LIC policy : Major insurance companies in India offer policies for every category. There are plans available for everyone from kids to senior citizens. These policies offer you protection and guaranteed returns. Also, in many of these places you can invest a small amount of money and accumulate huge funds. One such plan is LIC's Jeevan Anand policy, where you can accumulate a fund of Rs 25 lakh by saving just Rs 45 per day.
Jeevan Anand policy can be a great option if you want to get huge profit at low premium. In a way it can also be called term policy. You can pay the premium in this plan till the maturity of the policy.
Under the LIC Jeevan Anand policy, you can save around Rs 45 per day and get Rs 25 lakh by depositing Rs 1358 in a month. However, you have to deposit this amount every month for a long term.
The term of the policy is 15 to 35 years, that means if you save Rs 45 per day under this policy and invest for 35 years, you will get Rs 25 lakhs on maturity of this policy. If we look at the amount saved on an annual basis, it will be around Rs 16,300.
If you invest Rs 1358 every month, you will accumulate Rs 16,300 in a year. Thus, the total amount invested over 35 years will be Rs.5,70,500. However, if you invest for 35 years, your sum assured will be 5 lakhs, with a revisional bonus of 8.60 lakhs and a final bonus of 11.50 lakhs after the maturity period. LIC's Jeevan Anand policy offers twice the bonus, but this requires your policy to be 15 years old.
Benefits of the policy :-
A policyholder taking a Jeevan Anand policy does not get any tax benefits under this scheme, but you get four types of riders. These include accidental death and disability rider, accident benefit rider, new term insurance rider and new critical benefit rider. In death benefit, the nominee will get 125 percent of the policy's death benefit.
