New Delhi, Dec, 20: The Life Insurance Corporation of India (LIC) has a wide range of policies where a small number of premiums can lead to huge returns after the maturity period. LIC policies are a great option for you if you want to save some money for your retirement and old age.
LIC offers a varied number of policies for its investors, which have a low-risk factor and great returns, which can secure you and your family’s future. One of the most popular and low-risk investment schemes in the company is the LIC Jeevan Umang Policy.
The LIC Jeevan Umang Policy can offer you a good return with a small amount of investment. Firstly, anyone aged from 90 days to 55 years can opt for this policy. It is a long-term investment opportunity, where after maturity, a lump sum amount is provided with the life insurance.
As per the calculations made for the LIC Jeevan Umang Policy, if you pay a monthly premium of Rs 1302 on this policy, you will pay Rs 15,298 in a year, which means that if you keep this policy for 30 years, the money will be around Rs 4.58 lakh.
After you turn 31, the company will be paying you Rs 40,000 every year on your investment. If you take a 40-thousand-rupee annual return from 31 to 100 years, you’ll collect almost Rs 27.60 lakh. In case of the investor’s accidental death or disability, a term rider benefit will also be available.
A great thing about the LIC Jeevan Umang Policy is that market risks have no impact on their return or investment. The only things that can have an impact on returns are the revenue and losses of LIC. This policy qualifies for a tax exemption under section 80C of the Internal Revenue Code.
Source: DNA
