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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 only Rs 45 daily.
The most special thing about Jeevan Anand policy is that it offers many more benefits. Actually, it is a kind of term policy. There are four types of riders 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 the policyholder does not get the benefit of any kind of tax exemption on investing in this policy.
How to create a fund of 25 lakhs from 45 rupees
Suppose your age is 30 years. You have to take this policy of sum assured of Rs 5 lakh. In such a situation, you will have to pay a premium of Rs 1341 every month. This premium will be around Rs 45 per day. You will have to invest in it for 35 years. After 35 years, you will get Rs 25 lakh. In this Rs 25 lakh, there will be Rs 5 lakh sum assured, Rs 8.50 lakh bonus and about Rs 11.50 lakh 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 policyholder will get a risk cover of at least Rs 6.25 lakh. This can be increased to Rs 30 lakh.
The maturity period in this is from 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 should 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.
