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Maturity proceeds of endowment plans with aggregate annual premiums of less than Rs. 5 lakh are tax-free, but returns of 4-6 percent per annum, a long lock-in period and recurring premium commitments blunt the tax edge over debt mutual funds
LIC's Jeevan Azad Policy sees 50k sales in 10-15 days. Non-participating savings plan with premium pay term 8 years less than policy term.
NL CORRESSPONDENT Mumbai: Life Insurance Corporation of India introduced a new plan LIC’s Jeevan Azad. This is a Non-Participating, Individual, Savings Life Insurance Plan which offers an attractive combination of protection and savings. This is a Limited Premium Payment Endowment Plan which provides financial support for the family in case of unfortunate death of the
Under the LIC Jeevan Azad Plan, the lowest basic sum assured is Rs. 2 lakh, while the highest basic sum assured is Rs. 5 lakh.
