What are 1 Crore Endowment Plans?

LIC 1 Crore Endowment Plan- An Overview

1 Crore Endowment plans offered by the Life Insurance Corporation of India are a one-go solution to free you from all your future financial worries. Be it securing your family’s future after your demise, or fulfilling your expensive dreams, you can achieve everything with a 1 Crore Endowment Plan.

LIC 1 Crore Endowment Plans

Benefits of Buying LIC 1 Crore Endowment Plans

One can avail of several benefits by buying LIC 1 Crore Endowment plans such as:

1. Death Benefits 

   You can ensure that your family will get Rs. 1 Crore if something unfortunate happens. The amount received can be utilized by the family to continue living their family independently.

2. Maturity Benefit

   If the policyholder survives till the policy tenure, he/she will receive a maturity benefit of Rs.1 Crore which can help them to fulfill their financial needs.

3. Loan Facility Available

   Policyholders can look after their emergency financial needs by availing loan facilities, provided at least two full years’ premiums have been paid.

4. Tax Benefits

   Premiums paid against LIC 1 Crore endowment plans are eligible for deductions under Section 80C of the Income Tax Act 1961.

Who Should Buy LIC 1 Crore Endowment Plans?

LIC Endowment plans with benefits of Rs. 1 Crore and above are an ideal way of investing your money and ensuring guaranteed returns. These plans are an ideal option for:

• The individuals who wish to secure their family’s financial needs after their demise

  Being the sole earner of your family, it is your responsibility to ensure that your family has sufficient funds to continue living without compromising their basic needs.

• The individuals who wish to create a huge corpus for their future objectives

  Buying your dream house, going for a world tour or buying any other luxuries requires lots of money. By investing slowly in the LIC 1 Crore Endowment plan, you can ensure that by the end of the policy tenure, you can fulfill your dreams.

• The individuals who wish to provide better education opportunities to their kids

  With increasing education facilities, providing quality education to your kids can put a burden on your pocket. Thus, with 1 Crore Endowment plans by LIC, you’ll be prepared to provide the best education to your children.

• The individuals who wish to secure their post-retirement life

  Post-retirement life can become a challenge if you don't have a proper plan for it. Ensuring that you have enough funds to enjoy your post-retirement life can help you live happily and relaxed.

To Conclude

Buying LIC 1 Crore Endowment Plans is an effective way of securing your and the future of your loved ones. By investing steadily with affordable premiums, you will get guaranteed benefits of Rs. 1 Crore and above.