LIC policy has been a better option for investment since the beginning. If you are thinking of investing, then we are going to tell you about such a policy. In which you will get 63 lakh rupees and investment will have to be only 1302 rupees. The name of this plan of LIC is Jeevan Umang. It can take a person from three months of age to 55 years old. The specialty of Jeevan Umang policy is that if the entire installment is paid by the end of the premium, the insured gets the minimum amount with the guarantee. If you invest 1302 rupees in a month in this life expectation policy, then the annual investment will be 15 thousand 624 rupees. Multiplying Rs 15,624 by 30, the total investment would be Rs 4,68,720. Accordingly, on the return of 100 years of age, it will be 28 lakh rupees. This policy provides cover for 100 years. In such a situation, if the person taking the policy becomes 101 years, then he will get 62.95 lakh rupees.
Feature of Jeevan Umang Policy
– This policy provides cover up to the age of 100 years.
– Upon death of the policy holder, the money is paid to his family.
– People from three months of age to 55 years of age can invest in it.
– The premium for the life expectancy policy is 15, 20, 25 and 30 years.
– In this policy, a small investment provides money for life.
LIC policy lapses? Know how you can survive it
To encourage people to continue their risk cover in the midst of the COVID-19 crisis, the Life Insurance Corporation of India (LIC) has launched a campaign to revive its customers’ fading policies. The campaign, which will continue till 6 March this year, will help LIC policy holders revive their individual policies under certain conditions. The company also stated in a statement that more than 1,500 of its satellite offices have been authorized to revive such policies for its customers. The company launched a similar campaign in October last year to help its customers revive their personal policies.
RBI bans withdrawal of money from another bank
What are the benefits of LIC campaign
LIC has stated that the special revival drive is a good opportunity for its customers to revive their policies and restore life to ensure financial security for their family. It has said that the campaign will especially help policyholders “who could not pay the premium due to unavoidable circumstances and their policy lapse”. The life insurance company has further stated that under the scheme, policyholders will get a 20 percent late fee concession or Rs 2,000 for revival, while a 25 percent concession for annual premium will be between Rs 1 lakh to Rs 3 lakh. The company said, “It always revives an old policy to reinstate the insurance cover and LIC improves their desire for policyholders to continue their life insurance cover.”
Pure Risk Cover Policy:
If the policyholder stops paying the premium then the net risk cover policies are missed. They can only be revived when the policyholder allows premiums and assured benefits to go away.
Traditional Schemes:
If your traditional plan is bad for more than 2 or 3 years, it can be revived only if your insurance company has started a special operation.
Unit-linked insurance policies:
They can be revived from the date you first paid the premium for the next two years. It is worth mentioning here that the insurer will give you the option to revive the policy if you quit paying the premium after the lock-in period.
