Jeevan Labh premium might be paid on month-to-month, quarterly, half-yearly or yearly foundation.
Life Insurance Corporation (LIC), the nation’s largest life insurer, gives LIC Jeevan Labh coverage which is an endowment plan that gives a lump sum quantity to the policyholder on the time of maturity of coverage, and monetary help for the household in case of demise of the policyholder earlier than maturity of coverage, in keeping with LIC. The LIC gives numerous insurance coverage insurance policies like phrases insurance coverage insurance policies, a reimbursement insurance coverage, pension plans and medical insurance plans. Endowment insurance coverage supplied by LIC are a mixture of safety and financial savings, LIC stated in a press launch. LIC’s Jeevan Labh Policy is among the endowment insurance coverage coverage being supplied by the state-owned insurer. (Also Read: LIC Jeevan Akshay VII Plan: Pensions, Premiums And Other Benefits Here)
Here are particulars of premium, eligibility standards, sum assured and different advantages relevant to LIC’s Jeevan Labh insurance coverage coverage:
The LIC Jeevan Labh coverage might be bought any particular person within the age group of 8-59 years if the coverage time period is for 16 years. The minimal sum assured for LIC’s Jeevan Labh coverage is Rs 2 lakh and there’s no most restrict for the quantum of sum assured, in keeping with the LIC web site.
(Also Read: LIC Jeevan Umang Policy’s Premium, Eligibility, Other Details Here)
The premium for LIC Jeevan Labh coverage might be paid recurrently on a month-to-month, quarterly, half-yearly or yearly foundation. A grace interval of 1 month however not lower than 30 days is allowed for fee within the yearly, half-yearly and quarterly modes, and 15 days in case of month-to-month funds, in keeping with the LIC web site.
(Also Read: LIC Jeevan Shanti Versus LIC Jeevan Akshay-VI: Which One To Choose)
LIC gives three completely different coverage/premium-paying phrases for the Jeevan Labh coverage: 16 years coverage time period and 10 years premium paying time period; 21 years coverage time period and 15 years premium paying time period, and 25 years coverage time period and 16 years premium paying time period.
