The Life Insurance Corporation of India (LIC) offers various programs to its customers, some of which guarantee pension payments, while others provide a stable regular income. Among the most popular programs is the LIC Jeevan Anand plan, which is distinguished by the fact that participants receive not one, but two bonuses for their investments. Thanks to this plan, a significant sum of 25 lakh rupees can be accumulated.
If a person prefers to avoid a large financial burden and wants to accumulate a large sum through small daily savings, the LIC Jeevan Anand plan can be very useful. The LIC corporation provides two types of bonuses: Simple Reversery Bonus and Final Additional Bonus. The advantage of the LIC bonus lies in increasing the policy redemption amount on which a loan can be taken.
In addition to receiving funds after the term expires, the LIC Jeevan Anand plan provides additional benefits, which increases its popularity. An important feature of this scheme is that in addition to receiving the fund at the end of the term, the insured person continues to receive insurance coverage even after the policy term ends. Thus, within one program, one can receive both a large fund and life protection.
By investing in the New Jeevan Anand Policy scheme, contributing about 1358 rupees monthly, one can accumulate a fund of 2.5 million rupees, provided there are long-term investments. If invested for 35 years, 2.5 million rupees will be received upon the expiration of the policy. Calculating based on 1358 rupees per month, this amounts to approximately 45 rupees daily, which totals about 16,300 rupees annually. However, the redemption amount depends on the policy term, age, and bonuses.
Let's look at the full calculation of bonuses in LIC Jeevan Anand: when choosing a Sum Assured of five lakh rupees, with daily investments of 45 rupees over 35 years, approximately 5.70 lakh rupees will be accumulated. Furthermore, the participant will be provided with a revisionary bonus of 8.60 lakh rupees and a final additional bonus of 11.50 lakh rupees. Thus, thanks to the double bonus in the policy, significant benefits are obtained.
The plan is also popular due to accessible riders. If the insured participant dies for any reason, the nominee will receive 125% of the policy payouts. Moreover, if death occurs before the policy term expires, the nominee will receive an amount equal to the sum assured specified in the documents. Options such as Accident and Disability Rider, Accident Rider, New Term Insurance Rider, and New Critical Illness Rider are also available. Nevertheless, this plan does not provide tax benefits.