LIC Jeevan Utsav: Let us tell you that recently LIC has launched a new plan. Which is named Jeevan Utsav. You will be happy to know that this scheme will also provide guaranteed returns and insurance cover throughout your life. Along with this, you will also get other benefits…
LIC Jeevan Utsav: Life Insurance Corporation of India i.e. LIC has launched a new scheme on Wednesday. The name of this scheme is LIC Jeevan Utsav. It is a non-linked, non-participating, individual, savings and whole life insurance scheme. In this scheme, 10% of the sum assured is returned every year after a specified number of years,
depending on the selected premium payment term (flexi income from regular income). This scheme provides lifetime life insurance coverage to the policyholder. The policyholder has to choose between two options when the cover starts. These options have different benefits. Option I – Regular Income Benefit. Option II – Flexi Income Benefit.
LIC wrote in a post on social media platform X, ‘LIC is starting a new scheme named Jeevan Utsav. In this you will get lifetime guaranteed returns. You will also get the benefit of complete life insurance.
No limit on maximum basic sum assured –
The minimum basic sum assured in this new scheme of LIC is Rs 5 lakh. However, there is no limit on the maximum basic sum assured. This policy has a limited premium payment term of 5 to 16 years. There is also the facility of life time returns. The minimum age for this scheme is 18 years and 75 years is the maximum premium expiry age.
Interest and Withdrawal –
LIC will pay interest at the rate of 5.5% per annum on delayed and cumulative flexi income benefits. This withdrawal will be calculated on annual basis for complete months till the date of surrender or death, whichever is earlier. At the same time, on giving a written request, a policyholder can withdraw up to 75% of the amount, which also includes interest. There is no maturity benefit in this scheme.
