The Life Insurance Corporation of India (LIC) has been a trusted name among investors in India for years. People seeking safe investments and good returns often choose LIC plans. The company offers a variety of policies for children, young people, and the elderly. Although many people avoid policies due to the high premiums, LIC offers some plans that offer attractive returns with low premiums. One popular plan is the LIC Jeevan Anand policy.
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Why the Jeevan Anand policy is considered a better option
LIC Jeevan Anand is a policy that combines term insurance with maturity benefits. This plan is considered suitable for those seeking a safe investment at a low premium and high returns in the long term. It offers a minimum sum assured of ₹1 lakh, with no maximum limit. It can prove to be a good option for those looking to build a strong fund for the future.
How to Build a Large Fund with a Low Premium
The investment period in this plan is between 15 and 35 years. If an individual chooses this policy for 35 years, they must deposit approximately ₹1,358 per month. This translates to a daily investment of approximately ₹45. Regular investments can generate a corpus of approximately ₹2.5 million upon policy maturity. This amount amounts to approximately ₹16,300 annually, which can easily be accumulated as savings.
Bonuses Increase Total Returns
The special feature of the Jeevan Anand policy is that it offers two types of bonuses. If an investor pays premiums for 35 years, their total investment is approximately ₹570,500. The basic sum assured in this policy is fixed at ₹5 lakh. Upon maturity, the policyholder also receives a revisionary bonus and a final bonus. The estimated revisionary bonus can be ₹8.60 lakh, and the final bonus can be around ₹11.50 lakh. This means the investor receives returns many times greater than the deposit amount. However, the bonus benefit is only available on policies with a term of 15 years or more.
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Additional Benefits of the Jeevan Anand Policy
This plan offers the option to include several optional riders. Features include the Accidental Death and Disability Rider, Accident Benefit Rider, New Term Insurance Rider, and New Critical Benefit Rider. If the policyholder dies during the policy term, the nominee receives 125% of the death benefit. However, this plan does not offer tax exemption benefits, making it a purely investment and protection-based plan.