The savings schemes of the country’s largest insurance company Life Insurance Corporation of India (LIC) are very popular in terms of both security and returns. Policies are available for people of all age groups in LIC, where you can collect big funds even with a little investment. One such scheme is LIC’s Jeevan Anand policy, in which you can deposit a corpus of Rs 25 lakh by saving just Rs 45 per day. Many types of benefits are also available in this policy.
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Thick fund with a low premium
If you want to raise a big fund for yourself at a low premium, then the Jeevan Anand policy can prove to be a great option. In a way, it is similar to a term policy. You can pay premiums for as long as you have the policy. In this scheme, the policyholder gets not one but many maturity benefits. In this scheme of LIC, there is a sum assured of at least one lakh rupees, while no maximum limit has been fixed.
This is the math of Rs 45 to Rs 25 lakh
In LIC Jeevan Anand Policy, you can get Rs 25 lakh by depositing around Rs 1358 every month. If you look at it per day, you will have to save Rs 45 every day. You have to do these savings for the long term. Under this policy, if you invest for 35 years while saving Rs 45 daily, then after the completion of the maturity of this scheme, you will get an amount of Rs 25 lakhs. If you look at the amount you saved annually, it will be around Rs 16,300.
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THIS much amount is received by adding bonus benefits
If you invest Rs 16,300 every year in this LIC policy for 35 years, then you will invest a total deposit of Rs 5,70,500. Now according to the policy term, the Basic Sum Assured will be Rs 5 lakh, with which after the maturity period, you will be given a revision bonus of Rs 8.60 lakh and a final bonus of Rs 11.50 lakh. Bonus is given twice in LIC’s Jeevan Anand policy, but for this, your policy must be of 15 years.
No tax exemption, but the rider-death benefit
The policyholder taking the Jeevan Anand policy of the Life Insurance Corporation of India is not given the benefit of any tax exemption under this scheme. However, if you look at its benefits, you get four types of riders in it. These include Accidental Death and Disability Rider, Accident Benefit Rider, New Term Insurance Rider, and New Critical Benefit Rider.
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Only death benefit has been added to this policy. That is, if the policyholder dies due to any reason, then the nominee will get a 125% death benefit of the policy. On the other hand, if the policyholder dies before the maturity of the policy, then the nominee gets money equal to the time assured.
