LIC Jeevan Labh: Life Insurance Corporation of India (LIC) offers a variety of plans and policies designed to cater to customers of all age groups.
Among these options, LIC Jeevan Labh Plan (Table-936) stands out as a notable choice that combines insurance coverage and savings benefits.
By investing a monthly amount of just Rs 7,960 (approximately Rs 265 per day), individuals can secure a substantial sum of Rs 54 lakh.
The LIC Jeevan Labh plan provides reliable financial security for the policyholder’s family in the unfortunate event of their demise.
Additionally, if the policyholder survives until the maturity period, they will receive a lump sum amount.
This plan also offers investors the flexibility to select the desired coverage amount and policy duration.
For example, let’s consider an individual who opts for this policy at the age of 25 with a Sum Assured of Rs 20 Lakhs and a plan term of 25 (16) years.
In this case, the maturity amount would be an impressive Rs 54 lakh.
To achieve this, the insured person needs to pay premiums for 16 years, while the policy has a total duration of 25 years.
Consequently, the monthly premium amount is Rs 7,960, including GST, which translates to a daily investment of Rs 265.
Over the span of 25 years, the total premiums paid would amount to approximately Rs 14,67,118, while the maturity amount would reach Rs 54 lakh.
Additionally, the policy includes a final additional bonus of Rs 9 lakh.
