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LIC Bhagya Lakshmi Plan: Life Insurance Corporation of India is the largest and oldest insurance company in the country. Nowadays, many new insurance companies have come in the market, but even today, a large population of the country prefers to invest in LIC’s insurance policy. LIC’s insurance plans are for all the people of the country i.e. rich, middle class and low income group. If you come from a lower income group and are planning to buy an insurance policy, then an endowment plan is a great scheme. The name of this scheme is LIC Bhagya Lakshmi Plan. This insurance policy is designed for the people of low income group. By making a small investment in this policy, you can add a substantial amount.
What is LIC Bhagyalakshmi Plan?
LIC LIC Bhagyalakshmi Plan is a Non Linked, Individual Life Micro Insurance, Term Plan. You get 110% return on maturity by investing in this plan. You can buy this insurance plan for different time periods. Let us give you information about the details of LIC’s Bhagya Lakshmi plan.
Special Features of LIC Bhagyalakshmi Plan-
- Minimum Sum Assured of the scheme – Rs 50,000
- Maximum Sum Assured of the scheme – Rs.2,00,000
- The age of purchase of the plan – 8 years to 42 years of age
- Minimum period of premium payment – 5 years
- Maximum period for paying premium – 13 years
- Policy Term – Premium Payment Term + 2 Years
- Maximum maturity age of this plan – 65 years
How much premium will have to be paid in LIC Bhagyalakshmi plan-
Let us tell you that if a person wants to buy LIC Bhagyalakshmi plan for 15 years at the age of 20 years, then in such a situation he will have to pay a premium of up to 13 years. If your Sum Assured is Rs 2 lakh, then Rs 37.20 will have to be paid as premium for every Rs 1,000. In this case, your annual premium will be Rs 7,440. In such a situation, you will have to spend only 21 rupees in a day. You will get full return of Rs 2 lakh on maturity after 15 years which will be around 110% of the amount invested.
Mode of paying premium
Let us tell you that you can buy LIC Bhagyalakshmi plan online. Apart from this, you can buy the policy by visiting any LIC branch near your home. If you do not like the policy after purchasing it, then you can surrender it after paying a premium. Along with this, you can pay the premium on month, three months, 6 months or yearly basis.
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