Today we will discuss such a policy here in which you can get 10 lakh rupees on maturity of the policy by depositing only 73 rupees per day. Along with this, it also provides you with lifetime death cover.
LIC policy: Despite all the new investment options coming in the country, LIC remains the favorite of the people even today. LICC’s risk free and lump sum amount attracts people. Today we will discuss such a policy here in which you can get 10 lakh rupees on maturity of the policy by depositing only 73 rupees per day. Along with this, it also provides you with lifetime death cover.
Let us tell you the features of this policy –
– Minimum age to take policy: 18 years
– Maximum age of entry into the policy: 50 years
– Maximum maturity age: 75 years
– Minimum policy term: 15 years
– Maximum policy term: 35 years
– Premium Payment Mode: Yearly, Half Yearly, Quarterly or Monthly
Any individual can buy LIC New Jeevan Anand policy. The minimum Basic Sum Assured under this policy is Rs 1 lakh. There is no maximum limit of sum assured.
Policy can be surrendered at any time
The policy can be surrendered at any time provided premiums have been paid for the full two years. On surrendering the policy, the policyholder will get the surrender value equal to the Guaranteed Surrender Value and the Special Surrender Value.
Loan
Loan can be taken under the policy. If the loan is taken during the premium paying term, the maximum credit will be up to 90% of the surrender value.
Death benefit
In case of death of the policyholder during the policy term, the nominee will receive 125% of the Basic Sum Assured or seven times the annualized premium. On the death of the policyholder after the end of the policy term i.e. from the stipulated date of maturity, his nominee will receive the Basic Sum Assured.
Maturity benefit
The policyholder will get the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, at the end of the term. If you buy a new Jeevan Anand policy with a sum insured of Rs 5 lakh at the age of 24 years for policy terms of 21 years, your annual premium will be Rs 26,815 or approximately Rs 73.50 per day/ Rs 2190 monthly. If you take a policy of 21 years, then your investment will be around Rs 5.63 lakh, but at the time of maturity you will get Rs 10.33 lakh including bonus.
