Life Insurance Corporation (LIC) keeps coming up with great schemes for its customers from time to time. One of these is ‘LIC Jeevan Utsav’. This is a traditional and non-linked plan, that is, it has nothing to do with the stock market. This scheme gives you completely safe and guaranteed returns, so that you can be assured of your future. By investing in this special scheme, you can get a fixed pension of ₹ 15,000 every month after your retirement.
What is the Jeevan Utsav scheme?
You can deposit money in the LIC Jeevan Utsav Yojana from 5 years to 16 years. This policy matures at the time of your retirement. How much return you will get in this scheme will depend on how long you have invested. Under this scheme, investors get a sum assured of at least ₹ 5 lakh. Anyone between the ages of 8 and 65 years can invest in this scheme.
Benefits of both term and life insurance
By investing in the LIC Jeevan Utsav plan, customers get the benefit of both term insurance and life insurance. In this plan, you get the benefit of coverage not only for a fixed period but for your whole life. This is why it is considered a lifetime return guarantee scheme. It ensures complete security for you and your family.
The biggest feature of this plan is that it gives the benefit of both term insurance and lifetime returns. That is, you get coverage not only for a fixed period but for your whole life.
Return options and interest rates
After investing in ‘LIC Jeevan Utsav’, policyholders get two options, out of which they have to choose one:
Regular Income Benefit
In this, after maturity, you keep getting a fixed income every year, which works like your monthly pension.
Flexi Income Benefit
In this option, you can withdraw money according to your needs. In this, you also get annual interest at the rate of 5.5% on the outstanding amount.
What will happen in case of an emergency
If, for some reason, the policyholder dies before maturity, then the nominee is given 105% of the total premium deposited till that time, along with the bonus. This scheme also provides financial security to your family.
‘LIC Jeevan Utsav’ is an excellent investment option for those who want guaranteed returns with low risk. This scheme not only makes your retirement secure, but also ensures a fixed source of income for your entire life.