In Case Of Low Income, If You Invest in This Government Scheme, You Can Get 110% Return

Government Schemes To Make Money

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Invest Government Schemes To Make Money

There are different types of investments. Some of them like to invest with risk. Many of them get good returns. On the other hand, those who are afraid to take risks in 22 yards of investment, bring home relatively less money. One such place of risk-free investment is the Life Insurance Corporation of India, LIC for short.

88 percent of investors in the market want to invest their money in multiple projects. Due to multiple investment options, one is quite confused about which company to invest in. But yes, LIC can be the best investment address for risk free investment. First of all it is the most trusted insurance company in the country. Secondly, its returns are not bad either.

Although there are various private insurance companies in the market, still many people of the country trust LIC. LIC has been coming up with innovative plans for its customers for many years. LIC also has a special scheme for those customers whose income is very low. The name of this particular scheme is Bhagya Lakshmi Yojana.

Not to forget, the number of daily wage earners in a country like India is not at all low in the unorganized sector. Their daily income is also quite low. This Bhagya Lakshmi Yojana Samaj issued by LIC is meant for all these people.

It can be said that this is a very helpful scheme for low income earners. An investor has to pay for a limited time to come under this scheme. That is, a customer can get a good return by investing money for a short period of time.

In order to avail the benefits of this Bhagya Lakshmi Yojana of LIC, it is necessary to first undergo a medical examination of the concerned investor. The most interesting thing about this insurance is that after a certain period of investment, the concerned customer will get 110 percent return on the premium. After the policy term is completed, the money along with interest will be credited to the bank account.

The minimum age of an investor should be 19 years and the maximum age should be 55 years to be covered under this insurance. You can get this insurance for a minimum of five years and a maximum of 12 years. Under this policy, the insured is given two more years of cover after depositing the premium.

In this special scheme of LIC, a minimum return of 20 thousand and a maximum of 50 thousand rupees is available. But if the policy holder commits suicide within one year, he will not get the benefit of this insurance. But if such an event occurs after one year, the customer’s nominee will get full refund of the proposed amount. In this insurance the depositor will not get the loan facility. But during the policy period the depositor can surrender the policy if he wants. That is, the depositor can close this project as per his wish.

If a person surrenders the policy, he will get 30 to 90 percent return of his policy. Remember, the longer the policy, the higher the return amount.

This policy has maturity benefit as well as death benefit. In this policy you can pay monthly, annual, half-yearly, quarterly and monthly term can be chosen for payment of premium.

As per the Income Tax Act, income tax exemption will be available on the amount received from this scheme. Although past statistics suggest that individuals investing in these schemes are generally not covered by income tax laws.

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