If you're looking to buy a policy that will give you huge returns, check out this scheme of LIC Jeevan Umang here.
Life is uncertain and this makes it even more important take certain steps in advance so that one's family does not have to face a financial crisis in future. There's no doubt that when it comes to investment and life safety without risk, most people rely on the Life Insurance Corporation (LIC).
If you're looking to buy a policy that will give you huge returns, check out this scheme of LIC Jeevan Umang here.
1. Get cover for 100 years
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If you are planning to invest without risk, then you can invest in LIC's Jeevan Umang policy. This is an endowment plan, which means you get a lumpsum amount on maturity along with life cover. This policy can be purchased for a person aged between 15 years to 55 years. The most important thing is that in this policy you are covered for 100 years.
2. Get Rs 94 lakh for Rs 199 a day
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To understand this, suppose you are currently 25 years old, and you have opted for the 15-year premium paying term plan (74 years term) option, then it will have to pay a total premium of Rs 10,93,406. During this time period, you will get a total estimated return of Rs 94,72,500 on investing Rs 199 daily. After paying the premium for 15 years, from the age of 40, 8% of this amount will be returned every year for a lifetime, which will be Rs 72,000 annually.
3. Get 8% annual returns for a lifetime
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In the event of the death of the policyholder, the family is given a lumpsum amount i.e. the premium paid on the death of the policyholder is returned to the nominee. The premium paying term in this policy is 15, 20, 25 and 30 years. Any of the options can be chosen as per the convenience.
If you finish the entire premium of the policy on time, then the policy holder is given a minimum amount with a guarantee, that is, you will continue to get the return after paying the entire installment, which is 8 percent of the insurance annually.
4. Benefit in tax exemption too
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In this, under Section 80C of the Income Tax Act, you get up to Rs 1.5 lakh tax rebate on premium. Apart from this, the policyholder gets tax exemption under Section 10D while getting the maturity amount.
5. How to check status online
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To know the policy status, visit the LIC website https://www.licindia.in/. For this, you have register first. To register to go to the website link https://ebiz.licindia.in/D2CPM/#Register. Now enter your name, policy number, date of birth. After this, when you are registered, you can open your LIC account and check the status.
