If you are a working person, then you must worry about your future and invest a part of your earnings in a place from where you get good returns in a short time, in this context you can rely on Life Insurance Corporation (LIC), which constantly introduces new schemes to provide life security to the people. Their latest offering, Jeevan Umang Yojana, is designed for the elderly and promises a stable pension for 100 years with a minimum initial investment. Let's know about this scheme-
Benefits of LIC's Jeevan Umang Policy
Long-Term Pension: Jeevan Umang's policy ensures an annual pension of Rs 36,000 up to the age of 100, making it a reliable source of income in your retirement years.
Endowment Plan: This is a special endowment plan, which combines insurance cover with investment returns. It provides life cover right from the beginning and starts paying returns after a few years.
Wide eligibility range: Anyone from 90 days to 55 years can invest in this plan, making it accessible to a wide demographic.
Key Features
Guaranteed income: Once the policy matures, the policyholder starts receiving a fixed income. In the unfortunate event of the policyholder’s death before maturity, the nominee receives the lump sum maturity amount.
Tax benefits: Policyholders can avail of tax deductions under Section 80C of the Income Tax Act, giving them additional financial relief.
Sum Assured: The policy guarantees a sum assured of Rs 2 lakh, ensuring a substantial amount for the policyholder or their nominee.
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