Life Insurance Corporation of India (LIC), India's largest insurance company, runs many schemes for people with different incomes. The biggest special thing about LIC is that you get guaranteed returns by investing in its schemes. Along with this, customers also do not have to face the dangers of market risks. This is the reason why investing in LIC schemes is considered safe.
These days, a scheme of LIC is being discussed a lot among the people. This scheme was launched by Life Insurance Corporation of India last year, whose name is Jeevan Azad Plan (LIC Jeevan Azad Plan). This scheme of LIC has remained popular among the people since its launch. Let us know what is Jeevan Azad Plan and what are the benefits customers get in it?
Life Insurance Corporation of India (LIC) launched Jeevan Azad Plan in January 2023. The company had brought this scheme so that people get the benefit of savings along with security. This is a non-linked, non-participating, individual scheme. In this scheme the customer will have to invest for a period of 15 to 20 years. The minimum sum assured amount in this scheme is Rs 2 lakh, while the maximum sum assured under this scheme by LIC has been kept at Rs 5 lakh.
If someone has purchased this policy or is a holder of the policy, then the amount decided by the insurance company at the time of purchasing the policy will be paid in full at the time of maturity. According to the LIC document, for those aged eight years and above, the acceptance of risk will commence from the date of issue of the policy.
The document for information about Jeevan Azad Plan was released by LIC on its website. According to this document, to become a holder of Jeevan Azad Plan, the customer's age should be at least 90 days and the maximum age should be 50 years.
LIC has made four types of plans for depositing the installment for Jeevan Azad Plan. A minimum installment amount is Rs 5000. After this, the amount of quarterly installment is Rs 15000, half yearly Rs 25000 and annual installment is Rs 50000.
(PC: ISTOCK)
