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LIC Jeevan Labh Policy: Deposit only Rs 8 in the scheme, you will get 17 lakhs on maturity, know here

Deposit only 8 rupees in LIC Jeevan Labh Policy scheme, you will get 17 lakhs on maturity, know here : LIC (Life Insurance Corporation) often brings special plans for the protection of its customers. In LIC Jeevan Labh Policy, you can create a corpus of Rs 17 lakh by investing Rs 8,233 per day. That means you can become a millionaire in a few years.

LIC (Life Insurance Corporation) prepares plans keeping in mind each category. Let us tell you, the name of this plan is Life Benefit (936). This is a non-linked policy. Therefore, this plan (LIC Jeevan Labh Policy) has nothing to do with the stock market. This is a limited premium plan. The company has made this plan for marriage of children, education and purchase of property.

LIC Jeevan Labh Policy Features

LIC’s Jeevan Labh Policy (LIC Jeevan Labh Policy) provides both benefits and protection. People in the age group of 8 to 59 years can take this policy. The policy term can be taken from 16 to 25 years. In this policy (LIC Policy), a minimum sum assured of Rs 2 lakh can be taken. There is no maximum limit. Loan facility is also available to pay premium for 3 years. The nominee gets the benefit of tax deduction on the premium and sum assured and bonus on the death of the policyholder.

LIC Jeevan Labh Policy: If the policyholder dies

If the policyholder dies during the policy term and all premiums have been paid till death, payment in the form of Death Benefit, Simple Reversionary Bonuses and Final Additional Bonus (if any) to his nominee Will be done. This means that the nominee will receive an additional sum assured.

How to get 17 lakhs?

Let us tell you that if a person chooses a term plan of 16 years and 10 lakh sum assured at the age of 23, then he will have to pay Rs 233 per month i.e. around Rs 8 daily for 10 years. Thus he has to pay a total of Rs.855107. This amount will be paid on maturity i.e. at the age of 39 years, which will be Rs.17,13,000.

Note: If you want to invest in the policy (LIC Jeevan Labh Policy), then you can get information related to the plan by visiting your nearest LIC (Life Insurance Corporation).

LIC Jeevan Labh – 936 – Important Points to Remember

LIC Jeevan Labh Scheme is an endowment type plan, where the maturity amount is given as a lump sum amount after the completion of the term. The maturity amount of life benefit comprises of Sum Assured, Vested Bonus and Final Additional Bonus (if any). In general insurance coverage policy will be the sum of ‘Basic Sum Assured’, plus ‘Bonus Accrued’. Loan facility will be available on completion of three years and on payment of premium for three full years.

Death benefit:

In case of death during the policy term, provided all due premiums have been paid, the Death Benefit, defined as “Sum Assured on Death”, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Wherein, “Sum Assured on Death” is defined as 10 times of the annualized premium or the entire amount payable on death i.e. Basic Sum Assured. This death benefit shall not be less than 105% of all premiums paid on the date of death. The premium mentioned above will be exclusive of any taxes, additional amount chargeable under the policy on account of underwriting decision and rider premium, if any.

LIC Jeevan Labh 936 – Premium and Benefit Calculator

Jeevan Labh (LIC Jeevan Labh Policy) Premium and Benefit Calculator is a powerful online calculator to provide a complete idea on premium, maturity and insurance coverage benefits in a simple and user friendly manner. Riders like Critical Illness Benefit Rider (CIR), and Accident and Disability Benefit (DAB) are included in this calculator.



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