Life Insurance Corporation of India (LIC) recently announced new endowment plan on 4th january which is called name as Jeevan Labh LIC Plan under the Table no. 836. A Unique Identification Number which is given by the LIC Jeevan Labh Plan and that is 512N304V01. OWho required to buy the policy of Jeevan Labh have to quote policy holder relevant documents and UIN No.
LIC Jeevan Labh Plan who is non Linked (Not Dependent on Share Market) limited Premium Paying Endowment Plan So for this Table no. 836 Policy holder pay term in less than policy term For Example If policy term 16 has selected then Policyholder have to paid only 10 years time premium and maturity amount will be paid after the 16 Years of Completion. This Jeevan Labh Policy is same liek jeevan shree which is currently close on sale and it is one of the highest bonus attracting plan of LIC in history. So all the policy holder may try this Jeevan Labh Policy.
Key Features of LIC Jeevan Labh Plan
Higher Return due high bonus
under this policy Premiums need to be paid for less number of years than Maturity year
Ideal Plan for planning Child’s Education and Marriage
Options to avail accidental benefit and term riders
Paid premiums on this policy are exempted from income tax under 80C
Maturity amount of jeevan labh is tax free under 10 (10D)
On survival of the Life Assured after the completion of policy term at maturity,
Maturity benefit (Benefits payable on maturity) = Basic Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
In case Policy holder death during the policy term then Death Benefit : ‘Sum Assured on Death’ + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
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