If you’re looking for a secure and disciplined way to save, LIC’s Jeevan Anand Policy can help you achieve your financial goals. By saving just ₹45 per day, you can accumulate a substantial fund of ₹25 lakh over the policy term. Here’s everything you need to know about this incredible savings-cum-insurance scheme.
Why Jeevan Anand is a Smart Investment Option
LIC Jeevan Anand is designed for individuals who want both savings and life insurance. It is a participating endowment plan, meaning you get maturity benefits along with bonuses. Unlike a typical term policy, this plan offers double benefits—financial security for your family and a significant return at the end of the policy term.
Key Features:
- Minimum Sum Assured: ₹1 lakh
- Maximum Sum Assured: No limit
- Bonus Benefits: Two types of bonuses—revisionary and final—enhance your returns.
- Flexible Riders: Options to add riders for extra coverage, like Accidental Death and Disability Rider.
How to Save ₹25 Lakh by Investing ₹45 Daily
By contributing ₹1358 monthly (equivalent to ₹45 daily) for 35 years, you can accumulate a maturity amount of ₹25 lakh. Here’s a breakdown of how it works:
- Annual Investment: ₹16,300
- Total Contribution over 35 Years: ₹5,70,500
- Returns on Maturity:
- Basic Sum Assured: ₹5 lakh
- Revisionary Bonus: ₹8.60 lakh
- Final Bonus: ₹11.50 lakh
Together, these benefits add up to ₹25.10 lakh on maturity.
Added Advantages with Jeevan Anand Policy
- Life Insurance Coverage:
In case of the policyholder’s untimely demise, the nominee receives 125% of the sum assured as a death benefit. - Lifetime Coverage Beyond Maturity:
Even after the policy term ends, the life insurance cover continues, making it a lifetime benefit. - Flexible Riders for Extra Security:
The policy offers four riders to customize your coverage:- Accidental Death and Disability Rider: Ensures financial support in case of an accident.
- Accident Benefit Rider: Provides an additional amount in case of accidental death.
- New Term Insurance Rider: Offers extra life cover at a nominal cost.
- New Critical Illness Rider: Covers major health issues like heart attack or cancer.
No Tax Benefits, But High Returns
Unlike some other LIC policies, Jeevan Anand does not offer tax exemptions on premiums or returns. However, the maturity benefits and additional bonuses outweigh the lack of tax benefits.
Who Should Opt for LIC Jeevan Anand?
This policy is ideal for:
- Young Earners: Start early to save more with small contributions.
- Risk-Averse Investors: It offers guaranteed returns along with life insurance coverage.
- Long-Term Planners: Suitable for individuals aiming for wealth creation over decades.
Steps to Enroll in LIC Jeevan Anand Policy
- Visit LIC’s Official Website or Agent:
You can buy the policy through LIC’s online portal or a certified LIC agent. - Choose Your Sum Assured and Riders:
Customize your policy based on your financial goals and family needs. - Complete Documentation and Medical Check-up:
Submit identity proof, address proof, and undergo a basic health examination if required. - Start Paying Premiums:
Choose a payment mode—monthly, quarterly, half-yearly, or annually.
LIC’s Jeevan Anand Policy combines the best of savings and insurance, making it a reliable choice for individuals seeking financial stability and future security. With disciplined daily savings of ₹45, achieving a fund of ₹25 lakh is no longer a distant dream.
