Life Insurance Corporation of India (LIC) has introduced a remarkable policy called LIC Jeevan Labh, which has garnered immense popularity among customers due to its unique combination of insurance coverage and savings.
By investing a mere Rs 7,572 per month or Rs 246 daily, policyholders can expect to receive a staggering 52 lakhs on maturity.
Let’s explore the benefits of this policy, payment options, and the maturity amount.
How to Attain 54 Lakhs on Maturity
Individuals between the ages of 18 and 59 can opt for the Jeevan Labh policy. For instance, a 25-year-old person opting for a 25-year term will need to invest Rs 7,400 per month or Rs 246 per day, resulting in an annual payment of Rs 86,954.
Upon maturity, policyholders will receive the Sum Assured, Reversionary Bonus, and Additional Bonus.
It is important to note that the bonus rate may vary, potentially impacting the maturity amount.
Investment Duration Options
An advantageous aspect of this plan is its flexibility to be purchased for both adults and children.
Individuals aged 8 to 59 can invest in the Jeevan Labh Yojana. The policy can be taken for periods of 10, 13, and 16 years.
Benefits of the Policy
Investors in LIC’s Jeevan Labh plan have the freedom to choose their premium amount according to their preferences.
If the policyholder survives until maturity, they will receive the maturity amount along with additional benefits such as the sum assured and bonus.
In the unfortunate event of the policyholder’s demise, the nominee will receive the death benefit along with the bonus.
