LIC Savings Scheme: People often look for various options to invest their money in the right place. In today’s time, many types of savings schemes are being run for investment, but it is not necessary that all of them have security guarantee. Life Insurance Corporation of India i.e. LIC also runs many beneficial schemes for its customers and these policies are available for people of all ages.
One of these is LIC Jeevan Labh policy. This scheme provides the benefits of both safety and savings. After investing your money in this, you get a lump sum amount at the time of maturity. Know what is this scheme and its specialty?
What is Jeevan Labh Policy?
This plan of LIC is an endowment policy and is called non-linked, individual, savings plan life insurance. Under this, if the policy holder dies, his family gets a benefit of at least 105% of the sum assured. The time to invest in this has been kept for 16 years, 21 years and 25 years.
How can one get lakhs of rupees?
The minimum age to take this scheme is 18 years and maximum age is 59 years. For example, if a person is 25 years old and takes this Jeevan Labh policy, then he will have to invest Rs 7,572 every month or Rs 252 every day. That means Rs 90,867 will have to be deposited every year.
In this way the policy holder will deposit approximately Rs 20 lakh and after completion of maturity he will get Rs 54 lakh. If money is invested in this scheme of LIC, then the benefit of reversionary bonus and final additional bonus on maturity is also given.
Features of Jeevan Labh Policy-
Under this, insurance holders can deposit money for 10, 13 and 16 years, to whom the money will be given on maturity of 16 to 25 years. Citizens of 59 years can choose an insurance policy for 16 years, so that their age does not exceed 75 years.
What is the plus point of this scheme?
Additionally, if the policyholder dies due to any reason during the term of the plan, the nominee gets the benefit. The nominee also gets the benefit of sum assured along with bonus from the insurance company. Death benefit is considered to be its biggest plus point.
Right to invest-
If a person invests at the age of 59, he has the right to invest only for 16 years. If we talk about payment of premium, it can be done every month, three months, 6 months or annually. Its maturity limit is up to 75 years.
