If you are planning to invest in LIC, then you can invest in LIC Regular Premium Unit Linked Plan, SIIP. In this plan, you will have to deposit 40 thousand rupees annually.
Nowadays people have many options in the matter of investment, but the importance and credibility of Life Insurance Corporation of India (LIC) still remains among the people. From time to time, LIC keeps coming up with such schemes which give you guaranteed returns. If you are planning to invest in LIC, then you can invest in LIC Regular Premium Unit Linked Plan, SIIP. In this plan, you will have to deposit 40 thousand rupees annually for 21 years. On maturity, you will get more than 3 times the amount. Know about this plan.
What is SIIP
Systematic Investment Insurance Plan is called SIIP. In LIC’s SIIP plan, you have to pay premium for 21 years. You can pay the premium monthly, quarterly, half yearly and annually as per your convenience. If you choose the option of annual premium in this, then you will have to deposit Rs 40000 annually. 22000 for half yearly option, Rs.12000 every three months for quarterly option and Rs.4000 for monthly option. There will be a grace period of 30 days for depositing premiums on quarterly, half-yearly and annual basis and 15 days grace period for monthly premiums.
This way the profit will be more than 3 times
By depositing Rs 4000 monthly for 21 years, your total investment will be Rs 10,08,000. While paying the premium annually, you will invest a total of Rs 8,40,000 in 21 years. On maturity after 21 years, apart from the invested amount, you will get a profit of Rs 34,92,000 i.e. around Rs 35 lakh, which will be more than three times of your invested amount.
Insurance will also cover
Under the SIIP scheme, the investors also get an insurance cover of Rs 4,80,000 till the maturity of the policy. You can buy this policy both offline and online. No demat account is required for this. The lock-in period of SIIP is five years. After this, investors can surrender it anytime. After five years, there is no surrender charge in this. Keep in mind that its average maturity amount is based on NAV growth rate of 15% per annum. But still you must take expert advice before investing anywhere.
