Any LIC policy which can pay 3-5 cr after 15-20 years

I would like to know if there is any such LIC policy which can give 3-5 crores after 15-20 Years from now. My age is 39 now and my salary is 35k in hand and I am single unmarried and not interested in marriage and all. So I want to know if there is any such policy available or anything close to that. Experts and ppl who already have it plz provide your suggestions or comment
 
I would like to know if there is any such LIC policy which can give 3-5 crores after 15-20 Years from now. My age is 39 now and my salary is 35k in hand and I am single unmarried and not interested in marriage and all. So I want to know if there is any such policy available or anything close to that. Experts and ppl who already have it plz provide your suggestions or comment
How much is your expenses for month ?
 
Why looking for LIC policy only ?
Zindagi ke saath bhi, zindagi ke baad bhi.

As of now, i would suggest you take a TERM policy for 2 cr , for which premium will be 10k per annum or so. And invest in PPF for 15 years, atleast 50k per year or 4000 per month, compounded returns will be good. - approx ₹. 14,66,214.00 at end of 15 years (total investment at 50k per year = 7.50 lacs) after 15 years return will be 15 lakhs.

And also invest in mutual fund by way of SYSTEMATIC INVESTMENT PLAN.
As of now investment in lic money back or endowment policy is negative return.
 
Zindagi ke saath bhi, zindagi ke baad bhi.

As of now, i would suggest you take a TERM policy for 2 cr , for which premium will be 10k per annum or so. And invest in PPF for 15 years, atleast 50k per year or 4000 per month, compounded returns will be good. - approx ₹. 14,66,214.00 at end of 15 years (total investment at 50k per year = 7.50 lacs) after 15 years return will be 15 lakhs.

And also invest in mutual fund by way of SYSTEMATIC INVESTMENT PLAN.
As of now investment in lic money back or endowment policy is negative return.

I have already started investing in PPF 1.5 lakh a year since past 3 years. When u say Term policy of 2 crores does that mean that I will get that 2 crores after certain amount of years. Also which term policy is the best with an actual preemium of 10k or slightly above then that which is good and can outperform in the long run according to you
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Why looking for LIC policy only ?

I can look for other options also if suggestions are provided with proof
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How much is your expenses for month ?

Currently 15k a month. I eat whatever i want. The best thing is I don drink or smoke even after working in a call centre since past 15 years.
 
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Sir term policy means benefit will be only if death occurs. It is for 1 year term and every year premium has to be paid. Go to lic.com and you will find a calculator which will help you.
 
Sir term policy means benefit will be only if death occurs. It is for 1 year term and every year premium has to be paid. Go to lic.com and you will find a calculator which will help you.

I mentioned what I need exactly. Since you havent I will mention it again "I would like to know if there is any such LIC policy which can give 3-5 crores after 15-20 Years from now". After my death i wont come from heaven to come and collect. i need this when I am alive
 
I mentioned what I need exactly. Since you havent I will mention it again "I would like to know if there is any such LIC policy which can give 3-5 crores after 15-20 Years from now". After my death i wont come from heaven to come and collect. i need this when I am alive
You missed the last line - lic is negative return now. Think of other investment avenues.

You are 39 years old, bit too late in the day to invest in LIC. And they way this govt is destroying LIC, one can forget hefty bonuses that policy holders used to get each year.

I also told you to logon to lic site and use the freakin calculator. You want to be spoon fed? I have given you basic information.
 
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I have only one advice for you: Don't mix insurance and investment. LIC is a very bad instrument for investment.

For sake of answering your question, yes, there are LIC plans which can give you 3 crores in 15 years. LIC Jeevan Anand can give you 3 crores at end of 15 years with monthly premium of Rs. 223369 (2.23 Lakh).

However with your salary, they won't issue you the policy. I would suggest you to start with basics of personal finance.

1. Buy a pure term insurance online. Go with company you are comfortable with. HDFC, ICICI, Max Life etc. all have terms plans to choose from. Generally they issue you policy with sum insured 22-26 times of your yearly salary.
2. Buy a health insurance. You might have one from your current employer, but having a personal one is advisable. More you delay in this, higher would be premium.
3. Accumulate an emergency corpus of 9-12 months expenses in bank account, Fixed Deposits or Liquid Mutual Funds.
4. Calculate how much corpus you will need for retirement. Start saving for that using instrument of your choice. You can use Mutual Funds, PPF, FD for debt and equity component.
5. Finally, try to become financially literate. Start by joining Asan Ideas for Wealth group on Facebook.
 
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Guys looking for similar planning.
Till date whatever I earned was utilized towards regular expenses and family responsibilities etc.
I already have LIC plans but seems wasted & useless but due to parents old trusted platform had no choice.

So after retirement where should one invest from now to at least get 5+ cr money so that child education, marriage and my retirement life will sail smooth?
Looking for something like monthly 30-35k guaranteed income. (not looking for lump sum 5cr in one go)

I can manage to save around 4 lacs. Please suggest accordingly. I want to invest in least risk profiles.
 
