Under this scheme, if one wants to take a loan, then the premium has to be paid for 3 years. Only after this loan can be given under this scheme. Another advantage of this scheme is that it is exempted from tax deduction.
If you are also planning to invest, then there are many such schemes in Life Insurance Corporation of India, in which you can get good maturity by investing. You can choose the LIC Jeevan Labh plan from the good plans offered by LIC. By investing just Rs 233 in this scheme every month, you can get an amount of Rs 17 lakh. This is also a non-linked scheme 936. For the unversed, a non-linked plan does not depend on mutual funds and stocks. That is why it is considered a safe scheme.
LIC Jeevan Labh Plan
This LIC scheme gives you more maturity with less investment. Also, investing in this scheme is considered safe. The plan provides financial support for the family in case of unfortunate death of the policyholder at any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. In this scheme, you are also given a loan. This plan also pays you a lump sum amount on accident and disability.
Benefits of Jeevan Labh Plan
- LIC’s Jeevan Labh policy offers both savings and protection.
- This policy is available for people between the age group of 8 to 59 years.
- You have the option to choose the term of insurance from 16 to 25 years.
- The minimum cover amount of the scheme is Rs 2 lakh.
- The maximum amount you can invest is unlimited.
- After paying premiums for three consecutive years, policyholders can seek loan against their investments.
- On the death of the policyholder, the nominee will get the sum assured and bonus benefits.
- The nominee of the policyholder will receive additional Sum Assured which includes Death Sum Assured, Simple Reversionary Bonus and Final Additional Bonus.
Apart from this, if one wants to take a loan under this scheme, then premium has to be paid for 3 years. Only after this loan can be given under this scheme. Another advantage of this scheme is that it is exempted from tax deduction.
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