What is the best Single premium plan in LIC of India?
There are many single premium plans with the LIC of India.
If you want immediate returns from next month like pension for a lifetime, buy LIC Jeevan Akshay Plan VII.
IF you want returns after some years (1 to 12 years) buy like pension for a lifetime, buy LIC Jeevan Shanti Plan
If you want the returns after 10 years or 15 years, go for LIC Single premium Endowment plan.
GST of 1.8% of the total premium has to be paid.
If the investor is above 60 years, better to invest in Pradhan Mantri Vaya Vandana Yojana ( up to Rs. 15 lakhs per PAN card ) which gives the highest interest rate in India. This plan is by the Government of India in association with the LIC of India.
Monthly 7.40% and yearly 7.60% for the investments till March 31st 2022.
The government of India may change the rate of interest for new investors after April 01, 2022. Please check in leading newspapers for LIC of India announcements.
For senior Citizens, Pradhan Mantri Vaya Vandana Yojana is the best plan in India. For the next 10 years, guaranteed pension every month or the mode they choose. Investment is safe with LIC and the Government of India.
