Which policy is best for returns?
Table of Contents
Which policy is best for returns?
8 best investment plans in India for high returns
- Saving Account.
- Liquid Funds.
- Short-Term & Ultra Short-Term Funds.
- Equity Linked Saving Schemes (ELSS)
- Fixed Maturity Plans.
- Treasury Bills.
- Gold.
Why money back policy is best?
Money Back Life Insurance Benefits: Pays out regular benefits throughout the term. Works as an insurance policy as well as a long-term investment with good returns. Less risky than other investments offering similar returns like mutual funds. Enables long-term savings and regular income.
Are money back policies good?
A money back policy is much less risky than investing in a mutual fund. It can be a favourable situation for the investor because it is a tax-saving investment with assured returns over the period, as well as providing comprehensive life insurance coverage.
What is the maturity amount of money back policy?
20\% of the sum assured is paid out to the policyholder at the completion of the 5th, 10th, and 15th policy years. The remaining sum will be paid as the maturity benefit. If the policyholder, however, succumbs to an untimely death, their nominee will receive a death benefit payout from the insurer.
What is LIC Jeevan Anand policy?
LIC New Jeevan Anand is a participating non linked life insurance policy that offers the double benefit of protection and savings. The plan offers financial protection in case of death of the insured and also provides a lumpsum amount in case of survival at the end of the term policy.
Which money back policy is best in India?
Best 5 Money Back Plans in India 2021
- ICICI Prudential Cash Advantage Plan. While augmenting your regular income, this plan provides a guaranteed cash payout.
- Edelweiss Tokio Life G CAP Plan.
- HDFC Life Super Income Plan.
- Money Back Plus Plan by Tata AIA Life Insurance.
- Bajaj AllianzCash Assure Plan.
What is LIC money back plan?
LIC’s Money Back Policy is a non-linked plan that gives pay-outs at specific intervals. These pay-outs are made during the policy tenure as a certain percentage of the basic sum assured.
What is money back in LIC?
Can I get loan on LIC money back policy?
The loan amount is given on the basis of the surrender value of the LIC policy. The maximum loan amount that can be availed will be up to 90\% of the surrender value. The maximum loan amount is 85\% of the surrender value for a paid-up policy. This includes the cash bonus that may be applicable to the policy.
Is LIC a safe investment?
Is LIC Plan a good investment? Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.
What is money back policy and how does it work?
The money back policy acts like a standard insurance plan in such cases and helps the insured to plan for the future well-being of their families even if they are not there anymore. The guaranteed nature of the sum assured means that the family or nominees would definitely receive the money.
What are the benefits of a money back plan?
A money back plan such as LIC money back policy or others has a host of benefits for the investor looking for a guaranteed return plan along with life insurance cover.
Who should buy a money back insurance plan?
Who should buy a money back plan? A money back policy is suitable for individuals who are looking for regular incomes at specified intervals. People who want to get assured returns within a short period of time can buy these plans. Individuals can get tax saving benefits as well as assured returns by investing in money back insurance plans.
What are the best features of LIC money back policy?
Some of the best features of the LIC Money Back policy are as follows- The plan provides a comprehensive life insurance cover against death. The death benefit is payable as a lump sum of basic sum assured plus all the bonuses irrespective of all survival benefit paid earlier. The plan also provides surrender benefits.