If you are looking for such an insurance plan in which you do not have the tension of paying installments again and again and still get protection and fixed returns throughout your life, then LIC has brought a special gift for you. The country’s largest insurance company is starting a new plan named Jeevan Utsav Single Premium from January 12. The biggest feature of this scheme is that in this you have to deposit money only once and after that the benefits will continue for a long period.
In this plan the policyholder will have to pay only a lump sum premium. This means there will be no hassle of paying installments every year or every month. This plan can be very useful for those who feel uncomfortable paying regular premiums or want a stable and secure option after retirement. Once invested, the insurance cover continues and the family gets financial security.
whole life insurance cover
This plan provides whole life coverage, that is, assurance of lifelong protection. If any untoward incident happens to the policyholder at any time, the family gets the fixed sum insured. Also, this is a non-linked plan, so stock market fluctuations have no impact on it. You will get only the return that is fixed. In this way this plan balances both savings and protection.
Double benefit of saving and security
This scheme can be seen not only as an insurance cover but also as a safe savings option. It is suitable for those who want fixed profits with low risk. For those making long-term financial plans, this scheme can be helpful in making the future stable.
Relief for those with closed policies
LIC has also given relief to those customers whose old policy has lapsed. The company’s special revival campaign is running till March 2. During this period, up to 30 percent discount on late fees, up to a maximum of Rs 5,000, is being given on re-activation of non-linked policies. At the same time, late fees are being completely waived off in micro insurance schemes. The condition is that the policy will have to be revived within five years from the date of outstanding premium. This time is a good opportunity for those who want lifelong protection by making a lump sum investment or want to restart their old policy.
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