LIC Policy: Invest just Rs 110 in THIS LIC plan, get three times return; Check return calculator | Personal Finance News
LIC SIIP Calculator: When it comes to investing, the Life Insurance Corporation of India (LIC) is one of the most trusted investment avenues. LIC is one of the preferred options because it mostly provides assured returns and many of its plan help in tax savings as well. The wide range of plans and policy gives investors multiple options to choose from for investment.
Every plan has specified eligibility and people can invest in that plan as per the eligibility. If you also want to invest money in the LIC scheme, then you can invest in LIC Regular Premium Unit Linked Plan, SIIP. In this scheme, if you invest Rs 40 thousand annually for 21 years, you will be given three times the amount upon maturity.
This Systematic Investment Insurance Plan, SIIP, requires investors to pay a premium for 21 years. In this plan, the premium can be deposited monthly, quarterly, half-yearly and yearly basis. It’s up to the investor if he/she chooses the annual or any other option. When it comes to annual premium payments, an investor will have to invest Rs 40,000 per year.
On opting for the half-yearly payment, you will have to pay a premium of Rs 22,000 every six months. For the quarterly option, an investor will have to pay Rs 12,000 per three months and on choosing the monthly option, you will have to pay a premium of Rs 4,000 every month which roughly means Rs 133 per day.
By depositing Rs 4000 monthly for 21 years, your total investment will be Rs 10,08,000. On maturity after 21 years, you will get around Rs 35 lakh in addition to the invested amount, which will be more than three times your invested amount. Under the SIIP scheme, investors are given an insurance cover of Rs 4,80,000.
The NAV of different plans of LIC is regularly updated and is available on LIC’s website.