LIC policy news: Get Rs 48 lakh by investing Rs 71

The Life of Insurance Corporation of India is the market leader when it comes to insurance in India. LIC has several policies under its portfolio that provide growth as well as stability and protection. If you want to invest in a relatively safe plan, you can choose LIC’s New Endowment Plan number 914. 

According to LIC, its New Endowment Plan is a non-linked and participating plan. It is a life assurance plan. It offers both protection and saving features. In the case of the unfortunate death of the policy holder, this provides financial support to his family. The plan also provides a loan facility in case you need liquidity.

The death benefit in case of death of the policy holder will be at least 7 times of the annual premium. It will not be less than 105 percent of total premiums till the date of death. These include taxes, premium and riders.

The age of the person should be between 8 and 55 years. The tenure will be between 12 and 35 years. Minimum sum assured is Rs 1 lakh.

If you are 18 years of age, and you invest Rs 71 per day, you will have invested Rs 2130 per month. If you invest this money for 35 years, you will likely get Rs 48 lakh 40 thousand at the time of maturity.