LIC Policy Jeevan Utsav: This new plan will fill your pocket with money throughout your life..
Insurance giant Life Insurance Corporation (LIC) on Wednesday introduced its new service Jeevan Utsav (LIC Jeevan Utsav). Guaranteed returns have been promised in this. LIC said in the information given to the stock market that it is a 'non-linked', non-participating, individual savings, whole life insurance plan.
Special features of LIC Jeevan Utsav (LIC Jeevan Utsav Features)
LIC's Jeevan Utsav plan number is 871, which comes with lifetime guaranteed returns. In this, you will get the option of full life life insurance and benefit payment. The limited premium payment period in this is 5 to 16 years. There is a provision for a guaranteed increase only while paying the premium. In this, you will get regular income benefits and flexi income benefits. The minimum basic sum assured will be Rs 5 lakh. The minimum age at the time of commencement of the policy should be 18 and the maximum at the time of completion of the premium should be 75 years. With this scheme, LIC will also give annual interest at the rate of 5.5% to the policyholder. However, the policyholder will not get a maturity benefit with this plan.
LIC Chairman had announced the plan
LIC Chairman Siddharth Mohanty, while sharing some of the features of the new service last week, had said that it will provide assured returns and after its completion, the policyholder will get 10 percent of the sum assured for the lifetime. Mohanty had said that the new product is ready to create a stir in the market. Everyone wants to know how much he is paying and how much return he will get after 20-25 years. He said that apart from this, loan facilities and premature withdrawal are also included in the features of this new service.