Is LIC good investment?

Is LIC Plan a good investment? Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.

Which LIC policy gives more return?

Two of LIC plans namely Jeevan Umang and Jeevan Labh are reckoned among the plans which render maximum returns. Both of the plans are deemed to be good in terms of returns with different features and benefits.

Which is the cheapest LIC plan?

Not only LIC of India’s new term plan Jeevan Amar is much cheaper than its just withdrawn Amulya Jeevan Plan, but it is also more flexible and has much wider features. The premium amount of LIC’s Jeevan Amar Plan will be different for male and female as well as for smokers and non-smokers.

Is LIC better than FD?

Fixed deposits are best for both short and medium term investments whereas life insurance plans are designed for long term investments. You can invest for a period of as low as 7 days in fixed deposits unlike a life insurance plan wherein you need to invest for at least 10 years. You can invest a minimum amount of Rs.

Why LIC term plan is so costly?

It is possible that LIC’s administration costs are high because its sales channel is dominated by agents, and the commissions paid to them is charged on the policyholder as higher premium. But even in its online term policy where the cost is low, LIC’s plan is pricier to those of peers.

How is LIC maturity amount calculated?

How is Maturity Calculated? The exact Maturity Value cannot be calculated but one can calculate a close estimate of the value to get an idea of the benefit at the end of the term. The basic format is Sum Assured + Bonuses + Final Additional Bonus (if declared).

What is the rate of return in LIC policy?

So, the compounded annual return or the Internal Rate of Return (IRR) – with premium payment of Rs 1,14,959 in the beginning of each year for 10 years and the maturity value of Rs 17,50,000 at the end of 15th year would be 4.02 per cent.

Is Jeevan Labh good policy?

To add to it, the LIC Jeevan Labh Plan offers death as well as maturity benefits with additional profit participation bonus. This plan has been rated high as one of the best-selling endowment plans offered by LIC. Being available to a group age of 8-59 years, this plan offers a host of benefits to the policyholder.

Is salary slip required for LIC policy?

No, you cannot purchase a term insurance plan without income proof. It is essential, as it helps the insurance company decide the sum assured and the risk involved in insuring the applicant..

What is the maturity amount of LIC Jeevan Shree?

The maturity benefit of the policy includes the Sum Assured + Guaranteed Additions at the rate of 75 per 1000 Sum Assured + Loyalty Additions. As per the latest bonus rates declared by LIC of India Loyalty additions for the 25 Year term are Rs 1100 per 1000 Sum Assured.

Is LIC term plan best?

LIC term plans can secure your family against any loss of income that the family might. People favor these plans even though they do not offer any maturity. The LIC term plan allows insurance buyers to buy a high amount of coverage levels at very low premiums.