(LIC New Scheme) : Investing in a secure and high-return savings plan is a priority for many individuals, especially those looking for a stable financial future. The Life Insurance Corporation of India (LIC) offers a policy where you can invest just ₹100 daily and receive ₹11 lakh on maturity. This plan is ideal for those looking for a disciplined investment approach with guaranteed returns.
In this article, we will explore the key details of this LIC scheme, including its benefits, eligibility criteria, premium calculations, and how to apply.
Why Choose LIC for Long-Term Investment?
LIC is India’s largest and most trusted insurance provider, offering various policies catering to different financial goals. Investing in an LIC plan provides:
- Guaranteed Returns – LIC offers assured returns, making it a low-risk investment.
- Life Cover – Along with savings, it also provides life insurance protection.
- Tax Benefits – Premiums paid are eligible for tax deductions under Section 80C of the Income Tax Act.
- Long-Term Financial Security – Helps you accumulate a substantial corpus over time.
LIC’s ₹100 Daily Investment Scheme Details
This LIC scheme allows individuals to save a small amount daily and receive a lump sum amount on maturity. Here are the key features:
- Minimum Daily Investment: ₹100 (₹3,000 per month)
- Maturity Amount: ₹11 lakh
- Policy Tenure: Varies (Usually 20 to 25 years)
- Premium Payment Mode: Monthly, Quarterly, Half-Yearly, or Yearly
- Insurance Cover: Life cover along with investment benefits
- Tax Benefits: Premiums qualify for tax deductions
This scheme is designed for individuals who want to build a substantial financial reserve without a significant financial burden.
Eligibility Criteria
To invest in this LIC scheme, you must meet the following criteria:
- Minimum Entry Age: 18 years
- Maximum Entry Age: Varies based on the policy
- Policy Term: 20 to 25 years
- Minimum Sum Assured: Depends on the specific LIC plan
- Medical Check-up: May be required for certain policies
This policy is ideal for salaried individuals, self-employed professionals, and small business owners looking for a disciplined savings option.
How Much You Need to Invest?
The investment and returns in this LIC scheme depend on the tenure and premium payment. Below is a table showing an estimated calculation for an investment of ₹100 per day:
| Daily Investment (₹) | Monthly Premium (₹) | Policy Term (Years) | Total Investment (₹) | Maturity Amount (₹) |
|---|---|---|---|---|
| 100 | 3,000 | 20 | 7,20,000 | 11,00,000 |
| 150 | 4,500 | 20 | 10,80,000 | 16,50,000 |
| 200 | 6,000 | 20 | 14,40,000 | 22,00,000 |
| 100 | 3,000 | 25 | 9,00,000 | 14,50,000 |
| 150 | 4,500 | 25 | 13,50,000 | 21,00,000 |
| 200 | 6,000 | 25 | 18,00,000 | 28,50,000 |
This table gives an idea of how a small investment can grow into a significant amount over time.
See More : Get Double Returns in Just 20 Years
Benefits of This LIC Investment Plan
This LIC scheme is designed to offer multiple advantages. Here’s why you should consider investing in it:
1. Affordable Premiums
With a daily investment as low as ₹100, it is easy for anyone to start saving without financial strain.
2. Guaranteed Returns
Since LIC policies are backed by the government, the maturity amount is secure.
3. Life Insurance Protection
In case of the policyholder’s unfortunate demise, the nominee receives the sum assured, ensuring financial security.
4. Tax Savings
Premiums paid towards the policy are eligible for tax deductions under Section 80C. Additionally, maturity benefits may be tax-free under Section 10(10D).
5. Flexible Payment Options
Investors can choose to pay monthly, quarterly, half-yearly, or yearly, making it convenient for different financial situations.
How to Apply for This LIC Policy?
Applying for this LIC investment plan is simple and can be done in a few steps:
- Visit the Nearest LIC Branch
- Meet an LIC agent or officer to get details on the available policies under this scheme.
- Choose the Right Policy
- Select a plan that fits your investment goal, tenure, and maturity amount.
- Fill Out the Application Form
- Provide personal details, income proof, and nominee details.
- Submit the Required Documents
- Documents such as PAN card, Aadhaar card, address proof, and passport-size photographs are required.
- Medical Examination (If Required)
- Some policies may require a health check-up based on the sum assured and age.
- Pay the First Premium
- Once all formalities are completed, pay the first premium to activate the policy.
Things to Keep in Mind Before Investing
Before committing to any investment, consider the following factors:
- Policy Terms and Conditions – Read all details carefully to understand exclusions, benefits, and lock-in periods.
- Investment Duration – Long-term policies require commitment, so choose a tenure that aligns with your financial goals.
- Claim Process – Familiarize yourself with the claim process for maturity and death benefits.
- Premium Payment – Ensure you pay premiums on time to keep the policy active.
Final Thoughts
Investing ₹100 daily in an LIC scheme is an excellent way to secure a financially stable future while also getting insurance protection. With the assurance of a lump sum payout on maturity, this plan is perfect for individuals looking for a disciplined and secure investment option.
Before purchasing, compare different LIC policies, understand their terms, and consult an LIC advisor to make an informed decision. Start investing today and build a better financial future!