Aparticipating non-linked limited premium-paying individual savings plan, LIC Jeevan Labh combines the advantages of savings and protection. In the event of any unfortunate incident, LIC Jeevan Labh not only offers financial assistance to the insured’s family but also to the insured’s life.
Due to its participatory nature, consumers might receive a portion of LIC of India’s profits. As a result, it is the best option for maximising returns, cutting costs, and getting insurance coverage all in one.
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LIC Jeevan Labh Policy: Features
For a little time, customers must pay premiums to benefit from long-term protection.
Policyholders may use this plan’s loan facilities.
The plan gives participants the choice of receiving death and maturity benefits over a period of 5, 10, or 15 years.
If the sum assured is Rs. 5 lakh or above, a premium discount is available.
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LIC Jeevan Labh: Benefits
- Death benefit
- Maturity benefit
- Tax benefit
LIC Jeevan Labh Riders
Five optional riders are available under the LIC Jeevan Labh Policy, and they can be accessed by the policyholder by paying an extra premium.
- Accidental Death and Disability Benefit Rider
- Accidental Benefit Rider
- Term Assurance Rider
- Critical Illness Rider
- Premium Waiver Benefit
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LIC Jeevan Labh: Calculator
The minimum age for taking the policy is 18 years and the maximum is 59. For instance, if a consumer enrols in Jeevan Labh when they are 25 years old, they will need to invest Rs 7,572 per month, or Rs 252 per day, and at maturity, they will receive Rs 54 lakh. You must choose an insurance sum of Rs 20 lakh for Rs 54 lakh. In this scenario, you will be required to pay a yearly premium of Rs 90,867.
