LIC New Premium Endowment Plan: The Life Insurance Corporation of India (LIC) has recently introduced a new premium endowment plan that offers a unique opportunity for individuals to invest in their future and the future of their loved ones. With this plan, you can invest just Rs 71 per day and get a fund of Rs 48.5 lakh on maturity.
This plan is designed to provide regular income during the policy term, as well as a lump sum payment at the end of the term. This money can be used to pay off outstanding debts, finance your child’s education, or provide for your family’s future needs. In addition to the attractive returns, the plan also offers life insurance coverage and tax benefits.
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One of the key benefits of the LIC new premium endowment plan is the potential for high returns on your investment. By investing just Rs 71 per day, you can get a fund of Rs 48.5 lakh on maturity. This is a significant return on your investment and can provide financial security for you and your loved ones.
In addition to the potential for high returns, the plan also offers life insurance coverage. This means that if something were to happen to you, your family would be financially protected. The plan also offers tax benefits, which can help to reduce the overall cost of the plan.
To invest in this plan, simply visit your nearest LIC branch and speak with a representative. They will be able to provide you with more information about the plan and help you determine if it’s the right choice for you and your family. You can then decide how much to invest and start making monthly payments to begin building your fund.
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Eligibility:
To invest in the Life Insurance Corporation of India (LIC)’s new premium endowment plan, individuals must meet certain eligibility requirements. These include a minimum age of 8 years, a maximum age of 55 years, and a policy term of 12 to 35 years. The minimum sum assured for the plan is Rs 1 lakh, while there is no maximum limit (investments must be made in multiples of Rs 5,000).
For example, if an individual buys the endowment plan at the age of 18 and chooses a term of 35 years, they will need to pay an annual premium of Rs 26,534 for a sum assured of Rs 10 lakh. From the second year, this premium will be reduced to Rs 25,962. On a daily basis, this amounts to an investment of Rs 71. At maturity, the investor will receive a return of more than Rs 48 lakh, for a total investment of Rs 9.09 lakh.
It’s important to note that the amount of money you will receive upon maturity will depend on the amount you invest and the length of time you invest for. The more you invest and the longer you invest for, the larger your fund will be at maturity.
