New Delhi. Life Insurance Corporation of India has several schemes for consumer investment. By investing in a scheme, the customer can add good money to his future. LIC offers many such policies which are liked by all. Some policies are for long term, some are for short term. If you want to get a lot of returns from a small investment, then LIC has launched a plan for you. Whose name is LIC New Money Back Policy.
What is LIC New Money Back Policy
This money back plan of LIC is a non linked life insurance policy. In which guaranteed returns and bonuses are given to the customer. In this plan, the insurer is given money back, better return in maturity, as well as tax insurance benefit every 5 years.
The amount received on maturity is tax free. There
are two options in this plan, 20 years and 25 years. This policy is a tax free policy. In this policy, there will be no tax on the amount received on interest, premium payment and maturity. If you invest Rs 160 every day for 25 years, after 25 years you will get Rs 23 lakh.
According to Bima Company, people from 13 years to 50 years will get the benefit of this plan , anyone from 13 years to 50 years can take this plan. This plan will also get 15 to 20 percent money back every 5th year, 10th year, 15th year, 20th year. But this will happen only when the premium is deposited at least 10 percent. Investors will also get benus on maturity. Accidental death will also be available in this plan.
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