LIC Endowment Policy
LIC's endowment policy is designed to offer the investor with an amalgamation of protection and saving within one go. It not only offers financial cover for the family of policy holder during the policy tenure, but also promises a specific amount at the time of maturity. It also provides you with a bonus after a certain period, which may be every year too. And, in case the person, who holds the policy, dies during the policy period, his or her nominee (s) gets the full amount of the respective policy without any hassle. Being a policy holder, you can buy the endowment policy for 12 to 35 years. The policy can be bought by anyone, aged between eight to fifty five years, which can be carried on till seventy five years of age.
If we talk about LIC endowment policy returns, there is no qualm to say that they are not only secured, but also have an upper hand than other private players offering the similar product (s) in the market. People looking to calculate their policy's premium amount, can make use of LIC's official website www.licindia.in, which has a component namely LIC endowment policy premium calculator. This tool requires you to input your age, type of policy/duration, and displays the premium amount within no time.
Last, but not the least; each one of us spends our hard earned money on the consultation fees of charted accountants to save our taxes. But here is good news! LIC endowment policy returns are tax free under section 10(10)D, which can indeed bring ease to your tax savings every year.
LIC Recently Launched Three Endowment Plans