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LIC’s new plan Jeevan Shagun Single premium, multiple benefits, Ghaziabad in Ghaziabad, Uttar Pradesh

Financial

It is non-linked, with profit, single premium and money back policy.Who are eligible?Minimum Age at entry 8 Yrs.Maximum Age at entry 45 Yrs.Mode of Premium Payment only Single.Minimum Maturity Sum Assured (MSA) is Rs.60,000.No maximum MSA limit.Policy Term is 12 Years only.
Mode of Payment is Single.Whether to buy this plan or not??This is typical non-linked traditional plan. Let us consider a person aged 25 Yrs and planning for Rs.1,00,000 MSA. So he need to invest Rs.52,803. After 10th year he will receive Rs.15,000 (15% of MSA). We re-invest this for two years to match with maturity at current SBI FD rate of 9%. 
This will fetch him Rs.17,821 (at end of 12th policy year). After 11th year he will once again receive Rs.20,000 which we again re-invest but for only one year at same current SBI rate for 1 Yr. This will fetch him Rs.21,800 (at end of 12th policy year). So overall return will be Rs.17,821 (10th year MSA%)+Rs.21,800 (11th Yr MSA%)+Rs.65,000 (65% of MSA)+Rs.30,000 (LA @ Rs.300 per Rs.1,000 MSA)=Rs.1,34,621. 
Return on investment will be 8.11%.Assume the same Rs.52,803 invested in Bank FDs at current SBI FD rate 8.77% for 10 Yrs (maximum tenure available for FDs). At the end of 10th year return will be Rs.1,22,445. If the same is invested in SBI FD for another 2 Yrs (to match this plan tenure of 12 Yrs) at current rate of interest at 9% then the maturity value will be Rs.1,45,476.

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