not want to continue LIC policy , in such case how much I will get bonus on closing the policy.
I pay premium of 6200 , Sum assured mentioned is : 150000. , Right now in the portal says loan elibible is 138000.
is it wise idea to take loan or close the policy.
I am not interested for Death Benifit option.
Raj-It is up to you to decide whether to go for loan or close the policy. In my view it is better to close.
Dear Sir,
Good day
self is intending to start a limited endowment policy of LIC (830) for the sum insured of 10 lacks
please guide how much return should i expect at maturity of 16 years
awaiting yours please.
BasuNivesh ,
I run one policy JEEVAN SHREE-I (Table No. 162) per year i pay 36000 for 12 year but will mature after 20 year .
sum assured is 500000 . I start at 2008 . but will mature at 2028. can u please tell me how much i will get after 20 year . please.
thanks,
soumita
Soumita-Returns will be around 5% to 6%.
Hi,
I have a bhima gold and saral jeevan plan and i pay my premiums every month. This month both the policies have completed three years. My june premium is not deducted as i pay them through ECS and i hsve received a mesg stating that my june premiums have been adjusted. I dont hsve a clue with wht have my premiums been adjusted. Can you let me know would there be any bonus accured?
Noel-First check your bank statement. If it is not showing any such payment then get in touch with your nearest LIC branch.
Hi,
I am running two jeewan Saral Policies, Each sum assured is Rs. 250,000 since 2010…
Kindly let me know how much amount i will get on maturity….it means on 2030
Pls. reply, i am so much confused weather this policy should be continue or not…
reg
Jugesh
Jugesh-Why to confuse? If you are comfortable with return of around 5% to 6% then feel happy.
Hi Sir,
my query is i have taken a education load at the time of my graduation start’s, at the same time my banks wants a secure money so bank suggest to make a secure policy at that time my parents take the Plan 14(The Endowment Assurance Policy) Policy Term -25 Premium Paying Term -25 yrs & i have submitted my premium amount of Rs.10145/– i want to know the exact mature value & at what age i got this.
Awaited your valuable response.
Regards
Ankur Saxena
Mob:+91 9717474930
Ankur-Secure money and secure policy? It is secured income for them and you being trapped. There is no such rule that one must go for any policy buying while taking education loan. The return from this policy will be around 5%.
Sir I have endowment plan t 14 half yearly Premium 20958 ..I am continuous. Running it….it for. 10 years …start at June 2013 …what is the maturity amount…expected…
Jay-Go through below comments. You can get my answer.
Hello,
I got call from one company to suggest to avail my vested bonus after 3 years into my saving account. As per him, If I do not get so then 40% of amount will be given to LIC agenyt + rest to the company. Therefore, he suggested me to get all vested bonuses into saving account. Once it is done then every time it will be credited to my saving account automatically. Shall I proceed the same means :
1). Will that agent get amount of my bonus if I do not proceed.
2). If I proceed then what is loss of doing same?
I also dont want to share my bonus or any type of commission to agent. I know they get some amount. But, I am investing my money then why shall he get profit without investing anything.
Awaiting your response.
Thanks
Aashish-I feel it some spam call. Inform the same with insurance company regarding the same. Because there is no such system or product which the caller shared with you. Also, no insurance company will share buyers bonus either with an agent or on it’s own. It is a fake call.
Thanks Basavaraj. I have noted your suggestion. Can you please guide on after maturity will I get my complete amount (SA + Bonuses etc) from LIC without any deduction. OR some percentage will be given to agent. If so, then what will be percentage from my account ?
Aashish-After maturity you will receive all SA+Bonus etc to you without any deduction. There is no agent’s sharing on bonus. He will earn commission only on the premium you pay but not on the accumulated amount.
Thanks a lot again. Also, is there any term like “lock vested bonus” in LIC else it will be canceled for first year if it is not locked. It is considered that 10% of LIC policies is not locked, therefore customer looses additional extra bonus though at maturity,he gets all amount as suggested. But, for first year locking of vested bonus is must. Is there any such process/concept. ???
Aashish-There is no such facility which you may call “lock vested bonus”. This is first time I am hearing it. As I said, the person who is informing you completely misguiding you. Either believe me, LIC or the fellow who introduced to the new concept called “lock vested bonus”.
I had purchased lic policy jivan mitra table on 88 for 25 yrs of rs. 25000.00
what will be amount back on maturity?
Patel-There are numerous answers related to such endowment plans. Please go through them. The return will be around 5%.
I am planning to insure and invest 25,000/year for my daughter, please advice me that my below direction is correct.
For investment i am planning to put in PPF (rate of interest is 8.75%)
And for insurance which family floater scheme is good pl suggeest. Also i am not a smoker.
also want professional indemnity isurance (doctor)
pl guide me which is better.
Both the above will come under 80C and hence i can save my tax also.
I am not sure whether my direction is correct so please advice me your thoughts, please.
Dr Yogesh Nimonkar
Yogesh-When you say insurance, first clarify which insurance. Life Insurance or health insurance? In Life Insurance, there is no such plan called family floater. It is an individual plan. Also PPF is good, but I suggest to restrict around 30% of your investment to this, rest you have to invest in equity mutual fund.
