How can I change my LIC policy tenure?
How can I change my LIC policy tenure?
How to apply for alterations
- A written request for the alteration required along with the reason for change.
- An appropriate application form.
- Quotation fee for the alteration required.
- Original policy document provided at the time of policy issue.
- Health declaration.
Is Jeevan Labh a guaranteed plan?
LIC Jeevan Labh Plan acquires a surrender value if the premiums are paid for three full policy years and the policy stays in effect for these 3 years. Here’s what paid out as the surrender value: Guaranteed Surrender Value: The guaranteed surrender value is equal to the percentage of the total premium payments.
What is the maturity amount of LIC Jeevan Labh?
Jeevan Labh (836) with an Example
| Maturity Year | Age at Maturity | Maturity Amount (Approx.) |
|---|---|---|
| 2041 | 54 | 3240000 |
Is Jeevan Labh taxable?
Yes, the premiums paid towards LIC’s Jeevan Labh policy are exempted from income tax under Section 80C of the Income Tax Act, 1961. Besides, the maturity amount receivable is also tax free under Section 10(10D) of the Income Tax Act, 1961.
Is there any LIC policy for 16 years?
The LIC Jeevan Labh policy can be purchased any individual in the age group of 8-59 years if the policy term is for 16 years. The minimum sum assured for LIC’s Jeevan Labh policy is ₹ 2 lakh and there is no maximum limit for the quantum of sum assured, according to the LIC website.
Can I take loan on Jeevan Labh?
Key Features of LIC Jeevan Labh Loans can be availed against this policy. Loans are available provided if at least 3 full years’ premiums have been paid and the policy has acquired a Surrender Value.
Is LIC a government job?
LIC ADO known as LIC Assistant Administrative Officer is a field job in Insurance sector. LIC(Life Insurance Corporation of India) conducts an exam namely LIC ADO to fill in the vacant posts for ADO in their offices. It is a government job with a healthy salary package of nearly Rs 45,000/- per month.