When it comes to insurance in India, the Life Insurance Corporation of India dominates the market. No private enterprise even comes close to the market share held by LIC. The public sector insurance provider has full public support in India. It is among the most successful government-owned businesses. With the new premium endowment plan from LIC, you can invest Rs. 2,100 monthly and receive Rs. 48 lakh at maturity. It provides a consistent income and then, upon maturity, a lump sum payment.
Who could invest in this plan? This plan is suitable to those who desire substantial returns on a modest investment. Investors receive high returns, insurance coverage, and tax benefits. For those who put money into it, this strategy is a win-win scenario.
The age bracket for buying this plan is between 18 and 55. This policy’s duration ranges from 12 to 35 years. There is no maximum sum ensured; the minimum is Re 1.
Here’s how you invest just Rs. 70 each day and make Rs. 48 lakh.
At the age of 18, an individual will have to decide on a 35-year term plan for this.
You must pay a yearly premium of Rs 26,534 in order to receive a sum insured of Rs 10 lakh. The premium will only be Rs 25,962 the next year. This amount equates to about Rs 71 per day or Rs 2100 per month.
By going to the LIC office that is closest to them, any investor can register for this policy. You will find comprehensive information about this plan right here. After that, you can make as many investments as you’d like, at your discretion.