By Admin 
SIP or LIC Policy: Investment has become very important for people in today’s times. Because when you suddenly need money, the money invested by you comes in handy. If you have Rs 50000 and you are confused about where to invest it.
You are feeling that you should do an annual SIP of Rs 50,000 or take a LIC policy of Rs 50,000. If you are not able to understand which of these two is more beneficial for you, then let us tell you which investment will be right for you.
Benefits of SIP of Rs 50000 annually
If you invest Rs 50000 in SIP every year. So this can make big money in the long run. If we look at the average return of 12-15%, your investment can reach around Rs 10 lakh in 10 years. The advantage of SIP is that it balances market fluctuations and increases earnings through compounding. Tax saving ELSS funds are also available in this. So you can also withdraw your investment if needed. It gives both flexibility and growth. That’s why nowadays people are investing a lot of money in it.
Also read: Mobile number linked to Aadhaar switched off? Add new number easily like this
Benefits of LIC policy of Rs 50000
Investing in LIC is a reliable investment. Investment here means saving with security. Here your money remains safe and you also get set returns. You also get insurance coverage on an annual policy of Rs 50,000, which provides financial help to the family in case of any untoward incident.
Also read: How can you get your smartphone insured, how much money do you have to spend?
The returns may be between 5-7% but it includes both tax benefits and trust. This is suitable for those who do not like market risk and want to grow their savings in a stable manner. In the long run, it becomes a means of stable and safe investment.
Which investment is more beneficial for you?
If your goal is to increase your wealth rapidly and take advantage of market growth. So SIP is a better option. It provides both flexibility and higher returns. But if your priority is security and assured returns. So LIC policy will be correct. Therefore, you should first know for how long you have to invest and what is the goal of your investment. Take decision accordingly. Both SIP and LIC policy are good options for investment.
Also read: Buying almonds and cashews for making sweets, this is how to identify real and fake.