LIC: 50 lakh profit on an investment of Rs 8,000, LIC's Jeevan Labh Yojana
By Benson | Updated: June 23, 2022 12:37 IST2022-06-23T12:37:18+5:302022-06-23T12:37:18+5:30
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Life Insurance Corporation of India (LIC) provides many plans to the people. These schemes also benefit the people a lot. LIC has some plans from which you can get a lifetime return. One of these is the 'Life Benefit Scheme'.
Life Benefit LIC Scheme- LIC's Life Benefit Scheme No. 936 offers many benefits including life insurance. What is special about this plan is that three different terms can be chosen and premium has to be paid accordingly.
Highlights of LIC's Life Benefit - Minimum age for this scheme is 8 years and maximum age is 59 years. The minimum sum assured in this plan is Rs. 2 lakhs. There is no limit to the maximum amount. The period can be chosen according to 16 years, 21 years or 25 years.
If you choose a term of 16 years, you will have to pay a premium for 10 years. If you choose a term of 21 years, you will have to pay a premium for 15 years. If a term of 25 years is chosen, the premium will have to be paid for 16 years. It has a return of more than Rs 50 lakh on an investment of less than Rs 8,000.
This policy has to be started at the age of 25 to get a big return. Also, a sum assured of Rs 20 lakh must be selected. Also, the term has to take 25 years. Under this, premium of Rs.93584 (Rs.7960 per month) will have to be paid in the first year.
If the term is taken for 25 years, then the premium has to be paid for 16 years only. After 16 years no premium will have to be paid in the following years. After that, when the insured matures at the age of 50, he will get a maturity amount of around Rs. 52,50,000.