LIC New Coverage LIC Jeevan Utsav Coverage Particulars In Telugu Life Lengthy Revenue Loss of life Advantages In LIC Jeevan Utsav Coverage

LIC Jeevan Utsav Coverage Particulars in Telugu: Public sector life insurance coverage firm LIC (LIC), has just lately launched a brand new coverage to the general public. The title of that coverage is ‘Jeevan Utsav’. This plan is exclusive in that it provides life-long assured returns together with financial savings + life insurance coverage. That is Plan No 871 (LIC Plan No 871).

LIC launched Jeevan Utsav Coverage on twenty ninth November 2023. It is a new plan that gives non-linked, non-participating, particular person, financial savings, lifetime insurance coverage protection. If this coverage is bought, there’s a sure ready interval after the premium fee interval is over. Thereafter, 10 p.c of the sum assured is paid yearly to the policyholder. So.. the earnings will proceed to come back all through the lifetime of the policyholder. With that cash, you possibly can stay comfortably with out relying on anybody financially.

The place to purchase the coverage?
LIC Jeevan Utsav coverage may be bought by means of LIC agent or on-line.

Eligibility to take coverage?
Infants, youths, senior residents, men and women can take LIC Jeevan Utsav coverage. It’s sufficient if the age of the client isn’t lower than 90 days – no more than 65 years on the time of taking the coverage. Beneath this scheme.. Premium needs to be paid for 5-16 years. After that there’s some ready interval.

If choosing 5 years premium tenure, then wait for an additional 5 years. If 6 years interval is chosen then there might be 4 years ready interval. If the 7 12 months fee possibility is taken then the ready interval might be one other 3 years. In case you select 8-16 years then it’s important to wait one other 2 years.

LIC will reimburse you on the fee of 10% every year of the coverage quantity from the top of the ready interval. So.. it pays so long as the coverage holder is alive. Beneath this scheme, the traders should take a minimal sum assured of Rs.5 lakh. Any most quantity may be chosen.

After taking the coverage… you possibly can pay the premium as soon as a month, each three months, each six months, annually. LIC additionally deposits assured additions on the fee of 40 rupees for each 1000 rupees paid by the policyholder throughout the coverage fee interval.

Cycle curiosity profit
There are two choices to get lifetime earnings beneath Jeevan Utsav scheme. They’re.. Common Revenue, Flexi Revenue. Select one in every of these two choices. Common earnings possibility returns 10% every year for lifetime. If the flexi earnings possibility is chosen, the annual fee will stay with LIC, incomes 5.5 p.c compound curiosity. If desired, 75% of the deposited quantity may be withdrawn. The remaining quantity earns compound curiosity.

Loss of life Advantages (LIC Jeevan Utsav Loss of life Profit)
If the coverage holder dies.. LIC can pay dying advantages together with assured additions. Loss of life insurance coverage cash or 7 occasions the annual premium, whichever is increased, might be given to the nominee.

Mortgage facility can be obtainable on Jeevan Utsav coverage. Mortgage may be availed at any time after graduation of premium fee. The curiosity paid by the policyholder on the mortgage shouldn’t exceed 50% of the common earnings.

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