The Life Insurance Corporation of India (LIC) is one of the most trusted companies that offers guaranteed and safe returns to investors. If invested well and in time, the benefits can be unbelievably good.
In the range of schemes that LIC has to offer, one such scheme can fetch you Rs 17 lakh on the maturity of the amount. In this, the investors just have to invest Rs 233 every month in the LIC Jeevan Labh policy, it’s also the non-linked scheme 936. For the unversed, a non-linked scheme does not depend on mutual funds and stocks which is the reason why it is considered one of the most trusted schemes in the market.
For this scheme, the minimum age of investment can be between 8 and 59 years. The policy term can be taken for a term of 16 to 25 years. The minimum assured amount is Rs 2 lakhs and there is no limit to the maximum limit.
If an investor pays premiums for 3 years, they can also avail loans against their investments. Another benefit of this scheme is that it is exempted from tax deductions.
In case the policyholder dies, their nominee gets the benefits of the scheme and the sum assured along with a bonus. If the policyholder dies during the policy term but has managed to pay all premiums, then their nominee gets Death Sum Assured, Simple Reversionary Bonus and Final Addition Bonus as Death Benefit.
