Life Insurance Corporation of India (LIC) has devised a new scheme of the fixed deposit (FD) plan which has guaranteed high ratio of payments monthly to the investors who invested in the plan in conservative way. The policyholders will be able to have a fixed income that cannot be influenced by the market condition and will be 9750 amount per month with minimum investment of only 1.5 lakh and this will form the post-retirement cash flow or they would be in a position to get extra cash flow without necessarily following the market condition. This guaranteed income fund will consist of stability of LIC which is said to be trusted by the clients and high returns in low interest environment.
The Scheme is entitled to monthly payment as the following.
This proposal is pegged on a cumulative FD compensation of a fixed interest pay per month. It would add 7.8 percent (after tax effective) of the implied interest of 1.5 lakh which shall amount to 9750 per month or 1.17 lakh of annual returns. This is between 5-10 years and lump sum invested in a flexible way as the lowest is 1 lakh.
Key features include:
- Guaranteed Payments: No choices, monthly, Bank account deposits.
- Increase to the elderly: 0.5 plus of 60 or above and this increases returns.
- Loan Facility: Borrow not more than tenure deposit up to 90 percent.
- Tax Benefits: section 80C (Deduction of not more than 1.5 lakh).
The proposal provided by LIC will also include life cover riders as of the bank FDs; the nominee will also be provided the protection against premature death of the investor.
Who Benefits Most?
Best when it comes to retirement, housewives or very well paid. A 1.5 lakh would be appropriate to small time savers who would love to make above 1 lakh/year without going into equities. Compared to bank FDs (6.5-7.2%): LIC will be granted sovereign support and liquidity monthly basis.
| Investment | Monthly Payout | Annual Yield | Tenure |
| Rs 1.5 Lakh | Rs 9,750 | 7.8% | 5-10 Years |
| Rs 5 Lakh | Rs 32,500 | 7.8% | Same |
| Rs 10 Lakh | Rs 65,000 | 7.8% | Same |
Applicability and Investment Procedures.
through LIC offices, through the agents or through online portal. PAN, Aadhaar, bank account and KYC. Nomination mandatory. It is low at the cost of a premature disinvestment of 1-2 percentage point and it is greater above a 3 years period.
In order to calculate the liquidity of the investments, analysts suggest that, the investments will be laddered according to the term period. The actual returns are 2.8 and they also are positive taking into consideration the inflation rate of 5%.
Why Choose LIC FD Now?
It is this intrigue that introduces sanity in the foaming markets. It is backed by the largest insurer in India (rs 50 lakh crore AUM) which is not risky of default. It is an accidental launch time and bonuses of period around the season of the festivals.
And put it to-day, 1.5 lakh will definitely turn to the 9750 headache-free per month to-morrow. Visit local lic nearest office or visit licindia.in.
