Although there are many investment options, the Life Insurance Corporation of India (LIC) offers several reliable schemes. One such scheme allows you to build a large fund by depositing a small amount daily. This fund can be used for education, marriage, or any other important expenses. Additionally, this scheme provides several other benefits.
The LIC Jeevan Anand Policy helps you create a fund of Rs 20 lakh by depositing less than Rs 200 per day. If you want to build a bigger fund, you can invest more. The minimum sum assured under this policy is Rs 1 lakh, while there is no maximum limit. You can invest as per your financial goals.
How to Build a Big Fund?
Your age and investment duration play an important role in this scheme. Suppose you are 21 years old and want to create a fund of Rs 20 lakh. You will need to invest Rs 5,922 per month for 30 years, which is around Rs 197 per day. This will be your premium for the first year. From the second year onwards, the premium will be Rs 5,795 per month, approximately Rs 193 per day.
What is This Scheme?
This is a term maturity plan, where you have to pay the premium for the chosen policy duration. For example, if you opt for a 30-year plan, you must pay premiums for that period. If the policyholder passes away during this time, the nominee will receive 125% of the basic sum assured or 105% of the total premiums paid till death.
Additional Benefits
- This plan also offers a bonus, which can significantly increase your returns. If you invest about Rs 200 daily for 30 years, you may get a bonus of approximately Rs 30 lakh.
- You can also avail of a loan against this policy.
- For more details, visit your nearest LIC branch.
Who Can Apply?
- Anyone between 18 to 50 years old can apply.
- The policy term ranges from 15 to 35 years.
- Premiums can be paid monthly, quarterly, half-yearly, or annually as per convenience.