LIC New Plan: Life Insurance Corporation of India (LIC) is bringing new insurance plans keeping in mind the needs of the customers. A daily premium of Rs 20 has to be paid for an insurance of 1 crore rupees in the policy. LIC New Plan: Pay Rs 20 Premium Every Day, Get Rs 1 Crore.
Life Insurance Corporation of India (LIC) has discontinued Jeevan Amar and Tech term policies. It is known that two new policies of the same name have been announced in their place. The benefits of both these policies are almost the same. But LIC New Tech Term Policy is only available online.
If you see the features of LIC New Tech Term Plan, you can take this policy only on the official website of LIC. LIC New Tech Term Policy is an unlinked, non-participating, individual, pure risk premium life insurance plan. LIC New Tech Term Plan can be availed by anyone between 18 to 65 years.
Maturity age is less than 80 years. The minimum sum assured is Rs.50 lakhs and there is no maximum limit. The policy tenure is between 10 to 40 years. Like LIC New Jeevan Amar Plan, there are regular premium and limited premium options. Regular premium means payment of full premium for the policy term.
In limited premium, the premium should be paid 5 to 10 years before the policy term. For example, suppose a 20-year-old person takes this policy for Rs.1 crore with a policy term of 20 years. Regular premium is 7,047 + GST per annum. That means the daily premium comes to less than 20. 75,603 + GST for single premium. 1 crore will be covered for 20 years. In case of death during the policy term, the sum assured is paid to his family
Sum Assured will increase for those who select option 2 in this policy. 9,345 + GST premium per annum if calculated as per above example. Single Premium Rs.1,02,617 + GST. Sum Assured increases at the rate of 10% every year after the expiry of 5 years of the policy. Sum Assured is doubled from the 15th premium paid. That means you will get 2 crore rupees.
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LIC New Jeevan Amar, LIC New Tech Term Plans Term Insurance Policies. Hence there will be no maturity benefits. These policies are useful to financially support the family of the person who has taken these plans in case of unexpected death during the policy period.
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