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Monday, October 25, 2021

LIC launches new savings plan Bachat Plus, policy up to Rs 1 lakh; Learn details

LIC Bachat Plus: Life Insurance Corporation of India (LIC) said on Monday that it has introduced the new plan Savings Plus. It also has the facility of saving along with security. The company said that the maturity period of the scheme is five years. This policy provides financial support to the next of kin of the policyholder in case of death during the policy period before the maturity period.

Scheme Features

The company said that at the same time, if the policy holder is alive at the time of maturity, then he provides a lump sum. In this, the option to choose the sum assured at death is available for both single premium and limited premium payment methods. If the policyholder dies after the completion of the policy, but before the scheduled maturity date, then the death will be paid along with the Sum Assured Loyalty Addition.

In this, a policy of minimum one lakh rupees can be taken. There is no limit on the maximum amount. Policyholders can also take loans if needed in this scheme. High Basic Sum Assured Rebate is offered for both mediums of premium payments.

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Last month introduced Bima Jyoti plan

LIC introduced a new policy in the name of Bima Jyoti last month. Under this policy, the insured gets a guaranteed increase every year. LIC introduced it with the tagline ‘Guaranteed your bright future’. It is a non-linked, non-participating, individual savings plan. This policy can be purchased through the offline LIC agent or online through the 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.

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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