New Delhi: LIC offers several excellent schemes in India, which have benefited a large number of people. LIC recently launched the Bima Kavach plan. This plan is expected to be very popular among people. It is a non-linked and non-participating plan.
The main objective of this scheme is to provide financial security to the policyholder’s family in the event of unforeseen circumstances in the future. It offers higher coverage with lower premiums. Most importantly, it can be purchased online from the comfort of your home or offline through an agent. The Bima Kavach plan will prove to be a great boon.
How to Choose the Sum Assured
LIC’s sum assured is unique. Its biggest feature is the sum assured options. Customers can choose a level sum assured or an increasing sum assured according to their needs.
Responsibilities increase with time. That’s why the increasing sum assured is a great option. It also better meets your future needs.
This LIC plan is ideal for those seeking long-term security. The plan also provides lifelong risk protection up to the age of 100 years. The company also offers some flexible options for premium payments.
It provides lifelong risk protection up to the age of 100 years. You can pay premiums regularly, or for limited periods of 5, 10, and 15 years.
How the Coverage Increases
You will be surprised to know that there is also a special option to increase coverage at important life stages, such as marriage or the birth of a child. This Life Stage Event option is available only to those who are 40 years of age or younger. This facilityappliese to the regular premium, level sum assured option.
Plan Eligibility
Most importantly, any Indian citizen can avail themselves of this scheme.
Furthermore, it is essential for the individual to be healthy to avail of the Bima Kavach benefits. A medical check-up is mandatory beforehand.
If the customer is a non-smoker, they will receive greater benefits at a lower premium. Individuals between the ages of 18 and 65 can apply for this scheme.
