The Life Insurance Corporation of India (LIC) has a bunch of investment policies for every consumer group. These investment policies start from as low as ₹500 per month. That means LIC is offering a financial benefit in return for an investment amount of ₹74 per day. This convenient offer is all because of the modifications made to the Endowment Policy by the insurance behemoth.
LIC offering Super Saving Scheme
The revised Endowment Plan from LIC is all about savings as it is the individual life assurance plan with which cannot be linked or participated. “The surviving policyholders receive a large lump sum payment at maturity as well as financial help for the decedent’s family at any point before maturity thanks to this combination”, mentioned DNA India.
LIC Offering Details
- The minimum and maximum age limits to invest in this policy are 8-75 years.
- The policy tenure ranges between 12 and 35 years.
- Annual premium for a 15 years insurance policy is Rs 6,978, Rs 3,930 for 25 years, and Rs 27,54 for 35 years.
Moreover, “If your child is 8 or 9 years old and the monthly investment is not excessive, you can get this coverage in their name. You may purchase the coverage in your name if your child is under the age of eight. This policy term is suitable for customers who want to invest a small sum over a longer period of time, such as monthly or annually”, mentions DNA India.