The Life Insurance Corporation of India provides plans in all categories. From young infants to the elderly, LIC policies are offered. You are protected and your returns are guaranteed by these policies. Additionally, you can invest little amounts and accumulate large sums of money in several of these.
LIC’s Jeevan Anand Policy is one such scheme that allows you to save just Rs 45 a day and earn Rs 25 lakh. The Jeevan Anand Policy (LIC Jeevan Anand) presents a compelling choice for those seeking substantial returns at a reasonable premium.
It is similarly comparable to a term policy in certain ways. In this plan, you can continue to pay premiums until the policy’s expiration. Additionally, this policy offers several maturity benefits under a single scheme.
Get Rs 25 lakh by depositing Rs 45
With the LIC Jeevan Anand Policy, you may save about Rs 45 per day and receive Rs 25 lakh by making a monthly investment of Rs 1358. But over an extended period of time, you will need to deposit this sum each month.
Its policy duration is 15 to 35 years, meaning that if you invest under it for 35 years and save Rs 45 every day, you will receive Rs 25 lakh when the insurance matures. When we calculate your annual savings, we find that it comes to about Rs 16,300.
What will you get on investment for 35 years?
A monthly investment of Rs 1358 will result in a yearly deposit of Rs 16,300. In this manner, a total of Rs 5,70,500 will be invested over 35 years. If you invest for 35 years, on the other hand, your sum assured would be Rs 5 lakh, to which you will receive a final bonus of Rs 11.50 lakh and a revisionary bonus of Rs 8.60 lakh upon maturity. LIC’s Jeevan Anand policy offers a double bonus, but only if the policy is in effect for 15 years.
What will be the benefit in this policy?
The Jeevan Anand policy offers four different types of riders, but the policyholder does not benefit from any tax exemptions under this scheme. These consist of the New Term Insurance Rider, New Critical Benefit Rider, Accident Benefit Rider, and Accidental Death and Disability Rider. The nominee will receive 125 percent of the policy’s death benefit in the event of a death.