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Wednesday, October 27, 2021

LIC Bima Jyoti: Guarantee of annual return on investment, what is the specialty of LIC’s new policy ‘Bima Jyoti’

LIC Bima Jyoti: The country’s largest life insurance company Life Insurance Corporation of India (LIC) has introduced a new policy in the name of Bima Jyoti. Under this policy, the insured will get guaranteed increase every year. LIC has introduced it with the tagline ‘Guaranteed your bright future’. It is a non-linked, non-participating, individual savings plan. At a time when the interest rates on investment are decreasing. Every year Guaranteed increase on Insurance Jyoti with Risk Cover by LIC is a great attraction.

This policy can be purchased offline through LIC agent or online through LIC website. Basic Sum Assured is one lakh rupees, that is, you can take a policy of minimum one lakh rupees. The maximum sum assured of the policy has not been fixed.

Also read- Want to earn from IPO market, how to choose the best issue for investment

Specials of LIC Bima Jyoti

  • One can buy the policy both online and offline.
  • Minimum age of policy holder is 90 days and maximum 60 years.
  • Sum Assured- Minimum 1 lakh rupees. There is no limit on the maximum sum assured.
  • Policy Term- 15 years to 20 years.
  • Premium Payment Term- 5 years less than the policy term, ie if the policy term is 20 years, then the premium will have to be paid for 10 years.
  • Annual guaranteed return Every year you will get a guaranteed return of Rs 50 per thousand. This will be added to the current policy at the end of each policy year till maturity / death.
  • Premium can be paid on an annual, half-yearly, quarterly or monthly basis. Monthly premium can be paid only through NACH (National Automated Clearing House) or through salary deduction.
  • Loan facility is also available.
Nisha Chawlahttps://www.businesskhabar.com/
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
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