Question: Which Is The Best LIC Policy For 10 Years?

Which LIC plan is best for child?

Best LIC Policy for ChildLIC Children Money Back Plan.

LIC Child Money Back Plan is a traditional, participating money-back insurance policy which pays the benefit in important times/ages of the child to ensure the child receives the required finance for higher education and marriage.

LIC Jeevan Tarun..

Is LIC better than FD?

Fixed deposit is considered as a better investment option as it is exclusively designed for your investment as well as saving needs. … The minimum period of investment in a life insurance plan is about 10 years. The minimum amount that you can deposit in a FD plan is Rs. 1,000.

Which is the best LIC policy in 2020?

More videos on YouTubeLIC PlansType of PlanPolicy Term (in years)LIC New Children’s money-back PlanTraditional money-back Child Plan25 years – Age at EntryLIC New Jeevan AnandEndowment Plan15 – 35LIC Jeevan UmangWhole Life + Endowment Plan100 – Age at EntrLIC Jeevan LabhEndowment Plan16/21/252 more rows

How is LIC maturity amount calculated?

Maturity benefit would be equal to the Sum Assured + Bonus Amounts which have been received throughout the policy term + any Final Addition Bonus if declared. Now whenever the death of the policyholder happens (even after the policy term), the nominee will additionally get the Sum Assured amount as the Death Benefit.

Which LIC plan gives maximum returns?

LIC Plans with Highest Return. LIC offers a wide range of life insurance policies designed to provide higher returns. The following plans by LIC provide you with the maximum benefits – Jeevan Akshay VI, New Children’s Money Back Plan, New Endowment Plan, New Money Back Plan- 20 years.

Is there any LIC policy for 5 years?

Jeevan Mangal Plan by LIC is a term insurance plan which can be brought for a term of 5 years only through the single premium payment option that pays returns in the form of a premium on the maturity of the plan.

What happens if I stop paying LIC premium after 5 years?

Guaranteed Surrender value = 30% of all premiums paid after deducting the first year’s premium. Special Surrender value = 80% of Maturity Sum Assured if you have paid premiums for 3 or more years but less than 4 years. 90% of the Maturity Sum Assured, if you have paid for 4 or more years but less than 5 years.

What is the surrender value of LIC policy after 10 years?

The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.

How can I double my money in 5 years?

How the Rule Works. To use the Rule of 72, divide the number 72 by an investment’s expected annual return. The result is the number of years it will take, roughly, to double your money.

What is the maximum age for LIC?

FOR BASIC PLANAge at entryAge of the Life Assured- 20 to 60 years (age nearest birthday)Age of the Life Assured at maturityMaximum 70 years (age nearest birthday)TermAll terms from 10 to 25 years. In case of single premium mode minimum term shall be 5 Years.Minimum Sum AssuredRs. 50,000 /-2 more rows

What is the safest investment with the highest return?

Investment #1: High-Yield Savings Account.Investment #2: Certificates of Deposit (CDs)Investment #3: High-Yield Money Market Accounts.Investment #4: Treasury Securities.Investment #5: Government Bond Funds.Investment #6: Municipal Bond Funds.Investment #7: Short-Term Corporate Bond Funds.More items…•

Which investments have the best returns?

Here are the best investments in 2020:High-yield savings accounts.Certificates of deposit.Money market accounts.Treasury securities.Government bond funds.Short-term corporate bond funds.S&P 500 index funds.Dividend stock funds.More items…•

Where is the best place to invest money now?

Introduction: What are the Best Places To Invest Money Today?#1 – Gold and/or Silver.#2 – Cash.#3 – FDIC Insured Banks & Accounts.#4 – Bet Against Commercial Lending.#5 – Farmland.#6 – Rental Properties.#7 – Pay Off Your Home.More items…•

Can I withdraw LIC before maturity?

It is the option to exit from life insurance product before maturity wherein policyholder will get the amount which is called as Surrender Value. A regular premium policy will be eligible for surrendering after the policyholder has paid the premiums continuously for 3 years.

How is surrender value calculated?

SPECIAL OR CASH SURRENDER VALUE: Paid-up value is calculated by multiplying the original sum assured and the ratio of the number of premiums paid to the number of premiums payable.