If you are happy with 5 - 6 % return with a
very low life cover of 10 - 15 lakh, then you may buy this plan.
As with any other traditional life insurance plan, it comes
with low life cover, poor returns and high surrender costs.
You will
get low life cover and poor returns, especially with traditional life insurance plans.
Yes, companies with greater share of bundled plans or
low life cover policies are likely to have better claim settlement ratios.
Traditional life insurance plans are opaque,
offer low life cover and provide guaranteed poor returns.
Traditional plans fall between the two stools of good returns and adequate life cover — they offer poor returns and
very low life cover.
In ULIPs (as mentioned by you), you are paying high premium
for low life cover and only a portion of your premium is invested in financial securities.
With the non-participating plans, you guarantee yourself poor returns and
a low life cover.
You continue to earn sub-optimal returns and have
a low life cover.
So, with such products, you get guaranteed poor returns and
low life cover.
Since
the lowest life cover under the plan is Rs 25 lacs, I have considered Rs 25 lacs cover for LIC e-Term plan.
Low life cover and abysmal returns, I can not see any reason why you should go for LIC Jeevan Utkarsh.
Low life cover and poor returns.That's all traditional plans provide.
Traditional plans, in general, provide
low life cover and poor returns and must be avoided.
By taking
a low life cover today you are impacting your family's future and goal.