Kindly consider the below points before investing in LIC’s latest plan – Bachat Plus plan Eligibility Conditions under LIC Bachat Plus Policyīelow are the basic eligibility conditions of Bachat Plus Plan Minimum Sum Assuredġ0 – 16 yrs for 41 to 44 yrs age under Option Aĩ0 days for Option 1 & 40 yrs for Option 2Ħ0 yrs for Option 1 & 65 yrs for Option 2ħ5 yrs for Option 1 & 80 yrs for Option 2 Sum Assured on Death+Loyalty Addition is payable to the nominee/beneficiary. If death occurs after the commencement of risk, then LIC will pay the nominee Sum Assured on Death.ī) Death after 5 years but before the maturity. If death occurs before the commencement of risk, LIC will refund the premium without any interest. The Death benefit that is payable under this policy is as below:. The Policyholder can opt for death benefit payment as lump-sum payment (or) installments for 5 yrs, 10 years or 15 years. The benefits are presented in the below table The quantum of premium and benefits will vary based on the option you choose here. Here, the sum assured on death benefits is dependent on the type of Premium payment modes i.e., Single premium or Limited Premium.
Death Benefit under Bachat Plus Plan no 861 :.The maturity benefits can be received lump-sum (or) in installments of 5 yrs, 10 years or 15 years. ( Related article : What is Bonus or Loyalty Addition in LIC Policy?) Kindly note that LA is not payable if you convert your policy to paid up. Here, sum assured at maturity means basic sum assured. If the Life Assured survives till the maturity of the policy, he/she will receive Sum Assured at maturity and Loyalty Addition (LA) is payable. Related Article : Different types of Traditional Life Insurance Plans | Which one should you buy? Benefits under LIC Bachat Plus Planīelow are the maturity and death benefits under Bachat Plus Policy If you are unsure on which type of life insurance policy to buy, kindly go through the below article
This new plan is available for sale through online as well as offline modes, for a maximum period of 180 days from the launch date. Under this plan, the premium can be paid either as Lumpsum (Single Premium) or as Limited Premium with a Premium Payment Term of 5 years. The Policy shall participate in the profits in the form of Loyalty Additions.