Life Insurance Corporation of India, the country’s largest insurance company, has several plans for consumer investment. By investing in this plan, the customer can add a lot of money for his future. LIC offers many such policies that most people prefer. Some of these policies are long term and short term too. In this case, if you want to invest a little and get a lot of return, this wish can be fulfilled. LIC has launched a scheme for this. Named LIC New Money Back Policy.
LIC’s Money Back Plan is a non-linked life insurance policy.
Which guarantees returns and bonuses. The specialty of this plan is that the insurer gets the money back in 5 years, gets better return on maturity, as well as tax insurance benefit every year.
You will have two options of 20 years and 25 years to take this plan. This policy is a completely tax free policy. With this, there will be no tax on its interest, premium payment and maturity amount. If you invest Rs 160 per day in this scheme for 25 years, you will get Rs 23 lakh after 25 years.
According to LIC, the scheme is open to anyone between the ages of 13 and 50. In this scheme, every 5th year i.e. 5th year, 10th year, 15th year, 20th year, 15% money will be refunded. But this will only happen when at least 10 per cent premium has been deposited.
Have With this, investors will be given a bonus on maturity. You will also get the benefit of accidental death in this plan of Rs 10 lakh in total. Upon maturity, investors will also be given bonuses.