lic bhagya laxmi plan

LIC Bhagya Lakshmi Plan

LIC Bhagya Lakshmi Plan is a limited premium paying, Non-linked, Nonparticipating Individual, Life, Micro Insurance, term plan. The plan offers a return of 110% of the total amount of premiums payable on maturity.

Features Of LIC Bhagya Laxmi Plan

Features of LIC Bhagya Lakshmi Plan are as follows-

  1. This is a term plan. In this, you are provided with the benefit of life cover.
  2. This plan comes with 110% premium return option.
  3. In this, the minimum insurance amount is 50 thousand and maximum 2 lakh.
  4. Benefit is available as per Indian Income Tax rules.

LIC Bhagya Laxmi Plan Benefits

LIC Bhagya Lakshmi Plan Benefit is as follows-

  1. Maturity Benefit:

In LIC Bhagya Lakshmi Plan, maturity benefit is given if the life assured survives till the end of the policy term. This maturity benefit equal to 110% of the total amount of premiums payable is payable.

  1. Death Benefit:

In case of death of the life assured before the stipulated date of maturity in LIC Bhagya Lakshmi Plan, “Sum Assured on Death” will be payable.

Where “Sum Assured on Death” means higher of 7 times of Annualized Premium or 105% of total premiums paid till the date of death or Sum Assured.

lic bhagya laxmi plan

LIC Bhagya Laxmi Plan Eligibility

LIC Bhagya Lakshmi Plan Eligibility  is as follows-

Age at entryMinimum: 8 years Maximum: 42 years  
Maximum age at maturity65 years  
Policy TermPremium Paying Term + 2 years  
Sum AssuredMinimum: Rs. 50,000/- Maximum: Rs. 2,00,000/-

LIC Bhagya Laxmi Plan Premium

LIC Bhagya Lakshmi Plan Premium  is as follows-

Minimum Premium Paying Term  5 years
Maximum Premium Paying Term  13 years
Minimum Instalment PremiumRs. 500  
Premium Paying Modeyearly, half-yearly, quarterly or monthly

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