LIC plan – 5 years double money (2023 Update) – Nowadays the scheme of Life Insurance Corporation is very popular among the people. There are many such schemes in LIC, through which we get excellent returns. Investing in LIC in a few years also doubles the money.
If you also want to know about some such scheme so that you get a great return on investment, then you must read this article.
In today’s article, I will tell you that in how many years money doubles in LIC? and lic plan – 5 years double money (2023 Update)If you are also associated with LIC Life Insurance Corporation (Life Insurance Corporation of India) or want to join, then this article is going to be very important for you.
By reading today’s article, you will know that complete information about LIC Plan 5 Years Double Money, so let’s start this article without taking much time and know that in how many years money doubles in LIC?
What is LIC?
The full form of LIC is Life Insurance Corporation which is called Life Insurance Corporation of India. Life Insurance Corporation of India or LIC, is the largest life insurance company in India and also the largest investor company in the country.
It works completely under the Government of India. It was established in the year 1956. LIC is headquartered in Mumbai, the financial capital of India.
Life insurance in its modern form came to India from England in the decade of 1818. India’s first life insurance company was started by Europeans in Calcutta. Whose name was Orientation Life Insurance.
At that time all insurance companies were established to meet the needs of the European community and these companies did not insure people of Indian origin.
But after some time, with the efforts of great people like Babu Muttilal Seal, foreign life insurance companies started insuring Indians as well.
But these companies used to have low level behavior with Indians, like demanding heavy and high premium.
The foundation of India’s first life insurance company was laid in the name of Mumbai Mutual Life Insurance Society in 1870, which also started insuring Indians at the same rates. Completely indigenous, these companies were started with the spirit of patriotism.
In how many years money doubles in LIC?
Your invested money doubles in 5 years under LIC. There are many such schemes under LIC, through which you can double your money.
LIC Mutual Fund Best Scheme
LIC MF Large & Mid Cap Fund LIC MF Exchange Traded Fund – Sensex LIC MF Exchange Traded Fund – Nifty 50 LIC MF Index – Sensex Plan LIC MF Large Cap Fund
Let us get detailed information about all these schemes.
LIC’s first plan – 5 years double money
LIC MF Large & Mid Cap Fund
Government Insurance Company LIC Mutual Fund Business is also there. This business of the company is operated by its subsidiary LIC Mutual Fund (LIC MF).
LIC Mutual Fund is a low end mid cap fund, in which an annual return is given at the rate of 19.05 in 5 years on investing money.
At least ₹ 5000 can be invested in this scheme in lump sum. The same minimum SIP of ₹ 1000 can be done. In these, investors’ money more than doubles in 5 years.
LIC’s second plan – 5 years double money
LIC MF Exchange Traded Fund – Sensex
Under LIC MF Exchange Trader Fund, an annual return of 18.14 percent is given in 5 years. You can invest at least ₹ 5000 lump sum in this scheme.
In which ₹ 1 lakh becomes 2.30 lakh rupees through this scheme in 5 years, while the value of 10000 Monthly SIP increases to 9.51 lakh rupees.
LIC’s third plan – 5 years double money
LIC MF Exchange Traded Fund – Nifty 50
Through LIC MF Exchange Traded Fund, an annual return of 17.39% is given in 5 years. This means investing ₹ 100000 in this scheme can be ₹ 226000 in 5 years.
Nifty and Sensex in the stock market reflects the growth of India. Because of which LIC ETF Nifty 50 is one of the safest and guaranteed return plans.
In this scheme, at least you have to invest ₹ 5000 outright. Through which you get good profit in 5 years.
In 5 years, ₹ 1 lakh will become 2.23 lakh in this scheme, while the value of ₹ 10000 Monthly SIP has increased to 9.42 lakh. This means that if you invest ₹ 5000 in SIP every month, you will get approximately ₹ 526000 in a span of 5 years.
LIC’s fourth plan – 5 years double money
LIC MF Index – Sensex Plan
LIC MF Index- Sensex Plan has given an annual return of 17.31% in 5 years. In this scheme, at least you have to invest ₹ 5000 outright.
The same minimum SIP of ₹ 1000 can be done. Under this scheme, ₹ 1 lakh becomes 2.22 lakh in 5 years, while the value of Monthly SIP of ₹ 10000 has increased to 9.38 lakh.
LIC’s fifth plan to double money in LIC in five years
LIC MF Large Cap Fund
Through LIC MF Large Cap Fund, an annual return of 16.4 percent is available in 5 years. LIC MF Large Cap Fund is very popular.
If you analyze this scheme well, then you will know that this scheme has given an annual return of 16.4% in the last 5 years.
This means that if you invest ₹ 100000 in this scheme, then within 5 years your money will be worth ₹ 2,12000. At the same time, in this scheme, you have to invest at least ₹ 5000 in lump sum.
The same minimum SIP of ₹ 1000 can be done, generally people invest in this type of scheme as SIP every month.
If you invest ₹ 5000 every month in this scheme, then you will get approximately ₹ 508000 in 5 years. In such a scheme, ₹ 1 lakh becomes Rs 2.19 in 5 years, while the value of Monthly SIP of ₹ 10000 has increased to 9.41 lakh.
My Last Word:
In today’s article, we have come to know that in lic plan – 5 years double money (2023 Update) and how many years money doubles in LIC? I hope you have got important information related to LIC by reading our today’s article.
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