What is LIC Micro plan?
What is LIC Micro plan?
LIC Micro Bachat Insurance. As the name suggests ‘micro bachat’ meaning ‘small savings’, this plan is designed to provide financial support to the family in case of unfortunate death of the policyholder. If the policyholder survives the policy tenure, a lump sum amount at the time of maturity is payable.
Who can take Jeevan Amar policy?
Eligibility for LIC Jeevan Amar Plan
| Parameters | Details |
|---|---|
| Premium Paying Mode | Quarterly, Monthly, Half Yearly and Yearly |
| Entry Age | Min – 18 years (last birthday) Max – 65 years (last birthday) |
| Maturity Age | 80 years (last birthday) |
| Grace Period | 30 Days |
Which LIC plan is best for child?
The premium under the LIC child plan is to be paid for a limited term only….LIC Jeevan Tarun.
| Minimum | Maximum | |
|---|---|---|
| Policy Term | 25 years – the entry age of the child | |
| Sum Assured | Rs.1 lakh | No limit |
| Annual Premium Amount | Rs.24, 000 | No limit |
| Premium Payment Term | 10 years, 5 years or (term – 5) years |
What are the benefits of Jeevan Anand policy?
Death Benefit: In a case of the death of the insured, the assured sum is paid to his entitled nominee. Added top up covers as riders available on payment of a nominal premium amount. The plan also offers tax exemption on the premium paid and claim settlement under section 80C and 10(10D) of Income Tax Act.
Which is the best LIC Jeevan Madhur plan?
The Jeevan Madhur Plan from Life Insurance Corporation of India (LIC) is a life insurance policy that offers customers both savings and protection features. Under this policy, the policyholder may choose to pay the due premium in weekly, fortnightly, monthly, quarterly, half-yearly, or yearly instalments.
Which is the best life insurance company for Jeevan Madhur?
The Jeevan Madhur Plan from LIC offers policyholders a comprehensive life cover, in addition to bonuses and optional rider benefits that are payable along with the plan benefits. LIC, which is one of the stalwarts of the industry, is one of the most preferred life insurance companies within the company.
What is the maximum sum assured in LIC micro insurance plan?
The minimum premium paying term is 5 years and the maximum is 13 years. The minimum sum assured is Rs.20,000 and the maximum is Rs.50,000. On surviving to the date of maturity, sum assured is payable which is 110% of the total amount of premiums paid during the term of the contract.
What kind of insurance is offered by LIC?
Micro Insurance Plans offered by LIC are a perfect fit of insurance and investment. The Micro Insurance plans offered by LIC are as follows: This is a protection plan that of premium at maturity.