Many policies are being run by LIC, in which investors get the opportunity to invest along with insurance. One such policy is LIC Jeevan Labh. Let us know in detail…
Many plans are offered by LIC, the country’s largest government insurance company. These plans give people the opportunity to invest along with insurance. One such plan is LIC’s Jeevan Labh, in which if invested properly, you can get a huge amount on maturity.
lic jeevan benefits
LIC Jeevan Labh is a non-linked, individual life insurance plan. In this, the insured person also gets a chance to save along with life coverage. The advantage of this plan is that it gives lump sum amount on maturity. At the same time, if the insured person dies during the insurance period, then the sum assured is given to his family members or dependents by LIC.
Death and Maturity Benefits
According to the information given on the website of LIC, the benefit of death benefit is given on the death of the policyholder. This is 7 times the sum assured or the annual premium paid, whichever is higher. The death benefit can never be less than 105 percent of the premiums paid till the death of the policyholder. This also includes an interval bonus and a final additional bonus.
Maturity benefit is also available on this policy. On maturity, along with the Sum Assured, an interval bonus and a final additional bonus are also paid to the policyholder.
How to get 60 lakhs on maturity
If a person buys LIC Jeevan Benefit for 25 years at the age of 25 years. He will have to deposit Rs 296 every day or Rs 8,893 monthly or Rs 1,04,497 annually. After this, on maturity the insured person will get an amount of around Rs 60 lakh. This will include an interval bonus and a final additional bonus.
