LIC Term Insurance Plans
The LIC provides five different options under its term insurance plans. They will be bought traditionally via branches of the LIC. For those who want the fast and teach savvy approach, some of the plans will be purchased over the LIC web portal as well. These types of the plans feature very easy terms and conditions and will be simply availed via no paperwork or minimal paperwork. The LIC Term Insurance Plans are also provided tax benefits on the premium payments and final sum amount is assured that is payable to the nominee. The loan will also to be taken in the lieu of these types of the term plans and this range of providing from the LIC is also called as the term assurance plans.
Different Types Of LIC Term Plans:
There are 5 types of the term plans provided by the LIC and they are
- LIC Amulya Jeevan – II
- LIC Anmol Jeevan – II
- LIC New Jeevan Mangal
- LIC e-Term
- LIC Bhagya Lakshmi
- LIC Amulya Jeevan – II: the traditional term plan from the LIC insurance. This type of plan is present through all branches of the LIC.
- LIC Anmol Jeevan – II: this is another traditional plan from the LIC. The LIC Anmol Jeevan – II is almost same features as the Amulya Jeevan II.
- LIC Bhagya Lakshmi: the offline plan in micro insurance segment. The Bhagya Lakshmi will be really helpful for rural population or ones belonging to the low-income groups. Unlike conventional term insurance plan, this type of the insurance plan provides maturity benefits.
- LIC e-term: the LIC online plan that is the pure term plans and is considered only on the individual basis.
- LIC New Jeevan Mangal: the micro-insurance plan with the accidental death advantages rider that provides for returning premium paid on the maturity.
Salient Features And Benefits Of The LIC Term Plans:
- The oldest and most trustworthy insurer in the India in public sector
- Flexible options in the insurance pertaining to premium payment cover amount and term
- Customers can purchase selected plans in online in comfort of their homes
- Customers can be avail of the certain tax benefits under the relevant sections of IT Act, 1961
- Some of the plans can be converted or transferred to the other type of the LIC insurance plans offered by the LIC.
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