Topic: LIC komal jeevan or SBI unit plus child plan - which is better?

please advice

LIC Komal Jeevan is a classical child plan while SBI unit plus is ULIP based child plan. If you want to buy it for more than 10 years, go for the ULIP based plan. Otherwise, better to buy term insurance and invest in MF regularly. Plans like Komal Jeevan give very low returns. So they are not suitable to most of the investors. For more on child planning you can click on the link below.

http://khotapaisa.wordpress.com/category/child-insurance/

You can consider a ULIP plan for your child as the term for child plan is normally more than 10-12 years. Further, SBI unit plus child plan offers inbuilt payor benefit rider. LIC komal jeevan on the other hand is a traditional plan which offers cover for the child and returns are guaranteed. You need to additionally opt for premium waiver benefit.

This message was edited 2 times. Last update was at 21/07/2009 15:11:18

LIC is best for child paln because it's a govt company so that your money is safe.

Product summary:
This is a Children's Money Back Plan that provides financial protection against death during the term of plan with periodic payments on survival at specified durations. This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years.

Commencement of risk cover:
The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.

Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, up to the policy anniversary immediately after the life assured (child) attains 18 years of age or till the earlier death of the life assured. Alternatively, the premium may be paid in one lump sum (Single premium).

Guaranteed Additions:
The policy provides for theGuaranteed Additions at the rate of Rs.75 per thousand Sum Assured for each completed year. The Guaranteed Additions are payable at the end of the term of the policy or earlier death of the Life Assured.

Loyalty Additions:
This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of loyalty additions which are terminal bonuses payable along with death or maturity benefit. Loyalty addition may be payable depending on the experience of the Corporation.

Comparison between an apple and beer is invalid !!

Apple gives health but limited fun. (Komal Jeevan - guaranteed returns)

Beer makes you overweight but people still love it ! (Ulip - non-guaranteed returns)

This message was edited 1 time. Last update was at 03/09/2010 13:46:05

According to me Jeevan Kishore and Komal Jeevan are the best policies for childrens for single premius and regular premium.

These 2 policies gives you best return among LIC products available for children. If you compute you can get approx 8.5% guaranted retrun with Komal Jeevan.

There is no assurance in ULIP plans and it is like that you are playing gamble with your hard earned money.

which policy is better in between komal jeevan and jeevan kishore

LIC komal jeevan on the other hand is a traditional plan which offers cover for the child and returns are guaranteed. You need to additionally opt for premium waiver benefit. so go for it...

Komal jeevan is a Child plan with guranteed bonus rates and is better as it gives the certainity.

PLS GIVE ME AGUIDANCE REGARDING THESE TWO CHILD PLAN.

khotapaisa wrote:LIC Komal Jeevan is a classical child plan while SBI unit plus is ULIP based child plan. If you want to buy it for more than 10 years, go for the ULIP based plan. Otherwise, better to buy term insurance and invest in MF regularly. Plans like Komal Jeevan give very low returns. So they are not suitable to most of the investors. For more on child planning you can click on the link below.

http://khotapaisa.wordpress.com/category/child-insurance/

Anonymous wrote:

khotapaisa wrote:LIC Komal Jeevan is a classical child plan while SBI unit plus is ULIP based child plan. If you want to buy it for more than 10 years, go for the ULIP based plan. Otherwise, better to buy term insurance and invest in MF regularly. Plans like Komal Jeevan give very low returns. So they are not suitable to most of the investors. For more on child planning you can click on the link below.

http://khotapaisa.wordpress.com/category/child-insurance/

ULIP ........is .....not at all good for children's plan

Details and calculation of child plan of sbi

LIC Komal Jeevan - It gives guaranteed returns.

ULIPs are related with market return.....

for children I will suggest go for Non ULIPs

YuvrajMaurya wrote:please advice

Rita wrote:LIC is best for child paln because it's a govt company so that your money is safe.

Product summary:
This is a Children's Money Back Plan that provides financial protection against death during the term of plan with periodic payments on survival at specified durations. This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years.

Commencement of risk cover:
The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.

Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, up to the policy anniversary immediately after the life assured (child) attains 18 years of age or till the earlier death of the life assured. Alternatively, the premium may be paid in one lump sum (Single premium).

Guaranteed Additions:
The policy provides for theGuaranteed Additions at the rate of Rs.75 per thousand Sum Assured for each completed year. The Guaranteed Additions are payable at the end of the term of the policy or earlier death of the Life Assured.

Loyalty Additions:
This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of loyalty additions which are terminal bonuses payable along with death or maturity benefit. Loyalty addition may be payable depending on the experience of the Corporation.

pls send me best policy of my kids his age 01 motnt

LIC Komal Jeevan would be the best. 'cose of its 75 per thousand guaranteed addition.

You need to pay premium till your kid become 18 yr.
it will give you return from 18th yrs

i.e. when your kid age 18 then 20% of Sum assured (SA)
when your kid age 20 then 20% of Sum assured (SA)
when your kid age 22 then 30% of Sum assured (SA)
when your kid age 24 then 30% of Sum assured (SA)

finally at the end at 26th yr 75 x (26 years - your kid age) x SA/1000 = guaranteed addition

pls calculate 75 x (26 years-your kid age) x SA/1000=guaranteed addition

Anonymous wrote:pls calculate 75 x (26 years-your kid age) x SA/1000=guaranteed addition

Suppose your kid age is 2 year

sum Assured is 2,00,000

GA will be 75 x 24 (26 -2) x 200 (2,00,000/1000) = 3,60,000

kolkata.lic.agents wrote:LIC Komal Jeevan - It gives guaranteed returns.

ULIPs are related with market return.....

for children I will suggest go for Non ULIPs

what is the kids age to be used, is it at the date of the commencement of the policy ?

approx what can be expected as loyalty addition on maturity

If you want to buy policy with LIC pls contact me .

Regards
Jay
D.O
9742264742
jaykaran.prajapati@gmail.com
Banagalore

Anonymous wrote:

Anonymous wrote:

khotapaisa wrote:LIC Komal Jeevan is a classical child plan while SBI unit plus is ULIP based child plan. If you want to buy it for more than 10 years, go for the ULIP based plan. Otherwise, better to buy term insurance and invest in MF regularly. Plans like Komal Jeevan give very low returns. So they are not suitable to most of the investors. For more on child planning you can click on the link below.

http://khotapaisa.wordpress.com/category/child-insurance/

ULIP ........is .....not at all good for children's plan

does ulip give guaranteed return. what komal jeevan is giving??

hi

Komal jeevan is good plan provided by LIC.

anyone want to buy LIC product please contact me

amrita.saurav@ymail.com
9535399009/9663988444

Anonymous wrote:PLS GIVE ME AGUIDANCE REGARDING THESE TWO CHILD PLAN.

YuvrajMaurya wrote:please advice

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