By saving ₹45 daily in LIC's Jeevan Anand policy, you can create a fund of approximately ₹25 lakh in 35 years. This includes an annual bonus, final bonus, and insurance cover. The policyholder receives both a substantial maturity benefit and protection throughout the term.
LIC Scheme: Life Insurance Corporation of India's (LIC) Jeevan Anand policy offers an opportunity to build a large fund from small savings. By investing approximately ₹45 daily, or ₹16,300 annually, a policyholder can accumulate a fund of around ₹25 lakh in 35 years. This includes the basic sum assured, reversionary bonus, and final additional bonus. Along with maturity benefits, it also offers insurance cover and options for riders such as accidental, disability, and critical illness.
Big Benefits from Small Amounts
Often, people believe that a large sum needs to be invested to create a substantial fund. However, LIC's Jeevan Anand policy challenges this notion. If a person invests approximately ₹1,358 per month, or ₹45 daily, in this policy, they can receive significant benefits after 35 years. Investing in this scheme ensures a substantial amount at maturity, while also maintaining insurance coverage throughout the term.
How to Build a ₹25 Lakh Fund
In the Jeevan Anand policy, if you pay an annual premium of ₹16,300, your total investment over 35 years will be ₹5,70,500. Upon completion of the policy, LIC not only returns this amount but also transforms it into a larger sum by adding bonuses and other benefits.
The amount received at maturity includes:
- Basic Sum Assured: ₹5,00,000
- Reversionary Bonus: Approximately ₹8,60,000
- Final Additional Bonus: Approximately ₹11,50,000
Combining these three components, the policyholder can accumulate a fund of approximately ₹25 lakh.
Benefit of Double Bonus
The most significant feature of this policy is the benefit of a double bonus. LIC provides the policyholder with a reversionary bonus each year, which increases the policy's value over time. Additionally, a lump-sum final additional bonus is added upon the policy's maturity. However, this benefit is only available if the policy has been active for at least 15 years.
Insurance Protection Included
The benefits of the Jeevan Anand policy are not limited to the maturity amount. If the policyholder dies during the policy term, the nominee receives a death benefit of 125 percent of the sum assured. This means that even in the policyholder's absence, the family receives financial assistance.
Option for Additional Security
This policy also offers the opportunity to add four types of additional security options, allowing the policyholder to obtain greater coverage. These are:
- Accidental Death Cover
- Disability Cover
- Critical Illness Cover
- Term Insurance Cover
These options increase the policy's coverage and provide the investor with additional benefits in various circumstances.
Long-Term Investment, Large Return
The Jeevan Anand policy is designed for long-term investment. The longer the investment period, the greater the bonus and maturity amount. In this scheme, the life cover continues even after the premium payment term ends, which sets it apart from other schemes.
