Life Insurance Corporation of India (LIC) offers many investment schemes, but one of the most popular is the Jeevan Anand Policy.
This scheme allows you to build a significant fund by investing a small amount every day.
You can use this fund for various purposes, such as higher education, marriage, or other important needs. In addition to this, the scheme offers several other benefits.
How the Jeevan Anand Policy Works
The LIC Jeevan Anand Policy helps you create a large fund by investing less than Rs 200 daily. For example, with daily deposits of around Rs 197, you could accumulate a fund of Rs 20 lakh over 30 years.
The minimum sum assured is Rs 1 lakh, but there is no upper limit— you can accumulate a fund as large as you wish, depending on the amount you invest.
To give you an idea of how the policy works, if you are 21 years old and want to build a Rs 20 lakh fund, you would need to pay approximately Rs 5922 monthly for the first year (around Rs 197 per day).
After the first year, the premium reduces slightly to Rs 5795 monthly (about Rs 193 per day).
Policy Benefits and Features
The Jeevan Anand Policy is a term maturity plan, meaning the premium needs to be paid for the chosen policy term (for example, 30 years).
If the policyholder passes away during the term, the nominee receives 125% of the sum assured or 105% of the premiums paid up until death.
Additionally, the policy offers a bonus benefit. By investing about Rs 200 daily for 30 years, you could earn a bonus of around Rs 30 lakh.
For further details, it’s best to visit the nearest LIC branch. Moreover, you can also take a loan against this policy.
Who Can Avail of This Plan?
This policy is available to anyone between the ages of 18 and 50. The policy term ranges from 15 to 35 years,
and premiums can be paid on a monthly, quarterly, half-yearly, or yearly basis, offering flexibility to suit individual needs.
