New Delhi: Life Insurance Corporation (LIC) of India offers a slew of investment schemes for Indians providing impressive returns and security on invested money. In such a scheme aimed at making Indian women self-reliant and self-reliant, LIC is offering a chance to grow money in a snap. Women aged anywhere between 8 to 55 years can invest in the scheme named Aadhar Shila. Investors can start investing in the scheme with an amount as little as Rs per day to get roughly around Rs 4 lakh at the time of maturity.
Besides assured returns on your investments, LIC is also offering protection coverage in the plan. For instance, if the investor dies before maturity, then the state-owned insurer offers financial assistance to the family. In the LIC Aadhar Shila scheme, the minimum sum assured is Rs 75,000 while the maximum is Rs 3,00,000.
Women investors can invest in the scheme for a minimum term of 10 years to a maximum term of 20 years. Investors will need Aadhar Card to open an account in the LIC Aadhar Shila scheme, which is a guaranteed return endowment plan. Interested people can start investing in the scheme by contacting a LIC agent or visiting a nearby branch.
How to get Rs 4 lakh on maturity?
For growing your investment to roughly around Rs 4 lakhs, women investors will have to start investing Rs 10,959 a year along with 4.5% tax for straight 20 years. On a daily basis, your saving will stand at around Rs 29 per day. Also Read: Gold Price Today, 11 July 2021: Gold cheaper by Rs 8300 from record highs, right time to buy?
In the next 20 years, you’ll end up paying Rs 2,14,696 to LIC. However, on maturity, LIC will return you Rs 4 lakh for your investment. Investors can choose to pay their premiums on monthly, quarterly or half-yearly basis. Also Read: India poised for double-digit growth, disinvestment climate looks better: Niti VC