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How to become crorepati by investing in LIC?

The corona crisis has taught many people in many different ways both positively and negatively. The continuous lockdowns have made many unemployed and many more incur losses in their businesses and daily wage laborers have suffered very badly with no work, no food, and no money struggling all these 12-15 months. But the most important and major lesson to learn from the pandemic situation and imposition of lockdowns is that one needs to invest or save his money on a uniform basis on the right platforms for securing his future.

It may be for investing in life insurance or health insurance or investing in mutual funds or Systematic Investment Planning (SIP)Life Insurance Corporation etc because we never know when what might happen to us so it is necessary for us to plan from now itself. After this pandemic situation, we definitely have to learn that we have to invest our money uniformly so that we do not face any kind of issues related to money.

Therefore, one of the best ways to invest in investing in Life Insurance Corporation (LIC) wherein you will have to just invest Rs 160 per day in a particular policy which will make you a Lakhpati after a few years. There is not much risk involved as you are not investing in risky ventures like stock markets or other related instruments. Hence let us know what the policy of Life Insurance Corporation (LIC) is all about.

What is the new money back policy floated by Life Insurance Corporation (LIC)?

The money-back policy of Life Insurance Corporation is one of the most popular policies of Life Insurance Corporation (LIC) in today’s market. This policy is really an interesting one and many investors have shown interest in this particular policy. This policy has 2 types of Life Insurance Corporation (LIC) Maturity plan wherein the investor has to first choose the term of the policy whether for 20 years period or 25 years period. Here for example let us assume that a policy taker plans to invest in a 25 years period policy. So he will have to invest Rs 160 per day wherein on maturity he will be receiving Rs 23 lakh.

In this, the Annual Premium for the policy taker will total up to Rs 60,000 a year. Any person who invests in the Life Insurance Corporation (LIC)’s New Money Back Policy, he/she is entitled to get 15 – 20% of their money back every 5 years. Apart from this, investors will be receiving bonuses on the maturity of this policy and one of the main advantages of this policy is that it is a tax-free policy wherein one will receive a tax rebate on interest and premium payments. Every 5 years, you will be receiving approximately Rs 1,50,000 and around Rs 11 lakh as a bonus and an additional bonus of Rs 2.25 lakh for which the minimum age should be 13 years. 

One more new policy? Which should I choose?

There is another new policy of Life Insurance Corporation (LIC) that is New Children’s Money back plan where it is focussed on children and their education and marriage. There is also a life insurance cover for children under this policy. The money you will be receiving after 5 years will be the same as in the above policy. That is, Rs 1,50,000 and Rs 11 lakh as a bonus with an additional bonus of Rs 2.25 lakh. Therefore choose wisely the policy suitable for you and your income status and choose the time period with detailed analysis. 


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