Advantage of LIC's SIIP over Mutual Fund.
1. LIC's SIIP offers Guaranteed additions., But no Mutual fund plan gives guarantee.
2.LIC's SIIP is 100% Tax free. But in Mutual fund your returns will be liable for TDS (Tax deducted at source, 10% to 15%).
3.In the event of unfortunate death, LIC's SIIP will give 10 times of your annualised premium as insurance claim to your loved ones.
But in Mutual fund only the fund value will be given to nominee.
4.In LIC' SIIP you can claim upto 1.5 lakh as 80 c exemption, but in Mutual fund it is not available except in ELSS schemes.
5.In LIC's SIIP you have switching option from one fund type to another, But in MF no such facility.
6.If we consider past performance, LIC's SIIP has given a growth of over 20% in last 7 months at a time when many Mutual fund schemes are giving negative return.
(on 2nd March 2020:
NAV was 10.
On 30 October 2020: NAV is 12.06).
What more you want from a linked plan.??
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