LIC Policy: Life Insurance Corporation of India (LIC) offers a variety of policies keeping in mind the needs of the customers. One of these policies is named LIC Jeevan Labh Policy, which is very much liked by the customers.
LIC Policy: Life Insurance Corporation of India (LIC) offers a variety of policies keeping in mind the needs of the customers. One of these policies is named LIC Jeevan Labh Policy, which is very much liked by the customers. This scheme combines insurance coverage with savings. This is the reason why many people are liking it for investment. If you invest just Rs 7,572 every month under LIC Jeevan Labh plan, you will get Rs 54 lakh on maturity. Know here the benefits of this policy, how and when to deposit money for investment and how much fund will be received on maturity.
How to get Rs 54 lakh on maturity
Individuals in the age group of 18 to 59 years can opt for Jeevan Labh policy. For example, a 25-year-old person taking a Jeevan Labh policy for a term of 25 years will have to invest Rs 7,400 per month or Rs 246 per day. This will be an annual payment of Rs 86,954. On maturity, you will get Sum Assured, Reversionary Bonus and Additional Bonus. The rate of bonus can also change and this can affect the money you get on maturity.
You can invest for so many years
One advantage of this plan is that it is not limited to adults, it can be bought for children as well. Individuals in the age group of 8 to 59 years can invest in Jeevan Labh Yojana. The policy can be taken for a period of 10, 13 and 16 years.
Benefits of the policy
LIC’s Jeevan Labh plan investors can decide the amount of their premium as per their choice. If the policyholder survives till maturity, he gets the maturity amount as well as other benefits like sum assured and bonus. In case of unfortunate death of the policyholder, the nominee gets the death benefit along with the bonus.