Hello Sir,
I have taken one LIC policy – New Jeevan Anand ( T No. 815 )
Sum Assured ( SA) = 5,000,00
Policy Term = 25 years
Premium Payable = Rs . 5425 Quarterly
Policy Status : Normal Premium Paying Policy
I have two question .
1. In LIC website , I can see vested bonus amount as 0.0 ( ZERO ) . What does that mean ?
2. What would be the return on maturity after 25 years. ( I have gone through some sites and found out it would be nearly 11,000,00 ) . But i want to have a statistics from you Sir.
Could you please answer to my queries , so it will be clear for me for investing in LIC more in near future.
Thanks in Advance.. 🙂
Ashutosh-Bonus details get updated after completion of 3 years of a policy period. What your agent told about maturity value? Have you cross-checked before buying? If he shared that with you then please comment here to discuss further.
Thanks a lot Sir for clarifying queries.
At the time of policy enrollment, the maturity return was not been discussed as I was not aware of all. But i can remember , Agent was saying nearly double the money i invest,where it should be nearly 10,000,00.
Can you please clarify it , what would be the maturity value if i continue the policy for its full term.
Awaiting your reply .. 🙂
Asutosh-I understand your eagerness. But I am making you to learn few things on your own. Ask your agent once again by calling how much you get and how he arrived at the maturity value. Share the same, we discuss further.
Hello sir,
I tried to reach my agent , but he is out of city for 15 days. But I had a talk with my friend who had taken similar policy and he shared me the calculation what his agent shared during the policy enrollment.
S.A =5,000,00
Policy term = 25 years
As per bonus table , if Policy term > 20 years, then bonus rate is 48 per Rs. 1000 S.A
So here S.A = 5,000,00 , then Bonus for 25 years = (5,000,00 * 48) / 1000 = 24,000 * 25
= Rs. 6,000,00
Total amount = S.A + Bonus + ( some final bonus which i and my friend are not sure )
= 5,000,00 + 6,000,00 + Final bonus = Rs. 11,000,00 +
This is the calculation that has been shared sir. Is this the above calculation correct for my policy enrollment. 🙂
Thank you ..!!
Ashutosh-Yes, it is correct. But have you ever thought how much % of return you recived from this investment? It will be less than 8%.
Yes Sir. The % of return on investment is less than 8 %. Could you please guide me about any plan which can have good % of “guaranteed” return.
Thank you for the clarification. 🙂 Really it is a great help from you . 🙂
Asutosh-Again do not commit a same mistake by asking me a good % of guaranteed return. First understand your requirement like when you need or how much you need then finally go for product selection.
Sure Sir.. Thank you so much for all the valuable information that you shared. I will have a analysis before i go for any product . And for any query, I will keep posting. Thank you once again. 🙂
Hello Sir,
I have gone through your comments and I am sure you can help me with my investment.
I have Rs 50,000 cash and wanted to invest in Insurance policy with Good returns. I have gone through the LIC website, its all confusing. Can you suggest some policies wherein I can invest?
Sanjay-Insurance policy with GOOD RETURN is not possible. However, if your definition of GOOD RETURN is around 5% to 6%, then go ahead and invest in LIC Policies.
Dear Sir,
I have bought LIC policy 1997.
The Plan Term – 91/20
DOC 15.05.1997
Policy Amount Rs. 25000/-
Premium (Half yearly Rs. 631.00).
Can you guide when it will mature and how much amount i can get approximately.
Thanks & Best Regards,
Murali
Murali-Please calculate yourself by reading above post.
Thanks for your quick response
Total paid amount is 631.00 x 2 x 20 = 25240.00
I can get the above said amount (or ) It will double.
Regards,
Murali
Murali-In this plan you get Sum Assured+Accumulated Bonus.
Sir,
I am new to LIC policy. I have bought money back policy. The agent said i have to pay 12300 half yearly. The payment needs to be continued for 20 years. He also said i will be getting some % of amount every 5 years. The policy amount is 4 lacs. How much returns will i get after 20 years sir? Any further details required apart from these?
Thanks & Regards
Gaudham
Gaudham-Why the question after buying? Why not you did the same research before buying? Returns will be around 5% to 6%.
Hi,
I am paying Rs. 31,250 annually for Jeevan Shree (112) since 2003. Sum insured is Rs. 5,00,000. I am really keen to know what would be the amount at maturity in 2027-28. I am not sure what parts of GA, LA and FAB s my policy qualified for. Can you please shed some light on it for me. I am overseas and my policy documents are in India so cannot refer to them. Your expert help will be greatly appreciated.
Thank you,
Nihal.
Nihal-It is no special product. Just a typical endowment plan with first five years GA then normal bonus. So you can expect around 5% to 6% return.
Hello Sir,
I have taken a LIC Endownment Plan (table no. 14) in 2010 at the age of 28. There are 7 policies, each sum assured 2,00,000 and term is 20, 22 , 24, 26, 28, 30 and 32 yr with total premium of 50k yearly.
I have below queries:
1. which bonuses are applicable to my policies at maturity? (from above GA, LA, FAB)
I can see only vested bonus online. Can you please help me to calculate maturity amount?
2. how surrender value is calculated in this case as i have paid 5 premiums?
