Business News:Savings are very important in everyone’s life. If you want your small savings to become a big fund one day, then a special policy of Life Insurance Corporation of India (LIC) can be a great opportunity for you. We are talking about LIC’s Jeevan Anand policy, which not only provides security but also generates huge returns in the future. The biggest feature of this scheme is that by saving only Rs 45 daily, you can create a fund of up to Rs 25 lakh. Let’s understand its calculation.
This is how you will get big benefits from small savings
Usually people think that a big amount is needed to create a big fund, but this scheme of LIC has given an opportunity to create a big fund with small investments. If you save about Rs 1,358 every month, i.e., just Rs 45 every day in the Jeevan Anand policy, then you can get a fund of up to Rs 25 lakh after 35 years of investment. In this, you get insurance protection and the fund also increases through bonus.
How is a fund of 25 lakhs created?
If you deposit Rs 16,300 every year for 35 years in this policy, then your total investment will be Rs 570,500. On maturity of the policy, not only is your principal returned, but an additional benefit of about 20 lakh rupees is also added to it in the form of a bonus. This includes Rs 5,00,000 basic sum assured, Rs 8,60,000 (approx.) revisionary bonus and Rs 11,50,000 (approx.) final additional bonus. Overall, you get a fund of about 25 lakh rupees on maturity.
Another special thing about this policy is that it gives the benefit of a double bonus. LIC gives a revisionary bonus to the policyholder every year and also adds a lump sum final bonus at the time of maturity. But this benefit is available only when your policy is at least 15 years old.
Insurance cover along with maturity benefit
By investing in this scheme, you get insurance protection along with maturity benefits. If, unfortunately, the policyholder dies during the policy term, the nominee gets a death benefit of 125% of the sum assured. Apart from this, four types of riders can also be added to it like accidental death, disability, critical illness and term insurance riders.
