The interest rate on LIC policies is not a fixed rate
applicable to all policies. The returns and benefits of LIC policies are
dependent on the type of policy you choose. LIC offers various types of
policies, including traditional endowment plans, term insurance plans,
money-back plans, unit-linked insurance plans (ULIPs), and more. Each type of
policy may have different features and investment components, which can affect
the returns.
Here are some key points to understand about the interest
rates or returns in different LIC policies:
- Traditional
Endowment Plans: These policies offer a guaranteed maturity amount along
with bonuses. The interest rate or returns in these plans are not
explicitly mentioned, as they depend on LIC's performance and the
applicable bonus rates for each policy year.
- Unit-Linked
Insurance Plans (ULIPs): ULIPs provide market-linked returns based on the
performance of the underlying funds chosen by the policyholder. The
returns are not fixed and are subject to market fluctuations.
- Term
Insurance Plans: Term insurance policies do not provide any maturity
benefits or returns. They offer pure life cover for a specific term, and
if the insured passes away during the policy term, the death benefit is
paid to the nominee.
- Money-Back
Plans: Money-back plans provide periodic payouts during the policy term
along with a maturity benefit. The returns in these plans are a
combination of guaranteed and bonus amounts, but the exact interest rate
may not be explicitly mentioned.
It's essential to read the policy documents and understand
the specific features and benefits of the LIC policy you are interested in. For
traditional plans, LIC typically declares the bonus rates annually based on its
financial performance. For ULIPs, the returns are market-linked, and the
policyholder has the flexibility to choose the investment funds based on their
risk appetite.
If you are considering an LIC policy, it is recommended to
contact an LIC agent or visit the official LIC website for the most up-to-date
information on the specific policy and its returns. Keep in mind that past
performance is not indicative of future returns, especially in the case of
market-linked investment products like ULIPs.
[Note: This is not lic orginal website.This is the only thing to shear information about lic]
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