LIC Saving Scheme: Life Insurance Corporation of India (LIC) is well-known in the insurance sector. People prefer investing in LIC policies for both good returns and security.
LIC offers a variety of policy plans to suit everyone, from senior citizens to children, and these plans can provide excellent returns. However, some people hesitate to invest due to high premiums. Fortunately, LIC has schemes with lower premiums that can still offer great returns. One such scheme is LIC’s Jeevan Anand policy. With this policy, you can create a fund of Rs 25 lakh by saving only Rs 45 daily.
Throughout this article, we will explain how people can benefit from the LIC Jeevan Anand scheme, step by step.
High Returns with Low Premium
The LIC Jeevan Anand policy is an excellent option for securing high returns with a low premium. It offers the benefits of both life cover and investment. The minimum sum assured in this plan is Rs 1 lakh, with no maximum limit.
LIC Jeevan Anand Policy Calculation
To avail of the benefits of this policy, you need to invest Rs 1,358 monthly, which is approximately Rs 45 per day. By doing this, you can accumulate Rs 25 lakh over the maturity period. The policy duration ranges from 15 to 35 years.
For a 35-year investment, the expected maturity amount will be Rs 25 lakh. Additionally, you will save up to Rs 16,300 annually.
Bonus Benefits
This plan offers two types of bonuses:
- Revisionary Bonus: After maturity, the policyholder will receive a revisionary bonus of Rs 8.60 lakh.
- Final Bonus: A final bonus of Rs 11.50 lakh will also be given.
These bonuses are in addition to the total amount deposited. To be eligible for these bonuses, the policy must last for at least 15 years.
Additional Benefits of Jeevan Anand Policy
- Accident Benefits: This policy includes riders such as Accidental Death and Disability Rider, Accident Benefit Rider, New Term Insurance Rider, and New Critical Benefit Rider.
- Death Benefit: In case of the policyholder’s death, the nominee will receive 125% of the death benefit.
- No Tax Exemption: However, there is no tax exemption available under this policy.
This policy provides a combination of security and long-term financial growth through attractive bonuses and riders.