LIC Policy: Various investment options are available, but not all guarantee security. Life Insurance Corporation of India (LIC) stands out with its advantageous schemes, suitable for all ages. Among them, the LIC Jeevan Labh policy is noteworthy, combining safety and savings. This plan yields a lump sum amount upon maturity.
With a modest monthly saving of just Rs. 7,572, you can secure a future corpus of Rs. 54 lakh. This limited premium and non-linked plan offer financial support to the family in case of the policyholder's demise. Additionally, surviving until maturity leads to substantial returns. This flexible scheme empowers investors to customize premium amount and duration.
The policy is accessible for individuals aged 8 to 59 years. For instance, if a 25-year-old takes the Jeevan Labh policy, a monthly investment of Rs. 7,572 or Rs. 252 per day is required, totaling Rs. 90,867 annually. After maturity, a sum of Rs. 54 lakh is attainable. LIC's Life Benefit includes Reversionary Bonus and Final Additional Bonus upon maturity.
The LIC Jeevan Labh policy is versatile, allowing citizens aged 8 to 59 to invest. Contributions can be made for 10, 13, or 16 years, with maturity periods ranging from 16 to 25 years. A 59-year-old can opt for a 16-year policy to ensure coverage till 75 years. In the unfortunate event of the policyholder's demise during the term, the nominee receives the benefits, including bonuses and the sum assured. The policy's standout feature is its comprehensive death benefit.
Read more: LIC Dhan Vriddhi Scheme: Eligible policyholders can claim up to Rs 1.5 lakh under 80-C as tax benefit under this policy
