LIC Jeevan Labh Policy: Invest Rs 233 every month to get Rs 17 lakh on maturity; Check benefit details

If you are looking for a safe investment plan with good benefits then you should check out this plan offered by Life Insurance Corporation of India (LIC). LIC offers a variety of excellent plans to its customers. The policy we are talking about is LIc’s Jeevan Labh scheme. With this policy, you can get an amount of Rs 17 lakhs by investing just Rs 233 every month.

What is LIC Jeevan Labh Scheme and its benefits?

LIC’s Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan with a time limit. It offers both protection and savings. The policy holder can get a lump sum amount at the time of maturity. In case the policy holder had an unfortunate death then this plan will provide financial support for the family any time before maturity.

This policy has no link with the stock market. So, the rises or fall of market does not have any impact on your money. In other words, your money is completely secure in this scheme.

You can invest in this plan of 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.

Benefits of the LIC Jeevan Labh Policy:

1. LIC’s Jeevan Labh policy gives a combination of savings and protection.
2. People between the age group of 8 to 59 years can invest in this policy.
3. You can choose policy term between 16 to 25 years.
4. The minimum sum insured in the scheme is Rs 2 lakh.
5. There is no limit on the maximum amount you can invest.
6. Policy holder can also apply for loans against their investment after paying premiums for three years straight.
7. Tax exemption on premium.
8. Nominee will get benefits of Sum Assured and Bonus on the death of the policy holder.

If the policyholder dies during the policy term and has paid all premiums up to the point of death, the policy holders nominee will receive the Additional Sum Insured including Death Sum Assured, Simple Reversionary Bonus, and Final Addition Bonus as a Death Benefit.