Are you seeking for a solution to safeguard your financial future and the future of your loved ones? Look no further than the Life Insurance Corporation of India’s new premium endowment plan (LIC). You may contribute as little as Rs 71 per day or Rs 2120 per month with this innovative plan, and at maturity, you’ll receive a fund worth Rs 48.5 lakh.
This plan provides regular payments during the policy period, a lump sum payment at the end of the term, and the chance of significant gains on your investment. This money can be used to pay off debts that haven’t been paid, support your child’s education, or take care of your family’s long-term needs.
However, there are more benefits than that. To ensure your family’s financial security in the event of your passing, the plan also provides life insurance protection. Additionally, the overall cost of the plan is further reduced because tax incentives are included.
Investing in this strategy is easy. To speak with a representative, drop by the local LIC branch. They will provide you all the knowledge you need and help you decide if this plan is the best choice for you and your family. From there, you may decide how much to invest and begin saving away cash each month to begin building your portfolio.
To qualify for the LIC new premium endowment plan, a person must fulfil a number of criteria, including a minimum age requirement of 8 years, a maximum age requirement of 55 years, and a policy term requirement of 12 to 35 years. There is no maximum sum promised under the plan, and the minimum sum assured is Rs (investments must be made in multiples of Rs 5,000).
A person who buys an endowment plan at the age of 18 and chooses a 35-year term, for instance, will have to pay an annual premium of Rs. 26,534, with a Rs. 10 lakh total assured. This premium will be reduced to Rs 25,962 in the second year. This translates to a daily investment of just Rs 71 or a monthly investment of Rs 2130.
