New Delhi: Life Insurance Corporation of India (LIC) sells various policies offering safe, impressive returns along with tons of other benefits. The state-owned insurer allows investors to invest their money for the long term so, at the time of maturity, they get a decent amount of money to secure their future. One such scheme known as the LIC Jeevan Labh policy is now gaining more traction.
Under the LIC Jeevan Labh policy, the insurer lets investors invest Rs Rs 233 daily to receive a corpus of about Rs 17 lakh on maturity. The policy is actually called LIC Jeevan Labh, 936.
The scheme is also non-linked, which means that market trends won’t impact the returns of the investors. Investments are invested in very safe instruments so that the money of the investors remains completely safe.
The Limited Premium Plan is being offered by the LIC keeping in mind the marriage of children, education and future purchase of the property. Besides monetary gains, the scheme also offers life insurance cover.
The minimum sum insured in the scheme is Rs 2 lakh. Anyone in the age between 8 to 59 years can start investing in the policy. The policy term can be taken from 16 to 25 years.
Moreover, one of the best parts about the scheme is that investors don’t need to limit their investments in the scheme, as there is no upper limit on the amount one can invest in the LIC Jeevan Labh policy. Also Read: Aadhaar Card Update: Aadhaar not a valid proof of age – High Court
Investors can also apply for loans against their investment after paying premiums for three years straight. Policyholders can also avail tax benefits under the scheme while the nominee gets to benefit from the sum assured and bonus in case of the death of the investor. Also Read: Ford, Walmart and Argo AI team up to launch autonomous vehicle delivery service