3. Is it ad visible to surrender theses policies and reinvest the money to get better returns?
Your advise is valuable.
Thanks in advance!
Thanks,
Deepa
Deepa-1) You are eligible for simple reversionary bonus and FAB. By following the above method, you can calculate yourself. It is not that much difficult. 2) Please contact to LIC branch to know about surrender value. 3) Advisible to surrender if you are not satisfied with returns of around 5% to 6%.
Hi,
I have New Jeevan Suraksha I (Table no 147) policy running from 2003 onwards for a period of 31 years.
My annual premium is around 10050(Age at that time 27) . So far i have paid 12 premiums & need to pay 19 more as per policy term.
My questions are.
1) What would be the NCO amount. I don’t see any figure on the policy.
2) What would be the approximate maturity benefits?.
3) My 80C benefit is crossed by other means & this policy doesn’t help in any way. Shall i continue paying the policy OR surrender the policy. How much will be the surrender amount.
4) Reason i ask is if i invest the same amount for rest of the term in PPF i feel the returns will be much more than that, since insurance coverage is very small.
What are your opinions.
Regards
Arumugam-This is the old plan. I don’t know much about this plan.
Dear Sir,
Thanks a ton for explaining the LIC feature in short and simple understading word.
Please advise me my LIC policies are ok for me in long term benefits or i am investing too much or too less. my current salary is 50 to 70 K/- P.M and i am looking now as per future benefit for my family.
please have a look my policies.
Policy Name Premium Enroll. Date
901(Health Plus) 1,500.00/-PM 04/2010
901(Health Plus) 500.00/-PM 02/2010
196(Jeevan Varsha) 8,092.00 /- half yearly 04/2010
103Jeevan Chhaya 1,086.00/-PM 11/2012
108Jeevan Surabhi1 1,508.00/-PM 11/2012
I am also bought the LIC for my Wife (103Jeevan Chhaya (1,029.00/-PM), 108Jeevan Surabhi (1,087.00/-PM), enroll date is 02/2012.
Once again thanks a ton.
Regards,
SS
Santosh-Why you bought all these plans? May I know the reasons behind each buying?
dear sir,
1st of all, thanks for all of your articles you shared with us.
sir, my queries are:
1. about my LIC policy Jeevan Saral. I am paying 15162 half yearly and my sum assured is 625000 for the policy term of 15 years. I have started it in 2009. so how much amount should I assume to receive after maturity.
2. kindly suggest a term plan for me. My annual income is 4 lac and age is 26.. currently i am with aegon religare- iterm which provide me SA of 50 lac with an rider and premium is 4560. but this policy is in grace period as I have not renew it fearing of its Claim settlement ratio. thats why I approaches to HDFC c2p + but they rate up my policy on financial ground and reduced my SA from 75 lac to 50 lac with lesser premium (5728) .. they harassed me a lot while giving policy as well as giving reply to any mail/complaint so I decline their policy rate up. Now sir, kindly give me an solution that should I continue with Aegon religare or switch to Bharti axa or someone else.
thanks in advance.
Arun-1) Please go through below comments. You find my answer. 2) If you are not ready to pay higher premium then better to continue. Do remember that your insurance also depends on your income.
Hello sir,
I had taken a policy for my son in year 1994.
Plan 102-25.
Sum assured 50,000.
yearly premium 2226.
May you please tell me what maturity amount can I expect from it?
Do Reply sir.
Thank you.
Prakash-Plan name?
LIC Jeevan Kishore
Prakash-You can expect around Rs.1,10,000 to Rs.1,25,000.
SIR I AM A STUDENT OF BCOM LAST YEAR ;DOING JOB WITH SALARY RS 7000.WHICH IS THE BEST POLICY
FOR ME TO INVEST.I EXPECTED TO INVEST RS 1500.PER MONTH.PLEASE ALSO ASK FOR RETURN.
Rahul-what is your expectation from this investment?
Sir, the article was very informative. Thanks for sharing.
Currently I am invested in money back policy of LIC for 20 yrs, wherein sum assured is 500000/- and they return 100000 (20%) every 5th year. Yearly premium is 31292/-.
In 20th year(maturity) 40% amount will be paid (200000/-) with “accrued bonus”
1) What is accrued bonus?
2) how much can i expect to get after 20years.
3) I had taken this policy only because someone had requested. From financial angle is it advisable to hold on? Are there better policies available in market?
Please advise i am confused.
Pavan- 1) Accumulated yearly bonus (they not pay interest on this).
2) 5% to 6%
3) If you taken this policy ONLY because someone requested then it suited to his need but not to YOU.
sir please tell me calculation formula for lic premium for example my term is 20 then sum assured 100000 age 18 the calculate yearly premium formula i required formula how this calculate
Prasad-There is no formula to calculate premium on any product. It depends on many calculations which actuaries, underwriters and others do to arrive at any premium rate of product.
My Jeevan Surbhi Policy (tab.106) is going to mature on 12th May, 2015. The details are as below:-
Sum Assured:- 100000
Premim term=12 years
Maturity = 15 years
Return which i received= 30000+30000+40000.
Plz let me know what amount i will get on maturity.
