Saving Scheme : A fund worth lakhs can be created with small savings. Just for this you need the right platform and strategy. LIC is one of the trusted platforms for investment. We are going to tell you about a special scheme of LIC, by investing in which you can collect Rs 40 lakh. The name of this policy is “Jeevan Labh”. The plan was started in the year 2020.
About the policy
LIC Jeevan Labh Scheme is a long term investment plan. It matures in 25 years. Along with returns, one also gets the benefit of insurance. The policyholder has to pay the premium for a limited time period. A minimum sum assured of Rs 2 lakh is available.
Whereas if you invest for 25 years, you get a sum assured of Rs 15 lakh, for this you have to invest at the age of 25 years. In case of death of the investor before maturity, financial assistance is provided to the family. The facility to take loan on this basis is also available. Anyone in the age group of 8 years to 59 years can avail the benefits of the scheme.
Here is the calculation
If a person buys the policy at the age of 25, he will have to pay a premium of Rs 70,188 in the first year. Whereas from the second year onwards a premium of Rs 68,677 has to be paid.
According to this, the policyholder has to deposit Rs 5842 every month. Meaning the investor will have to save around Rs 195 every day. After this, an amount of Rs 40,50,000 will be received during maturity. In which Rs 15 lakh will be sum assured, Rs 11, 00, 347 will be deposit amount and Rs 18, 75, 000 will be bonus amount.
