When investing in ELL I C or any other life insurance, a sizeable portion of your hard earned money which may be upto or even exceeding 35% of the first year premium goes in the pocket of the advisor concerned that too at the start of your policy. Now, no bank guarantees a max of 8% return now a days. But the advisor has been rewarded with 3rd of the premium just at the onset of policy. Even on subsequent premium payment the agent enjoys the benefits of fare commission just at the instance of premium payment. It is rightly said that Insurance is a subject matter of solicitation because no person without the provocation(by the false promises) by the advisor will opt for insurance.
Never expect returns exceeding inflation rate on your insurance policy; instead opt for term insurance plan after comparing premium(online term insurance is even cheaper) of various companies with sizeable sum assured to create a backup for your loved ones in case the Almighty takes you away. Buying a policy of coverage of Rs say 1 or 2 or 3 lakh can not be a fruitful option. Instead opt for bigger amount say 10 Lakh, 50 Lakh, 01 crore or even more by exploring the options available in the market. Must inform family member and friends that you are insured. . No company can deny the genuine claim as all work under the prestigious IRDA body. For capital appreciation over a period of long time, insist on mutual funds. Plz forward to others if you find it informative.