LIC Bhagya Lakshmi Policy: In today’s time, along with earning, everyone also plans to invest. Life Insurance Corporation (LIC), the country’s largest and oldest insurance company, from time to time comes up with different types of plans for the people. If you belong to a small income bracket and are looking to buy an insurance plan for yourself then you can invest in LIC Bhagya Lakshmi policy.
LIC Bhagya Lakshmi policy is a micro insurance plan through which people with low income can also buy LIC policy plan. This policy is a term plan with 110% premium. Along with this, it is a limited premium payment plan in which the investor gets high returns on less investment. If you are planning to invest in this plan, then it is important to know some important things related to this policy. So let’s know about this plan-
Know about LIC Bhagya Lakshmi Policy-
1) While purchasing this policy, investors can choose the payment term to pay the premium amount.
2) This will allow you to choose for yourself how much time you can invest in this policy.
3) Minimum age should be 18 years to take this policy.
4) You can invest in this policy for a minimum of 5 years and a maximum of 13 years.
5) Insurance cover is available in this policy for investment tenure of more than 2 years. For example, if you invest for 13 years, you will get a cover of 15 years.
6) Loan facility is not available on this policy.
This amount will be available on maturity.
If you invest this amount in this policy, you will get the sum insured ranging from Rs 20,000 to a maximum of Rs 50,000. With this you will get 110% amount on maturity. If an insured commits suicide after taking out this policy, you will not get any benefit from this policy. After one year, in case of such an event, the entire amount will be paid to the nominee. In addition, the policyholder can also return the policy if he so desires.
If an insured opts for a 13 year plan at the age of 30 This amount has to be paid, in which case he will get an insurance cover of 15 years. If he opts for a sum assured of Rs 20,000, then he will have to pay a total of Rs 9,823 i.e. Rs 756 per annum and Rs 63 per month. In such a situation, on the death of the person, the family will get Rs 20,000 and on survival, 110 percent of the sum insured will get Rs 10,805.