Topic: What scheme in LIC should I choose to get 20 lakh at the age of 55.

I am aged 43. My income is Rs. 3.75 lakh per annum.

This message was edited 1 time. Last update was at 21/07/2009 15:14:52

First question to you is why you want to use LIC to invest. if you are adequately insured, you might find it cheaper to invest through mutual funds in India, where you can manage to diversify your risk a little more.

LIC is a good choice for life insurance, but if you want a lumpsum and not insurance, Then insurance is not the best option.

There is a special scheme from LIC to provide you with this benefit.

It has investment portion which is NOT equity linked. Insurance is flat and free. Premium is very low.

Guaranteed returns aslo provided for.

Email me if you wish to have more details.

Brijendra,
Would you invest in the non-ULIP LIC plans(a.k.a LIC insurance) if you were told that the return you get would be in the range 5-6%(maybe less)? Why buy an insurance(which also pays) if you want investment product? It's like buying a cycle when you need a car just because it also moves!. You rather invest the money in PPF. You will get higher interest. And if you need insurance, buy a pure term insurance. Since you seem to have longer time horizon, think about investing in mutual funds thru SIP.

http://khotapaisa.wordpress.com

Fields marked * are mandatory
Got a question?
Just fill in the following:
Name*		E-Mail*
Phone No.*		City
Message (up to 1000 characters)