New Delhi: This plan given by the Life Insurance Corporation of India(LIC) is a fantastic option if you want a safe investment plan with good benefits. Customers can choose from a selection of good plans offered by LIC. LIC’s Jeevan Labh programme is the policy we’re discussing. By investing just Rs 233 every month, you can obtain a sum of Rs 17 lakhs with this policy.
Jeevan Labh is a time-bound, limited-premium-paying, non-linked, with-profits endowment plan from LIC. It provides both security and savings. At the time of maturity, the policyholder can receive a lump sum payment. If the policyholder dies unexpectedly, this plan will offer financial help to the family before the policy matures. Also Read: Buying smartphone for elderly parents? Here’s how to make it user friendly
There is no connection between this policy and the stock market. As a result, market rises and falls have no effect on your money. To put it another way, your funds are absolutely safe under this plan.
You can invest in this LIC plan while thinking about your children’s marriages, schooling, and future home purchases. The scheme also includes life insurance coverage in addition to monetary advantages.
- The Jeevan Labh policy from LIC offers both savings and security.
- This policy is available to those between the ages of 8 and 59.
- You have the option of selecting an insurance term ranging from 16 to 25 years.
- The scheme’s minimum sum covered is Rs 2 lakh.
- The maximum amount you can invest is unlimited.
- After paying premiums for three years in a row, policyholders can ask for loans against their investment.
- Tax exemption on premium.
- On the death of the policyholder, the nominee will get the Sum Assured and Bonus benefits.
The policyholder’s nominee will receive the Additional Sum Insured, which includes the Death Sum Assured, Simple Reversionary Bonus, and Final Addition Bonus, as a Death Benefit if the policyholder dies within the policy term and has paid all premiums up to the point of death.