Life is unpredictable, you never know what will happen in the next few moments. Therefore it is advisable to secure your present as well as future so that no future financial crisis will befall the family. When it comes to investment and life safety without risk, a name that usually pops up in the mind is Life Insurance Corporation (LIC). This article will tell you about a newly launched scheme of LIC Jeevan Umang.
A cover for 100 Years….
If you are planning to invest without risk, then you can invest in the Jeevan Umang policy of LIC. This is an endowment plan. In this, you’ll get a lumpsum on maturity along with life cover. This policy can be purchased for a person between 15 years to 55 years. The most important thing is that in this policy you are covered for 100 years.
A return of 8% for life-long….
In a situation, where the policyholder dies, the person and the family is given a lumpsum amount i.e. the amount of premium paid till the death. And on the death of the policy holder the premium is returned to the nominee. The premium paying term in this policy is 15, 20, 25 and 30 years, one can choose as per their convenience.
If you finish the entire premium of the policy on time, then the policy holder is given a minimum amount with a guarantee, which is you’ll continue to get the return after paying the entire installment, which is 8 percent of the insurance ann
Get a Return of 94 lakh rupees by Just Paying ₹199
To understand this, let’s take an example, suppose you are currently 25 years old, and you have opted for the 15 year premium paying term plan (74 years term) option, then you will have to pay a total premium of Rs 10,93,406. During this time period, you will get a total estimated return of Rs 94,72,500 on investing Rs 199 daily.After paying the premium for 15 years, from the age of 40, 8% of this amount will be returned every year for lifetime, which will be Rs 72,000 annually.
Benefit in Tax saving
Under Section 80C of the Income Tax Act, you can get a tax rebate on premium up to Rs 1.5 lakh. Apart from this, the policy holder gets tax exemption under Section 10D while getting the maturity amount. Thus resulting in a double benefit.
Check status Online, this way
To know the policy status, you can visit the LIC website www.licindia.in. For this, you’ll have registered. To register, visit the website link https://ebiz.licindia.in/D2CPM/#Register. Now enter your name, policy number, date of birth. After this, when you are registered, you can open your LIC account and check the status.