This LIC plan can give you Rs 48 lakh if you invest just Rs 74 daily; details here

Investing in a good insurance plan is on the agenda of many people. But often we find ourselves delaying the search for a good plan and leaving financial planning for the future. This is a grave mistake and can cause immense financial problems for your loved ones in the event of any unfortunate incident. Luckily, there are several plans in the market, which give you assured savings so that your family is financially secure in case of an untimely death. One such plan is the New Endowment Plan by the Life Insurance Corporation of India. The LIC’s New Endowment plan can give policyholders as much as Rs 48 lakh at the time of maturity even if they invest Rs 74 daily. What is the LIC New Endowment Plan? It is a non-linked, participating, individual life assurance plan offered by LIC. The minimum basic sum assured is Rs 1 lakh. There is no upper limit on the basic sum assured. Minors can also participate in the scheme. The minimum entry age is 8 years. The maximum age to enter the plan is 55 years. Policyholders can invest in the scheme for a period of 12-35 years. Furthermore, the New Endowment Plan offers a mix of income and protection. It provides death benefit on the demise of the life assured during the policy term, provided “the policy is in-force shall be “Sum Assured on Death” along with vested Simple Reversionary Bonuses and Final Additional bonus, if any”. For more details you can visit the LIC’s website here. Investment details: If you take a 35-year policy and the Basic Sum Assured is Rs 1lakh, you will have a premium of Rs 2,881 per year. At the end of your term, the total maturity amount will be Rs 2,49,000. If you opt for a Rs 10 lakh policy for a period of 35 years, then you will have an annual premium of Rs 26,500, which boils down to Rs 74 per day. At the end of the policy you will gain Rs 48, out of which Rs 10 lakh will be your sum assured, Rs 15 lakh your bonus and the remaining Rs 23 lakh will be the Final Additional Bonus (FAB). Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.