LIC: You get one crore rupees in LIC’s millionaire life benefit. This policy is designed to make a millionaire and it gives a return of one crore rupees.
If you want to collect your small savings and take big money at the same time, then LIC is a better option for you. LIC has a plan according to your smallest savings and you can save accordingly. However, if you can invest a little more every month, then LIC has a plan for you and the amount of return in it is also very high. The special thing is that in this amount, much more than the money deposited on your behalf is found in the return.
You get one crore rupees in LIC’s millionaire life benefit. This policy is designed to make a millionaire and it gives a return of one crore rupees. The special thing is that in this plan of LIC, the amount deposited on your behalf is very less and the benefit is much more. If you guess it, you get an interest of up to 70 lakh rupees in this policy, which is quite a big amount.
How much money to deposit?
If you talk about the amount to be deposited in this policy, then you have to deposit about 15 thousand rupees per month, that is, 500 rupees per day. If you deposit about 15 thousand rupees in it every month, then you have to deposit money in it for 16 years. According to this you deposit more than Rs 29 lakh at the end of 16 years i.e. 30 lakh rupees. You only have to deposit up to about 30 lakh rupees and in this you get 1 crore rupees in the return.
In the first year, you have to pay 15760 rupees every month, after that GST is reduced, then you have to pay 15420 rupees. In this case, you deposit Rs 2904901 and you will get 9919800 rupees in the return. There are two types of bonuses, in which one bonus is Rs 46 lakh and second bonus is about Rs 13 lakh.
How does policy work
Although this policy is 25 years old, but you only have to deposit money in this policy for 16 years. You must be wondering why a 16 year payment has to be made in a 25 year policy. Actually, it is said that for the remaining 9 years LIC pays your installments. That is, after depositing the money for 16 years, you have to wait for 9 years and for a total of 25 years to take full advantage of this policy. There is a locking period of 9 years.
There are many advantages
On taking this policy, along with the policy amount, your family gets insurance of Rs 40 and Accidental cover of 80 lakhs. That is, if something happens to you unfortunately, then your family gets a benefit of up to 80 lakh rupees. Also, this insurance will keep increasing every year. This policy of LIC is being discussed a lot and if you save this amount from your salary, then it can be considered the best policy for you.