LIC’s Jeevan Ankur Plan (UIN: 512N267V01) is a discontinued policy of LIC of India. If you want to buy a child plan from LIC of India, please check out the LIC’s NEW CHILDREN’S MONEY BACK PLAN and LIC’s Jeevan Tarun plan. In case you want to know about LIC’s Jeevan Ankur bonus details, Jeevan Ankur surrender value or paid up policy terms then please contact LIC of India.
This is an LIC of India Withdrawn Plan
LIC Jeevan Ankur policy is a child plan which is very popular like many other LIC policies in India. LIC agents are very smart to sell their policies to Indian customers by using their emotional sentiments. But are they really help you in the long run, is lic jeevan ankur policy is one of the best investment plan for your child? There might be no such such policy or investment tool which can give us best result. But if you compare the return and other benefits then you can discover the truth about that. Anyway like all other endowment policies lic jeevan ankur policy is a child benefit Endowment Plan where parents are the insurer and child are the nominee. In case parents die then your kids need not pay the premium till end of the policy. This is not the only feature of this policy, there are many such attracting feature which make this policy beneficial to customers. Let’s discover such feature and also we will see alternatives of LIC Jeevan Ankur policy.
Features of LIC Jeevan Ankur Policy
In case policy holder dies before maturity then nominee will get the sum assured and 10% of that every year till the policy term.
In case nominee (child) dies during policy term then you can nominate another child.
You can add Optional Riders like Critical Illness and Accidental death benefit.
There are other basic features which are similar to other LIc policies. You might check with LIC India official website for further detail.
Lic Jeevan Ankur policy Review as an Invest option
Its good to think about your kids future and plan for financially for the same. But most of the time we don’t understand how can we get maximum benefit for our kid and choose a wrong investment plan. You should always do a research of any financial plan you are planning to invest for a long run. Let’s take an example of LIC Jeevan Ankur policy return for a long run.
Age : 29 year
Sum Assured : 1,00,000
Policy term : 25 years
Payment term : 25 years
Yearly Premium : 3,244.00
Half yearly : 1,638.00
Quarterly : 827.00
Single : 37,065.00
So if you have chosen yearly premium then you have to pay = 3,244.00 x 25 = 81,100
For Half yearly premium total amount you have to pay = 1,638.00 x 25 x 2 = 81,900
For Quarterly premium total amount you have to pay = 827.00 x 25 x 4 = 82,700
So you can see that in the 25 years of tenure you might pay the entire sum assured amunt to LIC and then get just a small interest (may be 2-3% max). In case you choose the single premium also you will not get enough money back. In case of that if you invest that amount for 25 years in post office or FD or other bonds then you might get an avg return of 8% which will be around 1,74,130 which is more that this.
But yes if you die in first few year of the policy then its a huge benefit for your kids. Otherwise from investment point of view you can judge now how Jeevan Ankur can perform for you. You can do your own calculation with the targeted sum you are targeting and try to compare with other investment tool and then proceed. This calculation figures showed here is based on LIC’s calculator to explain further, for accurate figure its always advisable to visit your nearest LIC office or contact your financial adviser.