Gunjan Mehra's picture
Posted by Gunjan Mehra on January 19, 2009

Economists say money begets money. This economic principle was proved right once again as the biggest stars of India, Shah Rukh Khan, Saif Ali Khan, Sachin Tendulkar and Akshay Kumar, invested huge sums of money in LIC.

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.

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