LIC Plan 5 Years Double Money

Who doesn’t want to make their money double while doing nothing? Nowadays, Investment has become one such excellent method. It helps to secure the money and grow the money with time. The LIC plan 5 years double money is just a perfect investment choice that provides assured profits and the opportunity to double your money quickly. With its appealing features, flexibility, and tax advantages, this plan can assist you in efficiently achieving your financial goals.

If you invest in an LIC fund, the money will double in 5 years. We have compiled a list of various best LIC plans to double money in 5 years.

Before going to the benefits, let’s start with its list of the LIC plan 5 years double money.

List of Best LIC Plan 5 Years Double Money

LIC Pension Plus Plan
LIC MF Large & Mid Cap Fund
LIC MF Nifty 100 ETF
LIC Term Assurance Plans
LIC Micro Insurance Term Plans

Let’s look at the best LIC plans for 5 years one by one with their unique vital characteristics:

1. LIC Pension Plus Plan

The LIC Pension Plus plan is one of the best LIC plans with 5 years of double money. This best LIC plan 5 years double money, is a unit-linked pension plan that provides the policyholder a monthly income after retirement. As this LIC program doubles the money in five years, there will be a 5-year lock-in period, which implies you can only remove the funds after 5 years. After 5 years, you can resign and withdraw the money.

LIC Pension Plus plan overview

Policy period	10-42 years
Age limit	25-75 years
Minimum sum	1 lac
Maximum sum	No limit
Premium Payment term	Minimum 5 years

Key Features:

This LIC plan 5-year double money strategy is overseen by LIC Mutual Fund, which increases assurance and trustworthiness.
The plan makes it easier to save for retirement and ensures a regular income after retirement.
Insurers can select between stock, debt, or a combination based on their risk tolerance.
A minimum investment of Rs. 20,000 is required, with lump sum payment alternatives available.

Also Read: LIC Jeevan Shanti Pension Plan Calculator

2. LIC MF Large and Mid Cap Fund

If we examine the LIC’s track record over the previous five years, we may learn about the best LIC plan 5 years double money, which is the LIC MF Large and Mid Cap Fund. It is one of the most popular funds, with money doubling in 5 years.

This LIC mutual fund invests 96% of its assets in equities of big-size and midcap firms. The LIC Large & Mid Cap Fund is a mutual fund that manages an open-ended equity plan.

LIC MF Large and Mid Cap Fund Overview

Investment objective	Long-term financial appreciation will be provided by investing in a combination of large-cap and mid-cap firms.
Fund Category	Large and Mid-Cap Fund
Fund Manager	Mr. Sudhir Kedia
Minimum Investment amount	Rs. 1,000/-
Investment Options	SIP and Lump Sum
Exit Load	1% if returned after one year of the allocation date
Benchmark	Nifty Large Midcap 250 TRI

Key Features:

The LIC Large & Mid Cap Fund is an open-ended equity strategy carefully managed by LIC Mutual Fund.
The fund aims to produce long-term capital appreciation by combining big and mid-cap equity securities. As a result, it has been among the best LIC policies for 5 years over the past five years.
The fund takes a flexible strategy, investing between 35% and 65% of its assets in large-cap firms and an equal amount in mid-cap companies to balance stability and growth potential.

3. ETF LIC MF Nifty 100

One of the LIC plan 5 years double money is ETF LIC MF Nifty 100. This is the finest LIC strategy for doubling your money in 5 years. This ETF’s investing goal is to deliver returns tied to the performance of the Nifty 100 index. This best LIC policy for 5 years allows you to participate in the index’s top 100 firms, 72 of which are large-cap and 28 of which are mid-cap.

ETF LIC MF Nifty 100 overview

Investment objective	Seek to match the total returns of the assets to the Nifty 100 Index while allowing for any tracking variances.
Asset class	Equity
Listing exchange	National Stock Exchange (NSE)
Expense Ratio	0.10% (as of September 30, 2021)
Risko meter	Moderately high
Minimum Investment Amount	One unit (at the time of its first listing, each ETF unit was priced at about Rs. 1,000).
Exit Load	None
Index tracked	Nifty 100 index

Key Features:

The LIC Nifty 100 ETF runs as an exchange-traded fund managed by LIC Mutual Fund.
This ETF is specifically designed to deliver results that correspond to the performance of the Nifty 100 index.
This ETF may expose investors to the top 100 firms in the index. This allocation includes 72 large-cap firms and 28 mid-cap firms.

4. LIC Term Protection Plans

The LIC term assurance plan is an essential component of the LIC plan 5 years double money series. It acts as necessary life insurance protection, offering critical financial stability for one’s family for a low price. This is among the best LIC policies for 5 years.

