Kotak assured saving plan

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Deal Cadet
baaz4u2007

I am planning to this. Plan is pay premium for 1st 10yrsthen  u get amount in15th or 20th yr.. say 1lak yearly for 10yrs . We get approx 23.5 lakh in 20 yr.. i just need review from dimers who knows about it or have taken it.. is it a good plan?? Or any other good plan pls suggest..

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Deal Cadet Deal Cadet
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You put 1 lac in fd and with 8% interest, it would become close to 5 lacs in 20 years.

Deal Cadet Deal Cadet
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Here interest is taxed but in kotak plan its not

Finance Mentor Finance Mentor
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1L per year in most mutual funds would give you 15L in 10 years even at less than actual returns of 8 percent. 

Depositing that 15L in lumpsum for another 10 years in a mutual fund would accrue total amount of 32 lakhs.......

Have you even calculated the final interest percent returns of your kotak plan? 

Deal Cadet Deal Cadet
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No not calculated..

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Talk-Of-The-Town Talk-Of-The-Town
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@baaz4u2007 just ask ur agent whats the XIRR?
Generous Generous
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The net rate of return is  6% .... Plus if there is tax on that gains (if tax rate is 30% after 20 years.. net rate of return is 4.2% on your investment)

Yes, this is the best policy.. for the bank. 

Deal Cadet Deal Cadet
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No tax on gains!!! 

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Deal Subedar Deal Subedar
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Check dm @baaz4u2007

Generous Generous
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referral?
Deal Cadet Deal Cadet
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Thanks all for reply .. not buying this plan now.. will search for other gud plans .. suggestions r welcome 

Helpful Helpful
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are you looking only for insurance plans like the one discussed here?

what is the purpose of your investment?

Deal Cadet Deal Cadet
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6% return, kotak is giving better than hdfc, I have seen my uncle's plan where the return on calculation came to 4.1%.

With inflation only over 6.5%, currently, the buyer of the policy is losing money.

Benevolent Benevolent
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The only good insurance product is pure term life insurance. every other product is to loot the customer and profit the insurer and the agent. Insurance products are for covering risk. They are not investment products. If you are thinking of investment, dont even look at insurance products.

Helpful Helpful
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would you say the same if you are getting around 6.5-7% post tax returns as an investment which are better than most debt product returns post tax.
I agree with your statement ,most people don't need to invest in this ,but you don't invest your entire savings in equity , you need a certain percentage in debt products as well.
I know I'm saying something different but if you already invest most in equities and have some surplus to invest in debt products.
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Helpful Helpful
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So many Life insurance Plans from different companies in market ... some tax benefit removal of above 5,00,000 policy deadline which ends on march 31..

following this thread.

Benevolent Benevolent
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The tax benefits of insurance products under new tax regime are negligible and will become non-existent in future. Do not take long term recurring expenditure decision based on such illusions of tax benefit. 

Deal Cadet Deal Cadet
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I have sorted out 2 plan with high irr 

1)Bharti axa smart invest guaranteed plan
2) maxlife smart fixed return digital titanium.

can we buy any one of them ... if yes online or offline which will be good .. any other good alternatives r welcome... i have checked this in policybazaar
 

Deal Newbie Deal Newbie
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Thank you for your valuable information

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