How many years FD will double in LIC?

So it will take a little more than 14 years for one’s investment to get doubled in LIC Housing Finance.

Which one is better LIC or FD?

Fixed deposits are best for both short- and medium-term investments whereas life insurance plans are designed for long term investments. You can invest for a period of as low as 7 days in fixed deposits unlike a life insurance plan wherein you need to invest for at least 10 years.

Is Jeevan Akshay a good investment?

The amount of annuity can be received monthly, quarterly, half yearly, yearly. Is LIC Jeevan Akshay VI Plan a good investment? Certainly. The LIC Jeevan Akshay VI Plan ensures financial independence to people after retirement or to those looking for stable income options.

What is rate of interest in Jeevan Akshay?

Illustrations

How can I double my FD money?

This is very simple rule. Simply divide 72 by the Annual Interest Rate and this is the time it will take you to double up your money. For e.g.:- If you Invest 10,000 at 8\% p.a., it will take you 9 years (72/8), to double up your money.

Is FD in LIC safe?

The LIC HFL FD is rated as a stable and safe investment to make by CRISIL. This means that the investment is a highly stable one that offers guaranteed returns. The interest rates offered on LIC fixed deposits are very competitive and offers a higher rate of return when compared to your average savings account.

Is LIC policy a good investment?

Is LIC Plan a good investment? Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.

Which is better Jeevan Akshay or Jeevan Shanti?

But the annuity rate is slightly higher in Jeevan Akshay. However, Jeevan Shanti has two more options over Jeevan Akshay for immediate annuity on joint life. For a person having taxable income, Jeevan Shanti is a better option as he/she can defer additional tax liability through the deferred annuity option.

Is Jeevan Akshay VI closed?

Reportedly, the Life Insurance Corporation of India (LIC) will stop selling one of its most popular annuity products, Jeevan Akshay VI, from December 1, 2017, and is expected to introduce a new version of the plan with revised rates soon.

Which is best pension plan?

Best Pension Plans in India 2021

Is LIC Jeevan Akshay a good option?

It is good option if you start investing in LIC Jeevan Akshay, as you rightly said interest rates in coming years are going to come down. Few advantages of Akshay -. Life long pension with various optoptions to choose from. With same rate which would be declared today. The amount you will get will never change.

Can LIC Jeevan Shanti plan be bought for interest of Divyangjan?

Note: In case of an NPS and if the LIC Jeevan Shanti Plan is bought for the interest of Divyangjan, as per the terms and conditions of the policy then a lower purchase price might be permitted. Moreover, for an NPS the annuity rates will be subject to the factor of reduction. The least age of entry will be 30 years completed.

What is a Jeevan Akshay annuity?

LIC Jeevan Akshay is a single premium payment plan, meaning that the premium has to be paid in lump sum at once. The annuity can be paid annually, biannually, quarterly or monthly depending on what the assured chooses. Listed below is an illustration of annuity payouts for Rs.1 lakh for different options of the plan.