LIC Jeevan Utsav: Get Up To 1 lakh Pension Every Month! Choose This LIC Plan, Here Are The Complete Details

LIC Jeevan Utsav is a great scheme for everyone for Savings and whole life insurance. LIC Jeevan Utsav is a newly launched LIC scheme that offers lifelong coverage against risk and assured income. The scheme will add great additions every year that will be added to the benefits of the plan.

LIC Jeevan Utsav is open to everyone, anyone who is aged between 90 days and 65 years can apply for the scheme. Premium can be paid for a minimum of 5 years and a maximum of 16 years under LIC Jeevan Utsav policy

If the policyholder survives more than the premium paying term which is 5 years to 65 years, they are provided with two options for receiving benefits. For example, assume that you have a LIC Jeevan Utsav policy with a basic sum amount of 100000 rupees. You have been paying premiums for almost 10 years and you have reached the end of the premium term.

LIC Jeevan Utsav
LIC Jeevan Utsav

Option one is regular income benefit. With this option, you will receive 10% of the basic amount each year after a certain amount of period. That means in our example, from the 11th year onwards, you will receive 10% of 100000 which you have invested which is 10000 rupees every year as income for the rest of your life.

Option two is the flexi income benefit. With this option rather than getting the money right away or immediately you can choose to save it up for taking out later. As per Example, for the same basic sum of Rs 100000 you will accumulate 10% which is 10000 rupees each year, this amount will be added with interest over the years. So if accumulate this for 5 years we will have up to 50000 + interest added to your account. After 5 years you can withdraw this money along with the interest.

If the policyholder dies after paying the premium term, his or her family will get the death benefit along with extra guaranteed money. The death benefit could be a basic amount assured or 7 times the yearly premium.

LIC Jeevan Utsav plan will also allow you to take loans if you need extra money. You may get a discount if you say a higher sum is assured for the LIC Jeevan Utsav Plan. There are five options where you can add extra coverage to your plan such as Accidental Death and Disability Benefits, Premium Waiver Benefits, Coverage for Critical Illnesses, Extra Term Insurance, and Accident Coverage

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