There are many such plans offered by Life Insurance of India, in which you are given insurance cover for a short period of time. Also, in such a policy, more funds are also available on investment of less money. Apart from this, many other benefits are also given along with tax benefits.
Investing in LIC’s scheme is considered safe. There are many such plans offered by Life Insurance of India, in which you are given insurance cover for a short period of time. Also, in such a policy, more funds are also available on investment of less money. Apart from this, many other benefits are also given along with tax benefits. One such LIC is the LIC Jeevan Umang Policy, which provides long-term insurance and a fund of more than 28 lakhs on an investment of just Rs 44.
LIC Jeevan Umang Policy
The most important thing about this policy is that it can be bought by any Indian citizen between the age of 90 days to 55 years. In this plan, you get life cover as well as amount on maturity. Along with this, a certain amount is sent to the account of the person. For this reason, this scheme is considered different from both the policies. At the same time, if the person dies during the policy itself, then a lump sum amount is given to his family members and nominee. The most important thing about this policy is that here you are given insurance coverage up to the age of 100 years. Under the Jeevan Umang policy, it is mandatory for you to take a minimum insurance of Rs 2 lakh in insurance.
Also get benefits
Under LIC Jeevan Umang policy, cover is given on the death or disability of the policyholder. You get this benefit under term rider. Apart from this, under this policy, you are also given exemption in this policy under section 80C of the Income Tax Act. Since this policy is not market linked, market risk is also not covered under this policy.
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How to get the amount around 28 lakhs
If under this policy an investor pays Rs 1302 in a month with a saving of Rs 44 every day. So in one year this amount becomes 15,298. With this investment, if you run this policy for 30 years, then the total premium amount is Rs 4.58 lakh. After this, from the 31st year, you are given a return of 40,000 per annum under this policy. In this way, if you take this return of Rs 40,000 by the 31st year of investing, then the total amount you will get becomes Rs 27.60 lakh.