highlights
LIC is the largest insurance company in the country.
The company recently announced its quarterly results.
LIC has made bumper profits in the December quarter.
New Delhi. The country’s largest insurance company LIC had recently launched a policy named Jeevan Azad Policy. This is a saving life insurance plan. In this, you are informed about the lump-sum amount at the time of purchasing the policy and the minimum amount is given on maturity. This is the basic sum assured amount. It is minimum Rs 2 lakh and maximum Rs 5 lakh.
However, there is one unique thing about this policy which makes it different from the rest. In this, you have to pay premium for 8 years less than maturity. Suppose you have bought a policy for 18 years, then you will have to pay premium only for 10 years. In this policy, you get a minimum sum assured of Rs 2 lakh. At the same time, the maximum amount can go up to Rs 5 lakh. You can buy this policy for 15-20 years.
read this also- If money is deposited in EPFO, then definitely settle this work on time, if you delay too much, there will be trouble
How much return will you get
If you start putting Rs 12,083 per year in this policy from the age of 28, then if your plan is 18 years old, then you will get a sum assured of Rs 2 lakh on maturity. In this you will get 4-5 percent interest. In this policy, the basic sum assured or 7 times of the annualized premium is available as a death benefit. In this, it is ensured that the amount to be paid is not less than 105% of the premium deposited on the date of death.
50,000 in 15 days
LIC Chairman MR Kumar has said that since its launch, 50,000 policies were sold in just 10-15 days. Please tell that it was started in January 2023. Kumar has said that the company is focusing on portfolio mix to provide better facilities to its customers. He told during the press conference that the company has made a profit of Rs 6334 crore in the December quarter, which was Rs 235 crore in the same period last year. The reason for the sharp jump in profit is the transfer of Rs 5670 crore from LIC’s non-participating fund to the shareholders. The company’s net income from premium also increased from Rs 97,620 crore to Rs 1.1 lakh crore.
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Tags: business news, Insurance, Insurance Policy, Life Insurance Corporation of India (LIC)
FIRST PUBLISHED : February 11, 2023, 13:03 IST