Guys looking for similar planning.
Till date whatever I earned was utilized towards regular expenses and family responsibilities etc.
I already have LIC plans but seems wasted & useless but due to parents old trusted platform had no choice.

So after retirement where should one invest from now to at least get 5+ cr money so that child education, marriage and my retirement life will sail smooth?
Looking for something like monthly 30-35k guaranteed income. (not looking for lump sum 5cr in one go)

I can manage to save around 4 lacs. Please suggest accordingly. I want to invest in least risk profiles.

Please have your basics (term insurance, health insurance, emergency corpus etc.) covered as outlined in my previous post. For investment, start with Goal Based Investment. I would recommend you to read "You Can Be Rich Too : With Goal Based Investing" book for better understanding.

For retirement corpus, I would personally suggest you to start with Index mutual funds. However note that investment in Mutual Funds depends on your risk apetite. For moderate risk, start with 30% in Nifty 50 (ICICI Prudential Nifty Index Fund - Direct Plan), 30% in Nifty Next 50 (ICICI Prudential Nifty Next 50 Index Fund - Direct Plan) and 40% in Liquid mutual funds (ICICI Prudential Liquid Fund - Direct Plan). You can choose these plans from other AMCs too, as per your convenience.
 
Please have your basics (term insurance, health insurance, emergency corpus etc.) covered as outlined in my previous post. For investment, start with Goal Based Investment. I would recommend you to read "You Can Be Rich Too : With Goal Based Investing" book for better understanding.

For retirement corpus, I would personally suggest you to start with Index mutual funds. However note that investment in Mutual Funds depends on your risk apetite. For moderate risk, start with 30% in Nifty 50 (ICICI Prudential Nifty Index Fund - Direct Plan), 30% in Nifty Next 50 (ICICI Prudential Nifty Next 50 Index Fund - Direct Plan) and 40% in Liquid mutual funds (ICICI Prudential Liquid Fund - Direct Plan). You can choose these plans from other AMCs too, as per your convenience.

But how does one choose which fund based on risk assesment. Is there a guide on how to research and what to look for in a fund/company and choose funds ?
 
But how does one choose which fund based on risk assesment. Is there a guide on how to research and what to look for in a fund/company and choose funds ?
Exactly!

Please have your basics (term insurance, health insurance, emergency corpus etc.) covered as outlined in my previous post. For investment, start with Goal Based Investment. I would recommend you to read "You Can Be Rich Too : With Goal Based Investing" book for better understanding.

For retirement corpus, I would personally suggest you to start with Index mutual funds. However note that investment in Mutual Funds depends on your risk apetite. For moderate risk, start with 30% in Nifty 50 (ICICI Prudential Nifty Index Fund - Direct Plan), 30% in Nifty Next 50 (ICICI Prudential Nifty Next 50 Index Fund - Direct Plan) and 40% in Liquid mutual funds (ICICI Prudential Liquid Fund - Direct Plan). You can choose these plans from other AMCs too, as per your convenience.

Sounds good but as Puns pointed out is there a noobish guide to begin with?
Don't mind but I'm a newborn at investment and never ever invested anywhere. May be I'm late but as they say better late than sorry....
Also, I dont want to go via those markets agents etc.
Yearly I manage to save around 3.8 - 4lacs so I think whatever best possible I'm ready to invest with minimal risk.

 
Exactly!



Sounds good but as Puns pointed out is there a noobish guide to begin with?
Don't mind but I'm a newborn at investment and never ever invested anywhere. May be I'm late but as they say better late than sorry....
Also, I dont want to go via those markets agents etc.
Yearly I manage to save around 3.8 - 4lacs so I think whatever best possible I'm ready to invest with minimal risk.

Start with the book which I told in my previous post. Don't get overwhelmed, read through the book and that will clear your many doubts. I was in same boat 2 years back and following helped me a lot:

1. You Can Be Rich Too : With Goal Based Investing
2. Asan Ideas for Wealth
3. freefincal
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But how does one choose which fund based on risk assesment. Is there a guide on how to research and what to look for in a fund/company and choose funds ?
Start here: https://freefincal.com/category/plumbline-select-mutual-funds/
 
I got banned from Indiainvestments for talking bad about Indian government. Mods there are pro BJP.

I didn't even talk nonsense. Just said the finance ministers policy was just to get tax from common people while letting off banks etc. Got perma banned. Lol.

Edit: The You can be rich too book is just Rs.192.73 on Kindle. I downloaded the sample and looks like he is telling people to look at your life like a company. Making lists etc. Become business minded in short.
 
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I got banned from Indiainvestments for talking bad about Indian government. Mods there are pro BJP.

I didn't even talk nonsense. Just said the finance ministers policy was just to get tax from common people while letting off banks etc. Got perma banned. Lol.
For real [emoji15]
 
I post this in the BJP thread and posting it here also, This is for Bank but Insurance Company also comes under this bill....Hope forum members are well aware this


 
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