Life Insurance Corporation of India (LIC), a government run concern and the largest insurance company of India, had introduced a scheme some time back. Now it seems all the stars found it irresistible and invested a huge chunk of their savings into it. Well they would have been fools not to!
There are a large number of benefits associated with this scheme and it’s the stars who are making the most.
The scheme insures a guaranteed rate of return. According to the report given by a top development officer of LIC of India, "Moreover, it also carries a risk cover six times the maturity sum assured in the first year. In the subsequent years, it becomes two times the maturity sum because the scheme guarantees a certain percentage of income every year. Now here's the best part – the interest earned on this investment is totally tax-free."
Wish to take a wild guess as to how much could they have invested?
Sah Rukh bought himself a policy worth Rs 8 crores. Akshay too has invested the same amount and the little nawab has invested a little less – Rs 7 crore in the policy. Sachin’s investments have surpassed that made by any other star. He is reported to have invested a whooping 18 crore into the policy.
The policy which matures after a period of 10 years is sure to bear enormous returns to all those who have invested and in addition also save upon their taxes. Shah Rukh will end up getting a sum of Rs 16 crores plus a loyalty of Rs 40 lakhs at the end of 10 years.
That’s what I call, having the cake and eating it as well.