If you are also planning to invest in LIC, then you can invest money in LIC Regular Premium Unit Linked Plan, SIIP for profit. Know about it.
Whenever it comes to investment, the name of Life Insurance Corporation of India (LIC) comes first on people’s lips. For years, people have been considering investing in LIC as safe. Despite the existence of all the investment options in today’s time, the credibility of LIC remains among the people. LIC is the largest insurance company in the country and runs a variety of schemes. If you are also planning to invest in LIC, then you can invest money in LIC Regular Premium Unit Linked Plan, SIIP for profit. Under this scheme, you will have to invest about 10 lakh rupees for 21 years and will get a profit of about 35 lakhs i.e. after the scheme maturity, you can get 45 lakh rupees. Know here the important information related to this scheme.
Learn how to profit
Systematic Investment Insurance Plan is called SIIP. In LIC’s SIIP scheme, you have to invest around Rs 4000 every month. This investment has to be done for 21 years. At the rate of Rs.4000 per month, you will invest Rs.48000 in a year and will invest Rs.10,08,000 in 21 years. When this scheme is completed, then you can get a total of 45 lakh rupees. Meaning, after the completion of the scheme, you will have a profit of Rs 34,92,000 i.e. about Rs 35 lakh.
Premium can be deposited in four ways
You can pay premium in four ways (monthly, quarterly, half yearly and annually) under the SIIP scheme. Instead of paying Rs 4000 monthly, if you pay premium for the whole year together, you will have to pay only Rs 40,000 instead of Rs 48,000. Apart from this, Rs 22,000 on half yearly basis and Rs 12,000 on quarterly basis will have to be paid. There will be a grace period of 30 days for premium payment on quarterly, half yearly and yearly basis and 15 days for monthly premium.
Insurance will also cover
Under the SIIP scheme, you also get an insurance cover of Rs 4,80,000 to the investors till the policy is completed. You can buy this policy both offline and online. No demat account is required for this. The lockin period of SIIP is five years. After this the investor can surrender it anytime. There is no surrender charge after five years. Keep in mind that its average maturity amount is based on the NAV growth rate of 15 percent per annum. But still you must take expert advice before investing anywhere.
