LIC A Right Investment Option for NRIs
Securing future is the present need of every individual. Everyone dreams of having some secured saving for future and always on look to find a fool-proof saving plan where there is guaranteed regular income on the amount invested. However it is not as easy as it seems to. The most alluring investment options since ever have been gold, real estate and equity. But these all are subject to the market's volatility and do not guarantee a fixed income on the investment and people feel forced to keep money invested in bank accounts or Fixed Deposits and put up with a low return on their investment; especially NRIs who get a very low return on saving their money abroad- as low as 0.5% to 1.5%. In this situation, LIC of India seems to be the right investment cum saving option for NRIs which offers insurance cum saving plans with higher & guaranteed return benefits – as much as 8%.
We offer our NRI clients to choose a combination of plans instead of standalone insurance products. The following is an example of two separate LIC Insurance plans with different investment terms. These LIC plans will generate a stream of regular income for 20 years or one can increase/decrease this period based on his/her needs. These are custom plans which can also be modified to reduce the investment term as per your needs. Investment in these custom LIC plan is best suited to children below age of 15, parents can ensure a regular extra income for their kids for life/defined period. Adults can also plan their retirement with customized investment plans with LIC.
These LIC plans will generate a stream of regular income for 20 years or one can increase/decrease this period based on his/her needs. These are custom plans which can be modified to reduce the investment term as per your needs. Investment in LIC is best suited to children below age of 15, parents can ensure a regular extra income for their kids for life/defined period. Adults can also plan their retirement with customized investment plans with LIC.
Please check the below illustration, and then we can discuss the plan used to get this stream of regular income.
Sum Assured: Rs.46,50,000/-
Term: 20 Years
Payment Term: 20 Years
Approx. Monthly Premium: 19,000/-*
Total Approx. Amount Invested in 20 Years: 42,25,000/-
Annual Tax-free Return for 20 Years: 6 Lacs Approx.
Maturity after Completion of 20 Years Return: 1,20,00,000/-
*The above figures are approximate and may slightly change depending upon your age.
Jeevan Umang Plan (Plan No.945): This is one of the LIC's best conventional endowment plans offering non-linked profit and insurance coverage for life i.e. upto 100 years of age. It offers 8% guaranteed annual payments till the death of the insurer or a lump-sum amount to his/her nominee in case of death of the policy holder.
LIC New Endowment Plan (Table No.914): This is a multi-benefit plan of LIC that offers non-linked insurance policy with assured return and bonus. Anyone between 8 to 55 years of age can buy it for a tenure ranging from 12 to 35 years. The policy survivors receive lump-sum amount of sum insured with Simple Reversionary Bonus and Final addition bonus.
LIC Jeevan Labh Plan (Plan No.936): This is a limited period premium payment plan of LIC that offers non-linked insurance policy with assured return and bonus. Anyone between 8 to 55 years of age. The plan comes with 3 PPT options - 10/16, 15/21 and 16/25 as PPT/Terms respectively. Jeevan Labh is considered to be high yield plan.
All the returns are 100% tax free. No income tax to be paid by you either in India or in your country of residence.
After Coronavirus pandemic, people will definitely look for a regular income that is uninterrupted and secured, only LIC is an institution on which you can rely upon. LIC investments are much safer than other instruments e.g. Stocks, FDRs, Mutual Funds, Real Estate etc. etc. We offer customize solutions to cater your needs and future requirements, and could design a plan accordingly. Please call us at +91-9230091000 to help understand your needs and give you a customized solution.