Life Insurance Corporation (LIC) offers a huge number of protection strategies to investors looking to develop their limited quantity of cash paid month to month into an enormous aggregate at the hour of development of the plan.
In one such strategy, LIC is offering protection cover alongside a great profit from your cash. The state-claimed insurance agency has named the strategy as LIC SIIP, which is a unit-connected, normal charge individual life coverage plan.
LIC SIIP features
LIC is offering 4 sorts of venture assets in this arrangement. You can put resources into any of your preferred plans. You can likewise settle on paying the portions of the approach on a month to month, quarterly, half-yearly or yearly premise.
How to purchase LIC SIIP?
You can begin putting resources into the LIC SIIP strategy through disconnected and online modes. The LIC SIIP’s plan number is 852 and UIN is 512L33C01. The approach is effectively accessible for contributing on LIC’s site.
There is additionally an elegance time of 30 days for premium installment on a quarterly, half-yearly and yearly premise. For regularly scheduled payment, you’ll get a beauty time of 15 days.
Maturity time of LIC SIIP plan
The minimum age limit for this SIIP plan of LIC is 90 days and the maximum is 65 years. You can decide on the choice of paying a premium for quite a long time to 25 years. There is no restriction on maximum cutoff on the superior sum, which implies that you can contribute however much you need.
Be that as it may, the base month to month premium ought to be Rs 4,000, while it is Rs 40,000, Rs 22,000 and Rs 12,000 for yearly, half-yearly, and quarterly regularly scheduled payments.
How to get most extreme advantages from the LIC SIIP Plan?
In the event that a investor beginnings putting resources into the LIC SIIP Plan from the age of 30 years for the following 25 years, then, at that point, the development sum could remain at Rs 70 lakh. For this, a investor needs to deposit a premium of Rs 30,000 at regular intervals.
During the said time-frame, the financial backer would have contributed around Rs 25 lakhs. It is critical to take note of that the financial backer needs to choose the 8% loan fee choice from the rundown of plans presented under the LIC SIIP policy to receive the greatest rewards.
