The biggest insurance company in India is called Life Insurance Corporation of India (LIC). They offer different plans for people of all ages.
Many people in the country choose LIC because it’s considered a safe way to invest money, and you can also get good returns.
One popular plan they have is called LIC Jeevan Umang, which allows you to benefit throughout your life.
When this plan matures, you get many advantages. The special thing is that you can set up an annual income for yourself by saving just Rs 54.
This plan, Jeevan Umang, is a type of life insurance that is safe and allows you to participate. It not only protects your family but also helps you earn money.
The unique part of this plan is that even after you finish paying the premiums, it continues to provide benefits until maturity.
Additionally, the insurance company pays a lump sum amount when the plan matures or in case of death.
Let’s break it down with an example. Imagine you’re 25 years old, and you’ve chosen the Jeevan Umang plan for 30 years with a sum assured of Rs 6 lakh.
You would need to deposit Rs 1568 every month, which adds up to Rs 18,848 in a year. On a daily basis, that’s around Rs 53 that you need to save to invest in this plan.
Now, let’s talk about the survival benefit. After you finish paying the premiums at the age of 55, you would receive Rs 48,000 every year as a survival benefit until the plan matures.
The maturity age for this plan is 100 years, meaning you’ll receive the maturity benefit even at the age of 100. The plan also includes a death benefit.
