LIC
The Life Insurance Corporation of India (LIC), one of the country’s most trusted financial institutions, has introduced a new Fixed Deposit (FD) scheme that promises attractive monthly returns. This scheme has generated buzz among investors for its simplicity, safety, and high monthly payout.
According to the latest announcement, individuals investing ₹2 lakh in this new LIC scheme can earn a monthly return of ₹13,000. Let’s understand how this plan works, who should invest, and what benefits it offers.
Key Features of LIC’s New FD Scheme
- Investment Amount: Minimum investment starts at ₹2 lakh.
- Monthly Returns: Investors will receive ₹13,000 every month.
- Guaranteed Income: The monthly income is fixed and does not fluctuate with market conditions.
- Tenure Options: The scheme is designed for long-term savings, with flexible tenure options ranging from 5 to 10 years.
- Eligibility: Available to Indian citizens above 18 years of age.
This scheme combines the security of a fixed deposit with the assurance of a fixed monthly income, making it ideal for retirees, salaried professionals, and conservative investors.
How Does the LIC FD Scheme Work?
While it’s termed an “FD Scheme,” LIC’s plan operates more like a guaranteed return product, possibly under one of its insurance-linked investment policies such as the LIC Jeevan Akshay or LIC Monthly Income Plan. The return of ₹13,000 per month on a ₹2 lakh investment may come from a mix of interest payouts and maturity benefits.
It is important to note that the actual amount received monthly could vary depending on the plan’s tenure and chosen options. Therefore, before investing, individuals are advised to consult an LIC agent or visit the official LIC website for detailed illustrations.
Why This LIC Scheme Stands Out
- Safe Investment: LIC is backed by the Government of India, making it one of the safest places to park your money.
- Steady Income: Ideal for those seeking a stable monthly income without taking on market risk.
- Tax Benefits: Some LIC plans offer deductions under Section 80C and tax-free maturity under Section 10(10D), depending on the product.
- No Market Risk: Unlike mutual funds or stock investments, this plan provides fixed returns irrespective of market performance.
Who Should Invest?
- Retirees looking for stable income without eroding capital.
- Housewives or homemakers seeking a secondary income stream.
- Salaried individuals planning a future passive income source.
- Risk-averse investors who prioritize capital safety.
LIC’s new FD-style scheme offers an excellent opportunity for those who want secure and predictable income. With a modest investment of ₹2 lakh, earning ₹13,000 monthly can help meet daily expenses, support family needs, or even supplement retirement funds. Before making any investment, always verify the product details, tenure, and payout terms. Consider consulting a certified financial advisor for tailored advice.
