Benefits of LIC Scheme:
- You can deposit Yearly, Quarterly, or Monthly(ECS) in LIC Scheme.
- Maturity received in LIC scheme is TAX FREE under section 10-10d of Income tax act.
- The amount deposited in LIC is exempted under section 80c of Income tax act.
- You ca continue LIC scheme after 10 years. You cannot continue post office scheme after 1 years.
- If you forgot to take maturity at the end of the 10 years. You can get return beyond 10 years in LIC scheme. This is not available in post office scheme.
- Get free insurance with LIC scheme.
- LIC is awarded by trust brand No.1
- 1000′s of Insurance agents to help you and collect your premiums from your office/Home. In Post office scheme home service is not available.
Maturity at the end of the 10 years in Monthly Scheme
Premium |
LIC Return |
Post Office Return |
LIC Gain |
| Rs.500 | Rs.106452 + Free Insurance | Rs.89010 -Income Tax | Rs.17442 |
| Rs.1000 | Rs.212904 + Free Insurance | Rs.178021-Income Tax | Rs.34883 |
| Rs.1500 | Rs.319356 + Free Insurance | Rs.267031-Income Tax | Rs.52325 |
| Rs.2000 | Rs.425808 + Free Insurance | Rs.356042-Income Tax | Rs.69766 |
| Rs.2500 | Rs.532260 + Free Insurance | Rs.445052-Income Tax | Rs.87208 |
| Rs.3000 | Rs.638712 + Free Insurance | Rs.534063-Income Tax | Rs.104649 |
| Rs.3500 | Rs.745164 + Free Insurance | Rs.623073-Income Tax | Rs.122091 |
| Rs.4000 | Rs.851616 + Free Insurance | Rs.712084-Income Tax | Rs.139532 |
| Rs.5000 | Rs.1064520 + Free Insurance | Rs.890105-Income Tax | Rs.174415 |
LIC Maturity Calculated @10% I.R.R
