LIC Jeevan Rekha is a Money Back Whole Life plan. It pays 10% of basic sum assured every 5 years as survival benefit. It also pays annual reversionary bonus, which once declared becomes guaranteed. Getting your money back when you do not need it actually erodes your capital invested. It does not make sense. It has paid annual bonus of 3.4% since 2006-07 which is too low as return. This plan does not disclose expenses and charges and bonus declaration is at discretion of the company. The life insurance cover is also very small.
You should consider buying a term plan for your life insurance need.
Try to keep your life insurance and investment separate in future. Always opt for a term plan to buy a life insurance cover and invest in equity mutual funds to achieve your long-term financial goals in life.
Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015
1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
3. IDFC Tax Advantage (ELSS) Fund
4. ICICI Prudential Long Term Equity Fund
5. Religare Tax Plan
6. Franklin India TaxShield
7. DSP BlackRock Tax Saver Fund
8. Birla Sun Life Tax Relief 96
9. Reliance Tax Saver (ELSS) Fund
10. HDFC TaxSaver
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online
Invest in Tax Saver Mutual Funds Online
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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