LIC unveils protection-cum-savings plan


LIC of India has introduced Bima Jyoti, a non-linked, non-participating, individual savings plan which offers a combination of protection and savings.

โ€œThe plan provides a guaranteed lump sum payment at maturity and financial support to the family in case of unfortunate death of the policyholder during policy term. It can be purchased Offline through agent /other intermediaries as well as Online directly through the website,โ€ LIC said in a statement.

The policy provides guaranteed additions at the rate of โ‚น50 per thousand and basic sum will be added to the policy at the end of each policy year.

The minimum basic sum assured is โ‚น1 lakh with no upper limit. The policy can be taken for term of 15 to 20 years with premium paying term calculated as Policy term minus 5 years.

The minimum age at entry is 90 days completed and maximum age at entry is 60 years.

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