Investment Scheme: Nowadays, everyone is thinking about investing. If you are also looking for an investment scheme where you can get safe returns, then this LIC scheme can help you. These types of savings plans are usually for the long term, such as 20 to 25 years. When the money remains invested for a long time, the interest and bonus earned on it gradually start to show a significant impact. The amount grows automatically over time, and eventually, a substantial fund is created.
How much money is deposited in total?
If a person sets aside just Rs 150 every day and this continues for 25 years, the total deposited amount becomes approximately Rs 14 lakh. This money is deposited in small installments, so there is no heavy burden at once, and the habit of saving is also maintained.
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How Rs 14 lakh becomes Rs 19 lakh
Many insurance and money-back plans not only return your deposited amount but also add bonuses and other benefits. Due to these additional benefits, the total amount at maturity can increase to approximately Rs 19 lakh. However, the final amount depends on the terms and duration of the plan.
Money can also be received in between
Some plans have a money-back option, where instead of receiving the entire amount at the end, a part of it is received at fixed intervals. This can help with children’s education, any necessary expenses, or other needs, while the remaining money remains secure for the future.
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Preparing for children’s future
These types of plans are specifically designed keeping in mind the future of children. This fund is very useful for major expenses like school, college, higher education, or marriage. If the investment is started when the child is young, the benefits can be even greater.
Security, along with investment
A major feature of these plans is that they provide insurance coverage along with savings. If something unfortunate happens to the investor during the policy term, the family receives a predetermined amount or benefit, which secures their financial future.
Who is this method for?
This option may be suitable for those who want to stay away from the fluctuations of the stock market and want to build a fixed sum for the future without taking too much risk. However, it is essential to thoroughly understand the terms, returns, and duration of the plan before investing to avoid any problems later on.