New Delhi: The Life Insurance Corporation of India (LIC) Bima Jyoti is a non-linked, non-participating, individual savings plan. This plan is available for purchase both offline through a LIC agent or other intermediaries, as well as online directly through the website www.licindia.in.
Under this scheme, a one-time payment will be provided upon maturity. Additionally, financial support will be extended to the family members in the event of the policyholder’s demise. Furthermore, an additional Rs 50 per thousand rupees will be added to the basic sum assured at the end of each policy year.
Bima Jyoti guarantees a lump sum payment at maturity and offers financial assistance to the family in the unfortunate event of the policyholder’s death during the policy term. This plan can be purchased offline through the website www.lic.in
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LIC Bima Jyoti: Age Limits
The minimum age for entry permitted is 90 days (completed), while the maximum age for entry maybe 60 years (nearest birthday). The minimum age at maturity will be 18 years (completed), and the maximum age at maturity will be 75 years (nearest birthday).
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LIC Bima Jyoti Key Features:
LIC Bima Jyoti is a non-linked, non-participating, individual, limited premium payment life insurance savings plan. This plan offers Guaranteed Additions accruing at the rate of Rs. 50 per thousand of the Basic Sum Assured at the end of each policy year throughout the policy term. The minimum sum assured is Rs. 1 lakh, with multiples of Rs. 25,000 after that, and there is no upper limit.
Additionally, besides offering an attractive rate of return, LIC Bima Jyoti also provides life cover. Premiums can be paid regularly at yearly, half-yearly, quarterly, or monthly intervals, or through salary deductions.
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LIC Bima Jyoti: Premium Paying Term (PPT)
The Policy Term of the plan varies from 15 to 20 years and the Premium Paying Term (PPT) will be 5 years less than the respective Policy terms. For a 15-year policy term, the premium paying term will be 10 years and for a 16-year policy, the PPT will be 11 years, and so on.
