Reality of Money Back, Guaranteed Income, Endowment Insurance plans
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- Опубликовано: 14 фев 2024
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Endowment and money-back insurance policies are financial products that combine elements of insurance and investment. However, they often fail to provide substantial benefits in either aspect. It's crucial to distinguish between insurance and investment when considering these policies.
Insurance serves the purpose of providing financial protection against specific risks, such as death, disability, or illness. On the other hand, investments are vehicles for growing wealth over time. Combining the two can sometimes dilute the effectiveness of each component.
Endowment policies typically involve paying premiums over a specified period, and upon maturity or in the event of death, a lump sum amount is paid out to the policyholder or their beneficiaries. Money-back policies, as the name suggests, provide periodic payouts during the policy term along with the maturity benefit.
While these policies offer some level of savings or investment opportunity, the returns are often lower compared to other investment options available in the market. Moreover, the insurance component may not offer sufficient coverage or flexibility to meet individual needs.
In contrast, term insurance focuses solely on providing a death benefit within a specified term, without any investment component. It offers a higher coverage amount at a lower premium compared to endowment or money-back policies. The primary objective of term insurance is to ensure financial security for dependents in case of the policyholder's demise during the term.
Financial experts often recommend term insurance as the preferred life insurance option for most individuals. The coverage amount should ideally be substantial, typically at least 25 times the annual expenses of the insured individual. This ensures that in the event of their untimely death, their family members are adequately protected financially to maintain their standard of living and meet ongoing expenses.
In summary, while endowment and money-back insurance policies may seem attractive due to their combination of insurance and investment features, they often fall short of delivering optimal benefits in either aspect. It's advisable to prioritize term insurance for basic life coverage and consider separate investment avenues for wealth accumulation and growth.
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Bro Nan policy bazaar la (capital guarantee) la monthly 4000 inverse pana start pana bro last month lathu .he told me 21% returns...yearly 48 k for 10 years. after 10 years waiting period ...20 years complete 1 crores eqdukalam neega nuu sonanga ...1 crores varum la bro
@@kaja9171 one crore ah nottum..
Dear Anna,
Very thank for your reply.
I will abide with your suggestion
"" I will surrender the existing policy
@@kaja9171 padichi padichi sonnalum thirundha matinga.. yemandhu poradhu passion ah vachitu irkanga oor poora . Insurance la solradhu ellame projection only guaranteed illa.. veliya poi enquiry panunga 10, 15, 20, years insurance la amount spend pani evlo vandhuchu nu poi ketu parunga.. ellame waste nu tha solvaga...
@@darkevil5220 ohhhh .Nan apa quit panidaren thanks 🥺 boosan and dark evil
When Boosan says "Detailed ah, data oda indha video la paapom".. I'm pinish ❤💥
I appreciate that you support your facts with detailed math. The idea to include inflation adjustment does give a very practical perspective which we mostly tend to forget while thinking about returns.
True
One of the most useful RUclips channel for life and investment
Thank you so much 🙏🏽
One of your best videos.. super informative..
thanks for the information much needed
I would say this is the best video from your channel
Best Analysis & Wonderful Clarity video in Tamil Community ❤❤❤
Most of all your videos are my eye opening. Because you giving more detailed things with data. And finally I con’t able to choose one proper health and term insurance. Will see I try to choose one good policy. You given more about those insurances. If possible, can you connect with DM for a while. Unga free time la
Your analysis and detailed explanation always best👍
Can you please link the spreadsheet?
Bro put a video on how to review and rebalance the portfolio and when we have to make it
Very well explained. This is an eye opener for many people who are trying to get fooled by these kinda useless pension plan n endowment policies. I have also paid for 2 years and recently understood that it's not worth. Planning to stop paying for these policies even though I'll lose money. Coz by switching to MF, I'll regain by investing in long term.
