LIC super saving scheme: Invest Rs 2000 per month and get Rs 48 lakh return, know the details!
Life Insurance Corporation of India (LIC) has several programs for different consumer groups, and investment opportunities start from Rs 500 per month. Due to the frequent revisions and amendments made by LIC in its Endowment Policy, it now helps you to get higher returns even if you save and invest an amount as low as Rs 74 each day.
LIC's new endowment plan is an attractive blend of savings and protection features. It is a non-linked, participating, individual life insurance plan. Surviving policyholders receive financial assistance for this combination along with a lump sum payment for the family of the pre-maturity deceased at any time before maturity. Through its credit facility, the scheme also addresses the issue of liquidity.
The minimum and maximum entry age under this policy are 8 and 75 years respectively. The minimum and maximum policy terms are 12 and 35 years respectively. If a person buys a 1 lakh policy at the age of 20 years then the minimum annual premium for 15 years of insurance will be Rs 6,978, Rs 3,930 for a policy term of 25 years, and Rs 27,54 for a policy term of 35 years.
If your child is 8 or 9 years old and the monthly investment is not high, you can get this coverage in their name. If your child is under the age of eight, you can buy coverage in your own name. This policy term is suitable for customers who wish to invest a small amount for a longer period, such as monthly or annually.