Jeevan Azad policy is a savings based life insurance policy. which pays the investor a lump sum on maturity. In this policy a customer has to pay premium up to 8 years before maturity. That is, if a person opts for a policy term of 18 years, he has to arrange to pay the premium for 10 years. A person can take this premium for a term of 15 to 20 years. In this case the minimum assured amount is Tk 2 lakh and the maximum assured amount will be Tk 5 lakh.
How much money can be returned?
If a person starts depositing Rs 12,083 per annum in this policy from the age of 28, he will get Rs 2 lakh after 18 years. In this the customer will get 4 to 5 percent interest. In this policy, 7 times the annual premium is refunded on the death of the policyholder. It ensures that the nominee gets at least 105 percent of the total sum paid on the death of the policyholder.
50,000 subscribers in 15 days
LIC Chairman MR Kumar said that 50 thousand policies have already been sold in just 10-15 days since the policy launch. The LIC chairman said that the company is focusing on portfolio mix to provide more benefits to customers. In a press conference, he said, the company made a profit of Rs 6334 crore at the end of the December quarter. Which was Rs 235 crore in the same period last year. Besides, the company’s net income from premiums also increased from Tk 97,620 crore to Tk 1.1 lakh crore.