LIC Jeevan Utsav Policy: If you are worried about earning after retirement from job, then Life Insurance Corporation of India can be a better option. Insurance company Life Insurance Corporation of India has launched Jeevan Utsav Policy. Under this policy, you will have to invest Rs 10,000 every month.
LIC Jeevan Utsav Policy: Many types of policies are being run by the country’s largest insurance company Life Insurance Corporation of India (LIC). The company launches policies according to the needs of different classes. Similarly, the company has introduced Jeevan Utsav. This is a traditional plan, not linked to the market. That means you will get guaranteed returns in this. This is such a scheme in which after retiring from the job, you will get a pension of Rs 15,000 every month.
You can invest in LIC’s Jeevan Utsav scheme from 5 years to 16 years. This policy of LIC matures at the time of your retirement. How much return you will get in this plan will depend only on the period for which you have invested in the plan. Under this scheme, investors will get a sum assured of at least Rs 5 lakh. People from the age of 8 to 65 years can invest in LIC Jeevan Utsav plan.
Getting the benefit of term insurance
By investing in LIC Jeevan Utsav Plan, customers get the benefit of both term and life insurance. So, like term insurance, in this scheme you are getting the benefit of coverage not only for a fixed period but for the whole life. That is why it is a lifetime return guaranteed scheme.
Interest Rate in Jeev Utsav Policy
After the cover starts, policy holders get two options. One has to choose one of the options. The first option is regular income benefit and the second option is flexi income benefit. In this, investors will be given annual interest at the rate of 5.5%. This interest will be given on delayed and cumulative flexi income benefit. If the policy holder dies before the policy matures, then in such a case, the nominee is given 105% of the total premium deposited till that time as a bonus.
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