Despite numerous investment choices available today, some options continue to earn people’s trust over the years.
LIC is one such trusted name, with many still choosing its schemes for their investment portfolios.
One popular option is LIC’s Jeevan Anand policy, which allows investors to accumulate a fund of ₹25 lakh by saving just ₹45 daily.
Benefits of LIC’s Jeevan Anand Policy
The Jeevan Anand policy provides a sum assured starting from ₹1 lakh, with no upper limit.
It includes bonuses, death benefits, and other valuable features.
This is a term policy with four types of riders: Accidental Death and Disability Rider, Accident Benefit Rider, New Term Insurance Rider, and New Critical Benefit Rider.
If the policyholder passes away, the nominee receives a 125% death benefit. However, there are no tax benefits under this policy.
Additional Features of the Policy
Eligibility and Maturity
Anyone aged between 18 and 50 years can purchase this policy. The maximum maturity age is 75 years, with policy terms ranging from 15 to 35 years.
Flexible Payment Options
Premiums can be paid monthly, quarterly, half-yearly, or yearly. The policy can be surrendered anytime after paying at least two full years of premiums. Upon surrender, LIC pays the higher of the Guaranteed Surrender Value or Special Surrender Value.
Loan Facility
Loans can also be availed against the policy.
How to Accumulate ₹25 Lakh
To accumulate ₹25 lakh, you can opt for a sum assured of ₹5 lakh, which requires a monthly investment of ₹1,358 (approximately ₹45 daily).
Annually, this amounts to ₹16,300. Over a span of 35 years, the total investment will be ₹5,70,500.
Upon maturity, you will receive ₹5 lakh as the sum assured, ₹8.50 lakh as a bonus, and approximately ₹11.50 lakh as a final additional bonus, totaling ₹25 lakh.