One question. Is NPS a good option compared to these kinda private pension plan policies?
very well sir. all time good video
Useful awareness video bro 👌
Bro you are underrated … ❤
Same pinch bro.. I just explanined same thing to my relatives few months ago. To make it simple, i even tried to compare bank FD returns but they didn't convinced. They bought similar insurance plan and paying 1 lack every year. Now, I shared, your video also by knowing that they're not going to change. I have very bad convincing skills :)
They will understand later.
Hats off ...
Boss be ready. Whole life insurance companies. May be ready to Suie you.
If I hAve seen this video. Three years before saved lakhs.. 😊
Bro, please make video about reduced paid up. This will give more clarity for the people who got locked in ulip or money back policy
Very Useful information thanks for sharing
Dear Anna,
I already have one policy as money back and the premium of 1 year was paid.
Now as you suggested in table, i worked out😢.
It is really wrong investment.
Could i stop this or to continue.
Please suggest
Bro individual stock profit calculation la only stock current price calculate pannanumaa or current price + Returns % add panni pannanumaa
Hi is it mandatory to have personal accidental insurance apart from
1.Life insurance with critical illness and permanent disability rider
2. Health insurance
Bcz upon refering every term insurance plan they are just providing permanent disability and not covering partial or temporary disability
Very polarised view boosan. You must spend time with seasoned insurance professionals and not be just content with your view. I like your content in general but this one I feel you should grow up. Thanks 🙏🏻
Bro ur knowledge about stock market and your presentation skills are extra ordinary.. pls continue your good work and keep helping people like this. I have one doubt it would be great if you could let us know how you analyse a stock before buying.. eg. Screener is one parameter to analyse.. can u pls let us know where u read past and upcoming news about that stock and what else we should go through.. pls respond bro
Bro term insurance 2 crore life cover yedukka 5 to 6 lakh annual erundhatha eligible nu soldragga epo dhikku 50lakh cover yeduthuttu future la ennoru coverage 1.5 crore ku yedukalama adha pathi detail la explain pannuga bro 👍
Well said bro
Yearly income kidaikkum but end of 20 years lumsum amount tum return aagume ..athayum sethu calculate panna evlo interest kidaikum
Same happened to my mom, should we disconnect it's 3nd years now or how to get away from this
Hi bro. If you are buying US stocks , which stock should you buy and which meter should you check?
Boosan, This is Mani here.... worthy video on insurance scam... Im sure everyone of us and parents faced this scams. I would like to appreciate you..
One question, at the initial phase without having more knowledge we bought an insurance (Excl Terms insu), now is this the good decision to surrender those and put it into the other bucket?
HI Boosan two year before I took the pension plan without calculate the XIRR ratio.. then I realiased it is waste.. after 1st year.. I immediately surrender the policy... though I lost the 1st year premium...Some what i feel now better because.. i have Start invested the same amount in gold or something else.. which gave me better returns
..
Hy boosan....I wanted to invest in Us market..so I invested in Navi nastaq 100 fund , but they temporarily stopped , so I started in motilal oswal nastaq 100 etf and also in mirae asset sp 500 top 50 ETF but this 2 ETF is overlapping at 50 percent of stocks but need to get US market exposure so even Bal 50 is the good exposure to get that so shall kep investing in both or shall I h investing in only one?
Can you put video about market linked ULIP plans..
Maxlife and ICICI
Boosan 50+ age la irkra parents ku ena insurance podalam, if you have any suggestions or what you choose for your parents
My experience with policy bazaar is worst, Better use pb for comparing the policies then buy it directly from the insurance site. 24/7 support mentioned in pb is just a name sake. Beware!
Which kind of policy you purchased sir? Pl let me know. I also plan to buy term insurance.
Hi.. your videos are very good and more useful. Nalla explain panni irupiga.. easy ah understand panna mathri irukum. Unga videos pathu na sip la invest panni iruken. Oru request flexi cap, hybrid mutual fund, index fund, ithula ethula invest Panna nalla returns keadaikum. Which is the better one, and what is the difference between them. Could you make a video and post it.
