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What What is you Life Insurance or LIC of India? And know which is the new policy of Life Insurance Corporation of India 2021? If not, then today we will introduce you to this information for you.

Hello friends, everyone will remember one thing about LIC “LIC Jeevan Saath Bhi Jeevan Ke Baat Bhi”. LIC is one of the most respected reputed institutions in India. LIC has been serving various insurance since last six decades and today is the most reputed insurance company in India.

What is Life Insurance or LIC of India? And which is the new policy 2021 of Life Insurance Corporation of India and which is the major policy. So do read the article till the end.

What is Life Insurance or Life Insurance Corporation of India (LIC)?

New Policy of Life Insurance Corporation of India 2021

Life Insurance Corporation of India (LIC) is the most well known and biggest name in the life insurance industry of India. LIC was born on 1st September 1956. Before the advent of LIC, the life insurance industry in India was very unorganized. LIC was formed by merging many small and big insurance companies by the decision of the Government of India. LIC plays an important role in the life insurance industry.

New Policy of Life Insurance Corporation of India 2021

Following are some of the major policy names and their details of Life Insurance Corporation of India New Policy 2021 LIC:

1. LIC Child Plan

In the child plan, it is ensured that along with saving for the children, insurance is also taken. Under this plan, death benefit is given to the child by the death of the parent. This lump sum amount can also be used for children’s education, marriage and other big expenses. LIC’s child plan comes with a money back system. In which for the convenience of the children, they can be registered from their birth itself.

Child plan is eligible from birth till 12 years of age, after 12 years no one can register in this plan. The maturity period of the child plan is 25 years. Till maturity, if the parents of the children are safe, then the amount assured is given along with some bonus.

2. LIC Bima Jyoti Plan

Bima Jyoti is 1 endowment plan. This plan was brought on February 2021. After some time, by keeping this policy collateral, you can also take a loan. If the policyholder dies before the risk period then all the premiums paid will be returned to them and if the policyholder dies after the risk period then they will be given the sum assured. The sum assured is 7 times the annual premium or 125% of the basic assured. Whichever bigger amount is being made from these two, the same will be provided to the policyholder as death benefit.

3. LIC Bachat Plus Plan

With the Bachat Plus plan, you can take savings as well as life protection. The death benefit given to you depends on which premium payment option you choose. There are 2 options to pay premium, first single premium and second limited period premium.

Two types of premiums can be paid under single premium. This premium will depend on your taking the death benefit. If you want death benefit 10 times of Basic Sum Assured then you have to pay premium called Option-A and if you are happy with 1.25 times of Basic Sum Assured then you have to go with Option-B.

Along with this, you get the second and 1 option, under which you keep paying the premium every few days for 1 long period and under this also you are given 2 options. Depending on the option chosen by you, you can either get a cover of 10 times the basic amount and then up to 7 times.

4.LIC New Endowment Plan

Under the new endowment plan, the death benefit will be provided to you either at least as promised and then 10 times the amount of premium paid throughout the year. If the policyholder till the time of maturity If he does not die, he will be given the assured amount as well as the bonus. The policyholder can also take a loan under this plan. The policy term cannot exceed 35 years and premium is mandatory to be paid till the policy term. You can also take this plan from 8 years to 55 years old people.

5. LIC Jeevan Stambh Plan

Through LIC Jeevan Stambh plan, you can take cover from Rs 75,000 to Rs 3,00,000. The beneficiary of this plan can be only male. Only 1 Aadhar card is required to buy Jeevan Stambh plan. The policy term can be from 10 to 20 years. The freedom to choose the policy term is given to the policyholder.

Its death benefits are also like other LIC plans in which you will be provided either 10 times the premium for the year or whatever is the amount of Basic Assurance, the larger amount of both of these. If the policyholder dies within 5 years of taking the policy, they will be given a separate bonus called Loyalty Bonus.

6.LIC Tech Term Plan

As the name suggests, this is a 1 term plan. The age of entry in this plan is 18 years and people up to maximum 65 years can take advantage of this plan. The policy term can be kept up to 40 years in which the minimum sum assured is 50,00,000. You get the death benefit on 2 options. The name of the first option is Level Sum Assured. With the Level Sum Assured option, you get the amount you are promised and pay your premium accordingly.

But the second option is called Increase Sum Assured. The special feature of this option is that after 5 years, every year 10% of the basic Rasi keeps on increasing the intelligence. Increase in Rasi will be done till the basic Rasi is doubled.

7. LIC’s New Jeevan Anand Policy

The special feature of this plan is that 1 part of the bonus you get under this plan is also taken from the profit of the company. The death benefit of this plan is also more than the basic sum assured or 10 times the premium of the year. If the policy holder does not die within the term, they are paid the sum assured as well as the bonus.

  • If you want to know what is Health Insurance then definitely read this post.
  • What if you have Bima Kya Hai Health Insurance? then read this post

FAQ’s

  1. Who is the chairman of LIC?

    Mr. M. R. Kumar is the chairman of LIC. He joined LIC in 1983 as a direct recruit. He has worked for more than LIC mai 3 decades. During his tenure, he has headed 3 zones of India. They think that by giving freedom to the people to work according to them, they are able to work better and at the same time they also collectively develop the organization.

  2. How to contact LIC? LIC Customer Care Number

    LIC Customer Care Number – +91 9222492224

  3. LIC center office address –

    Life Insurance Corporation Of India, Central Office ‘Yogakshema’
    Jeevan Bima Marg, Nariman Point, Mumbai 400021

  4. LIC full form hindi

    Life Insurance Corporation of India

Conclusion

We hope that you like this article “What is Life Insurance or LIC of India? And you must have got all the information through Life Insurance Corporation of India’s New Policy 2021 Kya Kya Hai. If you have any question or suggestion, then you can tell us through comment.
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