LIC Jeevan Labh
LIC’s Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan which offers a combination of protection and savings.
This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder.
This plan also takes care of liquidity needs through its loan facility.
On Survival : On survival Basic Sum-Assured + Reversionary Bonus+ Final Additional Bonus.
Surrendered Value :The Policy can be surrendered at any time during the policy term provided at-least three full years premiums have been paid.
Loan :Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.
Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).