LIC New Premium Endowment Plan: Are you looking for a way to secure your financial future and that of your loved ones? Look no further than the new premium endowment plan offered by the Life Insurance Corporation of India (LIC). This innovative plan allows you to invest as little as Rs 71 per day or Rs 2120 per month and receive a fund of Rs 48.5 lakh at maturity.
This plan offers the possibility of substantial returns on your investment in addition to regular payments throughout the policy period and a lump sum payment at the end of the term. You can use this cash to settle unpaid debts, fund your child’s education, or meet your family’s long-term requirements.
But the advantages go further than that. The plan also includes life insurance protection, so your family would be financially secure in the event of your death. And because tax advantages are incorporated, the plan’s overall cost is further decreased.
It’s simple to invest in this plan. Visit the LIC branch that is closest to you to speak with a representative. They will provide you all the information you require and assist you in deciding whether or not this plan is the best option for you and your family. From there, you may choose your investment amount and start setting aside money each month to start developing your portfolio.
People must meet specific requirements, including a minimum age requirement of 8 years, a maximum age requirement of 55 years, and a policy term requirement of 12 to 35 years, in order to be eligible for the LIC new premium endowment plan. The plan’s minimum sum assured is Rs. 1 lakh, and there is no maximum (investments must be made in multiples of Rs 5,000).
For example, an individual who purchases an endowment plan at the age of 18 and selects a 35-year term will be required to pay an annual premium of Rs. 26,534 for a total assured of Rs. 10 lakh. The second year will see a decrease in this premium to Rs 25,962. This equates to a daily investment of only Rs 71 or a monthly investment of Rs 2130.