New Delhi: Life Insurance Corporation (LIC) of India offers a slew of secured investment schemes providing impressive returns to investors in a short span of investment tenure. Investors can put their money in LIC policies to secure their future and retirement.
For instance, in a LIC policy called Jeevan Labh, you can start investing roughly about Rs 233 daily, approximately Rs 7000 in a month, to get Rs 17 lakh at the time of maturity.
Investments in LIC’s Jeevan Labh Plan are exempted from income tax under Section 80C of the Income Tax Act, 1961. The insurance scheme is a non-linked scheme, meaning that the returns are not based on any stock markets. Benign a non-linked policy makes Jeevan Labh Plan one of the safest investment options to invest in 2022.
The minimum age to start investing in LIC Jeevan Labh policy is 8 while the maximum age to enter the policy is 59 years. The policy’s term period ranges from 16 to 25 years. The minimum sum assured in LIC Jeevan Labh is Rs 2 lakh.
Investors can also take loans against their investments after paying premiums for 3 years. Moreover, in case of the unfortunate demise of the policyholder, the nominee receives the benefits of Sum Assured along with a bonus.
Investors should be aged 54 or less to opt for a policy term of 21 years. Whereas, investors should be aged 50 years or less for selecting the policy of 25 years. Also Read: CAIT moves to CCI against 'Chinese' firm Shopee for hurting Indian SMEs
Also, in case the policyholder dies during the policy term and has paid all premiums till death, the investor’s nominee receives Death Sum Assured, Simple Reversionary Bonus and Final Addition Bonus as Death Benefit. Also Read: Centre appoints Dr V Anantha Nageswaran as the Chief Economic Advisor
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