You Can Get 22 Lakh Rupees, 6 Lakh Rupees Risk Cover By Investing Only Rs 57 Daily; Check Details

Life Insurance Corporation of India (LIC) is one of the few trusted insurance companies in the country. It is considered very safe to invest in this company’s policy. People from the poorest to the richest invest in this government-run company policy.

Although companies have all the best policies, one of which is the ‘Jeevan Anand’ endowment policy. You can get big amount by investing in this policy of the company. Those people who know how to save and are thinking of investing their hard earned money, then investing in it would be wrong if it is said to be a better option.

Talk about the terms of this policy, the company has also set some conditions for investment. The minimum age for this plan is 28 years while this plan is for a period of 25 years. Only an Indian citizen can buy this policy. The policy comes with a term of 15 to 35 years. The minimum sum assured is Rs 1 lakh and the maximum limit is not fixed.

Talk about the features of this policy, then risk cover is also given in it. Other benefits are given along with the sum assured on the maturity of the policy. It is an endowment policy so the policyholder gets the benefit of both investment and insurance.

Talk about the features of this policy, then risk cover is also given in it. Other benefits are given along with the sum assured on the maturity of the policy. It is an endowment policy so the policyholder gets the benefit of both investment and insurance.

In this policy, how can you get Rs 22 lakh by investing Rs 57 daily? We will try to understand it with an example: –

Age: 29

Term: 31

ADDAB: 600000

Death Sum Assured: 750000

Basic Sum Assured: 600000

First Year Premium with 4.5% Tax – Annual: 21487 (20562 + 925)

Half Yearly: 10859 (10391 + 468)

Quarterly: 5486 (5250 + 236)

Monthly: 1829 (1750 + 79)

YLY Mode Average Premium / Daily: 58

After deducting the first year premium with reduced tax –

Annual: 21025 (20562 + 463)

Half Yearly: 10625 (10391 + 234)

Quarterly: 5368 (5250 + 118)

Monthly: 1789 (1750 + 39)

YLY Mode Average Premium / Daily: 57

Total Estimated Premium Payable: Rs 652237

Total Estimated Return at Maturity:

Sum Assured: 600000

Bonus: 855600

Final Additional Bonus: 780000

Total Estimated Return at Maturity: Risk cover of Rs 2235600 and Life time of Rs 600000

Suppose if a person starts investing in this policy at the age of 29 years. And if he fixes 600000 Sum Assured Plan with 31 year term plan, then he will have to invest Rs 57 daily.

In this way, after investing a total of 31 years, the policyholder will get an SA of Rs 600000, a bonus of 855600 and a final additional bonus of Rs 780000. In this way, at the time of maturity, the policyholder will get a total of Rs 2235600. At the same time, due to any untoward during the policy period, the family gets a guarantee of risk cover of Rs 600000.

(Source: jansatta.com)