Policy key features:
This is one of the very
novel plans of LIC. This is a whole life plan which provides annual
survival benefits at the rate of 5.5% of the Sum Assured (Policy Amount)
for the life time after one year from the chosen accumulation period.
Therefore for 5 lacs an amount of Rs. 27,500/- will be returned every year.
Policy can be paid as
regular premiums under Yearly, Half yearly, Quarterly and Monthly. This
policy has a special feature so that the policy paying term can be
reduced to 6 years. Premium can also be paid as single premium .
Note: Accident benefit cannot be availed under single premium
Benefits:
Survival Benefits:
Bonus will be
paid in one lumpsum and at the end of the policy term and after one
year, 5.5% of the Sum Assured will be payable till the 100 years of the
Life Assured. This is the highlight of this plan that can make a
person’s retirement period safe and secured.
Maturity Benefits:
Sum Assured along with
Loyalty Addition, if any will be payable to the policy holder during his
100 years of age.
Death Benefits:
è Sum Assured +vested Bonus is payable in case of death of the Life Assured during policy term (accumulation period).
è Sum Assured + Loyalty Addition, if any, is payable if Life Assured dies any time after policy term.
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