LIC Investment Plan – If you’ve ever wondered how to turn a small amount of daily savings into a substantial return, Life Insurance Corporation of India (LIC) might have an answer for you. LIC, known for its trusted insurance and savings products, has introduced a plan that lets you invest just Rs 45 a day and potentially receive up to Rs 25 lakh after the policy matures. Sounds promising, right? Let’s dive into the details of how it works.
What Is This Rs 45 a Day Plan by LIC?
LIC offers several savings-cum-insurance plans, and this particular one is likely an endowment or money-back policy. These plans combine savings, insurance protection, and bonus payouts over time. The highlight here is that by setting aside about Rs 1350 a month, you can build a large financial corpus over 20 to 25 years.
The total investment across the policy term could be around Rs 4 lakh, and the expected return can go up to Rs 25 lakh. This includes the guaranteed sum assured and bonuses LIC adds each year.
Main Features at a Glance
Here’s what makes this policy attractive:
- Daily Contribution: Just about Rs 45 per day
- Monthly Premium: Around Rs 1350
- Total Investment Over Time: Roughly Rs 4.05 lakh
- Maturity Amount: Approximately Rs 25 lakh, depending on bonus rates
- Policy Duration: Flexible between 20 to 25 years
- Eligibility: Open to individuals aged 18 to 55
- Life Cover: Financial protection for your family in case of unfortunate events
Why This Plan Stands Out
This plan is designed with the average working person in mind—someone who wants financial security without having to invest huge sums of money each month. Here’s why it might be a great choice:
- Affordable Long-Term Savings :Saving Rs 45 a day is manageable for many, even those just starting their careers. Over the years, that small daily effort adds up to a big payout.
- Insurance Protection : Besides savings, you’re also covered by life insurance throughout the policy term. This ensures that your loved ones are financially secure even if something happens to you.
- Tax Advantages : Premiums paid under this plan are eligible for tax deductions under Section 80C, reducing your overall tax liability.
- Bonus Benefits : LIC declares annual bonuses based on its performance, which are added to your policy and increase your final payout.
- Loan Facility : After paying premiums for a few years, you can borrow money against your policy if needed, which adds financial flexibility.
Breakdown of How You Reach Rs 25 Lakh
Here’s a basic example to show how the plan works:
- Daily Savings: Rs 45
- Monthly Payment: Rs 1350
- Annual Contribution: Rs 16200
- Policy Term: 25 years
- Total Invested Amount: Rs 4.05 lakh
- Expected Return: Around Rs 25 lakh at maturity (depending on declared bonuses)
- Insurance Coverage: Upto Rs 25 lakh during the policy term
The final return can vary slightly based on the type of plan and the bonus declared each year, but the structure is built to deliver consistent growth and protection.
Extra Benefits You Might Appreciate
- Flexible Term Options: You can choose the policy duration that suits your goals, whether it’s 20 or 25 years.
- Money-Back Options: Some versions of the policy pay you in intervals before the maturity date.
- Revival Window: If you miss premium payments and the policy lapses, you can revive it within a specific period.
- Surrender Benefit: If you ever decide to discontinue, you may still receive a surrender value after paying a minimum number of premiums.
Who Should Consider This Plan?
This LIC policy is a good fit for:
- Young professionals just starting out
- Families who want secure, long-term savings
- Parents planning for children’s education or wedding expenses
- Anyone seeking low-risk, tax-saving investment options
- Individuals who prefer guaranteed returns over market-linked investments
How to Apply
You can get started in three simple ways:
- Through an LIC Agent: They’ll help you understand the policy and assist with the paperwork.
- Online via LIC’s Website: A convenient way to apply without leaving your home.
- Visit a Local Branch: If you prefer face-to-face support, drop by your nearest LIC office.
Documents You’ll Need
- Aadhaar Card
- PAN Card
- Address Proof
- Passport-size Photos
- In some cases, proof of income
LIC’s Rs 45 a day savings plan offers a simple, low-risk way to build long-term wealth while ensuring life insurance coverage. It’s a great choice if you’re looking for a safe investment path that combines financial protection with a lump-sum payout in the future. Before you decide, it’s wise to talk to an LIC advisor who can help tailor the plan to your needs and make sure you get the best value.