LIC Jeevan Labh Policy: Life Insurance Corporation of India (LIC), the trusted name in insurance and investments, offers a range of plans catering to various financial needs. Among these, the LIC Jeevan Labh policy stands out as a unique blend of protection and savings, ensuring a secure future for individuals of all ages.
One of the key features of the LIC Jeevan Labh policy is its ability to provide both protection and savings, making it a comprehensive option for those looking to secure their family’s financial well-being. This limited premium and non-linked plan is designed to offer financial support to the policyholder’s family in case of unfortunate events while also generating returns over time.
By investing a modest monthly amount of Rs 7,572, policyholders can build a substantial corpus of Rs 54 lakh upon maturity. This flexible plan empowers individuals to tailor the premium amount and policy tenure to suit their financial goals. The policy is available for individuals aged 8 to 59 years, ensuring that people from various life stages can benefit from its features.
For instance, a 25-year-old individual opting for the Jeevan Labh policy would make a monthly investment of Rs 7,572 or Rs 252 per day. Upon maturity, a lump sum amount of Rs 54 lakh can be received. The policy offers a comprehensive life benefit package, including reversionary bonuses on maturity and a final additional bonus.
The versatility of the LIC Jeevan Labh policy is evident in its flexibility regarding age and tenure. Citizens aged 8 to 59 years are eligible to invest, with contribution periods spanning 10, 13, or 16 years. The maturity period for these plans ranges from 16 to 25 years. Even a 59-year-old can opt for a 16-year policy, ensuring coverage up to the age of 75.
In the unfortunate event of the policyholder’s demise during the term, the nominee receives benefits that encompass bonuses and the sum assured. This comprehensive death benefit provides an added layer of security to ensure the well-being of loved ones.
