LIC Jeevan Labh: Insurance along with saving plans, know its features, eligibility and benefits.
Our life is full of uncertainties. In such a situation, it is very important to have an insurance plan for the financial security of the family. This is the reason that there is a lot of curiosity among people about a plan with a higher sum insured with less premium. However, people want to buy insurance from a trusted company for this. In such a situation, the name of the state-owned Life Insurance Corporation of India (LIC) comes first. LIC’s Jeevan Labh is a limited premium non-linked endowment policy.
In this plan, you get the benefits of insurance as well as saving benefits. Under this plan, the family gets financial help in case of unfortunate death of a policyholder before maturity. At the same time, the policyholder gets a lump sum on survival to maturity.
Under this plan, policyholders get loan facility.
The benefits associated with LIC’s Jeevan Labh policy are as follows:
Benefits related to maturity
At the end of the policy term, the surviving policyholder will be provided a bonus lump sum with basic sum insured.
On death at the time of policy
During the term of the policy, all premiums paid at the time of death of the policyholder, even sum insured and other bonuses prescribed for the death status will be given.
Special things related to this policy:
LIC offers three different types of policy / premium paying terms. These include a policy term of 16 years and a term of 10 years for payment of premium, a policy term of 21 years and a term of 15 years for payment of premium and a policy term of 25 years and a term of 16 years for payment of premium. .
If a subscriber chooses a policy term of 21 years, then his age should be less than 54 years while taking the policy. At the same time, the age limit for a policy term of 25 years is 50 years.
At the same time, anyone from eight to 59 years can take this plan for a policy term of 16 years.
Any person can take this policy for a sum assured of a minimum of two lakh rupees. At the same time, the maximum sum insured has not been fixed.
Policyholders may take some riders as per their convenience.
LIC’s Accidental Death and Disability Rider
LIC’s New Term Insurance Rider
Meanwhile, it is to be noted that Life Insurance Corporation of India has launched a special campaign to revive the eligible policies which have been lapsed.