LIC Investment Scheme- Invest Once, Earn for Life, Check Features

LIC Scheme: If you’re in search of an insurance plan that alleviates the stress of making repeated installment payments while still providing lifelong coverage and guaranteed returns, LIC has a wonderful offer for you. The largest insurance provider in the country is set to introduce a new plan named Jeevan Utsav Single Premium on January 12th. The standout feature of this plan is that you only need to make a single deposit, and you’ll continue to enjoy benefits for an extended period.

This plan requires the policyholder to pay just a one-time premium. This removes the inconvenience of annual or monthly payment schedules. It can be particularly beneficial for individuals who prefer not to deal with regular premium payments or who desire a reliable and secure option post-retirement. Once the investment is made, the insurance coverage remains in place, providing financial security for the family.

Whole life insurance coverage

This plan offers whole life coverage, ensuring lifelong protection. In the event of an unfortunate incident involving the policyholder, the family will receive a predetermined sum assured. Additionally, it is a non-linked plan, meaning it is not influenced by stock market volatility. The returns are guaranteed. Therefore, this plan effectively combines both savings and protection.

This plan can be viewed not only as an insurance policy but also as a secure savings alternative. It is ideal for those looking for assured returns with minimal risk. For individuals planning for the long term, this scheme can assist in securing a stable future.

Relief for those with discontinued policies

LIC has also provided relief to customers whose old policies have lapsed. The company’s special revival campaign is running until March 2nd. During this period, a 30 percent discount on late fees, up to a maximum of Rs 5,000, is being offered for reviving non-linked policies. Meanwhile, late fees are being completely waived for micro insurance plans, provided the policy is revived within five years of the due date. This is a good time for those seeking lifetime protection through a lump sum investment or those who wish to revive their old policies.