Question: Is LIC Money Safe?

What is the safest way to invest money?

10 Safe Investments to Protect Your MoneyFDIC-Insured Savings Accounts.Money Market Accounts.FDIC-Insured Certificates of Deposit (CDs)Money Market Funds.U.S.

Savings Bonds Series EE.U.S.

Savings Bonds Series I.Treasury Inflation-Protected Securities (TIPS)U.S.

Treasury Bills, Bonds and Notes.More items…•.

Is it safe to invest in post office?

Government-backed schemes like post office saving schemes and bank fixed deposits are safe and they also offer assured returns. However, the trouble with them is that they offer only modest returns. Often the post-tax returns fail to beat inflation. When that happens over a long period, your money loses its value.

What is lic interest rate?

LIC Fixed Deposit Features. … FD Tenure: Ranges between 18 months to 5 years. Interest Rate Range: 5.50% p.a. to 5.60% p.a. Senior Citizens FD Rate: 5.75% to 5.85% p.a. Highest Interest Rate: As per today’s rate, LIC Housing Finance’s highest interest rate on FD is 5.60% offered for a tenure of 5 years.

Is LIC 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 plan is best in LIC?

Best LIC PlansLIC PoliciesPlan TypePolicy TermLIC Jeevan UmangWhole Life Insurance100 years minus(-) the age at entryLIC Jeevan AmarTerm Assurance Plan10 years-40 yearsLIC Money Back 25 yearsMoney Back Policy25 yearsLIC New Jeevan AnandEndowment Plan15 years-35 years1 more row•5 days ago

Is LIC online payment safe?

A secured method, as the data of your policy is not shared between LIC, the banks or any third party over the internet as only the amount to be paid is data encrypted and transported through a safe medium. The login id at both the sites (LIC and Bank) is known only to you.

How can I double my money in 5 years?

Similarly, if you want to double your money in five years, your investments will need to grow at around 14.4% per year (72/5). If your goal is to double your invested sum in 10 years, you should invest in a manner to earn around 7% every year. Rule of 72 provides an approximate idea and assumes one time investment.

Why LIC is being sold?

Governed by the Life Insurance Corporation Act, 1956, every LIC policy is guaranteed by the government. Explaining the rationale for divesting the government’s stake in LIC, Ms. Sitharaman said that listing would bring discipline while giving retail investors an opportunity to participate in wealth creation.

Which is better LIC or post office?

Premium Rate-When compares to LIC or any private insurers, PLI offers cheap premium. So this is the most advantage of buying endowment plans with PLI than with LIC. Bonus Rate-Bonus offered by PLI is in the range of 7% or more. … Maximum Sum Assured-PLI offers you the maximum sum assured of Rs.

Is LIC better than FD?

Comparing between FD and Life Insurance Plan Thinking of short and long term investments, FDs are better. Life insurance plan are suitable only as long term investment options. The minimum period of investment in a life insurance plan is about 10 years. The minimum amount that you can deposit in a FD plan is Rs.

Is it safe to pay LIC premium through Google?

UPI payments are secure since it requires two step verification that includes OTP Pin and even before that you have to enter PIN for Google Pay app, and another reason is that UPI payments are much easier than going for an offline direct method of LIC premium due payment.

How can I stop my LIC ECS payment?

If a policy holder desires to discontinue the ECS facility, request for same should be given to the servicing branch at least 20 days in advance of the debit date for MLY mode policies and 30 days in advance for other modes.

How can I pay LIC premium without paying?

Here is how you can pay your LIC premiums using your credit card: Step 1: Log in to LIC’s website: visit www.licindia.in. To make the payment you have to make sure your policy(s) is enrolled with the insurer. Once it is done, click on the link ‘Pay Premium Online’ to see the list of policies where the premium is due.

How can I invest 50k wisely?

How to Invest 50k?Get an Emergency Fund.Pay Off Debt.Determine Your Goals and Risk Tolerance.Understand Which Kind of Investor You Are.Understand the Difference Between Passive and Active Investing.Invest in Individual Stocks.Invest in Real Estate.Invest in Individual Bonds.More items…