The Life Insurance Corporation of India (LIC) is set to launch two new schemes, LIC’s Jan Suraksha and LIC’s Bima Lakshmi, starting tomorrow. These schemes aim to provide financial security and protection to individuals and their families. Here are the details of the two schemes:
LIC’s Jan Suraksha
LIC’s Jan Suraksha is a micro-insurance plan that offers a sum assured of up to ₹50,000. The plan is designed for individuals who are not covered under any other life insurance policy. The scheme provides a death benefit to the nominee in the event of the policyholder’s death. The plan has a minimum entry age of 18 years and a maximum entry age of 50 years.
The premium for LIC’s Jan Suraksha is affordable, with a minimum annual premium of ₹100. The plan also offers a free look period of 15 days, during which the policyholder can return the policy if they are not satisfied with the terms and conditions.
LIC’s Bima Lakshmi
LIC’s Bima Lakshmi is a money-back plan that offers a combination of protection and savings. The plan provides a lump sum benefit to the policyholder on the death of the child, as well as a survival benefit paid at regular intervals. The plan is designed for parents who want to secure their child’s financial future.
The plan offers a sum assured of up to ₹1 lakh, with a minimum entry age of 0 years (for children) and a maximum entry age of 12 years. The premium payment term is limited to 5-10 years, with a maximum maturity age of 25 years.
The key benefits of LIC’s Bima Lakshmi include a money-back benefit of 20% of the sum assured at the end of the 5th, 10th, and 15th policy years, as well as a maturity benefit of 40% of the sum assured at the end of the policy term.
Key Features
Both schemes offer a range of benefits and features, including:
- Affordable premiums
- Flexible payment options
- Free look period
- Tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961
- Option to take a loan against the policy
- Rider options, such as accidental death and disability benefit rider
Overall, LIC’s Jan Suraksha and LIC’s Bima Lakshmi are designed to provide financial security and protection to individuals and their families. The schemes offer a range of benefits and features, making them an attractive option for those looking to invest in a life insurance policy. With their launch tomorrow, individuals can visit the LIC website or visit a nearby branch to learn more and purchase the policies.