LIC Jeevan Labh plan : If you are going to invest in LIC’s plans then you can get better returns with good interest rates by saving Rs.256 daily.
Because Life Insurance Corporation of India (LIC) keeps coming up with various types of investment schemes to meet the needs of the people of every section of the country. You can invest in LIC’s (Policy No-936) Jeevan Labh plan. This scheme includes many benefits of insurance coverage and savings for the customers. In this, customers can avail a substantial amount of Rs 54 lakh with a monthly investment of only Rs 7,960 per month or approximately Rs 265.
LIC Jeevan Labh plan acts as a dependable financial security for the family in the unfortunate event of death of the policyholder. Moreover, if the policyholder survives till the maturity period, a lump sum amount awaits him. This particular plan also gives the investors the flexibility to choose the desired amount and term for the insurance policy.
265 rupees will have to be saved every day
People in the age group of 18 to 59 years can take advantage of LIC Jeevan Labh policy. Suppose a person chooses to get this policy at the age of 25 years with a Sum Assured of Rs.20 Lakhs and a plan term of 25 years. So on maturity, the policy holder will get an amount of Rs 54 lakh. To accomplish this, the customer will have to pay premiums for 16 years, while the maturity period of the policy is 25 years.
Let us say that if the installment of every month is Rs 7,960, which includes GST, that will cut the investment up to Rs 265 every day. Over the course of 25 years, the total premium paid would be approximately Rs.14,67,118, while the maturity amount would end at Rs.54 lakhs, complete with a final additional bonus of Rs.9 lakhs.
This scheme will be useful in the death of the policy holder
LIC Jeevan Labh policy enables the policy holders to choose premium payment terms of 10, 15 or 16 years term. On completion of the policy term after 16, 21 or 25 years, they will get back the deposited amount. In the unfortunate event of the policyholder’s demise during the policy term, the nominee receives the comprehensive benefits of the policy including the Sum Assured and applicable bonuses.
The death benefit in this policy is of vital importance, as it guarantees the return of the sum assured on the death of the policyholder, provided the policy is in force and all premiums are paid in time.
