Whenever you ever hear the name of LIC, there is a thought in your mind about the policy or future securing schemes. But with the changing times, the schemes of LIC also provide the facility of schemes related to the stock market. LIC’s SIIP plan is a similar type of plan. In this scheme, you can make a fund of Rs 7.08 lakh in 10 years by depositing monthly installment of only Rs 3333. The specialty of this scheme is that the company invests your funds in four different places. Because of which you get a guaranteed profit of 105 percent.
This scheme of LIC can be purchased both online and offline. LIC SIIP plan is a ULIP plan that gives garnished returns to investors. As the term of your policy increases, the percentage of your guaranteed income also increases. In this scheme, you also get the option to choose many riders.
105% of the amount due to death in between
If the policy holder dies during the term of the policy, then the company gives 105% of the total premium to the nominee at the same time. At the same time, even after the expiry of the term of the policy, you get a return of 105 percent of the total amount. You have to run this policy for at least 5 years. After 5 years you can withdraw your money anytime. However, these withdrawals will be partial.
Such a fund will become 4.20 lakh rupees
Suppose you have taken this policy for 10 years. Its annual installment is Rs 40,000. Which is about 3,333 rupees per month. At the end of 10 years, you get a guaranteed return of 105 percent i.e. Rs 4.20 lakh. To understand it more, understand the calculus. In 10 years, you deposited an amount of about Rs 3,99,960 according to Rs 3,333. Now that you have completed the tenure of 10 years, according to the current NAV and returns, you will get a profit of Rs 3.08,068 on it. That is, after 10 years, you will get a total amount of Rs 7,08,028.
You also get these benefits
The special thing about this policy is that in addition to doubling your amount, you also get more benefits. Such as the facility to withdraw money in the middle, the facility to switch your fund, the facility to restart a closed policy, the facility of pre-look period and you can also avail a loan on this policy.
read this also: Despite loss of 2.75 lakh crores, this company will buy stake in Reliance, deal will be in so many crores
read this also: ULIPs will be taxed at par with equity mutual funds, amendments to Finance Bill 2021
