26 lakhs will be received for depositing 150 rupees daily
Every parent wants their children to have good education and the future can be secured. But many times financial problems stop the dreams of children. In such a situation, the "Jeevan Tarun Policy" of the Life Insurance Corporation of India (LIC) is a great way to secure the better future of children.
This policy has been prepared especially keeping in mind the needs of education and puberty of children. In this scheme, you can prepare a fund of 26 lakh rupees from only 150 rupees per day. Let's know how…
LIC Jeevan Tarun is an insurance plan that gives financial support for children's education and future plans. This is a limited premium payment plan, in which both savings and security are benefited. Under this scheme, the policy holder invests for a certain period of time till the completion of 25 years of his child and receives a large amount in return.
If you deposit only 150 rupees daily in this policy, then a total investment of Rs 4,500 in a month is made. This amount is 54,000 rupees throughout the year. Now suppose, you started this policy at the age of 1 year of child and continued for 25 years. So at the end of the policy you can get a maturity amount of up to 26 lakh rupees. It consists of sum assord, annual bonus and final additional bonuses.
To take advantage of this plan, the age of the child should be at least 90 days and maximum 12 years. If the child is above 12 years, then this plan cannot be taken for him. The total period of the policy is fixed according to the age of the child. That is, the current age of the child out of 25 is reduced.
One specialty of this policy is that if you want, you can withdraw money in between. When the child turns 20 years old, from the age of 24, every year some amount is received as money back. After this, in the 25th year, you get a maturity amount together, which includes the remaining sum assured and all bonuses.
On investing in this policy, you can get tax exemption under Section 80C of Income Tax. At the same time, when the policy is matured or a death benefit is available in an accident, then the amount is completely tax free, because it comes under section 10 (10D).
