Jeevan Labh plan is introduced by Life Insurance Corporation of India

Life Insurance Corporation of India (LIC) introduced a limited premium paying, non-linked with profits endowment assurance plan 'Jeevan Labh'

About Jeevan Labh Plan:

Jeevan Labh is a limited premium paying endowment plan which means premium paying shall be less than the policy tenure and policyholder’s nominee will receive the maturity benefit together with any other benefits at the end of the policy term or on the death of the policy holder, whichever is earlier.

Features of Jeevan Labh Plan:

• Minimum Sum Assured: Rs. 2 lakh
• Maximum Sum Assured: No Limit
• Minimum Entry Age: 8 Years
• Maximum Entry Age: 59 years for 16 years Policy term , 54 years for 21 policy term , 50 years for 24 years policy term
• Policy Term: 16 years, 21 years, 25 years
• Maximum Maturity Age: 75 years

In case of Death:

If death of the life assured happens during the policy term, the death benefit “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.

The death benefit would not be less than 105% of the total premiums paid as on date of death.

LIC’s Accidental Death and Disability Benefit Rider (AD&DB) is available as an optional rider by payment of additional premium. LIC’s New Term Assurance Rider is also available at the inception of the policy on payment of additional premium and as per rules.

About LIC:

Present Chariman: S. K Roy

Headquarters: Mumbai

Tagline: Yogakshemam vahamyaha

Founded: 1956