The country's largest insurance company Life Insurance Corporation of India launched a new plan on Monday. LIC introduced a new savings plan 'Bachat Plus', which provides security along with savings. It is a non-linked, participating, individual savings plan. The company said that the scheme provides financial assistance to the family on the death of the policyholder, with a maturity of 5 years. At the same time, if the policyholder dies before the maturity period, then his family will get financial help. LIC has given information about this policy by tweeting.
According to LIC's tweet, individuals willing to take the Bachat Plus policy can pay a lump sum in single premium or limited premium payment option for up to 5 years. This gives an option to choose 'Some Assured on Death' for single premium and limited premium payment modes.
Minimum Sum Assured of Rs 1 Lakh
How can you buy a policy
This policy can be purchased offline through agents or other intermediaries. Along with this, the policy can also be purchased online through LIC website www.licindia.in.
Special features of 'Savings Plus'
>> The minimum principal amount is 1 lakh rupees and there is no upper limit.
>> Exemption in higher basic insurance amount is offered for both methods of premium payment.
>> This scheme also takes care of the needs of money through its loan facility.
>> The eligibility conditions for the policy term, age at entry, maturity age etc. will be as per the payment of premium and the options chosen by the proposer.
>> In case of High Basic Sum Assured, both modes of premium payment will be exempt.
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