Often we all look for a good investment to secure our future. In this episode, today we are going to tell you about one such special policy of LIC, in which you will get a better return. The name of this special plan is LIC Navjeevan Policy.
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In this policy, you can either pay the premium as a lump sum or you can also do it as a limited premium with the payment term. There are many such benefits of this premium, which you will get the benefit of in future. It is a non-linked, with-profit settlement life insurance plan. LIC’s Navjeevan plan will also provide financial assistance to the family of an individual in case of unfortunate death before maturity. In this episode, today we are going to talk about the special Navjeevan policy of LIC. Let’s know about this plan –
The duration of Navjeevan Yojana is between 10 to 18 years. If the Life Assured dies before the date of commencement of risk, the premium paid by that person will be returned to his family without interest.
Whereas, if the death of the life insured occurs after the commencement of the risk, then the total sum assured will be paid to the nominee as decided by the individual. On the other hand, if the person dies in the first 5 years, then the Sum Assured on Death + Loyalty Addition will be given to the nominee.
There are many other benefits of this insurance. You can also avail LIC’s Accidental Death and Disability Benefit separately while buying a Navjeevan policy. For this you will have to pay additional premium amount. The minimum sum assured of this scheme is Rs 1 lakh. On completion of Navjeevan policy, you can get insurance up to 11 lakhs.
