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-
- This is a term plan. In this, you are provided with the benefit of life cover.
- This plan comes with 110% premium return option.
- In this, the minimum insurance amount is 50 thousand and maximum 2 lakh.
- Benefit is available as per Indian Income Tax rules.
LIC Bhagya Laxmi Plan Benefits
LIC Bhagya Lakshmi Plan Benefit is as follows-
- 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.
- 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.
- Read Also Critical Illness Insurance Policy
LIC Bhagya Laxmi Plan Eligibility
LIC Bhagya Lakshmi Plan Eligibility is as follows-
|Age at entry||Minimum: 8 years Maximum: 42 years|
|Maximum age at maturity||65 years|
|Policy Term||Premium Paying Term + 2 years|
|Sum Assured||Minimum: 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 Premium||Rs. 500|
|Premium Paying Mode||yearly, half-yearly, quarterly or monthly|