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LIC – Micro Insurance Plans
LIC’s Micro Insurance Plans are not plans but opportunities that knock on your door once in a lifetime. These plans are a perfect blend of insurance, investment and a lifetime of happiness!
1) Bhagya Lakshmi: LIC’s Bhagya Lakshmi is a limited premium paying, Non-linked, Non-participating Individual, Life, Micro Insurance, savings plan with return of 110% of total amount of premiums payable on maturity.
2) New Jeevan Mangal: LIC’s New Jeevan Mangal is a protection plan with return of premiums on maturity, where you may pay the premiums either in lump sum or regularly over the term of the policy. This plan has an in-built Accident Benefit which provides for double risk cover in case of accidental death.
3) Micro Bachat Plan: LIC’s Micro Bachat is a regular premium, Non-linked, Participating, Individual, Life Assurance plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder during the policy term and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its Loan facility.