csc's new micro insurance

 


LIC’s Micro Insurance Plans are not plans but opportunities that knock on your door once in a lifetime. These plans are a perfect blend of insurance, investment and a lifetime of happiness!.

          1. LIC’s BHAGYA LAKSHMI PLAN – MICRO INSURANCE PRODUCT

LIC’s Bhagya Lakshmi is a limited premium paying, Non-linked, Non-participating Individual, Life, Micro Insurance, savings plan with return of 110% of total amount of premiums payable on maturity.

1. Benefits :

a. Maturity Benefit: On Life Assured surviving to the end of policy term, , “Sum Assured on Maturity” equal to 110% of total amount of premiums payable during the term of the contract shall be payable provided all due premiums have been paid. The premium referred above shall not include any taxes and extra premium, if any. 

b. Death Benefit:

On Life Assured's death before the stipulated Date of Maturity, provided the policy is in-force by paying up-to-date premiums, “Sum Assured on Death” shall be payable; where “Sum Assured on Death” is defined as highest of 7 times of annualised premium or 105% of total premiums paid upto the date of death or Sum Assured. The premium referred above shall not include any taxes and extra premium, if any.


                   2.LIC’s New JEEVAN MANGAL PLAN – MICRO INSURANCE PRODUCT

1. Introduction:
LIC’s New Jeevan Mangal is a protection plan with return of premiums on maturity, where you may pay the premiums either in lump sum or regularly over the term of the policy. This plan has an in-built Accident Benefit which provides for double risk cover in case of accidental death.
1. Benefits:
a. Maturity Benefit:
On Life Assured surviving to the date of maturity, “Sum Assured on Maturity” equal to the total amount of premiums paid during the term of the contract shall be payable provided all due premiums have been paid. The premium referred above shall not include any taxes and extra premium, if any.

b. Death Benefit: 

Provided the policy is in-force, the death benefit shall be payable as under:- 
Death due to any reason other than accident: For regular premium policies: “Sum Assured on Death” shall be payable which is defined as highest of 7 times of annualised premium or 105% of total premiums paid upto the date of death or Sum assured.

 For single premium policies: “Sum Assured on Death” shall be payable which is defined as higher of 125% of single premium or Sum Assured. 

The premium referred above shall not include any taxes and extra premium, 
if any. Death due to accident: An additional sum equal to Sum Assured shall be payable provided the policy is in force at the time of death.

                               

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