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LIC Jeevan Anand: Everyone saves some amount from their income and wants to invest it in such a place where even their small savings can accumulate big funds in future. In such a situation, the savings plans of the country’s largest insurance company, Life Insurance Corporation of India (LIC), are very popular in terms of both security and returns. LIC has policies available for people of all ages. One such scheme is LIC’s Jeevan Anand Policy, in which you can collect a huge fund of Rs 25 lakh by saving just Rs 45 daily. Let us know about it in detail…
You will be able to raise a large amount at a low premium
If you want to raise a large fund for yourself at a low premium, then Jeevan Anand policy can prove to be a great option. In a way it is similar to a term policy. You can pay the premium for the period for which your policy is in force. In this scheme, the policyholder gets not just one but multiple maturity benefits. The sum assured in this scheme of LIC is at least Rs 1 lakh, while no maximum limit has been fixed.
How to make Rs 25 lakh from 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 on a daily basis, you will have to save Rs 45 every day. You will have to make these savings for the long term. Under this policy, if you save Rs 45 daily and invest for 35 years, then after the maturity of this scheme you will get an amount of Rs 25 lakh. If we look at the amount saved by you on an annual basis, it will be around Rs 16,300.
You get this much amount with bonus
If you invest Rs 16,300 every year in this LIC policy for 35 years, then the total amount you will invest will be Rs 5,70,500. Now the basic sum assured as per the policy term will be Rs 5 lakh, with which after the maturity period you will be given a revisionary bonus of Rs 8.60 lakh and by adding this amount, a final bonus of Rs 11.50 lakh will be given. Bonus is given twice in LIC’s Jeevan Anand policy, but for this your policy should be for 15 years.
No tax breaks, still big benefits
Here let us tell you that in this LIC policy the policyholder does not get the benefit of tax exemption. However, apart from this there are many other benefits also. If we look at the details, we come to know that there are 4 types of riders available on Jeevan Anand policy. These include Accidental Death and Disability Rider, Accident Benefit Rider, New Term Insurance Rider and New Critical Benefit Rider. Death benefit has also been added to this policy. That means, if the policyholder dies, the nominee will get 125 percent of the death benefit of the policy. At the same time, if the policyholder dies before the policy matures, then the nominee gets money equal to the assured time.