Mohd-Contact nearest LIC branch.
I took lic policy jeevan annand(149) for the twenty year starting from 2011 paying 2788 HLY. how much my maturity will be .Table,term and premium paying term are 149,75,20
how much i will get after maturity.
Bilal-Read below comments and you find your answer (returns will be around 5% to 6%).
I try but didn’t .kindly give it here. what you mean by 5 or 6% kindly give reply in details
Bilal-It is return on your investment you did.
Thanks for saving me and many B 🙂
I am planning to insure and invest 35,000/year for my family, please advice me that my below direction is correct.
For investment i am planning to put 30,000/year in PPF (rate of interest is 8.75%) and hence at the end of 15 years i will get nearly 9 lacs .
And for insurance i am planning to take ICICI prudential term insurance (30 years) for 50Lacs at rupees 5500/year so if something goes wrong in next 30 years for me then my family will get 50lacs. Also i am not a smoker.
Both the above will come under 80C and hence i can save my tax also.
I am not sure whether my direction is correct so please advice me your thoughts, please.
Thanks for your time!!!
– Sabha Mahadevan
Sabha-Don’t put all in PPF. Instead keep major portion (if your goal is more than 7+ years) into equity mutual funds also.
Hi,
my policy details :
Premium : 3218
Sum Assured : 200000
DOC : 04 Jun 2008
Plan :149
Term : 74
mode : QLY
If i surrender the policy now then how much money I will get. Can you plz help to calculate the receiving amount.
Thanks in advance
Ritesh
Ritesh-Contact LIC office.
Thanks Basa …
Will check with them.
sir,
may I know the Date backing for LIC new Jeevan anand (815) policy? my DOB is 20.07.1984. can I date back the policy, ie, Commerment date as July 2014 ? please reply.
Thanks & Regards
karthik
Karthik-I am not sure about this facility. Suggest you to ask LIC branch.
Hello B,
Your posts are really awesome and very helpful, thanks and congrats for doing such a service!!!
I am 29 and planning to put some LIC endowment plan(16 years) to cut my tax under 80C.
My agent said the below details,
24,000*16years = 3,84,000 SumAssured
Finally at the end of 16th year i will get nearly 10,59,840, he said. Can i believe his words?
Sum assured (A) = 3,84,000
Revisonary bonus (B) = 60/1000*16*3,84,000 => 3,68,640
Final Additional Bonus (C) = 800/1000*3,84,000 =>3,07,200
Total return after 16 years is A+B+C = 10,59,840 rupees
Will i really get 10,59,840 rupees after 16 years? I cannot able to believe his words and hence i am writing this, Please respond ASAP.
Thanks in advance!!!!
– Sabha Mahadevan
Sabha-First let him show the plan which provides Rs.60 bonus every year 🙂 His all calculations are exaggerated to lure you. Do you feel LIC endowment plans are best choice to save tax? What about your financial goals? For sake of tax saving, are you ready to scarify your goals? Think and decide, because it is your hard earned money.
Thanks for saving me and many B 🙂
I am planning to insure and invest 35,000/year for my family, please advice me that my below direction is correct.
For investment i am planning to put 30,000/year in PPF (rate of interest is 8.75%) and hence at the end of 15 years i will get nearly 9 lacs .
And for insurance i am planning to take ICICI prudential term insurance (30 years) for 50Lacs at rupees 5500/year so if something goes wrong in next 30 years for me then my family will get 50lacs. Also i am not a smoker.
Both the above will come under 80C and hence i can save my tax also.
I am not sure whether my direction is correct so please advice me your thoughts, please.
Thanks for your time!!!
– Sabha Mahadevan
Dear Sabha,
Thank you for your interest in ICICI Pru Life. If you need any details on our term plans, you can fill your details here http://bit.ly/iciciprulifetermplans and we will have one of our experts contact you to assist you with your queries.
Regards,
ICICI Prudential Life Insurance
Hi,
I have a Jeevan Anand (T. No. 149) plan. Policy Term 73 (Premium Payment term: 24) taken in 2005.
Premium is 34190/- paid yearly.
Sum assured is 8,00,000/-
Vested Bonus: 331200/-
I’d like to know what is the amount receivable if I were to pass away before 2029. Subsequently, what is the amount thereafter.
I’ve been reading conflicting views on the same and would like to have some clarification.
Would appreciate if you can help in this regard.
Many thanks,
Sam
Sam-What conflicting views you came across?
I’ve heard that LIC does not actually give you the whole amount. That you have to re-invest with them. Would appreciate if you could let me know the amounts. Thanks.
Sam-What amount?
Never mind. You don’t seem to understand my first post at all.
Sam-Is it? Or proper meaningful lines missed from your end ? 🙂
You ask what amount? Obviously, I’m asking about the amount receivable on maturity. It’s mentioned in my first post. Instead of asking questions aimlessly, why don’t you try helping out? And yes, forgive me if my queries are not accurate/do not contain the right terms. You see I’m not a Certified Financial Planner by qualification.
I asked for some help. If you’re not up to it, it’s cool.
Sam-Why so arrogance? I receive daily many mails, comments and personal calls. If I miss few then it human error. Hope you understand.
Dear Sir,
I Had a Jivan Anand Policy.
