New Delhi: Many people invest in Life Insurance Corporation of India (LIC) to create a big fund. By investing in it, if something untoward happens in life, the family gets a lump sum amount which they can use for their living.
However, many people stay away from investing in LIC because they feel that its premium is very high. In such a situation, you may like LIC’s policy named Jeevan Anand. The special thing about this policy is that you can create a fund of Rs 25 lakh by investing just Rs 45 daily. The
most special thing about Jeevan Anand policy is that it offers many other benefits. Actually, it is a kind of term policy. Four types of riders are available in this policy. These include Accidental Death and Disability Rider, Accident Benefit Rider, New Term Insurance Rider and New Critical Benefit Rider. If the policyholder dies due to any reason, then the nominee gets 125 percent death benefit of the policy. Keep in mind here that by investing in this policy, the policyholder does not get the benefit of any kind of tax exemption.
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How to create a fund of Rs 25 lakh from Rs 45
Suppose your age is 30 years. You will have to take this policy with a sum assured of Rs 5 lakh. In such a case, you will have to pay a premium of Rs 1341 per month. This premium will be around Rs 45 per day. You will have to invest in this for 35 years. After 35 years, you will get Rs 25 lakh. In this Rs 25 lakh, Rs 5 lakh will be sum assured, Rs 8.50 lakh will be bonus and around Rs 11.50 lakh will be final additional bonus. In this way, you will get a total of Rs 25 lakh.
What other benefits will you get from Jeevan Anand Policy?
- In this, the policy holder will get a risk cover of at least Rs 6.25 lakh. This can increase to Rs 30 lakh.
- The maturity period in this is 15 years to 35 years. You can choose the maturity period as per your convenience.
- In this policy, bonus is given twice, but for this your policy must be of 15 years.
- The minimum sum assured is Rs 1 lakh. There is no maximum limit.
- There is no benefit of income tax exemption on investing in this policy.
