New Delhi, LIC is the largest insurance company in the country. LIC has one of the best schemes. Apart from many insurance policies, LIC also has pension plans. One of these is LIC Jeevan Labh. Under this plan, the company gives bonus to the policyholders. The policyholders get bonus money out of whatever earnings LIC earns. In this scheme, if you deposit a premium of Rs 794 every month, then you will get Rs 5.25 lakh together on maturity. Let us know the complete details of this scheme.
Who can invest
This scheme can be taken for a child who is at least 8 years old. And the maximum age limit is 54 years. If a 54-year-old person takes this policy, the maximum policy term will be 21 years. The maximum age limit of the policyholder should be 50 years for the policy term of 25 years. That is, the maturity period of this policy is related to the age of 75 years of the policyholder.
Minimum Rs. 2 lakhs Assured
LIC’s Jeevan Labh policy has a minimum sum assured of Rs 2 lakh. There is no limit on the maximum sum assured in the policy. The policy term will be of three terms, which include 16 years, 21 years and 25 years. For these tenors, you have to pay premium only for 10, 15 and 16 years respectively. But you will get the maturity amount only after the completion of the policy term.
And also get many benefits
You can also get Accidental Death and Disability, Accident Benefit, New Term Assurance and New Critical Illness Rider benefit in this policy. Now let’s talk about love. If you are 30 years old and you buy a sum assured of Rs 2 lakh, then the policy term will be 25 years. In this way, you have to pay a premium of about Rs.800 every month every month. You will pay a total of Rs 1.5 lakh in 25 years.
How much bonus will you get
You will get a bonus of Rs.47 per Rs.1000. Your total bonus amount in 25 years will be 2.35 lakhs. Similarly you will get a bonus of Rs.90000 as final additional bonus. In 2020-21, LIC had issued a final additional bonus of Rs 450 per thousand. Now the total amount you will get is Rs 5.25 lakh. This includes sum assured of Rs 2 lakh, revisionary bonus of Rs 2.35 lakh and final additional bonus of Rs 90000.
Know how much death benefit will be available
If the policyholder dies during the policy term, his/her nominee will be given a sum assured of Rs.2 lakh. Apart from this, the nominee will also get revisionary bonus and additional bonus. The amount of bonus will depend on the number of days for which the premium has been deposited. Another good thing is that you can also take a loan against the policy after paying the premium for 2 consecutive years of the policy. If you want, you can also surrender the policy after 2 years.
