In the above Illustration, an individual earning Rs 1.2 lakh per annum, the sum assured should be an amount which if invested would at-least generate an income of about Rs 1lakh annually. Assuming the interest rate of 9%, this individual thus needs a life cover of Rs 10 to 15 lakh, or 10 times the annual income, at a very low cost i.e. about Rs 3000 to 4000, to ensure that the family members are not forced to a drastic cut in their lifestyle in the unforeseen event of the death of the prime earning member.
Sampoorna Suraksha Package also takes care of Medical Expenses requirement by including Health Insurance as a component. So, the individual gets a Family Health cover of 1 to 1.5 Lakh for a cost of Rs 3000 to 4000.
With securing the individual and his family from unforseen events, Package also seeks for wealth generation through systematic investment over maturity period, though investment done systematically is available for redemption at any point of time.
So, for an apx Rs 20,000 investment per year, the individual gets a life cover for Rs 10-15 Lakh, Family Health Cover for Rs 1-1.5 Lakh and opportunity to generate wealth to meet his goals over insurance maturity period.
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Xfundz Sampoorna Suraksh is a Packaged Product consisting products from different companies and subject to KYC fulfillment for individual product component. This illustration is for informational purpose and not a solicitation to buy or invest in any of the component of the package. Returns of Mutual Fund Systematic Investment have been calculated @15% CAGR and are subject to market risk, Please read the scheme Information document carefully before investing.