New Delhi: Life Insurance Corporation of India (LIC) offers various investment schemes that provide safe and impressive returns to investors. Several Indians have secured their future with the state-backed insurance company.
In one such scheme, investors can get lakhs of rupees by simply investing just Rs 233 every month in the LIC Jeevan Labh policy, which is a non-linked scheme 936. For those uninitiated, a non-linked scheme doesn’t depend on stock market performance and that’s why it’s considered safe than market-linked schemes.
LIC’s Jeevan Labh Plan feature policy offers profit and security on returns. The minimum age of investment in the Jeevan Labh policy is 8 years while the maximum age is 59 years.
The policy term can be taken for a term of 16 to 25 years. The minimum sum assured in the scheme is Rs 2 lakh. There’s no cap on the maximum limit as far as the minimum sum assured is concerned.
After paying premiums for 3 years, investors can also take loans against their investments. Other benefits of the LIC Jeevan Labh Plan include tax exemption on premiums. Also Read: PFRDA allows investors to invest in Atal Pension Yojana via Aadhaar eKYC
At the time of the death of the policyholder, the nominee gets the benefits of Sum Assured along with a bonus. If the policyholder dies during the policy term and has paid all premiums till death, then his nominee gets Death Sum Assured, Simple Reversionary Bonus and Final Addition Bonus as Death Benefit. That is, the nominee will get an additional sum insured. Also Read: PMC Bank Customers, Alert! You won’t get Rs 5 lakh deposit cover in first lot, here’s why