LIC`s Jeevan Saral life cover @ 250 times of monthly premium cum tax saver
If you want to
1 ) Avoid paying tax.
2 ) Get life cover.
3 ) Accumulate for your retirement.
4 ) Get secured returns, which wont be taxed. ( Govt. backed returns )
5 ) LIC policies can be used as a collateral with banks for loans.
6 ) Creates a saving habit in you. ( While it gives life cover )
7 ) Premium can be paid in yearly / half yearly / quarterly / ECS basis.
Here is the solution with LICs Jeevan Saral.
( Golden Peacock Award winner )
Main features :
1 ) Life cover = 250 times the monthly premium plus premium paid is given
back to nominee. ( eg. Rs. 2000 p.m. prem. = 5 lakhs life cover )
2 ) Tax rebate on premium, also returns are tax free.
3 ) Partial or complete withdrawal possible after 10 years.
* Minimum premium = Rs. 250 per month.
* Minimum premium paying term = 10 years.
* Maximum premium paying term = 35 years.
Invest Rs. 100 per day for 20 years, returns, after 20 years, you will get, Rs. 20 lakhs, life cover of 7.5 lakhs, for 20 years, plus tax rebate on premium paid.