Top News

LIC Jeevan Azad Policy: This policy of LIC is in huge demand… know its features

patrika | May 21, 2024 11:43 AM CST

LIC Jeevan Azad Plan: Life Insurance Corporation of India (LIC) is the largest insurance company in the country. LIC also has many other investment plans along with life insurance. There are many such schemes of LIC, which are very popular among the people.

LIC Jeevan Azad Plan: Life Insurance Corporation of India (LIC) is the largest insurance company in the country. LIC also has many other investment plans along with life insurance. There are many such schemes of LIC, which are very popular among the people. Also, it brings new schemes for investors from time to time. Due to this, its popularity always remains at its peak among the people. Most people find it safe to invest their money here. Jeevan Azad Plan (LIC Jeevan Azad Plan) is one such scheme, whose craze remains intact among the people. This plan has become people's favorite since its launch.

What is LIC Jeevan Azad Plan-

LIC had brought this plan last year in January 2023. Its main motive was that people could get the benefit of savings along with security. This is a non-participating, non-linked, individual plan. Investment in this scheme has to be made for a period of 15 to 20 years. The minimum sum assured amount in Jeevan Azad Plan is Rs 2 lakh, whereas LIC has kept the maximum sum assured under this plan at Rs 5 lakh. To the buyer of this policy or the holder of this policy, at the time of maturity, the amount fixed by the insurance company at the time of purchasing the policy, will be paid in full to the holder. According to LIC, for those who are 8 years of age and above, the risk will commence from the date of acceptance i.e. the date of issue of the policy. According to the document that LIC has released on its website for information about Jeevan Azad Plan, only those whose age has completed at least 90 days and the maximum age is 50 years can become the holder of Jeevan Azad Plan. The minimum age of the policy holder for maturity should be 18 years. The maximum age limit has been kept at 70 years.

Multiple options for payment

LIC has kept four types of plans for depositing the installment for Jeevan Azad Plan. The first is monthly, in which the minimum installment amount is Rs 5000. The minimum quarterly installment amount is Rs 15000. Similarly, there are two more plans, half yearly and annual, in which the minimum installment amount is Rs 25000 and Rs 50000.