If you are also planning to invest in LIC, then you can invest money in LIC Regular Premium Unit Linked Plan, SIIP for profit. Know about it.
Whenever it comes to investment, the name of Life Insurance Corporation of India (LIC) comes first on people’s lips. For years, people have been considering investing in LIC as safe. In today’s time, despite the presence of all the investment options, the credibility of LIC remains among the people. LIC is the largest insurance company in the country and runs a variety of schemes. If you are also planning to invest in LIC, then you can invest money in LIC Regular Premium Unit Linked Plan, SIIP for profit. Under this scheme, you will have to invest about 10 lakh rupees for 21 years and you will get a profit of about 35 lakhs, that is, after the scheme matures, you can get 45 lakh rupees. Know here the important information related to this scheme.
Learn how to profit
Systematic Investment Insurance Plan is called SIIP. In LIC’s SIIP scheme, you have to invest around Rs 4000 every month. This investment has to be made for 21 years. At Rs 4000 per month, you will invest Rs 48000 in one year and Rs 10,08,000 in 21 years. When this scheme is completed, then you can get a total of 45 lakh rupees. Means after the completion of the scheme, you will get a profit of Rs 34, 92,000 i.e. around Rs 35 lakh.
Premium can be deposited in four ways
Under the SIIP scheme, you can deposit the premium in four ways (monthly, quarterly, half-yearly and annually). Instead of paying Rs 4000 monthly, if you pay the premium for the year in one go, you will have to pay Rs 40,000 instead of Rs 48,000. Apart from this, only Rs 22,000 will have to be paid on a half-yearly basis and Rs 12,000 on a quarterly basis. 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.
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.
