LIC One time Premium Plans
LIC one time premium plans are best for investments for long term. Some people don’t want to commit for long term or regular premiums, for those One time Premium plans are good to Invest. LIC is the largest Life Insurance Company with 100% holding by Government of India. So there is no risk on Investment and returns.
In LIC, we have some good single Investment plans. They are :
- Single Premium Endowment plan
- Bima Bachat – Single premium Money Back Plan
- Jeevan Akshay
- Jeevan Utkarsh Plan 836
LIC One time Premium plans are designed as the requirements of the Indian Small savings in mind. One time investment plan comes with inbuilt Life Insurance cover. This combination of Investment and Insurance cover makes affordable for middle class families.
Single Premium plans help parents to invest lumpsum for higher education, overseas education, Marriage, setting up office, Clinic etc. after completing studies. A small amount invested today may fetch good returns after 15 or 20 years.
Every investor thinks capital guarantee. Most of Investors are not interested in returns but at least the amount invested should ge returned fully. The kind of guarantee LIC had given for the last 60 years had made people to trust LIC blindly.
LIC had introduced new plan JEEVAN UTKARSH. This is a single premium, non-market-linked, with-profits, savings cum protection plan wherein the risk cover is ten times of Single Premium paid.
LIC Jeevan Utkarsh is available from age 6 to 47. This plan can also be considered as perfect Tax Saving plans as returns are 100% Tax saving under section 80C of Income Tax Act.,