LIC JEEVAN LABH
Your Lifelong Shield of Financial Security
LIC JEEVAN LABH
LIC’s Jeevan Labh stands out as the best plan in terms of returns, offering a winning combination of protection and savings. This non-market linked, with-profit plan is expertly designed to deliver substantial growth in your investments over time.
One of its standout features is the extended life cover it provides, all while keeping the premium paying term shorter than the policy term. For example, with a 16-year policy term, you only need to pay premiums for 10 years. This exceptional plan ensures that your returns are maximized.
Benefits of LIC Jeevan Labh
1. Maturity Benefits: Jeevan Labh offers financial protection and life cover. Upon maturity, you receive a payout consisting of the Sum Assured, Simple Reversionary Bonus, and Final Addition Bonus.
2. Death Benefits: In the unfortunate event of the policyholder’s demise during the term, the nominee receives a comprehensive payout, which includes the Sum Assured, Simple Reversionary Bonus, and Final Addition Bonus.
3. Income Tax Benefits: Your premiums are eligible for deduction under Section 80C of the Income Tax Act 1961. Additionally, the death benefits are exempt from tax under Section 10(10D) of the same act.
4. Coverage of All Types of Deaths: Whether natural or accidental, Jeevan Labh provides coverage for both types of deaths.
5. Optional Riders: You can enhance your coverage by adding the Accidental Death and Disability Benefit Rider and the New Term Assurance Rider for an additional premium.
Policy Details at a Glance:
- Sum Assured: Rs 2,00,000 to No limit
- Policy Term: 16 Years, 21 Years, 25 Years
- Entry Age: Minimum 8 Years
- Maturity Age: Up to 75 Years
- Surrender Value: The policy acquires a surrender value after at least three premiums are paid.
Loan Facility: You can avail a loan against the policy after paying at least three premiums.
Premium Payment Modes: Monthly, Quarterly, Half-Yearly, Yearly
