Everyone saves a portion of their earnings and wants to invest it in a place where even their small savings can accumulate huge funds in the future. In this case, the savings plans of the country’s largest insurance company, Life Insurance Corporation of India (LIC), are quite popular both in terms of security and profitability. Policies are available at LIC for people of all ages. One such scheme is LIC’s Jeevan Anand Policy, in which you can deposit a huge corpus of Rs 25 lakh by saving just Rs 45 per day. Tell us in detail…
You will raise a large fund at a low premium
If you want to raise a big fund for yourself at a low premium, Jeevan Anand Policy can be a great option. In a way, it’s like a temporary policy. You can pay the premium while your policy is in force. In this scheme, the policyholder gets not just one but multiple maturity benefits. In this LIC scheme, a minimum sum of Rs 1 lakh is guaranteed, while no maximum limit has been fixed.
How to earn Rs 25 lakh with Rs 45?
In LIC Jeevan Anand policy, you can get Rs 25 lakh by depositing around Rs 1358 every month. If we look at it per day, you will have to save 45 rupees every day. You will have to make these savings in the long term. As per this policy, if you save Rs 45 per day and invest for 35 years, after the maturity of this plan ends, you will get an amount of Rs 25 lakh. If we look at the amount you save annually, it will be around Rs 16,300.
You get this amount with bonus
If you invest Rs 16,300 every year in this LIC policy for 35 years, the total amount deposited will be Rs 5,70,500. Now, as per the terms of the policy, the basic sum assured will be Rs 5 lakh, which after the maturity period will be given a revision bonus of Rs 8.60 lakh and a final bonus of Rs 11.50 lakh rupees. The bonus is given twice in LIC’s Jeevan Anand policy, but for this your policy must be for 15 years.
No tax exemption, still surprising benefits
Let us tell you here that the policyholder does not get the benefit of tax exemption in this LIC policy. However, apart from this, there are many other benefits available. If we look at the details, it becomes clear that there are 4 types of clauses available in Jeevan Anand’s policy. These include an accidental death and disability rider, an accident benefits rider, a new term insurance rider, and a new critical benefits rider. The death benefit benefit has also been added to this policy. That means if the policyholder dies, the candidate will get 125 percent of the policy’s death benefit. At the same time, if the policyholder dies before the policy expires, the nominee receives the amount equal to the insured period.
