Friday, February 23rd, 2024

LIC introduces new insurance policy ‘Jeevan Utsav’, you will get assured returns, loan facility also, know details


Photo:REUTERS Minimum age should be 18 years (completed) at the beginning of the policy year.

Life Insurance Corporation of India i.e. LIC on Wednesday introduced a new insurance policy Jeevan Utsav. The company has introduced this policy with very attractive features. It promises assured returns for investors. According to language news, LIC said in the information given to the stock market that it is a non-linked, non-participating, individual savings, whole life insurance plan. The company believes that the new insurance policy ‘Jeevan Utsav’ is ready to create a stir in the market.

You will get 10 percent of the policy throughout your life

According to the news, LIC Chairman Siddharth Mohanty had recently said that the new policy will provide assured returns and after its completion, the policyholder will get 10 percent of the sum assured throughout his life. Everyone wants to know how much he is paying and how much he will be rewarded after 20-25 years. He said that apart from this, features like loan facility and premature withdrawal are also available in the new insurance policy ‘Jeevan Utsav’.

know the policy

The policyholder will have two options to choose from at the inception of the cover. Benefits will vary depending on the option chosen. There will be one option – regular income benefit and the other flexi income benefit. The minimum basic sum assured amount of the policy will be Rs 5 lakh. There is no limit on the maximum basic sum insured. The premium payment term in this policy is limited to 5 to 16 years with lifetime returns. Additional guarantee will be given during the premium payment period. The minimum age at the commencement of the policy year should be 18 years (completed) and the maximum age at premium expiry should be 75 years (near birthday).

Payment of interest and pre-withdrawal

LIC will pay interest at the rate of 5.5% per annum on delayed and cumulative flexi income benefits. It is calculated annually for complete months from the due date to the date of withdrawal, surrender or death, whichever is earlier. On giving a written request a policyholder can withdraw up to 75% of the sum, including interest, if any, not already taken. The net amount will keep increasing after withdrawal.

Latest Business News



Whatsapp GroupJoin
Telegram channelJoin

LPG Cylinder Price: Gas cylinder can be cheaper, the government has indicated, know how much the price will remain

New Delhi: There is good news for the common people who are facing the brunt of inflation. On the occasion of Raksha Bandhan, the Modi government can give the gift of cheap LPG cylinders....

There was a rise in the prices of both gold and silver on Tuesday, know today’s latest rates

Gold Silver Price on 13 December 2022: After the fall in the gold-silver price on Monday, today both are registering an increase. On Tuesday i.e. December 13, 2022, an increase in the price of...

Supply of new office space rises 400% in Ahmedabad, falls in NCR, Mumbai, says report

This information has been received from the report of property consultant CBRE India. According to CBRE India’s report on the office market, the supply of new office space during the calendar year 2022 increased...