JavaTechies / Personal Finance

Recently, eligible spends for Leave Travel Concession (LTC) have widened. The government announced a LTC Scheme, whereby salaried individuals can avail exemption when they buy specified goods and services, including new life insurance policies. This exemption can be claimed for deemed LTC fare and is applicable till March 31, 2021. So, when you buy a new life insurance policy, you can now get tax* benefits under the LTC scheme on your life insurance policy. You don't know about - LTC Cash Voucher Scheme : link

Recently, I was researching about the term insurance plan that would fit to my pocket and also i would able to pay it on financial status. As I have some insurance policy of LIC, I believed to go with them for term plan too. then i have found one plan that good for mine. Product Number : 190 Product Name : Amulya Jeevan and as per my requirement, i need 30 lacs insurance for my life ..and need for 20 years . And after researched about this policy with my requirement and years, firstly i found that single premium option is good and looked nice ..but ..think ..more .... think ..more .. i have to pay 77,700 as single premium and i have not bother about premium, i insured with 30 lacs for next 20 years ..and its nice .. also second option for yearly premium, i have to pay 6900/- rs for next 20 years so if you calculated howmuch you would pay after 20 yrs then you have to pay 20*6900 = 138000 So you would think ..instead of paying 138000 for 30 lacs.20 year, you woul...