Which Policy Gives Maximum Returns?
Which Policy Gives Maximum Returns?
Which Policy Gives Maximum Returns? There are several types of insurance policies, and one of the most important questions to ask yourself when choosing one is Which Policy Gives Maximum Returns? LIC offers several types of plans, but there are four main ones that stand out. LIC’s New Endowment Plan and its Limited Premium Endowment Plan offer exceptional returns. Each plan combines insurance with investment funds, making it a great way to diversify your investments.
Jeevan Umang
Jeevan Umang plan is a combination of a money back and whole life endowment plan. You will get a guaranteed 8 percent return after the premium paying period. If you die before reaching the age of 100, the policy will pay out a lump sum. LIC Jeevan Umang plan offers a loan facility of up to 90% of the surrender value. The Jeevan Umang plan also offers the option of a limited payment period. It also offers maturity benefit that is higher than most other endowment plans.
You can also purchase Jeevan Umang plan if you are a NRI. This plan is available for three-year premiums. Premiums are 2.25% per year. The benefits are calculated as per the bonus rate on 4 November 2020. The policy has no surrender value limit, and you can withdraw it anytime. In addition, LIC Jeevan Umang plan also provides a lump sum amount upon death.
You can opt for Jeevan Umang plan as a child or an individual
above 55 years of age. The maximum sum assured is Rs 2 lakh and the premium payments can be made for up to 30 years. You will also be getting the benefits of disability and term rider benefits. The premium payment period can be fifteen, twenty, or thirty years. You will receive regular bonus payouts throughout the term of the policy. In addition, you will also get a bonus when you reach the age of 100 years.
LIC Jeevan Umang for NRIs also offers a loan facility of up to 90% of the surrender value. If the policyholder dies during the premium paying term, the policy pays a lump sum amount to your nominee. If you’re young and healthy, you can add the accidental rider to your Jeevan Umang plan to ensure a decent amount of financial support for your dependent.
Jeevan Umang is a good choice if you are looking for a policy with an 8% return. Its death benefit will pay out your nominee. You can also add optional riders to the plan to make it more beneficial. And the premium is a reasonable Rs 7,879 a year. Moreover, you’ll get a survival benefit from the 26th policy year and maturity benefit of Rs 18.9 lakh.
Jeevan Labh
If you are looking for a life insurance policy that offers the best returns, look no further than the LIC Jeevan Labh policy. This endowment plan offers both protection and savings, and gives your family a lump sum at maturity. It also offers a number of other features, including riders. Let’s take a look at some of these features. For starters, it offers a high level of diversification, which is great for a investor.
Another great benefit of LIC’s Jeevan Labh plan is that you only have to pay a limited premium with the plan. The bonus will reduce with age, and you will only get the maximum benefit illustration at the end of the term. Unlike many other endowment plans, the Jeevan Labh plan will not offer a guaranteed bonus based on the amount of premiums you pay. However, the bonus will still be higher than the benefit illustration of regular premium endowment policies.
Another benefit of the LIC Jeevan Labh policy is the option to surrender at any time.
Although this option can be risky for investors, you can still receive some money if you surrender your policy after paying premiums for three consecutive years. You will receive a Guaranteed Surrender Value amount, which equals the sum insured minus any charges and expenses. And unlike other types of policies, you can cancel your Jeevan Labh policy at any time during the first 15 days of premium payment. In addition, you will receive the sum assured, any Accrued Bonuses, and any FAB added to the sum assured.
What benefits are included with LIC Jeevan Labh? This is a non-linked endowment plan that offers savings and protection for an extended period of time. This plan provides maturity benefits and a profit participation bonus, and is available to individuals aged eight to 59 years. Its flexibility makes it an ideal option for people who need both protection and savings in an endowment plan. Its limited premium payment plan allows you to save money efficiently and provides financial support for your family if something unexpected happens.
Limited Premium Endowment Plan
Limit Premium Endowment Plan is a popular investment option because it provides maximum returns while still allowing the investor to save tax. This plan is suitable for salaried individuals, businessmen, and professionals. This plan is best for risk-averse individuals who want to enjoy maximum returns while investing. They help build a corpus for an important milestone like marriage, education, or retirement. In addition, most insurers offer various riders as inbuilt coverage. You can opt for an endowment plan that offers double coverage or an education endowment plan.
The LIC Limited Premium Endowment Plan is a non-linked plan that offers protection and savings to policyholders. The plan offers a lump sum at maturity to the surviving family members. LIC Limited Premium Endowment Plan also offers a loan facility to policyholders, which can be up to 80% of the policy’s paid-up value. However, this plan has a short premium-paying period.Which Policy Gives Maximum Returns?
Another type of endowment plan is a profit-linked policy.
In this type of plan, the insurance company guarantees a specified amount to the policyholder, and pays it out upon maturity or the death of the policyholder. Profit-linked endowments often include a bonus. In addition to the guaranteed sum, endowment plans are also attractive because they provide added benefits over time. For example, the policyholder will receive a death benefit upon the death of the policyholder.
A unit-linked endowment plan, on the other hand, splits premium into two parts. The first part of the premium is invested in life insurance, and the other part goes toward purchasing investment funds. The endowment fund’s NAV will determine the return, but it is not as predictable as an ULIP. Its benefits outweigh its drawbacks. It’s a safe bet for those who don’t want to risk their money.
In addition to earning returns, an endowment plan is also tax-saving, so it’s a safe investment option. The maturity sum of the policy is guaranteed, and is the amount your family receives when you die. Moreover, the endowment plan helps in building the habit of saving, as you will have to pay regular premiums. Your investments will earn a fixed rate of interest, and at maturity, you’ll have a fixed sum to use for long-term goals.
Jeevan Nidhi
If you are looking for an insurance plan that will provide maximum returns, then you should invest in a Jeevan Nidhi policy. This type of policy will pay guaranteed additions for the first five years of the policy’s life. These additions are tax deductible, but the amount of the maturity benefit is not. In fact, most financial planners do not recommend this type of policy, because of its limited return generating capabilities.
A Jeevan Nidhi policy gives you the chance to accumulate your corpus through both deferred and immediate annuity. The deferment option allows you to withdraw up to three-fourths of the corpus tax-fr..ee, which is the best option for most people. With a Jeevan Nidhi policy, you can withdraw up to three-fourths of your corpus tax-fr..ee, which will significantly reduce your tax burden.
In addition to the guaranteed 8% returns, the Jeevan Umang plan also provides entire-life protection. Its payouts begin after the premium payment term has ended, and are based on the prevailing bonus rate on 4th November, 2020. If you do not use your Jeevan Nidhi policy, you may surrender it at any time and receive the surrender value of your money.Which Policy Gives Maximum Returns?