Just got to know how to get a LIfe Time Income..!!!

Was just having my evening tea..to shed of my laziness...phone rang..with utter relentless i picked up the call just to hear that the person on the other side was offering me a plan which can guarantee me LIFE LONG INCOME..immediately I was with him.. all my senses trying to get the best ...here is what i was told ...

I have to pay Rs. 100000/-for 15 years ..from 6th year i will get a cheque of Rs.36000/-...from 10th year it will increase to Rs.72000/- plus 5%gauranteed amount of the 12 Lakh insurance cover that i am getting with the plan which will come to Rs. 60000/- so a total of Rs 132000/- .there is more to it...tht after 20 yrs my yearly income will go up to 160000/-...tht means for next as many years i live i will receive an amount of 160000/-. On the face of it the offer looks quit lucrative..

but the catch is...

I deposited a total of 15 lakh rs..which if invested in a RD (recurring deposit) would atleast get double.. that means it would be 30 lakhs after 15 years..if you calculate a simple interest of 8% which any bank FD will give..the amount that i will receive yearly would be Rs. 240000/-..now the question is even if I have to pay a tax of MAX. 30% then also i will start receiving Rs. 160000/- after 15 years..and BEST PART IS my FD of 30 lakhs can be liquidated any time i wish to..whereas this Life Long Income Plan does not give you any option to get out of it..if any time I wish to surrender the plan I WILL ONLY RECEIVE 30% OF THE PREMIUMS THAT I HAVE PAID..that means after paying for 15years if I wish to withdraw from this plan for my child’s education I will get only 5 lakhs..so before opting for this plan please make sure that you have made adequate arrangement for that..!!!

have fun..and your valuable comments r awaited..

regards,

pranay