Invest as low as Rs 100 in THIS LIC policy and get lakhs of rupees on maturity; Check return calculator, benefits, other details
LIC Jeevan Labh Maturity Calculator: When it comes to investing, people get to choose from a wide range of options. If it comes to long-term investment with a life cover, people often trust India's most valuable life insurance company - Life Insurance Corporation (LIC) of India. LIC has multiple plans to suit the need of individual investors and investment into the plans starts from a very low amount. One of such policy is LIC Jeevan Labh. LIC's Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan which offers a combination of protection and savings. This plan provides financial support for the family in case of the unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.
LIC Jeevan Labh Policy Death Benefit
In case of death during the policy term, provided all due premiums have been paid, Death benefit, defined as the sum of "Sum Assured on Death", vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where "Sum Assured on Death" is defined as the higher of 7 times of annualised premium or Absolute amount assured to be paid on death i.e. Basic Sum Assured. This death benefit shall not be less than 105% of all the premiums paid as on the date of death.
LIC Jeevan Labh Maturity Benefit
"Sum Assured on Maturity" equal to Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be payable in a lump sum on survival to the end of the policy term provided all due premiums have been paid.
LIC Jeevan Labh Policy Participation in Profits
The policy shall participate in the profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force. The final (Additional) Bonus may also be declared under the policy in the year when the policy results in a claim either by death or maturity.
LIC Jeevan Labh Maturity Calculator for Rs 100 Per Day
LIC Jeevan Labh comes with a premium paying term of a minimum of 10 years. If you want to invest Rs 100 per day in LIC Jeevan Labh for 15 years, your total investment amount would be Rs 5,40,000 and you will get around Rs 13,00,000 in the 21st year. You will not have to pay any premium from 16th to 20th year.
LIC Jeevan Labh Maturity Calculator for Rs 200 Per Day
If you choose to invest Rs 200 per day in LIC Jeevan Labh for 15 years, the total investment would be Rs 10,80,000 and the maturity amount in the 21st year would be around Rs 26,30,000. You will not have to pay any premium from 16th to 20th year.
LIC Jeevan Labh Maturity Calculator for Rs 300 Per Day
If an investor opts to invest Rs 300 per day in LIC Jeevan Labh for 16 years, the total investment amount would be Rs 17,28,000 while the maturity amount would be a whopping Rs 65 lakhs in the 25th year. For nine years between 16th and 25th year, you are not required to pay any premium.
LIC Jeevan Labh Maturity Calculator for Rs 500 Per Day
If you invest Rs 500 per day in LIC Jeevan Labh for 15 years, your total investment would be Rs 27,00,000 while you will get around Rs 68,80,000 in the 21st year. You will not have to pay any premium from 16th to 20th year.