LIC Micro Insurance Plans Info : LIC's Bhagya Lakshmi Plan - InsuranceRise

Monday, 11 January 2016

LIC Micro Insurance Plans Info : LIC's Bhagya Lakshmi Plan



LIC’s Bhagya Lakshmi is a non-par limited payment protection oriented plan with return of 110% of total amount of premiums payable on maturity where the premium paying term is 2 years lesser than the policy term.

LIC Micro Insurance Plans Info : LIC's Bhagya Lakshmi Plan

  1. Benefits :
  1. Maturity Benefit:
      Provided the policy is inforce, on surviving to the date of maturity, “Sum Assured on Maturity” shall be payable which is equal to 110% of total amount of premiums payable during the term of the contract (excluding taxes and extra premium, if any)
  1. Death Benefit:
On Life Assured's death before the stipulated Date of Maturity, provided the policy is in full force by paying up-to-date premiums,  “Sum Assured on Death” equal to Sum Assured under the policy shall be payable.

Eligibility Conditions and Other Restrictions:
  • Minimum Sum Assured                  : Rs. 20,000/-
  • Maximum Sum Assured                 : Rs. 50,000/-
(The Sum Assured shall be in multiples of Rs. 1,000/-)
  • Minimum age at entry                     : 18 years (completed)
  • Maximum age at entry                    : 55 years (nearest birthday)
  • Minimum Premium Paying Term   : 5 years
  • Maximum Premium Paying Term  : 13 years
  • Policy Term                                     : Premium Paying Term + 2 years
  • Maximum age at maturity               : 65 years (nearest birthday)
  • Payment of Premiums:
The modes of premium payment allowable are yearly, half-yearly, quarterly, monthly or through salary deductions.
However, a grace period of two calendar months but not less than 60 days will be allowed for all modes of payments.

more info please visit licindia

Previous Post
Next Post

0 comments: