The specialty of the policy is that 50,000 people have bought it in the last 10-15 days. In just one stroke, the company has sold more than 50 thousand policies.
LIC Jeevan Azad Policy: If you are planning for investment then this news is for you. We are saying this because you can earn a lot of profit by investing in this scheme of LIC. The country’s largest insurance company LIC has launched a new life insurance policy . It is being liked a lot. The specialty of the policy is that 50,000 people have bought it in the last 10-15 days. In just one stroke, the company has sold more than 50 thousand policies. If you have not invested in this scheme of LIC till now, then this is a great opportunity.
Let us tell you, you also get interest on the amount deposited in this and the coverage of life insurance is available separately. The chairman of LIC himself has told the specialty of this insurance policy. By the way, LIC brings unique insurance plans for its customers every time.
But, this time the company has made a splash in the insurance market by bringing a new endowment plan ‘Jeevan Azad’. In this plan, people will also get a chance to save with life insurance. In this scheme of LIC (Plan No. 868), the facility of taking insurance up to Rs. 5 lakh is available. Let us tell you about this scheme in detail.
What is Jeevan Azad policy?
LIC’s Jeevan Azad Plan is a non-participating, individual saving endowment plan. In this, the maturity and death claim received by the policy holder is already defined. You have to pay the premium for 8 years less than maturity. You will have to pay the premium for 8 years less than the number of years you have taken the policy. Suppose you have taken this plan for 15 years, then after subtracting 8 years from 15, you will get 7 means you will have to pay premium for 7 years and if you buy policy for 20 years, you will have to pay premium for 12 years.
The minimum sum assured under this plan is Rs 2 lakh. While the maximum sum insured is Rs 5 lakh. If insurance is done up to Rs 3 lakh, then the insured will not have to undergo any medical test, while for taking a plan above that you will need a medical test.
Who can get insurance?
A person from the age of 90 days to 50 years can buy this insurance policy. Whereas in Jeevan Azad policy, the minimum maturity period is 15 years and the maximum is 20 years.
How to pay premium?
You can pay the premium for this policy on monthly, quarterly, half-yearly and yearly basis. If a person wants, he can also use card, online, check or UPI to pay the premium.
How much return will you get
Suppose, if you start investing Rs 12,083 annually in this policy from the age of 28 and your plan is for 18 years, then you will get a sum assured of Rs 2 lakh on maturity. In this you will get 4-5% interest. In this policy, the basic sum assured or 7 times of the annualized premium is available as a death benefit. It is ensured that the amount to be paid is not less than 105% of the premiums deposited on the date of death.
50,000 in 15 days
According to LIC Chairman MR Kumar, since the launch of the scheme, these 50,000 policies were sold in just 10-15 days. Please tell that it was started in January 2023. Kumar has said that the company is focusing on portfolio mix to provide better facility to its customers.
He told during the press conference that the company has made a profit of Rs 6334 crore in the December quarter, which was Rs 235 crore in the same period last year. The reason for the sharp jump in profit is the transfer of Rs 5670 crore from LIC’s non-participating fund to the shareholders. The company’s net income from premium also increased from Rs 97,620 crore to Rs 1.1 lakh crore.
