New Delhi: Investment is a lifelong affair. Investing your hard-earned money in assets, which can generate enough returns is highly valuable. Let us have a look at the Life Insurance Corporation (LIC), a monster in the insurance and financial services sector plan’s LIC Jeevan Umang Policy. It is the endowment scheme that offers protection and security also.
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Jeevan Umang Policy is different from others as apart from protecting the life of the insured, a life insurance policy aids the policyholder in saving regularly over a predetermined length of time so that, in the event of survival during the policy term, a lump sum payment is available at policy maturity.
The endowment policy pays the entire sum assured to the beneficiaries on the unfortunate death of the insured amid the policy term. Individuals of the age group 90 days to 55 years can take benefits. The scheme offers coverage for up to 100 years.
You will get the benefit of the annual income of up to 100 years that the behemoth offers after the completion of the premiums. You will get 8 per cent of the amount of the plan. For instance, you are of 26 years now and purchase a policy cover of 4.5 lakh. You will have to pay the premium for up to 30 years.
If you have deposited all the premiums up to the predetermined age, you will start getting 8 per cent i.e Rs 36,000 of the amount from the 31st year.
