Life Insurance Corporation (LIC) News
When it comes to investing, the Life Insurance Corporation of India (LIC) is one of the most trusted investment avenues. LIC is one of the preferred options because it mostly provides assured returns and many of its plan help in tax savings as well. The wide range of plans and policy gives investors multiple options to choose from for investment.
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.
To be eligible for this scheme, the employee needs to fall in the age group of 18 and 75 years and in case of maturity age, it should be 85 years. In terms of contribution, a minimum of Rs 10,000 is required at the time of inception of this policy and then a contribution of Rs 1,200 is mandatory every year for the members. Also, the minimum group size for the new employer-employee scheme should be 10.