Invest just Rs 71 in this LIC policy and get Rs 48.5 lakh on maturity, Know how
LIC has introduced a new plan called the LIC New Premium Endowment Plan in which the investors need to invest Rs 71 per day to get a maturity of Rs 48 lakhs. Details inside.
Good news investors! LIC has introduced a new policy named “LIC New Premium Endowment Plan” which aims at securing your future and the future of your loved ones! In this plan, you can invest just Rs 71 a day and get Rs 48.5 lakh on maturity.
This plan not only provide a lump sum amount at maturity, but offers regular income during the policy term. You can use this money to finance your child’s education, pay off debts or fill your family’s future needs. Along with attractive returns, the policy offers Life Insurance coverage and tax benefits.
Best part of the policy is the higher return of Rs 48.5 lakh you get at end of the term with minimal investment of Rs 71 per day. This can really help to financially stabilize your family’s future. Besides, family of the insurer also get insurance coverage amount if anything happens to him/her before end of policy term. The plan also offers tax benefits which will help to reduce the cost of your return filing.
To participate in LIC’s Premium New Endowment Plan, individuals must be at least of 8 years old and maximum of 55 years. The policy term is of 12 to 35 years. The minimum sum assured is Rs 1 lakh and there is no maximum limit.
For instance, if a person is of 18 years and he chooses for the New Endowment Plan for 18 years, then he has to pay a premium of Rs 26,534 per annum for a sum assured of Rs 10 lakh. From the second year onwards the premium reduces to Rs 25,962 per year and at maturity the individual gets a total return of Rs 48 lakh for a total investment of Rs 9.09 lakh.
Worth mentioning, the amount of maturity depends on the amount of investment and the duration. The more you invest and the longer, the maturity amount will be the more.