Good News for LIC Policy Holders, LIC has launched two new schemes
LIC New Scheme: If you are searching for a scheme that gives you financial security and an opportunity for long-term service, Life Insurance Corporation of India has launched two new schemes for you. India’s trustworthy insurance company has launched two schemes, ‘LIC protection plus’ and ‘LIC bima kavach’. In this policy holder will benefit from the extensive coverage, the best return on investment, and up to Rs 2 crore sum assured. According to LIC, both the plans have been designed keeping in mind those people who want a secure future and lasting financial strength.
What is “LIC Protection Plus”: This policy is a unit-linked(ULIP) scheme. For this, your money is linked to the market and gives you the best return as compared to old policies. Its features are-
-Anyone between the ages of 18 and 65 can take it.
-Policy term: 10, 15, 20, or 25 years.
-Premium term: 5, 7, 10, or 15 years.
-Sum assured: 5 to 7 times the annual premium.
-Facility to pay top-up premiums.
-Policyholders have the freedom to choose investment funds.
-Partial withdrawal facility after 5 years.
-Full fund value is received upon maturity.
-In case of death, the sum assured plus fund value is paid to the nominee.
What is LIC Bima Kavach?This is a pure term insurance plan. It does not involve any savings, but provides maximum protection based solely on risk coverage. It is a non-linked, non-participating policy, offering low premiums and high coverage. Features of this plan include:
-Can be taken by people between the ages of 18 and 65.
-Coverage is available up to a maximum age of 100 years.
-Sum Assured – Minimum ₹2 crore.
-Option to choose between a level sum assured or an increasing sum assured.
-Premium payment options – Single, Limited, or Regular.
-Policy term – 10, 15, 20 years, or more.
Who are these two plans for?
-LIC says these schemes are best for those who want to build long-term savings for the future.
-Want to provide significant financial security to their family
-Want to achieve market-linked returns
-Want to get coverage of up to ₹2 crore at a low premium
