LIC Best Policy: Anyone in the age group of 18 to 59 years can invest in LIC Jeevan Labh policy for premium payment terms of 10, 15 and 16 years.
LIC Best Policy: Life Insurance Corporation of India (LIC) runs many beneficial schemes and policies for its customers of all ages. One of these is LIC Jeevan Labh Plan (Table-936) which offers the benefits of both insurance and savings. You can get Rs 54 lakh with an investment of just Rs 7,960 per month.
LIC Jeevan Labh Plan provides financial assistance to the family in case of death of the policyholder. Along with this, if the policyholder survives till maturity, he will get a lump sum amount. The scheme also provides investors with the right to choose the amount and term for the insurance policy.
Individuals between the age group of 18 to 59 years can avail of this policy. If one opts for LIC Jeevan Labh policy at the age of 25 years for a 25(16) year plan with a total sum assured of Rs 20 lakhs, then the total maturity amount will be Rs 54 lakhs. In this the person will have to pay premium for 16 years and the maturity period of the policy will be 25 years.
How to get 54 lakhs from Rs 7,572?
For example, if a subscriber enters Jeevan Benefit at the age of 25, he/she will have to invest Rs 7,572 per month or Rs 252 per day and will get Rs 54 lakh on maturity. As mentioned above you will have to choose a sum assured of Rs 20 lakhs for Rs 54 lakhs. In this scenario, you would have to pay an annual premium of Rs 90,867.
