LIC Mega Scheme – If you’re someone who wants to invest without taking risks and still build a big savings fund for the future, LIC has come up with a plan that might just interest you. With a monthly contribution of just ₹1,111, this scheme claims to give returns of up to ₹86 lakh by the time the policy matures. Sounds interesting, right? Let’s break down how this LIC plan works and whether it’s a good fit for your financial goals.
What Exactly Is This ₹1,111 LIC Scheme?
This scheme is a traditional savings plan mixed with insurance coverage. That means you not only grow your money over time but also stay protected with life insurance during the policy period. It’s not a market-linked plan, so your returns won’t be affected by stock market ups and downs. Instead, it’s more stable and comes with bonus benefits that LIC declares from time to time.
Although this scheme isn’t officially called the ₹1,111 plan by LIC, it’s likely based on plans like LIC Jeevan Labh, which is known for giving both guaranteed returns and bonus additions.
How Does the ₹86 Lakh Return Actually Work?
Let’s take a basic example. If someone invests ₹1,111 per month (which totals around ₹13,332 annually), and continues it for 25 years, here’s a general estimate of how the returns may look:
- Total Investment Over 25 Years: ₹3,33,300
- Sum Assured: ₹10 lakh
- Estimated Bonus Additions: ₹65 lakh (can vary year to year)
- Total Return on Maturity: Around ₹85 to ₹86 lakh
- Life Insurance Cover: ₹10 lakh during policy term
Keep in mind, the exact maturity amount depends on your age, policy term, and bonuses LIC declares each year. But yes, reaching close to ₹86 lakh is possible under favorable conditions.
What Affects Your Final Payout?
Several things play a role in how much money you actually get in the end. These include:
- Your age when you buy the policy
- Duration of the policy (longer terms usually mean more bonuses)
- The sum assured you opt for
- Bonus rates declared by LIC over time
If you start young and stay invested for 25 to 35 years, you’ll likely end up with a decent corpus.
Who Should Go for This Scheme?
This LIC plan is great for people who:
- Want guaranteed returns without market risk
- Are planning for long-term goals like children’s education, marriage, or retirement
- Prefer steady savings over aggressive investments
- Want tax savings under Section 80C
- Need life insurance coverage along with savings
Whether you’re a salaried professional, small business owner, or even a student, the low monthly cost makes it affordable for most people.
Top Benefits of the LIC ₹1,111 Scheme
Let’s look at why this scheme is gaining popularity:
- Low Investment Requirement: Just over a thousand rupees a month
- Life Insurance Included: Offers financial protection to your family
- Tax Deductions: Premiums qualify for tax savings, and maturity amount is usually tax-free
- Stable Growth: No dependence on the stock market or mutual fund performance
- Bonus Additions: LIC gives yearly bonuses that add up to a big amount by the end
Are There Other Similar Plans?
Yes, LIC offers a few other plans that also mix savings and insurance. Here are some examples:
| Plan Name | Monthly Premium | Policy Term | Potential Returns | Features |
|---|---|---|---|---|
| LIC Jeevan Labh | ₹1,111 | 25 Years | ₹85-90 Lakh | Endowment with bonuses |
| LIC New Endowment | ₹1,200 | 20-35 Years | ₹30-70 Lakh | Traditional savings plan |
| LIC Jeevan Anand | ₹1,500 | 15-35 Years | ₹40-80 Lakh | Savings + lifetime cover |
| LIC Bima Jyoti | ₹1,000 | 15-20 Years | ₹25-50 Lakh | Guaranteed returns |
Each plan has its own unique structure. It’s best to pick one based on your personal financial needs.
How to Enroll in This Scheme
Getting started is simple. Here’s what you need to do:
- Visit your nearest LIC branch or talk to a registered LIC agent.
- Choose a suitable plan like Jeevan Labh.
- Provide basic documents like Aadhaar card, PAN card, income proof, and medical history.
- Decide your monthly premium and choose the policy term.
- Complete any medical checks (if required) and make your first payment.
Once everything is processed, you’ll receive a policy bond, and your plan will officially begin.
This LIC scheme, where you invest ₹1,111 per month, offers a smart combination of life insurance and long-term savings. It’s perfect for people who don’t want to deal with stock market risks but still dream of creating a solid financial cushion. While the ₹86 lakh figure is not guaranteed for everyone, it’s certainly achievable under the right conditions.
Also Read:
SBI Marriage Savings Scheme: Secure Your Daughter’s Marriage with Zero Loans and Full Support
Just remember – returns can vary based on bonuses and the specific plan you choose. So before investing, always consult a trusted LIC advisor who can help you pick the right plan based on your age, income, and future goals.