ICICI PRU GUARANTEED INCOME FOR Tomorrow

[dapatale]

Guys
Today got a call from ICICI bank for this plan and asking me to invest 87k per year for 1lac plan(13 percent discount on premium) for 5year
He gave me this fact sheet
Anyone has experience about this plan

 

[shrewdoc]

Guys
Today got a call from ICICI bank for this plan and asking me to invest 87k per year for 1lac plan(13 percent discount on premium) for 5year
He gave me this fact sheet
Anyone has experience about this plan

DON'T combine investment and insurance EVER, unless you're getting something in return from them, like an LTF Credit Card or a Free Locker, etc.

 

[dapatale]

DON'T combine investment and insurance EVER, unless you're getting something in return from them, like an LTF Credit Card or a Free Locker, etc.

I am already having wealth account and LTF rebxy and life cover for 1cr

 

[dapatale]

DON'T combine investment and insurance EVER, unless you're getting something in return from them, like an LTF Credit Card or a Free Locker, etc.

Only good thing was 13℅ discount on primium
As per executive this is what broker gets if I go through them and here company is giving upfront discount

 

[chiron]

Better to put that amount in FD ( for emergency fund) than to put money in such schemes
Just try to calculate the returns of 1 lakh for 10 years and see the difference yourself

 

[shrewdoc]

Only good thing was 13℅ discount on primium
As per executive this is what broker gets if I go through them and here company is giving upfront discount

You see it as 13% discount + 35% back over 20 years, I see it as MINIMUM 50% Loss considering 100% returns on a MINIMUM 10 year period and much much more over 20 years. It's just the power of compounding. 😀

 

[Deleted member 9785]

guaratted for the agent and bank

 

[shrewdoc]

Also the great thing is, even if you invest in FD as suggested by @chiron and considering you average at 7% returns YOY, it still adds upto 70% in 10 years and 140% in 20 years even if you receive Quarterly interests and even more if you take all on maturity. Hope this crash course helps 🤣

 

[Predator]

DON'T combine investment and insurance EVER, unless you're getting something in return from them, like an LTF Credit Card or a Free Locker, etc.

Agree. Don't purchase investment products from an insurance provider. You will not get good returns

 

[dapatale]

i accepts all the views but still have query
see this calculation
if i do FD of 1 lac every year for 10 years with 9 % rate of interest then at end of 11 year i wll have 16,85,351
With this plan if i go for withdrawal at 11 th year rather than going for 20 years final maturity amount will be 19,00,000 ( 1000000 + 250000+ 650000)

 

[shrewdoc]

i accepts all the views but still have query
see this calculation
if i do FD of 1 lac every year for 10 years with 9 % rate of interest then at end of 11 year i wll have 16,85,351
With this plan if i go for withdrawal at 11 th year rather than going for 20 years final maturity amount will be 19,00,000 ( 1000000 + 250000+ 650000)

If you break at 11th year, where did 10L came from? You only get 2.5L + 6.5L + 1.35L = 10.35L plus some non-guaranteed benefits as stated (whichever consolidated is higher)

 

[CCFan12]

That 10 lacs is death benefit, marne pe milega..

 

[govisi]

He considered and added that too 🤣