new Delhi. Everyone wants his future to be safe, so that he saves from the beginning. This is even more important for low salaries and private workers as they do not have other facilities like government employees. LIC’s Jeevan Anand Policy can prove beneficial for such people. Because you can add a big amount from small savings daily. In this, you can get up to 7 lakhs with a saving of just Rs 63 per day. So what is the scheme and know how to invest.
What is Jeevan Anand policy
LIC Jeevan Anand Policy This is a participating non-linked policy that provides protection and savings to the investor. In this policy, you also get a risk cover of Rs 15,00,000 in life time. Other benefits are given along with the sum assured on the maturity of the policy. The policy comes with a term of 15 to 25 years. The minimum sum assured is Rs 1 lakh. While the maximum limit is not set.
How to pay premium
For this policy, you can pay the premium on yearly, 6 months, quarterly and monthly basis. It also provides loan facility. However, for this you have to have 3 years of policy. You can add 65 rupees per day according to this. While premiums have to be paid monthly for 2029, quarterly 6087, half-yearly 12052 and annual 23857. This first year premium will be with 4.5% tax.
How to get 7 lakh rupees
If a person takes a 20-year term plan at the age of 26 and he chooses the sum assured of Rs 400000. So he will have to pay a premium of about 23344 rupees in the first year. In such a situation, you have to save about 65 rupees every month. The premium will decrease from the second year onwards as the tax rate will be 2.25%. After investing for 20 years, you will get about 764000 rupees at maturity.