LIC Jeevan Labh Maturity Calculator: When it comes to investment, people have got many options. When it comes to choosing a safe option to invest in insurance, most people rely on the Life Insurance Corporation of India (LIC).
LIC has many policies keeping in mind the personal needs of the people. Very little money is needed to invest in them. One such plan of LIC is Jeevan Labh (LIC Jeevan Labh Policy). This is a limited premium paying non-linked, with profit endowment plan. This plan provides financial support to the family in case of unfortunate death of the policyholder at any time before maturity and by creating a substantial corpus to the surviving policyholder.
What is LIC Jeevan Labh Policy?
LIC’s Jeevan Labh plan is to pay premiums for a limited period of time. This is a non-linked plan from the stock market. Means, its money is not invested in the stock market. If the insured dies before the maturity of the plan, then this plan gives money i.e. security to the family. If the insured is alive till the maturity of the policy, then his money is received.
Benefits of LIC Jeevan Labh
If the life assured is alive till the maturity of the plan, he/she is given full Sum Assured along with Reversionary Bonuses and Final Additional Bonus together. The insured can pay the premium for a time period of 10, 13 and 16 years. They will get money on maturity after 16 to 25 years. The minimum age for taking LIC Jeevan Labh policy is 8 years and the maximum age is 59 years. A person aged 59 years will get only insurance with maturity of 16 years. So, that the age of the insured at the time of maturity does not exceed 75 years.
Will get Rs 54.50 lakh on maturity
If you are 25 years old and you buy LIC Jeevan Bima Labh policy for a maturity period of 25 years, you will get Rs 54.50 lakhs on maturity. For this, you will have to pay around 20 lakh rupees in 25 years for basic insurance. That is, you will have to pay a premium of around Rs 92,400 annually. This is around Rs 260 per day. After this you will get Rs 54.50 lakh on maturity.
