LIC New Endowment Plan: The most well-known and largest life insurance provider in India is the Life Insurance Corporation of India. There are countless numbers of policyholders in our nation.
Despite the market’s plenty of investment opportunities, people continue to favor LIC investments. If you’re seeking a LIC plan where you can invest a small sum and obtain strong returns.
This scheme is known as the New Premium Endowment Plan. You only need to invest Rs. 71 every day in this scheme.
After that, a lump sum payment of Rs. 48.75 lakh will be given upon maturity. This plan is known as the LIC New Premium Endowment Plan.
The new premium endowment plan from LIC is what?
A non-linked, participating, individual life insurance plan is the LIC New Premium Endowment Plan. You gain the advantages of savings and insurance protection by making an investment in this program.
The investor also receives a death benefit from their investment in this scheme. The promised payment benefits the investor’s family (nominee) in the event of his death.
On the other hand, if the policyholder lives to maturity, he will receive his entire investment. By making an investment in this scheme, you are also eligible for a loan.
Eligibility for LIC New Premium Endowment Plan investments
- The scheme’s minimum sum assured is one lakh.
- Sum Assured by Maxis – No Limit (Must invest in multiples of 5000 only)
- The scheme requires a minimum investment age of 8 years.
- The scheme’s maximum investing age is 55 years.
- The scheme can mature at a maximum age of 75 years.
- 12 to 35 years is the policy term.
Let us
say that you choose a term of 35 years and purchase LIC’s new endowment plan at the age of 18, at which point you will be required to pay an annual premium of Rs. 26,534, for an assured payout of Rs. 10 lakh.
Additionally, this premium would be lowered to Rs 25,962 as of the second year. If you look at it daily in this condition, you would need to invest Rs. 71. The investor in this scenario will receive Rs. 48.75 lakh at maturity.
You will invest a total of Rs 9.09 lakh in this scheme, but you will earn a return of more than Rs 48 lakh.
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