If you wish to set up a fund with secure investments, then the LIC scheme is for you. From time to time, the Life Insurance Corporation of India (LIC) provides outstanding schemes. Now, LIC has devised a specific program to help female consumers become self-sufficient.
The name of this scheme, LIC Aadhar Shila Plan, was chosen with women's interests in mind. Women between the ages of 8 to 55 can invest in this LIC scheme. Let us know about this plan in detail.
Terms of This Scheme:
Customers can benefit from the LIC's Aadhar Shila plan in terms of both security and savings. However, only women who have an Aadhar card may take benefit of this scheme. When the policy matures, the policyholder receives the money. This LIC plan also gives financial assistance to the policyholder and his family after his death.
How Much Money will you Have to Invest?
The LIC Aadhar Shila plan allows for a minimum investment of Rs.75000 and a maximum investment of Rs.3 lakh.
This insurance has a minimum maturity time of 10 years and a maximum maturity period of 20 years. Let us inform you that a woman aged 8 to 55 years old can invest in LIC's plan, with a maximum maturity age of 70 years. At the same time, this plan's premium is paid on a monthly, quarterly, half-yearly, or yearly basis.
Learn Through an Example:
An example will help you grasp this scheme. If you are 30 years old and deposit Rs.29 every day for 20 years, you would have a total deposit of Rs.10959 in the first year. It will now be subject to a 4.5 percent tax. You will have to pay Rs.10723 next year.
You can deposit these premiums on a monthly, quarterly, semi-annual, or annual basis in this manner. You will need to invest Rs.214696 over the course of 20 years to receive a total of Rs.397000 at maturity.
