Question: Which Policy Gives Maximum Returns?

Which is the best LIC policy for 10 years?

More videos on YouTubeLIC PlansType of PlanPolicy Term (in years)LIC Jeevan AmarPure Term Insurance plan10 – 40LIC Tech Term PlanPure Term Insurance plan10 – 40LIC New Children’s money-back PlanTraditional money-back Child Plan25 years – Age at EntryLIC New Jeevan AnandEndowment Plan15 – 352 more rows.

What is the maximum age for LIC?

FOR BASIC PLANAge at entryAge of the Life Assured- 20 to 60 years (age nearest birthday)Minimum Sum AssuredRs. 50,000 /-Maximum Sum assuredNo limit. Sum Assured will be in multiples of Rs.5,000 /- only.ModeYearly, Half-yearly, Quarterly, Monthly or through salary deductions in case of regular premiums.2 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. … Policy term = 20 years.

Do I get money back if I cancel my term life insurance?

If you have a term life policy, you won’t get any refund or cash if you cancel your policy or let it lapse. (Whole life policies with a cash value may provide some cash when canceled.)

What happens if you don’t die during term life insurance?

If you outlive your term life insurance policy, the funds are forfeit. … The premiums from individuals who don’t die while their policies are in force ultimately support the generous payouts that insurance companies can pay to those who do.

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 is LIC maturity benefit?

20% Maturity Benefit : The policy matures on your survival to the end of the policy term. All bonuses declared up to maturity date will be paid in a lump sum. Supplementary/Extra Benefits : These are the optional benefits that can be added to your basic plan for extra protection/option.

Which is the best LIC policy in 2019?

Best LIC PlansLIC PoliciesPlan TypePolicy TermLIC Jeevan UmangWhole Life Insurance100 years minus(-) the age at entryLIC Jeevan AmarTerm Assurance Plan10 years-40 yearsLIC Money Back 25 yearsMoney Back Policy25 yearsLIC New Jeevan AnandEndowment Plan15 years-35 years1 more row

What life insurance gives you money back?

You buy a return-of-premium term life insurance policy, perhaps for a 20- or 30-year term. If you die during that time, your beneficiaries receive the death benefit. If you outlive the policy, you get back exactly what you paid in (with no interest). The money back is not taxable.

How can I double my money?

Here are some options to double your money:Tax-free Bonds. Initially tax- free bonds were issued only in specific periods. … Kisan Vikas Patra (KVP) … Corporate Deposits/Non-Convertible Debentures (NCD) … National Savings Certificates. … Bank Fixed Deposits. … Public Provident Fund (PPF) … Mutual Funds (MFs) … Gold ETFs.More items…

Which policy is best for child?

10 Best Child Insurance PoliciesBajaj Allianz Young Assure.LIC Jeevan Ankur.HDFC Life YoungStar Udaan.Reliance Nippon Life Child Plan.Aviva Young Scholar Advantage.Birla Sun Life Insurance Child Plans.SBI Life – Smart Champ Insurance Plan.Exide Life Mera Aashirvad.More items…•

Which LIC policy is going to close?

Among the non-linked indebtedness insurance plans of LIC which are being discontinued are, ‘Single Premium Endowment Plan, New Endowment Plan, New Money Back-20 Years, New Jeevan Anand, Anmol Jeevan 2, Limited Premium Endowment Plan, New Children Money Back Plan, Jeevan Lakshya, Jeevan Tarun, Jeevan Labh, New Jeevan …

What are the 3 types of life insurance?

There are three major types of whole life or permanent life insurance—traditional whole life, universal life, and variable universal life, and there are variations within each type.

Which is best money back policy?

Best Money Back Policies in India 2020Money-Back PlansPlan TypeMaximum Entry AgeAegon Life Regular Money Back Insurance PlanMoney-back plan with life coverageBajaj Allianz cash AssureTraditional money back plan54 yearsBharti AXA Life Child AdvantageTraditional participating savings plan55 years37 more rows

Which insurance is best for investment?

Best Investment Plans in India to Invest in 2020Investment PlansPlan TypePolicy TermBajaj Allianz Retire RichUnit-Linked pension plan7 – 30 yearsCanara HSBC Smart Monthly Income PlanULIP Plan5 – 30 yearsEdelweiss Tokio Guaranteed Income PlanULIP Plan5-25 yearsExide Life Weath MaximaULIP plan10, 15-20 years16 more rows

Is PPF better than LIC?

The Public Provident Fund tends to provide a far superior rate of returns compared to an LIC policy like Jeevan Anand. What you should do is invest in the PPF and take a term policy online, which is cheaper and faster. In the term policy you do not get your money back, but, you are provided with solid insurance.

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.

Is life insurance a waste of money?

Myth 1: Life Insurance Is a Waste Of Money. Life insurance is bought to protect ourselves from the contingency of untimely death. It would take care of the living expenses of your family if you die young. … Term policies that cover the risk of untimely death are cheap and most ideal for providing life coverage.

What is a 5 year term life insurance policy?

A five year term life insurance plan comes with low and affordable premium rates, depending on the age of the policyholder. You also have the flexibility to select payment modes and premium amount. Financial Planning – A 5 year term life insurance plan can help you plan your future expenses in advance.

Can I cash out my term life insurance policy?

No, term life insurance pays a death benefit to your beneficiary if you die within the policy’s term. Otherwise, it does not have any cash value. Once the policy has accumulated enough cash value, you can use it to pay premiums, or you can borrow against the value. …

Is LIC policy a good investment?

Insurance policies are best investment option for protection and investment. … Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.