New Delhi: The various schemes of Life Insurance Corporation (LIC) are considered to be a safe haven for investment as these assure guaranteed returns. Also, LIC is wholly managed and controlled by the central government, which further boosts depositors’ confidence to park the money.
People who are averse to pumping their money in the stock market, Mutual Funds or other investment schemes linked to the market, prefer deposit schemes launched by LIC for fixed returns. However, in an attempt to cater to the needs of every section of the society, LIC also runs schemes linked to the market.
LIC Index Plus
LIC Index Plus scheme allows investors to invest in two investment options Flexi Growth Fund (Nifty100 based) or Flexi Smart Growth Fund (Nifty50 based) as per your risk appetite. The plan assures guaranteed additions from time to time, which increases your fund. The plan’s term ranges from 10 to 25 years.
LIC Investment Plus
This is a unit-linked scheme where the depositors are required to pay the premium only once. The scheme allows partial withdrawals after five years. Also, there is an option of accidental death benefit. The duration of the plan is 10 to 25 years.
LIC Lifetime Awareness
The particular LIC plan provides lifelong protection along with annual savings (Survival Benefit). The investor receives the benefits after the premium term ends, and ultimately gives a big benefit to the policy holder’s family on maturity or death.
LIC Life Festival
LIC Life Festival ensures lifetime protection and comes with the option of regular income or flexi income at the end of the premium term. Also, a guaranteed addition is also assured every year.
LIC New Pension Plus
This unit-linked pension plan is best suited for people looking for retirement benefits. The scheme comes with the options of single or regular premium, and can create a strong fund for retirement by choosing from four investment options, switching and getting guaranteed addition.
LIC New Life Shanti
LIC New Life Shanti is a single-premium deferred annuity plan in which the depositor is assured a fixed return by making a single payment. The plan has two options – single or combined life and ensures financial security in retirement.