Top Reasons to Use LIC Long Term Investment Plans

While the debate about long-term vs short-term investment is not uncommon, which one of them would be suitable for you would primarily depend on what you are investing for. Typically, long-term investments are made in line with retirement planning or to finance education, housing, and so on.

With long term investment, they are many advantages of starting early and investing in a good plan for the same. Some of the best options for the same in the UAE can be found in the form of LIC long term investment plans, which are considered excellent due to their features as well as the eminence of LIC International.

Read further to know more about the features and benefits of the LIC long term investment plans and how they can be beneficial for you with respect to your financial planning for the long horizon.

Features of LIC Long Term Investment Plans

Most of the long term investment plans offered by LIC International in the UAE provide the benefits of investment and insurance in one place. With the LIC long term investment options, you can easily get the best of both worlds and make savings for the long term so that all your goals and milestones are fulfilled.

Let’s go through the general features of the best LIC plans with respect to long term investment-

1. Easy to invest

With the LIC long term investment plans, you can get started immediately towards a stable and secured financial future. The application process for these plans is easy and can be completed with minimal documentation. You can explore the LIC plans best suited to your long-term planning and future goals on the official website of LIC International as well as policybazaar.ae.

2. Flexibility to withdraw

Unlike other long-term options, LIC long-term investment plans offer higher flexibility. For instance, if you have invested in a 5-year LIC plan, you may have the option to extend your tenure subject to the terms and conditions.

3. Long-term protection

As mentioned earlier, one of the remarkable benefits of most LIC long term plans is that they provide cover for the policyholder’s life and provide a lump sum amount, to the former’s beneficiaries in case of their demise. With a combination of maturity benefits, death benefits, and additional guarantees in case of the policyholder’s demise, long-term protection is ensured by these plans.

4. Cost-effective

LIC long term investment plans are highly cost-effective. The premiums are not high and are affordable for most. Thus, more and more people can become part of this and make long-term plans to secure their future.

Benefits of LIC Long Term Investment Plans

After exploring the features of LIC long-term investment plans, let’s look at some of their major benefits –

1. Help override market fluctuations

A major advantage of the LIC long term investment plans is that they can easily overcome short-term market fluctuations. In that sense, your investment is safe and has the potential to generate great returns provided you stay invested for the long term.

2. Plan for retirement and other goals

LIC long term investment plans offer a wide range of schemes and policies tailored to your retirement requirements. Thus, besides providing a stable income post-retirement to ensure a comfortable retirement life, these plans can also help you save sufficient money for your specific goals.

3. Compound investment

LIC long term investment plans can help compound your returns over time, which can offer you excellent returns at maturity. Similar to the point of overriding market fluctuations, staying invested for the long term is the key here.

4. Provides loan facility

Finally, you can also draw a loan on a few long-term investments provided the plan has achieved surrender value or reached the specified mark. This feature can highly extremely beneficial in times of emergency.

Who Should Opt for LIC Long Term Investment Plans?

As we saw earlier, it is best to start early and stay invested for a long to make the most of your long-term investment plans. In this regard, LIC long term investment plans are suitable for individuals in their 20s or 30s, who have a stable income and are planning for retirement or any other goal such as child education, financing a home, and so forth.

LIC investments can also be a great option if you are a risk-averse investor or somebody who cannot constantly monitor markets. Additionally, if you draw a fixed income and want to have a sizeable corpus later, LIC long-term investment plans can be a good investment opportunity as well.

Key Takeaways

Long-term investments can help you build a stable future for yourself and your family. To make sure that your planning is on track and done properly, you can opt for LIC long term investment plans to grow your wealth and enjoy several other benefits as well. With LIC investment plans, you can fulfil your investment and insurance requirements in one place.