Benefits of LIC Scheme:

1. You can deposit Yearly, Quarterly, or Monthly(ECS) in LIC Scheme.
2. Maturity received in LIC scheme is TAX FREE under section 10-10d of Income tax act.
3. The amount deposited in LIC is exempted under section 80c of Income tax act.
4. You ca continue LIC scheme after 10 years. You cannot continue post office scheme after 1 years.
5. If you forgot to take maturity at the end of the 10 years. You can get return beyond 10 years in LIC scheme. This is not available in post office scheme.
6. Get free insurance with LIC scheme.
7. LIC is awarded by trust brand No.1
8. 1000′s of Insurance agents to help you and collect your premiums from your office/Home. In Post office scheme home service is not available.

Maturity at the end of the 10 years in Monthly Scheme

Premium	LIC Return	Post Office Return	LIC Gain
Rs.500	Rs.106452 + Free Insurance	Rs.89010 -Income Tax	Rs.17442
Rs.1000	Rs.212904 + Free Insurance	Rs.178021-Income Tax	Rs.34883
Rs.1500	Rs.319356 + Free Insurance	Rs.267031-Income Tax	Rs.52325
Rs.2000	Rs.425808 + Free Insurance	Rs.356042-Income Tax	Rs.69766
Rs.2500	Rs.532260 + Free Insurance	Rs.445052-Income Tax	Rs.87208
Rs.3000	Rs.638712 + Free Insurance	Rs.534063-Income Tax	Rs.104649
Rs.3500	Rs.745164 + Free Insurance	Rs.623073-Income Tax	Rs.122091
Rs.4000	Rs.851616 + Free Insurance	Rs.712084-Income Tax	Rs.139532
Rs.5000	Rs.1064520 + Free Insurance	Rs.890105-Income Tax	Rs.174415

LIC Maturity Calculated @10% I.R.R