(New LIC Scheme News) : Investing in a secure and profitable scheme is essential for financial stability. The Life Insurance Corporation of India (LIC) offers an attractive savings plan where you can deposit just ₹1800 per month and receive up to ₹8 lakh at maturity. This scheme is ideal for individuals seeking a low-risk investment with guaranteed returns.
In this article, we will explore the key details of this LIC plan, including eligibility, benefits, returns, and how you can apply.
What is LIC’s ₹1800 Per Month Plan?
LIC offers various endowment and savings plans that provide both life coverage and financial benefits. One such plan allows investors to contribute ₹1800 monthly, accumulating substantial savings over time. This scheme is structured to help policyholders build a secure financial future with disciplined savings.
Key Features of the LIC Investment Plan
- Affordable Premium – Start saving with just ₹1800 per month.
- Guaranteed Maturity Benefits – Get a lump sum of ₹8 lakh at maturity.
- Life Coverage – The plan offers life insurance protection along with savings.
- Long-Term Wealth Creation – Ideal for people planning for future expenses like children’s education or retirement.
- Tax Benefits – Eligible for deductions under Section 80C of the Income Tax Act.
How the ₹1800 Monthly LIC Plan Works
This plan follows a structured investment approach where policyholders pay a fixed premium every month. Over time, these contributions accumulate with interest and bonuses, leading to a significant maturity amount.
The table below provides an estimate of returns under this scheme:
| Monthly Investment | Total Investment Duration | Approximate Returns at Maturity |
|---|---|---|
| ₹1800 | 10 Years | ₹3,50,000 – ₹4,00,000 |
| ₹1800 | 15 Years | ₹5,50,000 – ₹6,00,000 |
| ₹1800 | 20 Years | ₹7,50,000 – ₹8,00,000 |
The actual maturity amount may vary based on the LIC plan you choose and the bonuses declared by the corporation.
Eligibility Criteria for LIC’s ₹1800 Plan
To enroll in this scheme, you need to meet the following eligibility conditions:
- Minimum Age: 18 years
- Maximum Age: Varies based on the specific plan (generally up to 50-55 years)
- Policy Term: Ranges from 10 to 25 years
- Minimum Sum Assured: Varies based on the plan selected
- Medical Check-up: Required for some plans, depending on age and sum assured
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Benefits of Investing in LIC’s ₹1800 Per Month Plan
1. Safe and Secure Investment
LIC is a government-backed organization, ensuring that your money remains secure with guaranteed returns.
2. High Returns with Bonus
Over time, your premium accumulates along with LIC’s annual bonuses, leading to higher maturity benefits.
3. Flexible Policy Terms
You can choose a tenure that best suits your financial goals, ranging from 10 to 25 years.
4. Death Benefits
In case of the policyholder’s unfortunate demise, the nominee receives a lump sum payout, ensuring financial security for the family.
5. Tax Savings
Premiums paid under this plan qualify for tax deductions under Section 80C, and the maturity proceeds are tax-free under Section 10(10D).
How to Apply for LIC’s ₹1800 Per Month Plan?
Applying for this LIC plan is simple and hassle-free. Follow these steps to get started:
- Visit the Nearest LIC Branch – Meet an LIC representative to understand the best plan for you.
- Choose the Right Plan – Discuss and select a policy that suits your needs.
- Fill Out the Application Form – Provide necessary details and documents.
- Medical Examination (If Required) – Complete medical tests if your policy requires it.
- Pay the First Premium – Start your investment by paying the initial amount.
- Receive Policy Documents – LIC will issue your policy papers once the application is processed.
Alternatively, you can also apply online through LIC’s official website.
Comparison with Other Investment Options
Here’s how this LIC plan compares with other popular savings schemes:
| Investment Option | Monthly Contribution | Expected Returns | Risk Level | Tax Benefits |
|---|---|---|---|---|
| LIC ₹1800 Plan | ₹1800 | ₹8 Lakh | Low | Yes |
| PPF | ₹1800 | ₹7-8 Lakh | Very Low | Yes |
| Fixed Deposit | ₹1800 | ₹6-7 Lakh | Low | Partial |
| Mutual Funds | ₹1800 | Varies | Medium | Partial |
While mutual funds may offer higher returns, they come with market risks. LIC’s plan provides guaranteed savings with life coverage, making it a secure choice.
Who Should Invest in This LIC Scheme?
This plan is suitable for:
- Salaried professionals looking for disciplined savings.
- Parents planning for their children’s future education expenses.
- Individuals seeking a risk-free investment with life insurance benefits.
- Taxpayers who want to maximize their deductions under Section 80C.
Important Things to Consider Before Investing
Before opting for this plan, consider the following factors:
- The maturity value may vary based on LIC’s declared bonuses.
- Ensure you can commit to regular premium payments to avoid policy lapse.
- Compare different LIC policies to find the best match for your financial goals.
LIC’s ₹1800 per month investment plan is an excellent option for those looking for secure, long-term wealth accumulation with life insurance benefits. With guaranteed maturity returns and tax advantages, this scheme is ideal for investors who prefer stability over high-risk investments.
If you’re planning for a financially secure future, consider enrolling in this LIC plan today.
This article provides general information based on publicly available LIC schemes. Please consult with an LIC agent or visit the official LIC website to get personalized advice before investing.