Is it true that money plus will make available me rs.1600000/-?
Answers: Be very thorough about those, plans and funds trying to lure you with data. Please note:
1. Get the orginal document (not xerox or reprints) concerning the plan and read it carefully.
2. You will come across abundant terms and conditions, which your agent have never told you.
3. There will be hidden charges, for e.g. for managing the fund, instead of collecting money from you, they will redeem your unit and later you will be moved out with smaller quantity units.
4. Then they will ask you to retribution some amount to top up these units, which may show that you end up paying more than what is told to you.
5. The returns are lately assumptions and NOT GUARANTEED. If the fund performs in good health you get more, except you lose. This means near is a risk associated with it.
6. Again to repeat, the agent freshly wants to get rid of a plan to meet his target. He may not tell you adjectives the risk factors. 15 or 20 years is too long a extent to know the results and then appropriate corrective actions.
7. A better choice would be to go for mutual funds of some honest fund house.
All the best
First as an investor u have to know how u invested.Whether u invested contained by single premium type or regular.The return depends upon the number of units u get and the NAV at the time of your surrender.It is only assumption that our reduction is doing well and after 15 or 20 years NAV will be 10 to 15 times large and the assumption may be workout.