LIC launches Jeevan Labh

LIC has introduced a limited premium paying, non-linked, with-profits Endowment Assurance plan “LIC’s Jeevan Labh” on Monday. The Plan is available for public in general of age 8 years to 59 years and a choice of policy term of 16,21,25 years with premium paying term of 10,15 and 16 years respectively. Maximum age at maturity is 75 years.  On  maturity of the policy and the policy holder surviving  to the end of the policy term, basic sum assured along with vested simple reversionary bonuses and final additional bonus, if any, shall be payable. In case of  death during the policy term, the death benefit, defined as “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.