Life Insurance Corporation of India (LIC) offers a variety of short-term high return policies that can help you achieve your financial goals. These policies typically have a policy term of 5 to 10 years and offer guaranteed returns, which can be attractive to investors who are looking for a safe and reliable way to grow their money.
Here are some of the most popular LIC short-term high return policies:
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LIC Market Linked Plan (SIIP): This plan offers a guaranteed return of 8% per annum, plus the potential for additional returns based on the performance of the market.
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LIC Guaranteed Income Plan: This plan offers a guaranteed return of 6% per annum, and it also provides a life insurance benefit.
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LIC Jeevan Umang: This plan offers a guaranteed return of 5% per annum, and it also provides a life insurance benefit and the option to receive maturity benefits in installments.
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LIC Guaranteed Lumpsum Plan: This plan offers a guaranteed return of 4% per annum, and it provides a lump sum payment at the end of the policy term.
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Bima Jyoti: This plan offers a guaranteed return of 3% per annum, and it provides a lump sum payment at the end of the policy term.
These are just a few of the many LIC short-term high return policies that are available. The specific features of each plan will vary, so it is important to compare plans carefully before making a decision.
Here are some factors to consider when comparing short-term high return policies:
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Guaranteed returns: The guaranteed return is the minimum rate of return that you will receive on your investment.
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Potential for additional returns: Some plans offer the potential for additional returns based on the performance of the market.
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Policy term: The policy term is the length of time that the policy will be in force.
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Life insurance benefit: Some plans offer a life insurance benefit, which means that your beneficiaries will receive a payment if you die during the policy term.
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Maturity benefits: Some plans allow you to receive your maturity benefits in installments, which can help you spread out your income over time.
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Premiums: The premiums are the payments that you will need to make each year to keep the policy in force.
It is important to consult with a financial advisor to get help comparing short-term high return policies and to choose the plan that is right for your individual needs.
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