Purchased in 2012 ( at the age of 23 year )
Policy Amount : 200000/-
yearly Premium : 10311/-
Policy term : 21 year
Please tell me how much return i can Expect after 21 year????
Hi,
I have a money back policy dated : 28/03/12 of 200000/-. I would like to know that i am paying it qty i.e 3217/- ( i.e yearly 12868/- so for 20 years i will be paying Rs .257360/- . Now out of which i will get 40000 +40000 +40000 for 5 + 10+ 15 years i.e 20% of SA , and remaining 40% for 20th year + vested bonus…… so i will receive around 200000 only + v.b , but il be paying Rs. 257000/-. Loss of Rs around 57000/- ….
Sonam-What about vested bonus? You not considered that.
I purchased a money back policy (table-75) in 2011 for 20 years with quarterly premium of Rs 6485/-. Sum assured for the policy is 400000/- under money back of 4 installments i.e. 20%, 20%, 20% and 40%+ vested bonus.
My query is for the vested bonus. How much it will be at the maturity of my policy…?
Please reply.
Thanks.
Ajay-May be around Rs.4,00,000 (it is approximate value).
Hi Basu,
Any idea where I can find the FAB rates of LIC, I can’t seem to find them online.
Also, I read online (in a 2012 circular) that for 35 years term the FAB is 2200/- per 1000. So for a SA of 10L that comes to a bonus of 23L – that seems way tooo much, if you ask me…
Raja-Why you are so fond of FAB? Also please check your data, I think it is wrong. Rs.2,200 per Rs.1,000 SA????
Hi, Yes that’s so so very confusing! 2200 per 1000 SA. I can send you the link from where I got it if you want…
Raja-Sure… 🙂
Hi Basu,
Thanks for getting back to me…
Attached is the link I was referring to . Notice on the right side it mentions that for 35 years term the FAB is 2200/- per 1000. I tried some online maturity calculators as well and it mentions that the return from FAB is 23L (2300 * 1000).
Can you let me know what I’m missing here, am I reading the article wrong? How is it that I calculate the FAB bonus as so much?
http://licalipuria.net/userfiles/BONUS%20CHART%20%202012.pdf
Raja-It is exaggerated value shown by some agents. Believe on reality and check LIC site.
Basuji
Above FAB rates are correct
for 15 years Rs 20/- for 20 yrs 70/- 25 yrs 450/- 30yrs 1100/- 35 yrs 2300/- and for 40yrs 3550/- per thousand and it is paid on only maturity or death.
for example policy of Rs 10 lac for 40 years term then final addition bonus is Rs 35,50,ooo/-as per todays rate,actualy it is paid as on maturity date (what ever rate increases and it is fact rates are increases every 10 years 3 times)with sum assured and revisonery bonus and interiam bonus
ie toatal maturity is 65,18,000/- Sum Assured 10 lac + Bonus Rs 19,20.000/-(48 X 1000)+Interiam bonus Rs 48,000/- + Final Additional Bonus Rs 35,50,000/-
Prashant-Then can you provide me the return on this investment?
dear sir
I want the know regarding application for double accidental benefit. last 6 month ago my elder brother die to accidental by unknown truck till date case is open we get single claim from LIC . when we going for double accident benifit documents to LIC department they always taking about the written application form police station verification regarding accidental death but police station person we have already written in FIR please help for application which we return as document for death due accident.
i just want only application which we return for lic dept for double accident benefie
Hi Sir, i have been paying a endowment plan for past 10 years and its maturing this year
As per LIC agent they amount received will be apprx 13 lakhs(which was a 10Lakhs plan)
He had promised 18Lakhs plus earlier and now he says its not true
as there is document, what shall we do
and advice if its correct?
Sudhesh-Document of proof that you get Rs.18 lakhs??
NO, there is no proof from LIC
AGent had promised many things and now im stuck as i have 7 policies running with him
Now for 10 Lakhs policy return as per document by end of the year is 13Lakhs
But even when hes promised…its not true right? it was a fake confirmation ?
Sudhesh-Yes whatever he claimed is all false. It you who must now learn about your money and stay away from such agents.
Sir i am holding a jeevan anand policy and its yearly premium is rs 1200/- . now i have paid premium for 3 years and i want to surrender the policy. how much money will i get back
Sami-Contact your LIC branch for the same.
sir i have taken a Jeevan Shree 1 in 2001. it will mature in 2026. sum assured is 500000. what will be the maturity amount approximately?
Ravinder-You can check the same with LIC branch.
Sir,
I have a LIC Policy named JEEVAN ANAND. Its details are as follows: –
Annual Premium – Rs. 82,015/-
Sum Assured – Rs. 10,00,000/-
Accidental Benefit – Rs. 5,00,000/-
Tenure – 16 Years
Now, my questions are as follows: –
1) What will the amount that I will receive at the end of tenure of 16 years???
– As per the LIC agent who gave me such policy, I will get a sum assured of Rs. 10,00,000/- plus a bonus of Rs. 8,00,000/- plus some F.Bonus of Rs. 60,000/- which totals to Rs. 18,60,000/-. Further, he states that this policy covers lifetime risk & so my family members will be AGAIN receiving a sum of Rs. 10,00,000/- after my death, which totals to Rs. 28,60,000/- against my investment of Rs. 13,12,240/-. SO IS HE RIGHT, WILL I GET A BENEFIT OF RS. 28,60,000/- AGAINST MY SUCH INVESTMENT OF RS. 13,12,240/-??
