LIC Jeevan Labh Policy: Invest Rs 233 per month, get Rs 17 lakhs in return

New Delhi: Investment in today's time calls for careful financial planning. Where and how to invest is like an uphill battle. Trying to meet the people's investment expectations, LIC  offers a scheme. Life  Insurance of India keeps on offering great schemes from time to time for its customers. The insurance company makes plans suitable for every economic class of people.

If you are also in search of such schemes, can take a look at LIC's policy. LIC Jeevan Labh Policy is one such policy in which you can get a hefty fund of 17 lakhs by depositing just Rs 233 every month. Let us know in detail about the policy. (Also Read: LIC launches Dhan Sanchay Saving Plan; check premiums, benefits & more details)

What is LIC Jeevan Labh Policy?

This is a non-linked policy. The policy has nothing to do with the share market. Whether the market goes up or down, it will not affect your money at all. This is a Limited Premium Plan.

Benefits of LIC Jeevan Labh Policy

- LIC's Jeevan Labh Plan gives both profit and protection.

- People in the age group of 8 to 59 years can easily take benefit from the policy.

- The policy term can be taken from 16 to 25 years.

- A minimum sum assured of Rs 2 lakh has to be taken.

- There is no limit on the maximum amount.

- A loan facility is also available on payment of premium for 3 years.

- Tax exemption on premium and on the death of the policyholder, the nominee gets the benefits of Sum Assured and Bonus.

Death benefit

If the policyholder dies during the policy term and has paid all premiums till death, his nominee gets Death Sum Assured, Simple Reversionary Bonus, and Final Addition Bonus as Death Benefit.