State-run insurers offer various types of insurance plans, with unique features and benefits in each to meet a person's varied needs. LIC offers various types of Insurance Plans and each has unique features and benefits to fulfill the variant needs and requirements of the people -- people can choose any as per their choices.
For the premium amount of Rs7,500, the policyholder can avail of 75 lakh cover under the LIC E-Term Plan (Online Term Insurance Plan). LICs Jeevan Umang also offers either a lump sum payout on maturity or a death benefit, which is paid to the policyholders nominated in case the insured passes away while he/she is insured for the duration of the policy.
If a covered individual has paid premiums continuously for three consecutive years, then they are entitled to opt out of the LIC Jeevan Amar scheme. The plan offers life insurance coverage for the insured children for the duration of the policy. LIC Jeevan Amar Plan is an unlinked, non-linked, offline Term Insurance Plan that is designed to provide the family of a beneficiary financial support if they die during the term of the policy. The new Jeevan Anand policy from LIC is a Non-Linked, Individual, Participating, Life Insurance Plan that provides the beneficiary a mix of protection and savings. As one of the best life plans, the LIC New Jeevan Anand also provides the insured with an annuity at the end of life
If the policy expires. This combination benefit provides a financial backup for the family in the unfortunate demise of an insured, as well as provides an amount of lump-sum at maturity for the LIC Tech term plan if the insured survives for the full term of the policy. The lump sum amount is paid as a maturity benefit to the insured upon the completion of policy maturity, or the death benefit is paid to the nominee of the policy if the insured passes away while premiums are paid. Guarantee from the insurer that they will provide financial protection, where they promise to pay the designated beneficiary a lump sum of funds if, sadly, the insured should pass away while he is still alive, within the life insurance plans term. Jeevan Umang plans offer yearly survivability benefits starting at the end of a premium-paying period until the date of expiry, as well as lump sum payments upon the expiry of a policy, or upon the policyholder's demise during the policy term. Here are some salient features and benefits of the LIC Jeevan Umang plan: It is a profit-sharing policy that gives bonuses that helps to increase the benefits of the plan. A limited premium is payable on the plan once you complete the premium paying term, 8 percent of the insured sum is paid annually till maturity.
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