2) What is the reason that the LIC Department do deduct the amount of 1st premium at the time of paying surrender value?? Is it so because the policy holder is not liable to pay the very 1st premium & such liability is of the LIC agent or for some other reason??
3) How can I get to know the details of BONUS VESTED, for such policy, till yet, into my LIC Account?
4) Can I withdraw such amount of BONUS VESTED till yet, in order to invest such amount in any other option so as to get a better return on such BONUS Amount?? Or do I get any benefit if I do let such BONUS amount with the LIC Department??
5) Am I missing with any benefits which I should receive but I am known about it ??
So, PLEASE GUIDE ME…..as it is URGENT
PLEASE……………….
Amit-1) It will be around 6%. 2) It is based on IRDA formula. The only reason is not to promote any surrender but to continue. 3) You can check it online by creating login to LIC site or visit nearest branch to know more. 4) You can’t withdraw. It will be kept there for the next 16 years only adding each year’s bonus. But no interest on this amount. 5) Unable to understand what you are asking.
Hi Sir,
I have taken new Bhima Gold (T.No. 179).
Total Monthly premium is 3051.
Tenure 16 years.
Sum Assured – 700,000.
Can you please tell me – is this beneficial? What will I get in total at the end of 15 years?
I will get 105000 at the end of 4th, 8th and 12th year. That makes a total of 3,15,000. At the end of 16th year – I will get the remaining 55%. Which means – I am getting back the total amount I am putting in – correct?
What is the funda on the bonus calculation? Request you to please explain.
Thanks.
Siddharth-I answered it so many times and will answer once again that returns will be around 6%. Bonus calculation is explained above.
Dear LIC,
I got a New Bima Gold Plan taken on 2011 for 20 yrs. And the premium is 29800 pA. SA= 800000. So could you please tell me what will be the return on maturity time which I can expect from LIC?
And please mention ASAP !!
Debashish-This being the typical endowment plan, you can expect around 6% return.
So the expected amount will come round off 10-12 lacs in maturity? do you think so? BAsu
Debasish-Point to be noted is return (6%) but not amount. If you are very much happy with kind of return then go ahead.
Hi Basavraj,
I am an avid reader of articleson your site basunivesh and find it really helpful. Thanks to guys like you, Ashal Jauhari,Manish Chauhan thousands of professionals like us are been shown the right path.
I wanted some assisstance regarding my investments.
I am a merchant navy professional age 34 yrs with annual income of 30 lakhs and i do not have tax issues as i complete my NRI days every year.My wife doesnt work30 yrs old and I have a daughter who is 2.5 yr old.
I have a term cover of 50lakhs which i plan to increase to 1.5cr…planning to buy LIC Amulya Jeevan for 1 crore. I have PPF a/cs in my and wife’s name and i am putting 3 lacs(1.5 lacs each).
I have equity exposure with SIPs around 15000 p.m. Direct stocks around 4.5 lacs.
MF exposure about 10 lacs(accumulated by existing SIP’s).
I plan to increase SIPs in MF’s to around 35000p.m.
My monthly expenses after accounting all insurance premiums, home loan EMI et..etc comes to 160,000.
I can still invest around 40k.
When i told this to my LIC agent he suggested I take a endowment plan wherein my premium would be 193000and insurance cover of 1 cr approx. and would get 1cr at 60 yrs of age.
The premium of my Jeevan Amulya plan is around 53,000 anually. This includes around 25,000 extra as I work on oil and gas tankers and risk associated to the job.
Should i go for endowment plan or the term plan..
Kindly suggest other avenues of debt investment other than PPF and post office
Kindly suggest if 35000p.m in SIPS is ok or should i increase .
Is LIC endowment policy as a debt investment a bad option??
Would u suggest me anyother avenues forinvestment or should I increase my equity exposure. I have a long term view atleast 5-7 yrs and have moderate risk appetite
Thanx in advance
Sunil-Do you still feel endowment plans are too good? Choosing debt, equity or other product must align with your goals. Again in debt category your investment a lot of time must match with debt fund’s style. So hard to specify any one particular product plainly. Rs.35,000 enough or not again depends on your goal time, return you expected and the goal amount. So it needs calculation which how can I say is enough or not. Yes you can consider LIC endowments as debt, but at the same time I am a strict NO category person to such products.
Dear Sir,
Sir, I want to have a health plan on my life, my wife and my son. Is jeevan arogya of lic a good choice. I have observed that LIC does not figure in the elite list of Health insurance provider in your blog( based on IRDA report). I am a resident of rural area where LIC is the only operator- be it life or health- so I am putting my bet on LIC but would welcome any suggestion from your end . Thanks a lot Sir.
Biplob-LIC’s plan is a typical investment+insurance+health benefit product. But not pure health insurance product. So I have not listed. For your information Health Insurance will be provided by general insurance companies but not life insurance companies. Discuss with your agent how the claims will be settled and how LIC health insurance is different with general insurance health insurance companies, then you notice the difference. Rest is left with you.
