Quick Answer: Is LIC Good Investment?

Which is better LIC or post office?

You have to pay the comparatively higher premium for LIC.

You can purchase the policies only from the post offices.

The policies can be purchased either through the agents or by visiting the LIC office.

The company has recently introduced online term plans and pension plans..

Is LIC better than FD?

Comparing between FD and Life Insurance Plan Thinking of short and long term investments, FDs are better. Life insurance plan are suitable only as long term investment options. 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.

How can I double my money in bank?

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…

How is LIC maturity amount calculated?

Loan Availability – Acts as an LIC loan calculator; you can then decide how much loan on LIC policy you can avail. Paid-up Value- This is calculated by multiplying the sum assured with the ratio of the number of premiums paid to the number of premiums payable.

Is it good time to invest?

When you are investing for a short period of three years, your priority should be to protect the capital. Therefore, you should try to invest the money in bank deposits or short-term debt mutual funds. … Do not invest in high risk options because you do not have the time to recover if there are any losses.

What is lic interest rate?

LIC Fixed Deposit Features. … FD Tenure: Ranges between 18 months to 5 years. Interest Rate Range: 5.50% p.a. to 5.60% p.a. Senior Citizens FD Rate: 5.75% to 5.85% p.a. Highest Interest Rate: As per today’s rate, LIC Housing Finance’s highest interest rate on FD is 5.60% offered for a tenure of 5 years.

Which is the best LIC plan for investment?

Top 6 LIC Plans In India 2020LIC PlansType of PlanPolicy Term (in years)LIC 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 – 35LIC Jeevan UmangWhole Life + Endowment Plan100 – Age at Entr2 more rows

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.

How can I invest 20k wisely?

How To Invest 20kBuy Shares or ETFs. Buying shares online is very easy. … Invest in Bitcoin (and other cryptocurrencies) Cryptocurrency is a great way to invest your cash, especially if you have 20k. … Start A Business (online or offline) … Put Your Money in the Bank. … Start an Emergency Fund ASAP. … Get Rid of Debt. … Contribute To Your Super Fund.

How can I invest 10 lakhs wisely?

Have you invested your ₹10 lakhs in these 10 ways?10 things to do with 10 lakhs. 1.Emergency funds. 2.Short-term funds. ELSS funds. 4.High growth funds. Its all about gold. 7.Mediclaim. 8.Term Insurance policy. Pay off your high-cost debt. 10.Retirement planning.Conclusion.

Is money safe in LIC?

MUMBAI : Refuting claims of its weak financial position, national insurer Life Insurance Corporation (LIC) on Wednesday assured its millions of policyholders that their money is safe and secure as its “financial health is sound.