It includes two plans, which are given below:

LIC Anmol Jeevan II

This is the best LIC plan 5 years double money that offers risk coverage. It provides the nominee a lump sum death benefit if the insured dies within the policy period. This plan provides excellent financial security by offering an insured sum of up to Rs. 24 lakhs.

Eligibility criteria	Minimum	Maximum
Entry Age	18 years	55 years
Maturity Age	–	65 years
Policy Tenure	5 years	25 years
Premium Paying term	5 years	25 years
Premium payment mode	Half-yearly and yearly	–
Sum Assured	Rs. 6 lakh	Rs. 24 lakh

LIC Amulya Jeevan II

It is also vital to the most excellent LIC plan 5-year double money insurance plan. It is intended to offer critical financial security for the insured’s family in the tragic event of their death during the policy term. However, if the insured lives the policy term, there will be no maturity benefit.

Eligibility Criteria	Minimum	Maximum
Entry Age	18 years	60 years
Policy Tenure	5 years	35 years
Maturity Age	–	70 years
Premium Paying term	5 years	35 years
Sum Assured	Rs. 25 lakh	No upper limit
Premium Payment Mode	Half-yearly and Yearly	–

5. LIC Micro Insurance Term Plans

LIC’s micro-insurance policies have been customized for our society’s lower-income groups. This LIC plan for 5 years double money provides them with financial stability at a low premium cost. These plans guarantee that families may protect themselves against unexpected events without risking their financial resources. Let’s look at the two programs of it below:

LIC’s New Jeevan Mangal Scheme

The LIC New Jeevan Mangal Plan is a 5-year LIC plan that aims to give financial stability to the policyholder and their family members at a low price.

Eligibility Criteria	Minimum	Maximum
Entry Age	18 years	55 years
Maturity Age	–	65 years
Single Premium Policy tenure	5 years	10 years
Regular premium Policy Tenure	10 years	15 years
Sum Assured	Rs. 10,000/-	Rs. 50,000/- (in multiple of 1000)
Premium paying term	5 years	13 years
Single premium amount	Rs. 60	Vary based on the sum assured, entry age, policy term, and other factors.
Premium payment mode	Regular premium – monthly, Quarterly, half yearly, yearly.	–

LIC Bhagya Lakshmi Scheme

The LIC Bhagya Lakshmi Scheme is the best LIC plan for 5 years of double money, which is a non-participating program with minimal payment protection. This best LIC policy for 5 years provides financial stability for the policyholder’s loved ones, making it an excellent choice of Investment.

Eligibility Criteria	Minimum	Maximum
Entry Age	18 years	42 years for PPT 5 years 55years for PPT 6-13 years
Maturity Age	–	65 years
Policy Tenure	PPT+2 Years	7 Years 15 Years
Premium Paying term	5 Years	13 Years
Sum Assured	Rs 20,000/-	Rs. 50,000/- (In multiples of Rs 1,000/-)
Premium payment mode	Monthly, Quarterly, Half yearly, Yearly, and in Single Premium.

Benefits of LIC Plan 5 Years Double Money

Doubling your money through a LIC plan 5 years double money method has many benefits. Here are a few of them given below:

1. High Returns

The possibility for significant returns is the key advantage of the 5-Year Double Money LIC Plan. This plan provides an appealing growth opportunity by doubling the investment amount within five years.

2. Life Insurance Coverage

Besides the investment component, this LIC best plan for 5 years includes a life insurance component. LIC plan 5 years double money method ensures that your loved ones will be financially protected throughout the policy term.

3. Tax Advantages

Policyholders can also take advantage of tax advantages under current tax regulations under best LIC policies for 5 years.

4. Flexibility

The LIC plan 5 years double money provides policyholders with options for payment frequency, allowing them to select the option that best matches according to their financial circumstances.

Conclusion

The LIC plan for 5 years of double money is an appealing prospect for investors wishing to double their money quickly. This plan provides financial stability and development. However, before investing, you should carefully consider your financial goals, understand the dangers, and get professional advice.

LIC Plan 5 Years Double Money – FAQs

Is the LIC plan 5 years double money right for you?

Ans. This plan’s applicability varies from person to person. Before making a selection, consider your goals and risk tolerance. Consulting a professional advisor in finance can give helpful information.

How long does it take for money in LIC to double?

Ans. If you invest in LIC’s mutual funds, you will get 15% interest on your money. As a result, your money will double in five years.

Which LIC life insurance policy is the most affordable?

Ans. The cheapest LIC life insurance policy is the LIC Jeevan Lakshya Policy, which offers returns of up to Rs 28 lakh for an investment of as little as Rs 172.