It is never wise to advise any policy holder to discontinue his insurance policy if the policy has continued for 3 years and has qualified for section 80 c, which is very vital aspect of life insurance. I am an LIC agent and often come across people who would like to discontinue their policies bought from pvt insurance cos on the ground that LIC has impressive claim settlement figures, but I warn them- you have qualified for sec 80c and hence, you are in safe zone. I trust this info proves useful to all. Qualifying for section 80c is the greatest feat for any life insurance policy.
Joydeep-Sec 80C is vital aspect or insurance coverage to one’s life is vital? Wow….what do you mean by qualification to be eligible to Sec 80C?? How sad it is that selling can also be done through this message.
Dear Basav,
Merely purchasing an insurance policy to ensure financial security of loved ones does not mean that ‘ my job is over’. When a policy runs for > 3 years from date of acceptance of risk , the policy is eligible for hassle free claim payment.- this means the policy holder has qualified for sec 80c of insurance act 1938. Hence, when I see that a person has got over the 3 year barrier – I advise him not to discontinue and trust the insurer. I think you deeply understand the sec 80c of insurance act 1938. Will be more benefited if you throw more light on this. Thanks.
Oh it’s not sec 80c but sec 45 of insurance act 1938
Joydeep-How your selling motto is more towards Sec.45 of Insurance act? Can you elaborate more what this sections deals and what are implications on one’s life insurance??
Joydeep-Why your concentration more towards Sec80C rather than insuring a family? Do you know with current changes in EPF rules, one can easily fill it up Sec.80C with EPF, PF, Term Insurance or any other short term goals related investments like FDs.
Sir, is the New Bima Gold(179) a with profit policy?
Bappaditya-Yes it is with profit plan.
Hello Sir, I have Jeevan Anand policy since 5 years and i have been paying premium . I have now moved to Singapore(most probably for long term), Is this policy still valid for me ? do i need to inform/update my whereabouts to LIC ? Am i still covered under this policy. Thanks in advance
Saurabh-Yes you are still covered under this policy and no need to inform.
Hello, we bought Jeevan Dhara (old) policy and it ahs matured and started getting annuity payments for the same every month. Is it possible to exercise the Notional cash option on this policy once it has started paying annuity payments? Also, I have another Jeevan Dhara policy which is yet to mature and also Jeevan Suraksha policy which is also not yet matured. Can you please advise if it would be better to exercise notional cash option on these or get the annuity payments till life and after death return of principal? Also, how can I know what is the principal component in each monthly annuity installment I am getting? Your article is very informative.
Thanks and regards, Aparna
Aparna-I don’t think you can exercise the NCO for the policy which is already paying you. But to rest of policies you can do so. Whether it is best or not depends on your financial requirement. First understand whether such pension makes you to sustain for life long?
Hi Sir,
I’m planning to take LIC Policy(New Jeevan Anand).I need more details about this policy.
Thx,
Manohar
Manohar-It is available here “LIC’s new plans 2014-New Jeevan Anand (No.815)“.
Dear Basu , I have taken Komal jeevan policy T.No-159 . Year-2005 . When I checked for Vested Bonus it is showing Zero .
1 lac is sum assured , Half yearly premium.
Please may I know whats the reason ?
Siddalinga-Komal Jeevan is a policy which have no bonus but guaranteed addition. So no need to worry about this.
Dear sir,
I have a Jeevan Komal Policy 2 lakh sum assured since 2007. (7 premiums paid) Is it wise to surrender the policy before the commencement of risk ie before 7th birthday of child. I will get 90% of all premiums less fist premium. I can invest this in SIPs so that I get a good money after 11 years. Very late i realized that i get the final maturity amount after 26 years.
Janu-First understand yourself how much loss you can bear and whether such loss can be accumulated by investing in other instruments. Then only proceed for cancellation. In my view it is better to continue as you already completed 7 Years.
Hello Sir, I have chosen Jeevan Anand last 2 year. I am now 28, and made a decision to invest nearly 36000 per year on this policy on guidance with some agent and he is regretting for the same. so I want to know that which type of profit & how many rupees gain after complete my maturity,
policy- jeevan Anand, Policy Term: 16 years ; Sum Assured: 5,00,000 ; Premiums Paid: half yearly ; Premium Amount: 17774.
Kindly guide us a best option here.
Thanks
Sudha-Now you have three options-Surrender it after 3 years (you may loose some portion of what you paid already), paid up (no future premium payment, but you receive the amount at policy maturity only) and third option is to continue till end get the return of around 5%. Decision is left with you.
how many rupees gain after complete my maturity
Sudha-If we consider 5% return then it will be around Rs.8,40,000.
Hi Sir How r u
I Buy one Education LIC policy here in Dubai in 2009 for My Son its a 5 Years plan & Sum assured Rs, 226,850/- I Paid until Jan 2014 now the policy payments are over, as per the policy documents we will get back between 18 to 22 Years each year 20% and on 23rd Year he will get bonus I would like to know how much bonus he will get?
Thanks & Regards
Maqsood-I am not aware about bonus values which LIC pay in Dubai.
