One of the most attractive benefits of LIC plans is that they can help you double your money in 5 years. This is possible because LIC plans invest your premiums in a variety of assets, such as stocks, bonds, and government securities. These assets are known to generate good returns over time, which is why LIC plans can help you achieve your financial goals quickly and easily.
If you are looking for a smart way to invest and save your money, LIC plans are a great option. They offer a number of benefits, including:
- Safety and security: LIC plans are backed by the Government of India, which means that they are completely safe and secure.
- High returns: LIC plans invest your premiums in a variety of assets, which can help you achieve your financial goals quickly and easily.
- Tax benefits: LIC premiums are eligible for tax deductions under Section 80C of the Income Tax Act, 1961. This can help you reduce your tax liability and save money.
- Liquidity: LIC plans offer a number of liquidity options, which means that you can withdraw your money whenever you need it.
Better returns than conventional products | Attractive Life Insurance Cover | Tax Free Returns | Market Linked | Flexible | Savings | Individual Life Insurance Plan | Surrender possible after 5 year.
Peace of mind and security– LIC 5 year plans provide a range of benefits that can help you achieve your financial goals. Firstly, these policies offer a nice growth on your investment, providing you with peace of mind and security.
Lock-in period –Additionally, LIC’s 5-year policies come with a lock-in period, which means that you are committed to the investment for a fixed period of time. This lock-in period helps you stay disciplined and prevents impulsive decision-making, ultimately leading to better financial outcomes. It also acts as a safety net, shielding your investment from short-term market volatility.
Tax benefits – Moreover, LIC’s 5-year policies provide tax benefits under section 80C of the Income Tax Act. By investing in these policies, you can enjoy deductions on your taxable income, reducing your overall tax liability. This makes LIC’s 5-year policies a tax-efficient investment option, allowing you to maximize the returns on your hard-earned money.
LIC's Four Best 5 Year Plans
LIC’s 5-year policies offer a range of features that make them an appealing choice for investors. These policies provide different kinds of fund options to the investor according to his need and risk apetite. Growth Fund, Balanced Fund, Secured Fund, Debt Fund.
Growth fund: In growth fund of LIC 5 year plan, more than 70% of the money invested in stock market and 30% in money market instruments. This fund is ideal for individuals looking for high return coupled with life insurance coverage.
Balance Fund: This is the best fund where 50% of the fund is given exposure to equity and 50% to long term govt bonds. The fluctuations in terms of up and down are very less in this fund. It is known for consistent growth.
Secured & Debt Fund : They are safest funds in ULIPs. Around 30% of the money goes into the market and rest 70% in Money market instruments. They offer returns better than FD, flexibility & life insurance.
Buy Now ! LIC's Four Best 5 Year Plans
Choosing the right LIC 5-year policy for your investment goals requires careful consideration of various factors. Firstly, assess your risk appetite and financial goals. If you have a low-risk tolerance and prefer steady returns, secured or Bond fund in LIC SIIP, Endowment plus or LIC Nivesh Plus might be suitable for you. On the other hand, if you are comfortable with market volatility and seek higher potential returns, a growth fund in LIC SIIP, Endowment plus or LIC Nivesh Plus might be a better fit.
Next, consider your investment horizon. If you have a short-term goal, such as saving for a down payment on a house, LIC’s SIIP or LIC’s Endowment plus with balance or secured fund can provide you funds to meet your financial needs. However, if you have a long-term goal, such as funding your child’s education or planning for retirement, LIC’s SIIP or LIC New Endowment plus with growth fund can help you accumulate a substantial corpus over time.
Buy Now ! LIC's Four Best 5 Year Plans
To maximize returns with LIC’s 5-year policies, consider the following tips:
1. Start early: The power of compounding works wonders when you start investing early. By starting early, you can benefit from a longer investment horizon, allowing your money to grow significantly over time.
2. Stay invested: In LIC 5 year plan if you don’t want funds after 5year stay invested. Dont withdraw your funds or if you can continue, you should continue otherwise leave the fund as it is. It will also give you the guaranteed returns and bonuses.
3. Review your policy periodically: Regularly review your policy to ensure it is still aligned with your financial goals. If necessary, consider making adjustments to your investment strategy or switching to a different policy variant that better suits your evolving needs.
4. Riders: Riders are additional benefits that can be added to your policy to provide enhanced coverage. But for them you will be charged extra. So carefully decide whether you really need it or not. Don’t go for it unless you really need it.
5. Seek professional advice: If you are unsure about which LIC 5-year policy is right for you, consult our officers who can provide personalized guidance based on your unique circumstances and goals.
Buy Now ! LIC's Four Best 5 Year Plans
Investing in LIC’s 5-year policies is a straightforward process. Follow these steps to get started:
1. Research and choose or talk to us for professional guidance for the policy variant that best suits your investment goals and risk appetite.
2. Plan how much you want to invest per month. Minimum premium for LIC 5 year plan is 4000 p.m.
3. At LIChelpline.com we ll help to buy the required policy online. Before buying the policy, we ll provide you the pdf of the policy which can help you decide easily. The process is paper less. The payment will be done online. All payment methods are acceptable in LIC.
4. We ll provide you the link via LIC to make the payment.
5. All the information will be taken online. While processing the policy, the screen will be share with you so that you can see what is happening. The whole process is 100% transparent and secured.
6. Once your application is processed and approved, you will receive a policy document and other relevant details.
Buy Now ! LIC's Four Best 5 Year Plans
Conclusion: Is LIC’s 5-Year Policy the Right Investment for You?
It is a blend of security, growth, and tax benefits, making them a valuable addition to any investment portfolio. Whether you are planning for retirement, saving for your child’s education, or simply looking to diversify your investments, LIC’s 5-year policies can help you maximize your returns and achieve your financial goals.
However, it is important to carefully consider your risk tolerance, investment horizon, and financial objectives before investing in LIC’s 5-year policies.
Remember, investing is a long-term commitment, and it is crucial to stay disciplined, review your investments periodically, and make necessary adjustments along the way. With the right approach and a well-thought-out investment strategy, LIC’s 5-year policies can pave the way towards a brighter financial future. So, why wait? Start exploring LIC’s 5-year policies today and embark on your journey towards maximizing your investments.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. As the requirements are different for every individual. Please consult us for personalized guidance based on your individual circumstances.
Q: Can I surrender my LIC 5-year policy before the maturity date?
A: Yes, you can surrender your policy before the maturity date, but the money will be returned to you after 5 year or later.
Q: Can I take a loan against my LIC 5-year policy?
A: No, you can not take a loan against your LIC 5-year policy. The loan is not given in these plans as some or more amount of your fund is invested in stock market. Since there are chances of volatility so no loan amount is given in them.
Q: Are the returns on LIC’s 5-year policies taxable?
A: The returns on LIC’s 5-year policies are tax-free under section 10(10D) of the Income Tax Act. However, it is advisable to consult a tax advisor for personalized tax advice based on your individual circumstances.
Q: Can I change the premium payment mode for my LIC 5-year policy?
A: Yes, you can change the premium payment mode for your LIC 5-year policy. However, this can be done once a year. So if you are planning to changed to mode you should talk to your advisor in advance.
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