Life Insurance Corporation of India (LIC) recently announced new endowment plan on 4th January which is called name as LIC Jeevan Labh Plan under the Table no. 836.
LIC's Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.
Example If policy term 16 has selected then Policyholder have to paid only 10 years time premium and maturity amount will be paid after the 16 Years of Completion