Invest Rs 172 per day to get Rs 28.5 lakh - Here's how

Life Insurance Corporation (LIC), India's largest insurance company, always comes up with offers and policies, keeping in mind the needs of every person in the country. LIC's Jeevan Lakshya Policy is one such policy through which you not only get insurance cover but also several benefits related to savings. BY investing in this scheme, you can get up to Rs 28.50 lakh by depositing just Rs 172 per day.

All about LIC's Jeevan Lakshya Policy 

It is a non-linked, participating, individual, life assurance plan. Under this plan, the policyholder gets an Annual Income Benefit. This helps in meeting the needs of the family and especially the children. In case of unfortunate death of the policyholder anytime before maturity, the lump sum amount is paid to the nominee or legal heir of the policyholder.

You can take this policy with a basic sum insured of at least Rs 1 lakh. However, there is no limit on the maximum sum insured.

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If you want to take this policy, then you can take it with the policy term of 13-25 years. You have to pay a premium for a period of three years less than the policy term. You can pay a premium on a monthly, quarterly, half-yearly, and yearly basis.

You have to be at least 18-years-old to invest in this policy. The maximum age to enter this policy is 50 years. Notably, the maximum age for maturity is 65 years.

How can you get Rs 28.50 lakh?

According to the LIC calculator, if a 29-year-old person takes a policy for 25 years with a sum insured of Rs 15 lakh, then he can get Rs 28.50 lakh on getting a double bonus at the time of maturity.

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If a person takes this policy with a sum insured of 15 lakhs and chooses the policy term of 25 years, then he will have to pay the premium for 22 years. According to the LIC calculator, a person will have to deposit a premium of Rs 5,169 per month (about Rs 172 per day). GST of 4.5 percent will be payable on the premium in the first year and 2.25 percent from the second year. If the policyholder dies during the policy term, the nominee will get a lump sum amount of Rs 16.5 lakh.