Are you looking for a straightforward yet potent means of securing your financial future? What if we told you that investing just ₹200 daily could help you with a mathematical path to a great ₹20-lakh fund over time? Sounds too good to be true? Let’s break down the math and explain how the LIC Jeevan Anand policy can help you achieve it.
How the LIC Jeevan Anand Policy Works
The LIC Jeevan Anand Policy is a unique plan that combines investment and insurance so that with the help of this policy, you can create wealth with financial security for the family. Here’s how this works:
- You will pay a certain premium for a fixed number of years (ranging from 15 to 35 years).
- The plan ensures a life cover and bonus accumulations for your increased returns.
- Any little investment in a day can become hugely over time due to the power of compounding.
From Example: 200 ₹ Daily to 20 Lakhs
Ok. Let’s consider you are a twenty-one-year-old insured for thirty years. Here is how it is calculated:
- Monthly Premium: 5,922~ ₹ (appr.. ₹197/day).
- Total Investment for 30 Years: 5,922 × 12 × 30 = ₹21,31,920.
- Estimated Maturity Value: Based on bonuses and compounding, the fund can go to ₹20 lakh or above, depending on the bonuses declared by LIC.
Did we forget to tell you? After a year, your premium might go down a little so that it becomes more affordable.
Major Benefits of The Policy LIC Jeevan Anand
- Cost-Effective Investment: You start with a modest ₹200 daily and create a significant fund.
- Life Cover: In the case of death, the nominee will receive either the sum assured multiplied by 125% or the premiums paid multiplied by 105%.
- Bonus: Bonuses paid add value to and help increase your maturity amount.
- Loan: Should funds be required urgently? A loan can be obtained under the policy.
- Flexibility in Payment: Premium payment can be done on a monthly, quarterly, half-yearly, or yearly basis according to one’s convenience and choice.
- A Guarantee of Retirement: A tax-free lump sum is guaranteed for the post-retirement life.
Who Should Invest in This Policy?
This plan is suitable for:
- An individual between the ages of 18 and 50 looking to create long-term wealth.
- Anyone wishing for life coverage and savings.
- Guaranteed return schemes with low risk for those investors.