There are many such schemes of LIC which are very popular among the people. There is one such scheme, whose name is Jeevan Azad Plan. LIC had brought this policy last year i.e. in January 2023.
Life Insurance Corporation of India (LIC) is the largest insurance company in the country. Along with life insurance, he also has many other investment plans. Apart from this, it brings new schemes for investors from time to time. Due to which its popularity always remains among the people.
People find it safe to invest their money here. There are many such schemes of LIC, which are very popular among the people. There is one such scheme, whose name is Jeevan Azad Plan (LIC Jeevan Azad Plan). When this plan was launched by LIC, it became people’s choice with that launch.
What is Jeevan Azad Plan (LIC Jeevan Azad Plan)
LIC had brought this plan last year i.e. in January 2023. So that people get the benefit of savings along with security. This is a non-linked, non-participating, individual plan. Investment in this scheme will have to be made for a period of 15 to 20 years. The minimum sum assured amount in Jeevan Azad Plan is Rs 2 lakh, whereas LIC has kept the maximum sum assured under this plan at Rs 5 lakh. Whoever has purchased this policy or is the holder of this policy, at the time of maturity, the amount decided by the insurance company at the time of purchasing the policy, will be paid in full to the holder.
According to the LIC document, ‘For those who are 8 years of age or above, the risk will commence from the date of acceptance of risk i.e. the date of issue of the policy.’
According to the document that LIC has released on its website for information about Jeevan Azad Plan, only those who have completed at least 90 days of age and the maximum age is 50 can become the holder of Jeevan Azad Plan. So for maturity, the minimum age of the policy holder should be 18 years and the maximum age limit has been kept at 70 years.
Multiple options for payment
LIC has kept four types of plans for depositing the installment for Jeevan Azad Plan. The first is monthly in which the minimum installment amount is Rs 5000. After this the quarterly minimum installment amount is Rs 15000. Similarly, there are two more plans, half yearly and annual, in which the minimum installment amount is Rs 25000 and Rs 50000.
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