LIC Policy: Nowadays, everyone invests to secure their future and that of their family. If you’re considering investing, this news could be very important for you. LIC operates several investment policies. Investing in these policies ensures complete safety and a substantial return upon maturity. We’re talking about the LIC Jeevan Lakshya policy, which offers guaranteed returns.
Learn about the Jeevan Lakshya policy
LIC’s Jeevan Lakshya policy is especially important for investors because it provides the policy maturity proceeds upon the policyholder’s death. In this policy, the company bears the premiums after the policyholder’s death, and 10% of the sum assured is deposited annually into the nominee’s account.
Who can take the policy?
The investment period for the LIC Jeevan Lakshya policy is 13 to 25 years. Individuals aged 18 to 55 can invest. Premiums must be paid three years before the maturity date. The maximum maturity age is 65 years. This policyholder can claim a sum assured of up to ₹1 lakh. Under this scheme, policyholders can pay monthly, quarterly, half-yearly, and annual premiums.
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Learn about the death benefit
In an LIC policy, if the policyholder dies before maturity, the LIC company collects the remaining premium, and the nominee receives 10% of the sum assured every year until maturity. Upon maturity, the remaining amount is disbursed to the nominee.