Get the amount of Rs 66 lakh by investing Rs 129 daily in this LIC policy

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LIC Jeevan Anand Policy: This is an endowment policy, so the policyholder gets the benefit of both investment and insurance. Risk cover is also given in this policy. Other benefits are given along with the sum assured on the maturity of the policy.

Life Insurance Corporation of India (LIC) is one of the most trusted insurance companies in the country. The government sees the operation of this company and this is why people trust it. Crores of people have invested in different policies of LIC. LIC offers different policies to customers. These policies are designed in such a way that people from the poor to rich class can invest.

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Although LIC has different policies today we will tell you about LIC’s ‘Jeevan Anand’ policy. In this policy of the company, you can get a hefty amount of Rs 66 lakh by investing Rs 129 daily. Along with this policy also provides you a risk cover of Rs 15,00,000 in a lifetime. It is a participatory non-linked policy that provides protection and savings to the investee.

Read This Also: Get 25 thousand rupees pension every month by giving an installment in this policy of LIC, life-long benefits

Risk cover is also given in this policy. 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. The policy comes with a term of 15 to 35 years. Any person between 18 and 50 years of age is eligible to invest in the policy. The minimum sum assured is Rs 1 lakh and the maximum limit is not fixed.

Now the question is, how can you get Rs 66 lakh by investing Rs 129 daily in this policy? We will try to understand it with an example:

Age: 27
Term: 33
ADDAB: 1500000
Death Sum Assured: 1875000
Basic Sum Assured: 1500000

First Year Premium with 4.5% Tax –

Annual: 48326 (46245 + 2081)
Half Yearly: 24426 (23374 + 1052)
Quarterly: 12345 (11813 + 532)
Monthly: 4115 (3938 + 177)
YLY Mode Average Premium / Daily: 132

After deducting the first year premium with reduced tax –

Annual: 47286 (46245 + 1041)

Half Yearly: 23900 (23374 + 526)
Quarterly: 12079 (11813 + 266)
Monthly: 4027 (3938 + 89)
YLY Mode Average Premium / Daily: 129

Total estimated premium payable: Rs 1,56,1478

Total Estimated Return at Maturity:
Sum Assured: 1500000
Bonus: 24,25,500
Final Additional Bonus: 27,00,000

Total estimated return at the time of maturity: Risk cover of Rs 6625500 and lifetime of Rs 15,00,000

Suppose if a person starts investing in this policy at the age of 27 years. And if he fixes 1500000 Sum Assured Plan with 33 years term plan, then he will have to invest Rs 129 daily. In this way, after investing a total of 33 years, the policyholder will get an SA of Rs 15,00,000, a bonus of 24,25,500, and a final additional bonus of Rs 27,00,000. In this way, at the time of maturity i.e. at the age of 60, the policyholder will get a total of Rs 66,25,500. At the same time, due to any untoward during the policy period, the family gets a guarantee of risk cover of Rs 15,00,000

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