I've heard that there is a LIC policy which gives more return than a recurring deposit at a bank. Is it true?

In fact, there is a policy called Saral instituted by LIC, this scheme offers an dual purpose, of being both a excellent saving scheme as well as a insurance policy.

For example; if you were to make a RC deposit at a bank, say for Rs.3000 per month over the next 10 years. At the present rates, you’d get a maturity value of approximately Rs.5.99 lacs after 10 years.

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