LIC Plan – 5 years Double Money : If you are looking to double your invested money as soon as possible, you might be wondering how many years it will take to double your money in LIC (Life Insurance Corporation of India) plans. In this article, we will give you complete information on how many years it takes to double money in LIC, and also inform you about LIC schemes that are capable of doubling money in just 5 years
LIC Plan 5 years Double Money
What is LIC Mutual Fund?
LIC Mutual Fund is a subsidiary of LIC which manages funds for investors. Through LIC MF, investors’ money is invested in bonds, stock market and many other places. Investing in LIC mutual funds offers higher returns compared to traditional LIC policies.
Investing in which fund of LIC will double money in 5 years?
To double your money in 5 years, you will need to invest in a fund that returns 15% annually. We have compiled a list of LIC funds that have the potential to double or even double investors’ money in 5 years.
LIC MF Large Cap Fund
This is the first plan of LIC to double money in 5 years. The scheme has returned 16.3% per annum in the last 5 years. If you had invested ₹100000 in this mutual fund, your investment would have been worth ₹212000 in 5 years. By investing in this fund, your money has more than doubled in 5 years.
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LIC MS ETF Nifty Fifty-50
This is another plan to double money in 5 years. LIC takes investors’ money in the form of mutual funds and invests it in India’s 50 largest companies listed on India’s National Stock Exchange, called the Nifty. As per last few years return, this scheme has given annual return of 17.6% in last 5 years. If you invest ₹5000 in SIP every month, you will get approximately ₹526000 in a period of 5 years.
LIC MF Large and Mid Cap Fund
This is LIC’s third money doubling plan in 5 years. LIC’s Large Mid Cap Fund is one of the popular schemes of popular mutual funds. According to last 5 years data, this scheme has given 18.5% annual return to people. Investing in this scheme can double your money in just 4 years.
If you want to double your money in 5 years by investing in LIC, you need to invest in a fund that returns at least 15% annually. LIC’s Mutual Funds are the best way to invest your money and get higher returns as compared to traditional LIC policies. By investing in LIC’s MF Large Cap Fund, MS ETF Nifty 50-50 or Large and Mid Cap Fund, your money can double in 4 to 5 years.