Life Insurance Corporation of India is the most trusted insurance company in India with a market share of more than 60 percent. The company is known for its innovative schemes that give good returns as well as insurance cover. It also provides tax breaks which is why people throng to buy these LIC policies. Today, we will tell you about LIC Jeevan Anand, a policy you can buy for great returns. You can invest as less as Rs 2500 to buy a policy that will provide you a massive corpus.
Jeevan Anand is one of the most popular schemes of the LIC of India. In this policy, you can invest less and get good returns. After your tenure is over, you don't have to pay any premiums. You can earn lakhs using LIC Jeevan Anand.
Here's the calculation. If you are 35 years old and you take the policy for 20 years, you will have to pay Rs 30000 per year. This translates into Rs 2500 per month or Rs 83 per day.
After 20 years, you would have paid Rs 5 lakh after 20 years. In return, you will get 20 installments of Rs 4,50,000 apart from your return. So in total, your corpus will be Rs 9.50 lakh.
"LIC’s New Jeevan Anand Plan is a Non-linked, Participating, Individual, Life Assurance plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lump sum at the end of the selected policy term in case of his/her survival," LIC said in its sales brochure.
LIC also gives you loan benefits on the plan.
Apart from this, in the unfortunate event of death, the person's family will get the sum assured on death which is equal to 125 percent of Basic Sum Assured or 7 times of annual premiums. The death benefit will not be less than 105 percent of total premiums.
Minimum Basic Sum Assured is Rs 1 lakh.
Minimum Age at entry 18 years (completed).
Maximum Age at entry 50 years (nearer birthday).
Maximum Maturity Age 75 years (nearer birthday).
Minimum Policy Term 15 years.
Maximum Policy Term 35 years.