Bro na oru lic policy eduthruken
Sum assured 10 lakhs
Premium paying term 23 yrs
At the end of 23 yrs return including bonus - 23 lakhs
Idu just 6% return tane, policy ah surrender panradhu worth tane?
Till now paid 5yrs of premium - 2.5lakh
Surrender value appt - 1.6 lakh tan but still surrender pani mutual fund la invest panalam ah? Coz unnum 18yrs premium pay pananum?
Waiting for your suggestion!
Hi Bro! Can you please explain what is investment plan in policy bazzar. There are different plans like "Market Linked plans", "Captial Gaurantee plans". In those plans it says if we have invested 10k for 10 years, we can get returns in crore after 20 or 30 years. The market linked plans covering life insuranse too with coverage of 1cr and the mentioned returns is more than 30cr after ages. Is it a good choice to buy those plans?
Everything OK, but policy bazaar is worst, he calls at simultaneously daily 4 times for me,and don't promote bad
Yes
Pls explain about ULIP plans
Policy bazaar laiyum than bro ulip policy ellam fake ah aduka vaikurangaa ah.
Bro is it good for a separate medical insurance instead of going for riders? Many advisors don't speak about this?Could you please help?
Term insurance + Medical insurance
Vs
Term insurance + rider
When we go for medical insurance ,do we need rider?
Bro, na pure term insurance eduthiruka with accidental coverage in ICICI Prudential. Is there any way we can validate my policy is correctly purchased or any hidden conditions mentioned.
Talk about Equity linked life insurance plan.
Hi bro, @Useful.Information.Boosan.. Current market la.. Edula invest panalam mutual fund la.. Like large or mid or nifty.. For 2 years goal.. With moderate risk.. Your suggestion..
Super aana explain bro na itha en friends kitta sonna yarum namba mandiranga
Which bank account is best for savings account for student can you please suggest me sir which bank account is best in India
Hi boosan, In policy bazar all policy mentioned "0 cost" how to select pure term life insurance ?
Bro how did mention 1.07 in Inflation Adjusted Value. Kindly share the info bro
Hi bro,
My elder brother is physically challenged by birth and when i try to get term insurance for him, many companies are rejecting.
And also insurance company asking above 4 lakhs per annum salary package for term insurance but my brother is earning only 2.5 lakh per annum salary.
Please advise in this regard.
If we take a policy through policy bazaar. Who is receiving commission from insurance companies.
What about income tax on maturity? My broker convinced me to take this since my maturity on endowment policy is tax exempt. Please clarify on this.
Bro I have doubt lump sum amount investment in Mutual fund, example : now I invested in 25K in Nippon small cap fund, after 1 year if anything 10% dip or not can I invest additionally more amount in same demmat account in same fund..pls reply..
Which term insurance is best bro?
I am paying 12000 hlf yearly premium for 5 l death benifit & 5.9 l maturity from 2010 for 21 yrs til 2031
12000 yearly premium for 2.5 l death benefit from 2013 for 20 years til 2033.what can i do the above plan suggestion need.now after watch ur videos i got term insurance also from jan 24.
What about post office schemes like RPLI. Is that good???
Please talk about section 45 of insurance act
Hi bro, what happens if my term life insurance company closes or goes out of business, please explain about this
I took an endowment insurance for a lakh 30 years ago and got around 3.6l on maturity. Then I found that I paid less TDS and just had to pay 3.8L as TDS with penalty. This is the use of insurance to me.
Bro elss mutual fund ls 1000 RS ku sip start panna evalo tax benefits kedaikum....
Thanks boosan bro
ULIP video ketan poitinga..iniku
Yelam bank pona insurance podunga return nala varum nu makalae misuse panranga ...
Hi bro future la India share market long time down la irutha yena panurathu bro.naga middle class family Naga mutual fund investment pannalm nu irukan plz yena panurathu reply me bro
Hi bro, I am not a salaried employe and did not file any ITR yet. In the website of icici and maxlife insurence showing. I am not eligible to take term insurence only l. They are suggesting me to take ULip plane.
