Everyone wants to save some amount from their income and invest it in a place where they can accumulate a huge fund and their money is safe.
In this case, the saving schemes of the country’s largest insurance company Life Insurance Corporation of India (LIC) are quite popular in terms of both security and returns. LIC has plans available for people of all ages, in which you can accumulate a huge fund by investing a little. One such scheme is LIC’s Jeevan Anand Policy, in which you can get Rs 25 lakh by saving just Rs 45 per day. Let’s know the full details about it…
Small savings, big bang
If you want to raise a huge fund for yourself at a low premium, then Jeevan Anand Policy can prove to be an excellent option for you. In a way, it is similar to a term plan. You can pay the premium for as long as you have the policy. In this scheme, the policyholder gets not one but several maturity benefits. In this scheme of LIC, the sum assured is at least Rs 1 lakh, while no maximum limit has been fixed.
How to make 25 lakhs by depositing 45 rupees
In LIC Jeevan Anand Policy, you can deposit a fund of 25 lakh rupees by depositing around 1358 rupees every month. If we look at it on a daily basis, then you will have to save 45 rupees every day. You will have to make these savings for the long term. Under this policy, if you invest for 35 years by saving 45 rupees daily, then after the maturity of this scheme you will get an amount of 25 lakh rupees. If we look at the amount saved by you on a yearly basis, then it will be around 16,300 rupees.
More benefit than double the bonus
If you invest Rs 16,300 every year in LIC Jeevan Anand for 35 years, then the total deposit amount will be Rs 5,70,500. Now as per the policy term, the basic sum assured in this will be Rs 5 lakh, with which after the maturity period you will be given revisionary bonus of Rs 8.60 lakh and final bonus of Rs 11.50 lakh added to this amount. Bonus is given twice in LIC’s Jeevan Anand policy, but for this your policy must be of 15 years.
No tax exemption, but rider-death benefit
Policyholders who take Jeevan Anand policy of Life Insurance Corporation of India are not given the benefit of any kind of tax exemption under this scheme. However, if we 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.
Only death benefit has been added in this policy. That is, if the policy holder dies due to any reason, then the nominee will get 125 percent death benefit of the policy. On the other hand, if the policy holder dies before the maturity of the policy, then the nominee gets money equal to the time assured.
