Through LIC’s life insurance, people get benefits both during life and after life. In such a situation, today we are going to tell you about an important plan of LIC, which can be started even with less money and good returns can be obtained.

LIC’s New Endowment Plan-

The name of the plan we are talking about here is LIC’s New Endowment Plan (914). Through this plan, people can open LIC for 35 years. The age of the person being covered through this plan should be minimum 8 years and maximum 55 years. Whereas the minimum sum assured for this plan should be Rs 1 lakh.

Keep these in mind-

To earn good returns from any insurance plan of LIC, a person’s age and policy tenure matter a lot. Apart from this, the amount you invest is also very important. In such a situation, whenever you get a policy, you should pay a lot of attention to these three aspects.

Example–

If a person starts investing in this plan at the age of 25, and also has a policy tenure of 35 years and chooses the sum assured of Rs 9 lakh, then the monthly premium of the person for the first year will be Rs 2046. From next year, a person will have to pay a premium of Rs 2002 every month for this policy.

This much fund can be created-

In such a situation, for a sum assured policy of Rs 9 lakh, a person will have to pay a total premium of Rs 8,23,052 for 35 years. In its returns, the person will get Rs 43,87,500 on maturity after 35 years. In such a situation, a person can create a fund of more than Rs 43 lakh by paying a monthly premium of Rs 2,000 for 35 years.

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What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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