If you are looking for a good return on your investment, then a plan from Life Insurance Corporation of India (LIC) can give you double benefits. You will get many benefits of this plan. Along with this, you will get a lot in terms of security as well. If you invest in this plan, then you can also get a decent amount of savings.
This is an insurance cum investment plan of LIC, in which you will get two plans. Under this policy, you will get insurance cover, savings benefit, your protection and loan. If any untoward incident happens to the policy holder in future, then no further premium will be required to be paid under this plan. Apart from this, the entire value of premium that will be generated will be fully refunded to the nominee. You can also buy this special plan of LIC online. Let us know about more important things of this policy –
You can choose the Basic Sum Assured while buying this LIC Bachat Pulse policy. Apart from this, you can choose to pay it as a single premium or pay a limited premium for 5 years. After doing this, you have to select the Death Sum Assured on the basis of your premium payment option.
You will be given a choice of 10 or 1.25 times for a single premium. On the other hand, on a limited premium plan of 5 years, it will be 10 or 7 times. There are many other benefits also in this policy. If you die between the first 5 policy years, all premiums paid by you will be returned to the nominee.
If you have opted for the single premium plan of this policy, then you can take the loan after about 3 months from the date of commencement of the policy. However, the loan amount can be only up to 90 percent of the surrender value. On the other hand, under a limited premium plan, you can take the loan after 2 years from the date of commencement of the policy. This too can be only 90 percent of the surrender value of the loan.
