LIC Monthly Investment Plans

What are LIC Monthly Investment Plans?

The LIC Monthly Investment Plan offered by the LIC of India provides flexibility to the policyholder to choose their preferred investment term, which can range from five years to twenty years. The plan also provides the option of choosing between two different funds - equity-based or debt-based - depending on an investor's risk appetite and financial goals.

Furthermore, LIC's monthly investment plan provides life insurance coverage which acts as a safeguard for the family in case of an untimely death. Investors can also choose to add riders such as accidental death benefit or critical illness cover for added protection.

Best LIC Monthly Investment Plans

Benefits of LIC Monthly Investment Plan

Below-mentioned are some of the benefits that one may avail with LIC Monthly Investment Plans. Take a look:

• One of the key benefits of LIC Monthly Investment Plan is that it allows investors to benefit from rupee cost averaging.

• Additionally, the plan offers guaranteed returns which provide a sense of security to investors.

• The majority of the plans frequently give bonuses to the policyholder. The total sum at the end of the tenure includes the terminal bonus, reversionary bonus, and interim bonus.

• Another advantage of investing in LIC's monthly plan is that it allows for easy liquidity, meaning investors can withdraw their funds at any time in case of an emergency.

• Moreover, the plan offers tax benefits under section 80C of the Income Tax Act, allowing investors to save on taxes while also earning returns.

How to Buy LIC Monthly Investment Plans?

Step 1: First, you need to visit LIC.

Step 2: Next, fill in the form with your name and contact number.

Step 3: Click on View Plans.

Step 4: After this, on the next page fill in your age and current city.

Step 5: You can check the plans available and customize them as per your needs. Once done, you can pay your premiums online.

Note: Policybazaar also provides door-to-door advisors to resolve your queries.

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To Conclude

LIC's monthly investment plan is one such option that aims to provide a disciplined approach towards investing. However, it is important to weigh the pros and cons of LIC's monthly investment plan against other investment options. Compared to any other form of investnet, LIC's monthly investment plan offers higher returns over a longer period. It also allows for flexibility in terms of the amount invested each month.

Overall, LIC's monthly investment plan is a great option for individuals looking for a flexible and secure investment that also provides insurance coverage and tax benefits.

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