By Samachar Digital News
Chandigarh Feb. 22,
2021:- Life Insurance Corporation of India has
introduced LIC’s Bima Jyoti a Non-Linked,
Non-Participating, Individual, Savings Plan which offers an attractive
combination of protection and savings.
This plan provides guaranteed lumpsum payment at maturity and financial
support to the family in case of unfortunate death of the policyholder during
policy term. It can be purchased
Offline through agent /other intermediaries as well as Online directly through
website www.licindia.in
Guaranteed Additions at the rate of Rs. 50 per thousand Basic Sum
Assured will be added to the policy at the end of each policy year.
On death during the policy term
after the date of commencement of risk, “Sum
Assured on Death” and Accrued Guaranteed Additions as per policy conditions is
payable. On Life Assured
surviving the stipulated Date of Maturity provided the policy is in-force, “Sum
Assured on Maturity” along with Guaranteed Additions, shall be payable. The plan also provides an option to receive death/maturity benefits in
instalments subject to certain conditions.
The
Minimum Basic Sum Assured is Rs 1,00, 000/- with no upper limit. The Policy can
be taken for term of 15 to 20 years with premium paying term calculated as
Policy term minus 5 years. The minimum age at entry is 90 days completed and
maximum age at entry is 60 yrs.
Premiums can
be paid regularly at yearly, half-yearly, quarterly or monthly intervals
(monthly premiums through NACH only) or through salary deductions. Loan
facility is also available to meet liquidity needs.
In current
scenario of rapidly declining interest rates, the guaranteed additions offered
along with risk cover is an attractive feature in LIC’s BIMA JYOTI.
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