LIC Policy: Today LIC has launched a new policy. The name of this policy is Jeevan Utsav. In this policy, the policyholder will get the benefit of many facilities like loan with high interest rates. Let us know about it in detail..
LIC, a giant in the insurance sector, has today launched a guaranteed return scheme. The name of this scheme is ‘Jeevan Utsav’ Policy. It is a non-linked, non-participating, saving and whole life insurance policy, LIC said in a regulatory filing.
LIC Chairman Siddharth Mohanty had said in an interview that policyholders can avail life long benefit of 10 percent of the sum insured after the policy matures. He said that Utsav is set to create a stir in the policy market. It is perfect for investors looking for a transparent cost structure and returns over a period of 20-25 years.Policyholder will have two options –
At the inception of the cover the policyholder will have two options to choose from. Benefits will vary depending on the option chosen. The first option is Regular Income Benefit and the second option is Flexi Income Benefit.
Know what is the policy?
In this insurance of LIC, the minimum basic insurance amount for the policyholder is Rs 5 lakh. There is no limit on the maximum basic insurance amount. The premium payment term in this policy is limited to 5 to 16 years with lifetime returns.
What is the eligibility?
If you want to buy this policy then your age should be between 90 days to 65 years. The minimum premium payment term is 5 years and the maximum premium payment term is 16 years.
How much interest do you get?
On this policy of LIC, LIC will pay interest at the rate of 5.5% per annum on the deferred and cumulative flexi income benefits to the investors.
What are the benefits available?
Policyholders get survival benefit, maturity benefit, accumulated benefit, death benefit.
