LIC’s Jeevan Labh policy guarantees safety and better returns. In this scheme, the benefit of bonus etc. including death claim is also available.
Beneficial scheme of LIC
LIC’s Jeevan Labh policy is a better option for better returns and keeping money safe. This is a non-linked plan, it is great for those who do not want to invest their money in equity markets due to volatility. In this policy, you can get up to Rs 17.13 lakh by investing Rs 233 daily.
LIC Jeevan Labh scheme offers both death and maturity benefits along with bonus. It offers three premium payment options, which are 10 years, 15 years and 16 years. You can choose it according to you. The minimum sum assured in this LIC policy is Rs 2 lakh.
Benefits of the scheme
1. Loan can also be taken against LIC’s Jeevan Labh policy, although for this it is necessary to complete 3 years by paying premium.
2. In this policy, the policyholder gets Maturity Benefit, Death Benefit, Simple Reversionary Bonus and Final (Additional) Bonus (if any).
3. In this plan, the option of paying premium for three terms will be available.
How to get 17 lakhs
If you want to build a hefty corpus through LIC Jeevan Labh policy, then the sooner you start investing, the better the returns you will get. For example, if you want to get Rs 17 lakh, then you have to take a term plan of 16 years. If you are 23 years old and you are taking this plan for 16 years, then you have to choose a sum assured of Rs 10 lakh. Under this, you will have to deposit Rs 233 daily for 10 years. However, the premium will have to be paid on a monthly or quarterly basis. In this way, your total investment in 10 years will be Rs 8.55 lakh. Instead, you will get around Rs 17.13 on maturity.
Also read: In this policy of LIC, invest Rs 150 daily, you will become a millionaire before the child gets a job