LIC launched a new plan, cover up to Rs 2 lakh, know who will get the benefit

Jyoti — Wed, 09 Oct 2024 08:03:24 +0000

LIC New Plan: LIC has launched a new plan. This plan is for companies, groups etc. and the employees working in them. NGOs etc. will also get its benefit. This is a single premium plan. In this, the employee’s cover is up to Rs 2 lakh. If the employee leaves that institution or group, then he will not get its benefit.

Life Insurance Corporation of India (LIC) has launched a new plan. Its name is ‘Group Micro Term Insurance Plan’. It is a single premium plan. It is a pure risk, group, non-linked and non-participating policy.

This plan is especially for financial institutions like micro finance, cooperative societies, self-help groups and non-governmental organizations (NGOs). This plan will not only be able to meet the demand of these financial institutions but will also cover the members and beneficiaries of these institutions.

They will also get the benefit of this plan

Unorganized groups, companies and employee groups etc. will also get the benefit of this plan of LIC. If the policy holder dies in an accident, the family will get financial assistance. If there is any loan on the policy holder, it can be repaid through this policy. Its premium has not been told yet.

These are the main benefits of this plan

The benefit of this plan will be available to those groups which have 50 or more members.
It will have a risk cover of sum assured of Rs 5 thousand to Rs 2 lakh. This will be for each member.
This is a single premium plan. This means that you will have to pay the premium only once for purchasing this plan.
There will be flexibility in choosing this plan. That is, it can be chosen from one month to 10 years.
If both husband and wife work in an institution, then it can be taken jointly by both of them.
Its biggest advantage is that no type of medical test is required to avail this plan.

You will not get the benefit of maturity

There will be no maturity benefit in this plan. The family members will get the policy amount only if the policy holder dies in an accident. In such a situation, the sum assured of the policy will be given to the nominee. However, if the death occurs due to any reason other than an accident, then less amount will be given.

You will not get benefit in these situations

There are many things in this plan due to which the policy holder will not get any benefit. These conditions are as follows:

If that person is removed or leaves a group, his policy will be cancelled.
The policy will be cancelled even if the prescribed age limit is exceeded.
Even if the policy is surrendered, there will be no benefit.
When the policy expires.

What is the status of LIC shares?

On Monday, LIC’s stock showed a gain of more than one and a half percent. However, when the stock market was falling in the past, its shares were also falling. Currently, its share price is Rs 946. If we talk about one month, then it has fallen by about 8 percent in this time. This stock was listed in May 2022. Since then, it has gained more than 14 percent.

LIC’s great plan, by saving Rs 256 daily, you will get 54 lakhs – Check full Details Here

Pravesh Maurya — Thu, 01 Jun 2023 10:05:02 +0000

LIC Jeevan Labh plan : If you are going to invest in LIC’s plans then you can get better returns with good interest rates by saving Rs.256 daily.

Because Life Insurance Corporation of India (LIC) keeps coming up with various types of investment schemes to meet the needs of the people of every section of the country. You can invest in LIC’s (Policy No-936) Jeevan Labh plan. This scheme includes many benefits of insurance coverage and savings for the customers. In this, customers can avail a substantial amount of Rs 54 lakh with a monthly investment of only Rs 7,960 per month or approximately Rs 265.

LIC Jeevan Labh plan acts as a dependable financial security for the family in the unfortunate event of death of the policyholder. Moreover, if the policyholder survives till the maturity period, a lump sum amount awaits him. This particular plan also gives the investors the flexibility to choose the desired amount and term for the insurance policy.

265 rupees will have to be saved every day

People in the age group of 18 to 59 years can take advantage of LIC Jeevan Labh policy. Suppose a person chooses to get this policy at the age of 25 years with a Sum Assured of Rs.20 Lakhs and a plan term of 25 years. So on maturity, the policy holder will get an amount of Rs 54 lakh. To accomplish this, the customer will have to pay premiums for 16 years, while the maturity period of the policy is 25 years.

Let us say that if the installment of every month is Rs 7,960, which includes GST, that will cut the investment up to Rs 265 every day. Over the course of 25 years, the total premium paid would be approximately Rs.14,67,118, while the maturity amount would end at Rs.54 lakhs, complete with a final additional bonus of Rs.9 lakhs.

This scheme will be useful in the death of the policy holder

LIC Jeevan Labh policy enables the policy holders to choose premium payment terms of 10, 15 or 16 years term. On completion of the policy term after 16, 21 or 25 years, they will get back the deposited amount. In the unfortunate event of the policyholder’s demise during the policy term, the nominee receives the comprehensive benefits of the policy including the Sum Assured and applicable bonuses.

The death benefit in this policy is of vital importance, as it guarantees the return of the sum assured on the death of the policyholder, provided the policy is in force and all premiums are paid in time.

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