LIC Scheme: Save ₹45 Daily, Get ₹25 Lakhs and Lifetime Insurance..
LIC's New Jeevan Anand (Plan 915) is a policy widely regarded as an excellent blend of both savings and insurance. This scheme is designed specifically for individuals seeking a substantial corpus and lifelong protection over the long term, all at an affordable premium.
Small Daily Savings, Big Benefits at Maturity
Under this scheme, a significant financial corpus can be built through modest investments. For instance, if a 35-year-old individual opts for a 35-year policy term with a Sum Assured of ₹5 lakh, they would be required to pay an annual premium of approximately ₹16,300. This translates to a monthly saving of roughly ₹1,359, or about ₹45 per day.
Over the entire policy term, the total investment amounts to approximately ₹5.70 lakh; however, at maturity—based on prevailing bonus rates—the policyholder could receive a total payout of up to ₹25 lakh. This payout comprises the Sum Assured, along with accrued Reversionary Bonuses and a Final Additional Bonus.
Insurance Coverage Continues Even After Maturity
The most distinctive feature of this policy is that the insurance coverage does not cease upon maturity. Even after the maturity proceeds have been disbursed, a life cover of ₹5 lakh continues for the remainder of the policyholder's life, thereby providing an added layer of financial security for the family.
Tax Benefits and Loan Facility
Investments made under this scheme qualify for tax deductions under Section 80C of the Income Tax Act, while the maturity proceeds and death benefits are exempt from tax under Section 10(10D). Furthermore, after two years, policyholders have the option to avail of a loan against the policy should the need arise; additionally, a grace period of 15 to 30 days is provided for the payment of premiums.
Who Can Benefit?
Individuals aged between 18 and 50 years are eligible to invest in this scheme for a policy term ranging from 15 to 35 years. The scope of protection can be further enhanced by adding riders—such as those covering Accidental Death or Critical Illness—according to individual requirements. For those seeking to build a substantial financial corpus and secure lifelong protection through a modest investment, this LIC scheme proves to be a reliable and trustworthy option.
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