Continue reading to know about the last date to make the investment, the benefits of both LIC schemes, the return calculator, policy terms, and premium charts along with other details.
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New Delhi: Insurance behemoth Life Corporation of India (LIC) offers a slew of policies that offer great return over a fixed period. Today i.e March 31, 2023, LIC going to close two LIC investment plans for investment. The two schemes are LIC Pradhan Mantri Vandana Vyay Yojana and LIC Dhan Varsha Plan. These two schemes are not available for purchase from today onwards.
However, the existing buyer of the schemes will not be affected. Continue reading to know about returns, premium charts, maturity terms, policy norms, and more.
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LIC Dhan Varsha Plan To Be Closed On March 31
LIC Dhan Varsha Plan is a life savings plan, that offers social security and savings as the scheme gives financial support to the family members of the subscribers in case of unfortunate death during the policy term.
In this plan of LIC, you will get up to millions by just paying a single premium.
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LIC Dhan Varsha Plan Return Calculator
If a person at the age of 30 in option 1 paid one-time premium of Rs 8,86,750 (Inclusive of additional GST Rs 9,26,654), the sum Assured is Rs 11,08,750. Now if he choses term policy as 15 years then he will get Rs 21,25,000 on maturity. In the case of an unfortunate death on first year, nominee will get Rs 11,83,438 and if death is on 15th year, nominee will get Rs 22,33,438.
If you choose the second option, and invest Rs 8,34,642 then the Basic Sum Assured will be Rs 10,00,000 and the Sum Assured on Death will be Rs 79,87,000.
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What is LIC Pradhan Mantri Vandana Vyay yojana (PMVVY)?
The scheme is introduced by the government in 2017 and offers older persons financial security and assists them in covering their post-retirement expenses. Natives of 60 years and above can get guaranteed pensions from this scheme.
LIC Pradhan Mantri Vandana Vyay Yojana (PMVVY) Return Calculator
The pension may vary as per the investment made. For instance, if investors seek pensions worth Rs 12,000 per year and Rs. 1,62,162/- for a minimum pension of Rs. 1000 per month under the scheme, the minimum investment was also raised to Rs. 1,56,658.
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Seniors can invest a lump sum of money in the PMVVY programme and earn a guaranteed income for ten years. Depending on the form of pension payment selected (monthly, quarterly, 7.45 percent), half-yearly (7.52 percent), or annually), the fixed pension rates under the system range from 7.40 percent to 7.66 percent per annum.
