Making an Investment With LIC
If we talk about investment, then there are many options available. The name of the country’s largest and government-owned insurance company, Life Insurance Corporation of India (LIC), is also included in the list of these options.
One of the major reasons for this is that investment in LIC is considered safe. LIC is very popular among the masses among the available investment options.
LIC runs many types of schemes, and here we will give you information about one such scheme that can give you a benefit of Rs 25 lakh.
SIIP Plans Are the Best
If you want to invest in any scheme of LIC, then its Regular Premium Unit-Linked Plan, SIIP, can be a good option.
Under this scheme, you have to invest for 21 years. This investment will cost around Rs 10 lakh.But on this investment of Rs. 10 lakhs, you will get a profit of about Rs. 35 lakhs.
In this way, depending on the maturity of the policy, you will get Rs 45 lakh.
Systematic Investment Insurance Plan
We are talking about LIC’s Systematic Investment Insurance Plan (SIIP). You need to invest Rs 4,000 per month in LIC’s SIIP plan.
You have to make this investment for 21 years. Rs. 4,000 per month means you will invest Rs. 48,000 in a year. In this way, the total investment amount in 21 years will be Rs. 10,08,000.
Will Receive 45 Lakh Rupees
With the completion of the scheme, you will get a total of Rs 45 lakh on maturity. On the maturity date of the scheme, there will be a benefit of Rs 34,92,000, or approximately Rs 35 lakh.
Under the SIIP scheme, the investors get the flexibility to pay the premium in four ways. In these, there will be the facility to pay premiums on a monthly, quarterly, half-yearly, and annual basis.
The Premium Will Be Different
If you pay the premium for the entire year at once, you will only have to pay Rs 40,000 rather than Rs 48,000.
This means you will make an additional Rs. 8,000 profit.22,000 on a half-yearly basis (a benefit of Rs. 4,000 on an annual basis) and Rs. 12,000 on a quarterly basis.
Obtain a Special Discount
A grace period of a few days is also given for premium payments. Under the SIIP scheme, the investor will also be given an insurance cover of Rs 4,80,000 till the maturity of the policy.
This policy can be purchased both offline and online. You will not even need a DEMAT account. SIIP will have a lock-in period.
It will be for five years. After this, the investor will be able to surrender the policy at any time.
There is No Surrender Fee
The advantage of surrendering the policy after five years is that you will not be charged a surrender charge.
Keep in mind that the average maturity amount of this policy will be based on the NAV growth rate of 15 percent per annum.
Take expert advice before investing. This plan provides insurance-and-investment cover during the entire term of the policy. There are four different fund options to invest in.
