Benefits of LIC Jeevan Labh: How Investing Rs.233 Daily Can Give You Rs.17 lakhs?

LIC has designed a new plan (LIC Jeevan Labh, 936) that gives you Rs.17 lakhs at the time of its maturity. As LIC is one of India's most reputed insurance companies, you can be assured that the benefits of LIC Jeevan Labh are legitimate.

So how can you avail of this scheme and get Rs.17 lakhs on policy maturity? Find all details in this article. 

Benefits of LIC Jeevan Labh: Full Details

LIC allows the policyholder to invest Rs.233 every day to get a corpus of more than Rs.17 lakh on maturity as per the Jeevan Labh policy. 

Being a non-linked plan, it is free from the risks and anxieties of equity markets. This implies that any ups and downs in the shares will not have any effect on your policy status. So, it is safe to say that your money is safe with LIC Jeevan Labh's investment. Moreover, as it is a limited premium policy, the investments are systematically structured so that the money of policy buyers is safe from any potential risks. 

LIC has designed the Jeevan Labh limited premium plan keeping in mind the children's education, marriage, and other important purchases like buying property in the future. Apart from monetary benefits, the plan also offers insurance coverage to the investors, making it a win-win policy. 

The policyholder can also take advantage of tax benefits through the scheme. Furthermore, if the policyholder passes away during the duration of the policy, having paid all the premiums up to death, in this scenario, the policyholder's beneficiary receives the Death Sum Assured, a Simple Reversion Bonus, and the Final Death Bonus as an addition. This means that the beneficiary will receive an additional sum assured.

There are three premium payment terms (PPT) available under LIC's Jeevan Labh Plan. These are of 16, 15, or 10 years respectively. The plan tenure for these PPTs is 25, 21, and 16 years respectively. If a policy buyer decides to invest in the Jeevan Labh policy at the start of his/her career, we would advise going for the longer option, i.e., a 25-year maturity option with a 16-year PPT (Policy Paying Term). 

Since there are no upper investing criteria in this plan, investors are not required to limit their investments. This single feature makes LIC Jeevan Labh policy one of the best options for insurance cum investments. 

Features of This Policy

The top highlights of the policy include:

• The plan is a combination of insurance and investment. 
• The age limit for the plan ranges between 8 years to 59 years.
• The tenure of this policy is between 16 years to 25 years. 
• The insured needs to take a minimum sum assured of Rs.2 lakhs.
• There is no upper cap on the maximum investment. 
• After paying the premiums for 3 years straight, the insured can take a loan on this policy. 
• The premiums are tax-exempted. 

Basic Sum Assured

The policy does not limit the amount of money that can be assured as the minimum. However, the minimum amount assured under the LIC Jeevan Labh policy is two lakh rupees. The sum assured needs to be in multiples of only Rs.10,000.

Final Word

LIC is one of the renowned insurance providers in India and is known to offer attractive and safe returns with other benefits for policy buyers from time to time. The biggest insurance provider lets investors invest their money for longer periods to ensure bigger maturity returns to meet their lifestyle requirements. Benefits of LIC Jeevan Labh are catered towards the well-being of policyholders, as discussed above. 

Ensure you assess your lifestyle requirements and determine if you can invest Rs.233 daily to avoid policy lapses.