There are many types of schemes available. With these schemes you can hide the money and get more amount at once in the future. Many people invest in mutual funds for higher returns. However, this comes with investment as well as insurance.
However, LIC offers a SIIP plan. This will bring good profits. This is a non-participating, regular premium, individual life insurance plan. It can be taken online or offline. However the premium paid in this plan goes into equity, money market, bond market. If so, there are a total of four types of funds.
You can choose any of these. If the bond fund is selected, 60 per cent will be invested in government bonds and 40 per cent in the money market. 45 per cent in government bonds, 40 per cent in money bonds, 15 per cent in equity markets, 30 per cent in government bonds, 40 per cent in money markets, 30 per cent in equity markets, 40 per cent in government bonds and 40 per cent in Growth Fund. Percentage invested in the equity market.
The policy term ranges from 10 years to 25 years. You can save at least Rs 4,000 per month or Rs 40,000 per year. If a 30-year-old person takes out a policy with a 25-year term . If you select a premium of Rs 10,000 per month .. then you have to pay a premium of Rs 1,20,000 per year.
The coverage is 10 times the annual premium. That is Rs.12,00,000 Sum Assured. Returns are between 4% and 8% if the bond fund is selected. 40,04,293 + Guaranteed Auditions at maturity as per 4% returns calculation.
At the rate of 8%, you will get Rs.69,17,669 + guaranteed auditions at maturity. That means you can get returns up to about Rs.70,00,000.
