Lic's - Jeevan Versha

LIC’s Jeevan Varsha is a close ended Money Back Plan with Guaranteed Additions. The plan provides for periodical payments of a proportion of Sum Assured at specified durations, on survival during the term of the policy and on maturity. The Plan provides for payment of Sum Assured on death. Guaranteed Additions are payable on death and Maturity. Loyalty Additions may also be payable during the last year of the policy on both maturity and death.
The plan will be open for purchase from 16th February, 2009 to 31st March, 2009.

For more Details :

http://justyourmoney.blogspot.com/

Comments

Unknown said…
This comment has been removed by the author.
March 11, 2009 at 6:25 PM
Unknown said…
LIC Jeevan Versha
It’s very expensive plan ever introduced by corporation. You have to pay yearly premium of approx 80,000 Rs for risk of 5 Lacs for continuously. Returns are also so poor as there is guaranteed bonus of Rs 65 per thousand per year is declared. As you have to pay 1,44,000 (approx) for a sum assured of Rs 1 Lac, you will get a 15000 on 4th year, 25000 on 7th year and on Maturity i.e. on 10th year you will get 60000 along with pre-declared bonus of Rs. 58,500, and loyalty bonus. In the history of LIC maximum loyalty bonus declared was Rs. 150, for plan Jeevan Shree (Min Sum assured Rs. 5 Lacs & term was 25 yrs) & for this plan the maximum Loyalty bonus may not exceed Rs. 30, important thing about Loyalty bonus is, this bonus is only payable on last year or maturity of policy even in death case. God know why LIC persons are marketing for loyalty bonus of Rs 300 for 9ys and loyalty bonus of Rs. 500 for 10yrs. So your maximum maturity amount on tenth year will be 1,22,500. You are getting Rs 162500 by paying Rs. 144000 in ten years. It’s proves LIC is perusing back its policyholders. Also there is no Accidental Benefit in this plan. It is not an insurance plan, nor any Investment plan, that’s why it is close ended with its expiry date 31st mar 2009. The overall return of guaranteed bonus of Rs. 65 comes to about 2% per annum, then what about other plans. If you have already invested in this plan so my request is to use cooling off option and save your money. One last but not least LIC’s money plus, LIC has disinvested thousands of corers of country even after 2 yrs it can’t cross its bid price of Rs. 10. It’s an nightmare to all the policy holder.

So my friends
Don’t disinvest your hard earned money, and not let its flow like Rain (Versha) water.
March 11, 2009 at 6:28 PM
Gaurav said…
Thanks for this helpful blog...but can you please brief me about investment insurance plan
June 15, 2015 at 4:12 PM
Unknown said…
Thanks for this helpful blog...but can you please brief me about Investment Insurance Plan
October 7, 2015 at 7:33 PM
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