ULIPs and mutual funds are two popular yet distinct investment avenues, each coming with its unique set of benefits and drawbacks. Know which one is better for your individual needs and preferences.
Investment policies are generally referred to in the context of long-term financial objectives. However, we may also have short-term goals that would require a policy to save and grow our assets within a leaner time frame, after which the funds would be utilised.
LIC International is a leading name in the insurance market worldwide. With its wide range of investment plans, both long and short-term planners can find suitable plans for their requirements. As far as the latter is concerned, several excellent LIC short term investment plans can be found in the UAE to fulfil our financial goals in the near future.
In the article below, we will discuss the LIC short term investment plans in 2023 for the UAE and their key features and benefits, which can also help you find the best short term lic policy for short-term investment for yourself.
Short-term investment plans generally comprise policies or schemes that can be encashed within 5 years or less. While some policy providers may allow you to extend the plan's term, the quick withdrawal feature of short-term plans makes them a good option in times of urgent or unexpected financial requirements.
The life insurance Corporation (International) has several short-term investment plans in the UAE that can help you build a corpus for your urgent or short-term goals.
Let’s go through some of the best short-term lic policy for investment and cover their salient features and benefits –
With this LIC short term investment plan, you can ensure financial protection for your family against any unfortunate circumstances and have a lump sum amount at maturity. A single premium is payable at the start of the term, with a mandatory minimum top-up premium of USD 10,000.
This plan's maturity period is of 5 years, which makes it suitable for LIC short-term investments. Moreover, there is no maximum limit (subject to underwriting) with respect to the Sum Assured, with the minimum one being USD 25,000.
Given below are some of the prime benefits of this plan –
This LIC term plan also offers coverage for 37 critical illnesses with protection against death. This plan would decide the premium rates based on your health and lifestyle specifications.
The maturity term of this plan is 5 years and can be extended up to 35 years, making it a flexible short-term investment plan that you can modify as per your preference. With this plan, you can have financial coverage for yourself and your family for the short term and make investments in your preferred financial instruments without worrying about your family’s future.
The minimum limit applicable for this plan’s Sum Assured is USD 300,000. On the other hand, no maximum limit is specified for this LIC short term investment plan.3.
This single premium LIC short term investment plan offers protection against death during the policy term as well as a lump sum amount at maturity. With a maturity term of 5 years, it is an ideal short-term investment plan for those looking for guaranteed returns. The minimum limit of the Sum Assured for this LIC plan for short term investment is USD 25,000, with no such limit being set on the upper side.
Listed below are some of the key benefits of this plan –
The final plan in our list, this LIC short term investment policy offers a life cover along with guaranteed returns. A fixed-term maturity period of 5 years along with the benefit of liquidity and guaranteed returns make it one of the best LIC plans for short term investments.
This plan has a minimum Sum Assured limit of USD 25,000 and a minimum top up premium of USD 10,000.
Here are the key benefits of the plan –
LIC short term investment plans can serve as an ideal financial vehicle for you if you are looking for investment opportunities of low risk and high liquidity, and for short time horizon. With LIC International, you can get a range of short-term investment plans based on your requirements, risk tolerance, and return expectations. Moreover, depending on your financial planning and requirements, these plans can be encashed or even transformed into long-term investments.
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