Life Insurance Corporation of India (LIC) had launched a new policy named Jeevan Azad earlier this year. The objective of this policy is to provide both protection and savings to the customers. Benefits are available in case of death or survival of the policyholder. Know the eligibility and benefits of this scheme. Read what is the complete news.
The country’s largest insurance company, Life Insurance Corporation of India (LIC), launched a new scheme, LIC Jeevan Azad, in January this year. ) was launched in the name of.
This policy has been designed in such a way that it can provide the benefit of both protection and savings to the customer. In this policy, if the policyholder dies, then this policy of LIC will provide death benefit to the nominee and if the policyholder survives till the end of this policy, LIC will give him maturity benefit.
What is the benefit of this policy?
Death benefit
If the policyholder dies due to any reason, then according to this policy the sum insured will be paid to the nominee. Insured on DeathAmount is the higher of Basic Sum Assured or 7 times the Annualized Premium.
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Maturity benefit
According to this plan, if the policyholder survives till the end of the policy, the insurance company will pay the ‘Sum Assured on Maturity’ to the policy holder. Will pay.
Tax benefit
You can also avail tax benefits on the premium paid by you in this policy. Under Section 80Cof Income Tax, you can claim tax exemption on premium. Apart from this, the amount received on maturity or death can also be availed of as exemption under Section 10D(D) of Income Tax.
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What is the eligibility?
- To invest in this policy, your minimum age is 90 days and maximum age is 50 years.
- The maturity of the policy is minimum 18 years and maximum 70 years.
- The minimum basic sum assured for LIC Jeevan Azad is Rs 2 lakh while the maximum is Rs 5 lakh.