Hi,
In PPF can I withdraw my whole maturity after 15 yrs.
Eg In 2014 Starting invest rs.30000/yr,
After 2029 The maturity will be around 9 Lac.Then Can I withdraw my whole maturity and close the PPF account?Will am be able to do so?
Pls answer me
Harpreet-Yes you can do so.
Hi Nivesh,
This is Imran here, age = 36 yrs (1978). I am an NRI & live in Kuwait (Middle East).
I have taken JEEVAN SARAL Policy in Aug 2013 through an LIC Agent in Hyderabad. That’s the only policy I have & nothing else.
The agent said you will get around 44 lakhs if you invest 60000 per year for 21 years. He showed me the chart that agents normally show to other people to lure the customers like if you invest some X amount you will get some Y amount back from LIC in Z no. of years & so on? Is this true?
Policy details are as follows:
Age = 35 yrs when this policy was taken Aug 2013.
JEEVAN SARAL 165 (With Profits)
Policy Term – 21 years
Premium = Rs.60050 yearly payment.
Premiums Paid – 1 (Aug 2013-July 2014)
Sum Assured = Rs 12,50,000
Maturity Sum Assured = Rs 13,93,200
Death Benefit Sum Assured = Rs. 12,50,000
Accident Benefit Sum Assured = Rs. 12,50,000
Date of Commencement= Aug 17 2013
Date of Maturity = Aug 17 2034
I have gone through your site regarding the questions that people have asked & I am happy there is someone out there like you to answer the questions.
Questions:
—————————-
1. As an NRI, which insurance policy or investment or mutual fund should I invest the money in, which gives good & high returns? I am new to this kind of stuff.
2. What is a Term Insurance Plan & Risk Coverage?
3. Have I taken the right LIC Plan or made a mistake? Is the money too much for this policy?
4. How much Loyalty Addition will be added to the policy after 21 yrs ( 6% or 10%)?
5. If I surrender the policy say after 5 yrs or 10 yrs how much amount am I going to get? Should I opt out the plan or continue?
6. Should I take a health insurance plan as well & which is the best?
7. I have a son aged 1 yr 6 months, which plan or investment is best for him to take so that his future is secured?
Kindly advise me. I need your guidance in this.
Thanks & Regards,
Imran
Email: [email protected]
Kuwait
Imran-What your agent showed you as return are actually indicative returns but not actual.
1) Investment usually depends on goal you have. So choose a product based on time frame of your goal.
2) Term insurance is pure risk coverage plan.
3) To be frank you made a mistake. Because return from this policy will be around 5%.
4) I already answered.
5) Better to discontinue after 5th year. Return will be marginal.
6) Health insurance plan is most equally important like term insurance. So buy it.
7) As I said above, suggesting a product involves lot of data sharing from you and a proper planning process. Hence unable to guide you at this juncture.
Hello Sir, My Dad has chosen Jeevan Anand by mistake last year. He is now 65, retired and made a decision to invest nearly 50,000 per year on this policy on guidance with some agent and he is regretting for the same. Here are the policy details and we are looking to surrender this next year as we need to pay premiums for at least 3 years for surrender. Could you please let us know an approx. Surrender value and any guidance you can give us?
Policy Term: 10 years ; Sum Assured: 3,00,000 ; Premiums Paid: 2 ; Premium Amount: 48,472.
Kindly guide us a best option here.
Thanks,
Madhan.
Gopal-Contact LIC branch they will guide you in better way.
Thanks
Hello sir,
Appreciate the great work you are doing.
I have two LIC policies
1. Rs 17000 PA for 20 yrs . sum assured is 375000. Maturity date is 2028. How much can I expect at the time of Maturity?
2. Rs 25000 PA for five yrs ( 2011 – 2015). Sum assured is 250000. How much return can I expect in this policy and
when can I withdraw the amount .
Siva-How much your agent told while buying?
Hello Sir,
I want to know about ELSS.
1.In ELSS how to invest and when?
2.Is it safe?
3.What will be the return?
4.Can anyone invest in it?(Like,Farmers,Individual, Students)
I i invest 10000 in it, then how much will I get in WHAT period…..?
Pls answer…
Thanx in advance…….
Malkeet-ELSS means equity investment attached with tax benefit. So if your time horizon is more than 7+ years then definitely you can test. I think I answered your first, second and third question. Yes the basic investment requirement for mutual fund applies to ELSS too. But do remember that it is tax saving tool.
Dear Sir,
Thanx v much for ur suggestion.
Now I want to take NSC for 10 yrs worth rs. 50000.
After 10 yrs the maturity will be 234350 at rate 8.70%.
It gives high return.
My question is that If I have to invest only once at opening or year wise?
And who can buy this product?
Pls suggest…
With warm thanx…
Sorry sir, investment is 100000 instead of rs. 50000…
Malkeet-It is one time investment. So obligation to invest from next year. But you are free to invest any amount the next year too. Anyone individual can buy this.
HELLO SIR,
I am non working…. pls give me the suggestion to choose policy with
high return with bonus… I am confused to choose the policy. I can pay 5000 to
7000 half yearly and I want Rs. 8 to 12 Lac in 15 to 20 years.I am 27 yrs old.
With thanx…