This gentlemen, coming from rural Gujarat ,settled down in Ahmedabad a few years ago. He came in touch with me in 2004. His income ranged between 70000 to 90000 rupees per year and was growing. He consulted me and told that he wanted better returns and had an idea
that stock markets were doing well. I had no difficulty convincing him about Unit Linked Endowment Plan . The premium fixed was Rs 2500/- and life risk given was Rs 200000/-. The plan commenced in Jan 2005. His life risk cover charges have been around Rs65/- per month. He topped up Rs 15000/- in the March 2007 and has given ten quarterly premiums so far. His fund value stands at Rs 41900/- on 27 Sep 07 and has given him returns of above 35% on net investment.
Does it not show that India has come of age and people from humble rural back grounds and artisans in traditional ways have started participating in modern economy through ULIPs.
Hari Om
Krishna Kumar Khandelwal
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