LIC Jeevan Anand Or PPF: Which Is A Better Investment Option?
I am very much confused with which one is better LIC Jeevan Anand policy or having a PPF (Public Provident Fund) Account. Also I would like to know, is it advisable to invest in LIC Jeevan Labh? I am looking for Investment with Insurance option. Also I am looking for tax benefit option with not more than 3 years lock-in as well.
LIC New Jeevan Anand vs PPF Account, Since this Insurance agents are quite good in convincing people when it comes to LIC vs PPF schemes but you wont understand the facts unless and until you don’t do enough research by your end. Lets do some comparison between PPF vs LIC Jeevan Anand insurance policy:
|Jeevan Anand Insurance Policy||Public Provident Account|
|Jeevan Anand policy was rename to New Jeevan Anand policy with regards to IRDA rules. Its an endowment policy which covers your life as well. In terms of returns this insurance policy + investment funds doesn't perform well in long run with respect to interest point.||PPF or Public Provident Account is only a long term investment saving scheme. At present 15 years is the maturity period and you can earn interest on your investment at around 8% - 9%. When compared PPF vs LIC scheme, PPF out-stand with its maturity value.|
|The premium paid under this LIC policy is exempted under 80C of Income Tax Act. Likewise Maturity amount is additionally tax exempt under section 10(10D).||Amount invested in PPF account is exempted from tax. Indeed, even the premium earned and maturity is likewise tax exempt.|
|One can surrender, New Jeevan Anand policy after 3 years of premium installment.||The base lock-in period is 7 years. Also, one can't withdraw the whole amount before maturity as well.|
|Life will be secured till the policy maturity. In the event of death, guaranteed sum assured with bonus will be paid to nominee.||PPF does not cover life. If there is an occurrence of death then nominee will get sum assured only after maturity.|
Good information on lic jeevan anand returns and PPF. These terms are very important for all of those who have started to earn and since my job is stable now. I would like to look deeply into it. Thanks for starting the topic here because now it will be possible for me to understand it nicely.