LIC Jeevan Labh: If you are looking to earn substantial returns through a secure investment, an LIC policy could be the answer. We are discussing the LIC Jeevan Labh policy; it is an excellent option for those seeking a combination of safe savings and life cover. Marketed with the tagline “Premiums stop, benefits continue,” this offering is a non-linked personal savings policy.

A key feature of this policy is that the policyholder is not required to pay premiums for the entire duration of the policy; instead, the premium payment term is significantly shorter than the overall policy term. The plan offers a minimum sum assured of ₹2 lakh, and the minimum entry age is set at 8 years.

Understanding the LIC Jeevan Labh Plan
LIC’s Jeevan Labh is a participating, non-linked life insurance and personal savings plan. It has been launched with the slogan “Premium payments stop, but benefits continue.” This plan offers life insurance coverage along with additional benefits.

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Understand Premium and Policy Terms
LIC’s ‘Jeevan Labh’ policy offers flexible tenure options. You can choose a policy term of 16, 21, or 25 years. A key feature is that you do not have to pay premiums for the entire duration of the policy. For a 16-year term, premiums are payable for only 10 years; for 21-year and 25-year terms, premiums are payable for only 16 years. This means the payment period is shorter than the total policy term. The minimum sum assured is ₹2 lakh, while there is no upper limit on the investment amount.

Age Eligibility for Plans
This policy can be purchased starting from the age of 8. The maximum entry age is 50 years for the 25-year policy, 54 years for the 21-year policy, and 59 years for the 16-year policy.

How ​​to Purchase the Policy
You can purchase this LIC policy by contacting an LIC agent or visiting a branch. Alternatively, you can buy it via the website. You can also send a message with your city’s name to 56767474, call the call centre at (022) 6827 6827, or send a ‘Hi’ message on WhatsApp.

Important Points to Consider Before Purchasing
Before buying the policy, fully understand the associated risks, terms, and conditions. Additionally, beware of fake phone calls and fraudulent offers. If you receive such calls, be sure to file a complaint with the police.