If you want to invest in LIC’s plan, then LIC has come up with a SIIP, a unit-linked insurance plan for the customers. Which gives investment opportunities with insurance protection. It provides high returns to the policyholders. Allows to choose equity and debt fund option based on risk appetite.

This plan can provide coverage to the family of the insured in any type of situation. This policy can help investors build their savings into a huge corpus fund.

To take advantage of LIC SIIP policy, the age of the policyholder should be at least 90 days i.e. 3 months and the maximum age should be 65 years. The policy term ranges from 10 to 25 years with a minimum sum assured of 10 times the annualized premium for customers below 55 years of age and 7 times for those above 55 years of age.

Multiple benefits are available-

LIC SIIP offers multiple benefits to the policyholders, which include death and maturity benefits as well as guaranteed benefits. If the life assured dies before the commencement of risk, the beneficiary will receive an amount equal to the Unit Fund Value. In case of death after commencement of risk, the beneficiary can choose to receive the Unit Fund Value.

Keep these things in mind-

– There are four fund options to choose from in LIC SIIP. Free switch between funds, add-on rider benefits to enhance the coverage of the policy and tax exemption under the Income Tax Act. The customer can also make a partial withdrawal after completing five policy years.

There are two optional benefits of LIC SIIP. An Accidental Death Benefit rider option and partial withdrawal facility. The Basic Sum Assured of the policy cannot exceed the Accidental Death Benefit Sum Assured. If you want to make a partial withdrawal, you can withdraw money in the form of a fixed amount or a fixed number of units.

LIC SIIP offers four fund options to choose from namely Bond Fund, Secured Fund, Balanced Fund and Growth Fund. The investment pattern of these funds varies depending on the type of security they invest in and the risk-weight of their portfolio.

If a policyholder invests Rs 50,000 in the Balanced Fund option of LIC SIIP for ten years, the rate of interest will be 10% and after ten years the total fund value will be Rs 9,39,700.

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The post LIC brought a new policy, investing Rs 50 will get Rs 9 lakh on maturity first appeared on Rightsofemployees.com.

The government makes some plan for every section of the society. Similarly, now the government has made such a scheme for the girl child, in which your daughter will be given tax amount of more than Rs. 1 lakh in 5 installments.

Although this scheme is very old, but many people do not know about the scheme. Therefore, if you have a daughter here, then you must know about this scheme because very few documents are asked in this scheme. Due to which most people get the benefit of this scheme, so let’s know about this scheme. How can you apply for this scheme? Where do you have to make this application?

When will I get the money?

Under this scheme, the government deposits 6-6 thousand rupees in a fund in the name of the girl child, that is, a total of Rs 30,000 is deposited in the name of the girl child. Then the girl child is given Rs 2,000 for taking admission in class 6T, Rs 4,000 for taking admission in class 9th, Rs 6,000 for taking admission in class 11th and Rs 6,000 for taking admission in class 12th. And when the girl child turns 21, she gets a final payment of Rs 1 lakh. Although now the government has increased the amount in this scheme, then the last installment will also increase.

Apply like this

Any person should contact the Anganwadi workers with all the documents of their girl child. Apart from this, you can apply from the Project Office, Public Service Center or any Internet Cafe. After this your application will go to the project office for approval, where your application can be approved or rejected. After the application is approved, the government will give a certificate of Rs 1 lakh 43 thousand in the name of your girl child. Let us tell you that earlier a certificate of Rs 1 lakh 18 thousand was given, but now the amount has been increased in this scheme.

Who eligible to apply?

The benefit of this scheme is given to those daughters of the state, whose parents are natives of Madhya Pradesh and they do not pay income tax. The name of this scheme is Ladli Laxmi Yojana.

The post Good news! Your daughter will get Rs 1 lakh 43 thousand; Apply without delay first appeared on Rightsofemployees.com.