LIC Money plus ULIP?

Question

I have invested 10K in LIC's Money plus(Growth) last year and got around 620 units. This year I have paid another 10K getting around 900 units. Assuming i will get another 900 units when I am paying my 3rd premium of 10K, i will have 2400 units (approx) next year. My ploicy term is 5 years . Currently the NAV for this unit is 9.20 . Assuming it will come around 10.5 at the end of 5th year (This NAV is coming up very slowly ... OMG). So my total value at the end of my policy period will be = 10.5*2400 = 25200 which is actually loss to my 30K investment .. Are my calculations correct ? I am really worried investing 30K and waiting for 5 years what I am going to get is nothing but some loss.... Are there any bonus amount will be given when the policy period is completed ? How can i cover these losses then ? I really need some advice here and also about the features of ULIP policies..

Thanks in advance

Answer 1

i have policy money plus number is 893600380 ,number of units 2408.835 i want to know if i surrender this policy how much amt i wll receive

Answer 2

Yes

Answer 3

Hi All, I am also in same boat. But still agents giving hope that market will shoot up and then atleast the amount what is out will come out. There is no norms from the givernment of India on this it looks. Living in India needs tricks apart from putting effort on earning money.

Answer 4

i want to revert all my investment. can someone let me know what is the process

Answer 5

Your calculation looks ok, infact i am in the same boat with 100K invested per year.
Lets look for the insurance agent!!! Probably he is the real culprit...:-) Moen

Answer 6

Your calculation looks ok, infact i am in the same boat with 100K invested per year.
Lets look for the insurance agent!!! Probably he is the real culprit...:-) Moen

Answer 7

Your calculation looks ok, infact i am in the same boat with 100K invested per year.
Lets look for the insurance agent!!! Probably he is the real culprit...:-) Moen

Answer 8

Your calculation looks ok, infact i am in the same boat with 100K invested per year.
Lets look for the insurance agent!!! Probably he is the real culprit...:-) Moen