Life Insurance Corporation of India (LIC) is a government insurance company which offers a variety of insurance and investment options. Most of LIC’s policies are liked by people. If you want to invest a little bit and get a lot of returns, then this wish can be fulfilled. For this, LIC has launched a plan and its name is LIC New Money Back Policy.
The specialty of this plan is that every year the insured gets money back, better returns in maturity, as well as tax insurance benefits in 5 years. This money back plan of LIC is a non-linked life insurance policy which gives guaranteed returns and bonuses. You will get 2 options of 20 years and 25 years to take this plan. This policy is a completely tax free policy. Along with this, there will be no tax on the amount received on its interest, premium payment and maturity. If you invest Rs 160 every day for 25 years in this plan, then after 25 years you will get up to Rs 23 lakh.
According to LIC, a person can take this plan from 13 years to 50 years. In this plan, every fifth year i.e. 5th year, 10th year, 15th year, 20th year, you will get 15-20% money back. But this will happen only when at least 10% of the premium is deposited. With this, investors will be given a bonus on maturity. Accidental death will also be available in this plan for a total of Rs 10 lakh. On maturity, investors will also be given a bonus.
(Source: moneycontrol.com)
Ms Kalinga