Is ther any term insurence which suits for me??
Bro na yearly 30000 invest pandren 10 yrs ku next 2 year la irunthu I got 10000 return till 35 years end of the year my principal also varum ithu nalla plan ah bro?
When i subscribe in your channel i think 20k subscribers now tody 1.65+subscribers congratulations ❤❤ mr. boosan
Thank you 🙌
@@finance.boosan ❤️❤️❤️
Any option to pay subscription with Gpay
Bro i wish u have to talk about this point for sure... Bcz most of them weren't think about it... I initially bought term isurance based on 15times of my salary but now salary increased a lot and inflation rate also increased. So now shall I take one more or what we can do .. let us know if u r in this position what can u do
Yes increase your coverage by taking another term insurance
House wife lam epidi save & invest pannalam... Portfolio va epdi vatchikalamnu video podunga bro
Bro.. HDFC click to wealth plan worth ae?
Hai brother..oru LIC Policy..yearly 46980 podra mathiri..16 years kattanum..adutha 9 year apdyae vittuta..25 year la 26 lakhs kedaikumnu broker sonnaru..
Ithae amount ah 7% FD la pottalum kittathatta ithae amount than varum after 25 years..athuku tax um pudipanga right !?
Aana FD interest rate 25 year ku apdyaeva irukum??..korayavum chance iruku..yaerurathu kashtam..
LIC policy la varra final amount ku tax ethum kedayathunu broker solrar..antha 26 lakhs confirm ah varuma or athuvum koraya chance iruka ? Athu enaku therila..LIC epd work aaguthunu sollunga brother..
Mutual fund pola risk ae vaenamguravangaluku..FD or LIC ethu best ???
Please reply.....
Can you explain about SBI DHFI . How invest in money market via DHFI
Bro please TREPs concept in Mutual Fund ku thaniya video pottu explain panninga bro … Im trying to learn it from you … Nobody did a video on TREPs….
Bro post office life insurance is better to take bro please reply
Hi Boosan, Thanks for explaining clearly. Can you please make a video on how you converted your MF and shares to NRI account while being abroad and how to convert it back after settling in India. With zerodha it is offline process and with Kuvera they used to say to close all existing and start new NRI account where we will loose old Investments. Will this conversion works in same way for new OCI card holders also as they will renounce Indian citizenship? Thank you for your other explanations too.
Bro na 18 th age aguthu bro na monthly sip 500 investment panalam nu irukan bro yethu la investment pandrathu bro soluga bro 5 years ku pandra mari
Shouldn't you calculate the interest and componding for the first ten years?
Broo i want to take term insurance for my parents suggest me any website
Boosan, Hdfc sky brokerage app review please and your opinion compare to other zero brokerage apps
Hi bro, is it okay to opt for "deductible" (for like 25000) to reduce premium for health insurance? Is this a scam or wrong decision?
Wrong decision than bro ...incase ethavathu treatment na antha 25000 or what ever company set limit Kula achuna neenga pay pandra mathi thaan aagum Ella time um antha limit cross panna than ungalukku claim aagum ..thala valithan
@@pjai8759 Thanks bro, correct. 25000 dedcutible vecha premium la 4-5k dhaan kami aagudhu. So, deductible is not worth for me
Bro tata Aia insurance potruken bro..yearly 3L upto 12 year katanum..then 25th year lumpsum ah vangiklam solranga...death sum assured 51 Lakh...ipothN start pannen..continue panatungala bro
Dont go for private insurers.
Zerodha la stock buying video podunga bro note : include all options
Over all good video, Term insurance also increase every year by 6% 😅
Not true completely... Please understand the various plans and the intent. Don't comment in general.
I took HDFC life guaranteed wealth plus for 10 years with maturity at 15 th year. For 2,20,000 per year I am getting 40 lakhs at the end of 15th year tax free returns. Death benefit from Day 1 till maturity.
