LIC Micro Savings Plan: The country’s largest insurance company, LIC, has introduced a special plan to benefit the public. This is the LIC Micro Savings Plan (Plan No. 751; UIN: 512N329V03). It is a participating, non-linked, individual savings-cum-life insurance plan offered by the Life Insurance Corporation of India. This scheme has been designed specifically for low-income individuals and small-scale savers.
Information shared on LIC’s official social media platform, X, encourages people to secure their hard-earned money with the LIC Micro Savings Plan. By investing now, you can move confidently towards your future. Let us explore the details of this plan in this article.
What is the LIC Micro Savings Plan?
The LIC Micro Savings Plan offers the dual benefits of savings and security. It allows individuals to start with small, regular premium payments. The policy also provides a death benefit to investors. Additionally, benefits are available to the policyholder in the event of accidental death or disability. Furthermore, the plan offers an accessible loan facility for the policyholder.
Key Features of the LIC Policy
Individuals aged between 18 and 55 years can easily invest in the LIC Micro Savings Plan. The policy term ranges from 10 to 15 years. During this period, the policyholder can make premium payments on a monthly, quarterly, half-yearly, or annual basis. Regarding the coverage amount, the policyholder can opt for a sum assured ranging from ₹1 lakh to ₹2 lakh.
Where to get the policy
If you wish to purchase this LIC Micro Saving plan, you can do so via the official LIC website. You can also get information about the policy by sending “HII” to the WhatsApp number 8976862090. