New Delhi: Life Insurance Corporation (LIC) gives a slew of insurance coverage insurance policies to buyers looking for to develop their small amount of cash paid month-to-month into a big sum on the time of maturity of the scheme.
In one such policy, LIC is providing insurance coverage cowl together with a powerful return on your cash. The state-owned insurance coverage firm has named the policy as LIC SIIP, which is a unit-linked, common premium particular person life insurance coverage scheme.
LIC SIIP options
LIC is providing 4 forms of funding funds in this plan. You can make investments in any of the plans of your alternative. You can even go for paying the instalments of the policy on a month-to-month, quarterly, half-yearly or annual foundation.
How to purchase LIC SIIP?
You can begin investing in the LIC SIIP policy through offline and on-line modes. The LIC SIIP plan’s scheme quantity is 852 and UIN is 512L33C01. The policy is well accessible for investing on LIC’s web site.
There can be a grace interval of 30 days for premium fee on a quarterly, half-yearly and yearly foundation. For month-to-month instalment, you’ll get a grace interval of 15 days.
Maturity interval of LIC SIIP plan
The minimal age restrict for this SIIP plan of LIC is 90 days and the utmost is 65 years. You can go for the choice of paying a premium for 10 years to 25 years. There isn’t any restrict on higher restrict on the premium quantity, which suggests you can make investments as a lot as you need. Also Read: LIC scheme: Pay a single premium in THIS plan to get lifetime returns
However, the minimal month-to-month premium ought to be Rs 4,000, whereas it’s Rs 40,000, Rs 22,000 and Rs 12,000 for annual, half-yearly, and quarterly month-to-month instalments.
How to get most advantages from the LIC SIIP Plan?
If an investor begins investing in the LIC SIIP Plan from the age of 30 years for the following 25 years, then the maturity quantity might stand at Rs 70 lakh. For this, an investor has to deposit a premium of Rs 30,000 every three months.
During the stated time interval, the investor would have invested round Rs 25 lakhs. It is essential to notice that the investor has to choose the 8% rate of interest choice from the record of plans provided below the LIC SIIP policy to reap the utmost advantages. Also Read: Invest in THIS LIC policy to get Rs 27 lakh for daughter’s marriage
