LIC Jeevan Labh Policy Features: LIC has many policies but today we will tell you about a policy of LIC in which by investing Rs 213 per day you can get a hefty amount of Rs 15 lakh.
LIC Jeevan Labh Policy Features: A small saving of money gives financial strength in the future. Along with saving money, it is also important to invest that amount in the right place. By investing we can get better returns in no time.
To invest, people invest in fixed deposits, mutual funds, or the stock market. On the other hand, many people get better returns by taking an insurance policy and depositing money for a few years.
Life Insurance Corporation of India (LIC) is the most trusted insurance company in the country. Millions of people have invested in different policies of this company. This trust of the people in LIC is because it is a government-run company.
Investing here is not likely to sink money. LIC has a policy, but today we will tell you about a policy of LIC in which by investing Rs 213 per day, you can achieve a hefty amount of Rs 15 lakh. The name of this policy is Life Benefit. This is a non-linked benefit policy with a limited premium payment.
In case of death or maturity of the policy, your family i.e. the nominee or the policyholder also gets the benefit along with security in the form of Sum Assured.
The amount of maturity benefit received in the scheme is completely tax free. In this policy you can choose the policy term with different options of 16 years, 21 years or 25 years. Understand how you will get Rs. 15 lakhs from a daily investment of Rs. 213: –
Death Sum Assured: 900000
Basic Sum Assured: 900000
First year premium with 4.5 per cent tax –
Annual: 79590 (76163 + 3427)
Half Yearly: 40201 (38470 + 1731)
Quarterly: 20303 (19429 + 874)
Monthly: 6767 (6476 + 291)
YLY Mode Average Premium / Daily: 218
With reduced tax after paying first year premium –
Annual: 77877 (76163 + 1714)
Half-yearly: 39336 (38470 + 866)
Quarterly: 19866 (19429 + 437)
Monthly: 6622 (6476 + 146)
YLY Mode Average Premium / Daily: 213
Total estimated premium payable: Rs.780483
Estimated return on maturity:
Total estimated return: Rs.1541700
According to the above example, if a person chooses the 900000 Sum Assured option at the age of 37 with a 16 year term plan, he will have to pay Rs. 213 daily for 10 years. Thus, he will have to pay a total of Rs 780483. This amount will be Rs. 1541700 on maturity.