SIP investment

LIC Policy for Doubling Your Money with in 5 Years

Insurance Investment Life Insurance

If you’re on the lookout for a reliable investment strategy to help you grow your wealth, look no further! In this comprehensive guide, we unveil the LIC Plan-5 Years Double Money, a compelling investment opportunity offered by the Life Insurance Corporation of India (LIC). This plan comes with unique features and rewards, promising the potential to double your investment in just five years. Read on to understand how this strategy works and how it can align with your financial objectives.

Understanding Life Insurance Policies

A life insurance policy is essentially a contractual agreement between an insurance company and a policyholder. The policyholder pays a premium in exchange for coverage, with the insurance company providing benefits in the event of the policyholder’s death or upon maturity.

Key Features and Advantages of LIC Plan-5 Years Double Money

1. Guaranteed Returns:

This plan assures a return on investment, offering peace of mind as your money is not only secure but also set to grow over time.

2. Short Investment Tenure:

With a five-year tenure, this plan provides a quick return period, making it ideal for short-term financial goals or diversifying your investment portfolio.

3. Multiple Premium Payment Options:

Tailor your premium payments to your financial capacity, with options for lump-sum payments or monthly instalments.

4. Tax Advantages:

Enjoy tax benefits by deducting premiums under Section 80C of the Income Tax Act of 1961, helping reduce your overall tax liability.

5. Loan Facility:

In times of financial emergencies, you can borrow against your LIC Plan-5 Years Double Money without liquidating your entire investment.

6. Life Insurance Coverage:

Alongside investment rewards, the plan includes life insurance coverage. In the unfortunate event of the policyholder’s demise during the term, the nominee receives the sum insured and any accrued bonuses.

Risk Management in Wealth Management

LIC Pension Plus Scheme in the LIC Plan 5 Years Double Money Category

The LIC Pension Plus Plan within this category stands out as an excellent choice. Geared towards doubling your investment within five years, it offers a consistent income stream post-retirement. While a lock-in period restricts early withdrawals, policyholders can surrender the plan after this term to receive their invested funds.

1. LIC Pension Plus Plan Details:

Policy Period: 10-42 years

Premium Payment Term: Minimum 5 years

Maximum Sum Assured: No cap

Minimum Sum Assured: 1 Lakh

Age Limit: 25-75 years

Key Characteristics:

Managed by LIC Mutual Fund: Enhances confidence and trustworthiness.

Retirement Savings: Facilitates easy retirement savings with a choice of risk options.

Minimum Investment: Rs. 20,000, with lump sum payment options.

Policy Term: 5 to 20 years, initiating regular pension payments thereafter.

2. Saral Jeevan Bima LIC

LIC Saral Jeevan Bima is a short-term risk coverage life insurance policy ensuring financial security for the policyholder’s family in case of demise within the coverage period.


Standard Term Plan: Offers cost-effective security.

Simple Terms and Conditions: Easy to understand.

Premium Payment Flexibility: Pay once, regularly, or for a set time (5/10 years).

Tax Advantages: Subject to Income Tax Act of 1961.


Simplicity: Traditional terms for easy comprehension.

Affordability: Budget-friendly protection plan.

Security: Financial stability for the policyholder’s family.

Flexibility: Premium payment options tailored to preferences.

3. LIC Dhan Sanchay-

LIC Dhan Sanchay helps generate post-maturity income, with death benefits paid to nominees if the policyholder passes away during the term. This 5-year LIC plan offers options such as Single Premium Level Income Benefit and Single Premium Enhanced Cover with Level Income Benefit.

Eligibility Criteria:

Entry Age: 3 years to 65 years

Single Premium: Rs. 2 lakh to no limit

Policy Term: 5, 10, or 15 years

Sum Assured on Death:

Single Premium Level Income Benefit – Rs. 2.5 Lakhs

Single Premium Enhanced Cover with Level Income Benefit – Rs. 22 Lakhs

Death Benefit Payout: Lump sum or in instalments over a 5-years period.

Maturity Benefit: Guaranteed Income Benefit and Guaranteed Terminal Benefit after the designated maturity date.

4. LIC MF Large & Mid Cap Growth Fund

The LIC MF Large & Mid Cap Fund – Growth is a top-rated insurance policy aiming to quadruple your money in five years. Operating as a mutual fund within LIC’s portfolio, it allocates 96% to equity assets of large-cap and mid-cap companies.

Fund Details:

Investment Objective: Long-term capital growth via large and mid-cap companies.

Fund Category: Large and Midcap Fund

Minimum Investment: INR 1000

Exit Load: 1% if redeemed within one year

Investment Options: Lump sum and SIP

Fund Manager: Mr. Sudhir Kedia

Benchmark: Nifty Large Midcap 250 TRI


Managed by LIC Mutual Fund: Combines large and mid-cap equities for long-term capital appreciation.

Flexible Approach: Balances stability and growth potential with 35-65% allocation to large-cap and mid-cap companies.

Accessible Investment: Start with Rs. 1,000 and opt for Systematic Investment Plan (SIP).

In conclusion, these LIC investment options provide diverse opportunities tailored to different financial goals and preferences. Always consult with a financial advisor to ensure alignment with your unique circumstances and objectives.