LIC Scheme: LIC offers a variety of investment and insurance options to its customers, which include insurance plans, pension plans, health plans and unit linked plans.
LIC Scheme: Life Insurance Corporation of India is the largest insurance company in the country and even today people of the country take LIC policy for a happy future for themselves and their families. LIC offers a variety of investment and insurance options to its customers, which include insurance plans, pension plans, health plans and unit linked plans. Today we are going to tell you about such a scheme of LIC, by investing in which you get Sum Assured up to Rs 22 lakh. This scheme is wealth accumulation. In this scheme, customers get guaranteed returns and also get many benefits. Here you can get all the details related to the policy.
LIC Wealth Savings Scheme
This is a non linked, non participating, individual, savings, life insurance plan. This plan gives your family the benefit of both protection and savings. If the policyholder dies during the policy term, then this company provides financial assistance to the family.
Benefits are available in 4 plan options
Under this plan, two options are given to the customers. First – Option A and second – Option B. Level income benefit in option A and increasing income benefit in option B are available. Apart from this, in the case of single premium payment, two more options are available. Option C includes single premium level income benefit and option D includes single premium enhanced cover with level income benefit.
How to get the benefit of this plan
One should be 3 years old to invest here. The maximum age for option A and B is 50 years and for option C the maximum age is 65 years and for option C is 40 years. Apart from this, the minimum maturity age is 18 years.
What is the premium for option A and B
The minimum premium amount for option A and B is Rs.30000 and for option C and D the premium amount is Rs.2 lakh. However, there is no limit on the maximum premium. Apart from this, the amount of Sum Assured on Death for Option A and Option B is Rs.3,30,000. The sum assured amount for option C is Rs 2,50,000 and for option D the amount is Rs 22 lakh.
Guaranteed returns are available on the plan
Guaranteed income returns under this plan will be payable in advance. The period from the date of maturity i.e. the first installment of Guaranteed Income Benefit will be made on the basis of the benefit on and after the date of maturity. The payout mode chosen by the policyholder will be every month or three months or six months or annually from the date of maturity, as the case may be.
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