Hello Friends,
I have query upon ULIP related to "Reliance Life Insurance - Highest NAV Guaranteed Plan", i heard that the sum assured is Rs. 200,000/- and the premium payable is Rs.20,000/- for 10yrs period. At the minimum one must pay premium for 3yrs i.e., Rs.20,000/- annually. I also heard that one can withdraw from the scheme before maturity but only after a minimum of 3yrs. At present Reliance NAV is Rs.10/- per unit. I also heard that if a person invests in this and withdraws after 3yrs then he is guaranteed a min. of Rs. 3lacs to 3.5lacs. So i want to know that on what basis this 3 or 3.5lacs is calculated ? Suppose if one invests Rs.200,000/- for 10 yrs by paying Rs.20,000/- annually then how will he get the amount more than what bank gives ? Please explain me this if you have invested or known such type of plans...!!
Thank You..!!
CAclubindia
