Utility: Invest Rs 74 daily in this policy of LIC and get a return of up to Rs 48 lakh!


Life Insurance Corporation of India (LIC) has a range of plans for different types of customers and investment opportunities starting as low as Rs 500 per month. LIC frequently updates and revises its endowment policy and now the policy helps you to get better returns even if you save and invest a minimum amount of Rs 74 per day. LIC's New Endowment Plan is a non-linked, participating, individual, life insurance plan that offers an attractive combination of protection and savings features. This combination provides financial support for the family of the deceased policyholder at any time before maturity and a good lump sum amount at the time of maturity for the surviving policyholders. The scheme also takes care of liquidity needs through its loan facility.


The minimum entry age for this policy is 8 years and the maximum entry age is 75 years. The minimum policy term is 12 years and the maximum policy term is 35 years. If one takes this policy at the age of 20 years for a sum assured of Rs 1 lakh, then the minimum annual premium would be Rs 6,978 for a 15-year policy, Rs 3,930 for a policy term of 25 years and Rs 2754 for 35 years.

For example, if an 18-year-old takes an endowment policy for a sum assured of Rs 10 lakh for a policy term of 35 years, the annual premium will be Rs 26,500. This works out to Rs 2209 per month or Rs 74 per day. By investing Rs 2209 per month, you will get a maturity amount of Rs 48 lakh after 35 years. This includes a sum assured of Rs 10 lakh, a bonus of Rs 15 lakh, and a FAB of around Rs 23 lakh. The total premium amount paid will be Rs.9,27,500.

If a person aged 30 years takes the policy for a term of 35 years and the sum assured is Rs 1,00,000, the premium will be Rs 2,881 per annum. So at the end of the 35th year, the total premium paid will be Rs.1,00,835, and the total maturity amount will be Rs.2,49,000.


LIC Endowment Plan

Since the monthly investment amount is not very high, if your child is around 8 or 9 years old, you can take this policy in his/her name. If your child is less than 8 years old then you can buy the policy in your name. This policy term is good for those who want to invest a small amount every month or every year for a long period of time.