[Info.] Leader App - LIC Financial Calculations Helper
After the post I had created a while ago on how to calculate yearly returns properly using IRR method, I have found another great app to help.
App Link – https://play.google.com/store/apps/details?id=c...
Note: Use premium calculator option and then select PDF for detailed report.
IRR calculator app – https://play.google.com/store/apps/details?id=c...
Check out my previous post for more guidelines on how to combine these two and get a proper annual returns rate out of it – https://www.desidime.com/discussions/info-endow...
App Usages:
- Calculate approximate maturity amount for LIC policies
- Calculate estimated surrender value at different intervals(available in PDF file)
- And more
I hope that you utilise these tools before actually buying a financial product and check the actual side of it. My goal is to spread awareness as much as possible to help you guys stay away from such plans and know what you are getting yourself into.
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Exactly bro, Term Insurance(Online Plans) + SIP in Mutual Funds(Direct Funds) are currently the best from both assurance and investment perspective.
Stay away from endowment plans.
For me it is showing 7.4309%. Is it good?
Plan details please, if you did it correctly, then congratulations on achieving the above average rate of 4-5%. These rates does not exist anymore as far as I know.
Is it good? Certainly not if you consider mutual funds rate of returns, but it’s relatively better in this market.
Nice initiative bro. Keep it up.
People really need to understand actual IRR before investing & which is very very difficult to calculate particularly with LIC due to bonus etc.
People are blindly trusting on LIC without knowing actual facts.
@Sudarshan61
Did you calculate the XIRR on your funds about which you posted in some other thread?
My suggestion never go with lic endowment or lic term insurance, but still if u want to go then use leader app for premium , sum assured calculation easily.