Invest Rs 200 daily in this wonderful scheme, you will get lump sum amount of Rs 28 lakh, know complete details here

Life Insurance Corporation of India (LIC), the country's largest insurance company, has many types of policies. Apart from this, it also keeps launching new policies from time to time. Some policies of LIC are quite popular among the people. One such policy is Jeevan Azad Yojana. When this policy was launched it received an overwhelming response from the public and 50,000 policies were sold in less than a month. Let us know what are the features of this policy.

Non-linked policy

LIC's Jeevan Azad policy is a non-linked, non-participating, individual, savings life insurance plan. The policyholder gets the facility of life insurance till maturity and like an endowment plan, he will also get a fixed amount on the maturity of the scheme. Jeevan Azad Policy is a limited plan, under which the premium payment term of the plan is equal to zero to 8 years. This means that you do not have to pay a fixed premium all the time.

Premium has to be paid in less than 8 years

Let us understand it in simple language. Suppose you take Jeevan Azad policy for 20 years. But instead of 20 years, you will have to pay the premium only for 12 years. Similarly, for an 18 year old policy, premium will have to be paid for 10 years. To pay premium in this plan of LIC, you get the option to pay monthly, quarterly, half-yearly and annually.

maximum sum insured

This plan of LIC can be purchased for a period of 15 to 20 years. Through this scheme, the policyholder will get a guaranteed lump sum amount on maturity. The minimum sum assured in Jeevan Azad policy is Rs 2 lakh and the maximum sum assured is Rs 5 lakh. The entire amount is paid to the policyholder who survives till maturity. Suppose a 30-year-old person takes this plan for 18 years, then for a sum assured of Rs 2 lakh, he will have to deposit only Rs 12,038 for 10 years.