Hi Boosan, Is it possible to hire an agency or fund manager to handle/manage our monthly investment options? Just asking if possible and if so how we can do this since i prefer not analysing and monitoring funds movement and making adjustments myself
Yes, there are registered advisors for this purpose. They will help you with investment decisions and adjustments
@@finance.boosan Thank you for your reply, Appreciate it. Could you recommend/suggest any registered advisors or any firm ? I tried with my own research ,seems there are many factors to consider.
Bro best health insurance sollunga bro pls thaniyaa oru vedio podunga
Ellam detailed ah than solringa. Term insurance premium age and coverage and policy period poruthu differ agum solunga. Monthly 500 ku 1 cr coverage 18-20 age irkavangaluku than irukum. 40+ age irka oruthar itha pathutu poi keta avarku monthly 3000+ soluvanga
But nan term insurance yeduthuruntha athuvey nallathuthan calculate panna aparama than theriyuthu Ithu RD FD rate ah vida kammiyathan irukku
Hii makkaley... Paytm pathi onga opinion enna.. invest panlama.. 50 50 risk ah... Please share your thoughts 🙏🏻
This is more of policy bazaar promotion video (includes paid promotion).. following the trend that anything we say about insurance and promote share market people will like without second thought..
Google sheet link please
Thankyou boosan sir i get awared this scam my insurance advisor force me to join this scheme
IDCW-Interim vs Growth - which subtype should we select in mutual fund ?
Growth bro
Hi Boosan,
1. Please make a complete comparison video bw Pure Term plan vs Zero cost term plan. Because in policy bazar they're promoting a lot of zero cost plans. I'm unable to figure out a pure term plan.
2. While annual expenses decides the recommended coverage, what if my annual expenses goes up after a few years. Can I upgrade my plan accordingly?
As in this case being a bachelor to Family transition.
Thanks!
Yes I've made a detailed video on Zero cost term insurance | Things to know before buying an insurance
ruclips.net/video/AMI0UYLVZdE/видео.html
With respect to upgrade there are plans which allow life stage updates, or one can also buy a new policy with more coverage.
@@finance.boosan Thanks Man!
Furst year katina apram thaan itha pathi theliva therinjathu 2 laks loss..
HFDC life ..
Naney apadithanga insurance yedutha aparama yosikuran but yenakku share pathi oru alayukku theriyum athanala nan yeduthathu 50 percent thapu but accidental coverage irukurathala Athu 50 percent ok than
Ellam Seri Mutual Fund Ku IRR rate adhula irukura risk ah pathi sollavae ila ??
World Knows what happened In 2008, 2010, 2020 fall apo enaku oru urgent emergency ku Kaasu venum na enna pandradhu ?? Idhulam Stock Market risk dhana.. adhayum neenga sollanum la.
By God's grace I escaped by luckily paying ₹2000 every month SBI ULIP for 5 years and got around 10~12 % return while withdrawing @ end of 5th year..
Good thing , both investment and returns are not taxable..
This 2000 I put just to avoid the agent who was repeatedly contacting me..
Is there any disadvantages in zero cost term insurance? Like high premium or complex t&c?
Zero-cost plans have the same premium as regular term plans but for a longer time, leading to higher overall costs. There's also a clause about when you can surrender the policy. Check out this video for more details: "Zero Cost Term Insurance | Things to Know Before Buying Insurance" at ruclips.net/video/AMI0UYLVZdE/видео.html.
@@finance.boosan Thanks for the reply bro, just saw this video and found out plain term insurance is the suitable one for me. Keep up the good work 🙌🏼👍🏻
I have one doubt, insurance companies invest in infrastructure,railways and other securities which in returns less return. If many people stop investing in insurance, government will invest in these infrastructure which indirectly increases indirect taxes sometimes increased inflation why cant you make video on these topic ? How insurance company make money? What are the underlying regulation in investment?