LIC Jeevan Utsav Policy: If you are worried about earning after retirement from job, then Life Insurance Corporation of India can be a better option. Insurance company Life Insurance Corporation of India has launched Jeevan Utsav Policy. Under this policy, you will have to invest Rs 10,000 every month.
LIC Jeevan Utsav Policy: Many types of policies are being run by the country’s largest insurance company Life Insurance Corporation of India (LIC). The company launches policies according to the needs of different classes. Similarly, the company has introduced Jeevan Utsav. This is a traditional plan, not linked to the market. That is, it will give guaranteed returns. This is such a scheme. In which after retiring from the job, you will get a pension of Rs 15,000 every month.
You can deposit money in LIC’s Jeevan Utsav scheme from 5 years to 16 years. This policy of LIC matures at the time of your retirement. How much return will be received in this plan will depend only on how long you have invested in the plan. Under this scheme, investors will get a sum assured of at least Rs 5 lakh. People from the age of 8 years to 65 years can invest in LIC Jeevan Utsav Plan.
Getting the benefit of term insurance
By investing in LIC Jeevan Utsav Plan, customers get the benefit of both term and life insurance. Hence, like term insurance, in this scheme you are getting the benefit of coverage not only for a fixed period but for the whole life. For this reason, it is a lifetime return guarantee scheme.
Interest rate in Jeev Utsav policy
After the cover starts, policy holders get two options. In which one option has to be chosen. The first option is regular income benefit and the second option is flexi income benefit. In this, investors will be given annual interest at the rate of 5.5%. This interest will be given on delayed and cumulative flexi income benefit. If the policy holder dies before the maturity of the policy, then in such a case, 105% of the total premium deposited till that time is given to the nominee as bonus.
