LIC Scheme : In a time when financial security is a major concern, a Life Insurance Corporation of India (LIC) scheme is grabbing headlines for offering incredible returns. Imagine investing just ₹45 per day and receiving up to ₹25 lakh at maturity! This LIC policy has become a hot topic among investors, especially middle-class families, due to its unmatched benefits and low premium structure. Here’s a detailed breakdown of this high-return LIC policy and how you can benefit from it.
What Is the LIC Plan Offering ₹25 Lakh Maturity?
LIC’s most discussed scheme right now is the LIC Jeevan Labh policy. It’s a limited premium, non-linked, with-profits endowment plan designed to offer life insurance along with savings. It combines protection and savings, making it ideal for individuals planning for long-term financial goals like children’s education, marriage, or retirement.
Key Highlights of LIC Jeevan Labh Plan:
- Daily investment starts as low as ₹45 (depending on age and tenure)
- Maturity benefit up to ₹25 lakh
- Policy term options: 16, 21, and 25 years
- Premium payment terms: 10, 15, or 16 years
- Death benefit plus bonus included
- Loan facility available after 3 years
- Suitable for long-term goal planning
Eligibility Criteria for the LIC Jeevan Labh Plan
Below is a table summarizing who can apply for the scheme:
| Criteria | Details |
|---|---|
| Minimum Entry Age | 8 years |
| Maximum Entry Age | 59 years |
| Maximum Maturity Age | 75 years |
| Policy Term | 16, 21, or 25 years |
| Premium Payment Term | 10, 15, or 16 years |
| Minimum Sum Assured | ₹2 lakh |
| Maximum Sum Assured | No upper limit |
| Payment Frequency | Yearly, Half-Yearly, Quarterly |
How a ₹45 Daily Investment Grows to ₹25 Lakh
Let’s understand how a simple ₹45 daily investment can turn into ₹25 lakh at maturity. Assuming the policyholder is 25 years old and takes a policy of ₹10 lakh sum assured for a 25-year term, here’s how the calculation works:
| Details | Value |
|---|---|
| Age of Policyholder | 25 years |
| Policy Term | 25 years |
| Premium Payment Term | 16 years |
| Approx. Yearly Premium | ₹16,000 |
| Daily Investment | ₹45 approx. |
| Total Investment (16 years) | ₹2.56 lakh |
| Maturity Value (with bonus) | ₹25 lakh approx. |
Note: The final maturity amount depends on the bonus declared by LIC annually.
Benefits of LIC Jeevan Labh Plan
This scheme has been gaining popularity for the following advantages:
- High Returns at Low Premium: Offers a large maturity amount with low annual payments.
- Guaranteed Death Benefit: Provides financial protection to the family in case of the policyholder’s demise.
- Tax Benefits: Under Section 80C and 10(10D) of the Income Tax Act.
- Loan Facility: You can avail of a loan against the policy after 3 years.
- No Market Risk: Since it is a non-linked plan, there is no risk from stock market fluctuations.
Who Should Consider This LIC Scheme?
This scheme is ideal for:
- Salaried employees seeking long-term savings and protection
- Parents planning for children’s future expenses
- Individuals wanting a risk-free investment
- People looking for tax-saving instruments
- Young investors who can start early and benefit more
Comparison with Other LIC Plans
Here’s how LIC Jeevan Labh compares with other popular LIC policies:
| Feature | Jeevan Labh | Jeevan Anand | Endowment Plan |
|---|---|---|---|
| Death + Maturity Benefit | Yes | Yes | Yes |
| Bonus Participation | Yes | Yes | Yes |
| Market Linked | No | No | No |
| Loan Facility | Yes | Yes | Yes |
| Premium Flexibility | Moderate | High | High |
| Ideal For | Savings + Safety | Dual Benefit | Basic Savings |
How to Apply for LIC Jeevan Labh Scheme
Applying for this policy is easy and can be done both online and offline.
Steps to Apply:
- Visit the nearest LIC branch or meet a registered LIC agent.
- Alternatively, go to the official LIC website and select “Buy Policy Online.”
- Choose Jeevan Labh Plan.
- Fill out the application form with basic and health details.
- Submit required KYC documents (ID proof, address proof, age proof).
- Pay the premium and receive the policy bond.
Documents Required:
- Aadhaar Card / PAN Card
- Passport size photographs
- Income proof (for high-value policies)
- Bank details for premium deduction
Important Points to Remember
- Surrender value available after 3 years
- Premiums must be paid on time to avoid lapse
- Policy can be revived within 5 years of lapse
- Riders like Accidental Death Benefit can be added
LIC’s Jeevan Labh plan is truly a game-changer for small investors aiming for big financial goals. A daily investment of just ₹45 can potentially yield ₹25 lakh, making it a powerful blend of savings and insurance. It’s an excellent option for anyone looking to secure their future with guaranteed returns and tax benefits. However, always read the policy terms carefully and consult an LIC agent to customize the plan as per your needs.
The returns and benefits mentioned above are indicative and may vary based on LIC’s bonus rates and policyholder’s profile. Always confirm details with an authorized LIC representative before investing.
How does the LIC scheme offer ₹25 lakh on maturity for ₹45 investment?
Through record-breaking returns and benefits.
What records has the LIC scheme been breaking with its ₹45 investment plan?
By offering ₹25 lakh on maturity.
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