There are more than 48 plans in LIC OF INDIA which covers the requirement of each and every individual. But even then some people come up with certain requirements which can not be fulfilled by single plans. So If two or more plans are clubbed together then requirements of each and every individual can be fulfilled.
The details of one such LIC Plan is:
Pay Rs 1,00,000/- per annum for 10 yrs and get guaranteed income of Rs 75000 p.a. till 100yrs of age with a maturity of Rs 10,00,000/- at the age of 80yrs and whole life insurance of Rs 10,00,000 +.
There is one such plan with Kotak Mahindra Life Insurance Company. The comparison of both the plans are as:
FEATURES | LIC GUARANTEED INCOME PLAN | KOTAK ASSURED INCOME PLAN |
PREMIUM | RS1,00,000 | RS1,00,000 |
INSURANCE | RS10,00,000 FOR LIFE TIME | RS10,00,000 ONLY FOR 30YRS |
INCRESING INSURANCE | YES | NO |
RETURNS | RS 75,356 FOR LIFE TIME | RS 1,01,000 ONLY FOR 20YRS |
MATURITY | RS 10,00,000 AT THE AGE OF 80YRS | RS 10,00,000 AT THE AGE OF 70YRS |
INSURANCE AFTER MATURITY | RS16,00,000 AND INCREASING | NO INSURANCE |
LOAN AFTER MATURITY | RS 7,74,000 | NIL |
Please find the illustration of LIC Guaranteed Income Plan .
At LIC all your requirements can be fulfilled. For more details visit LIC HELPLINE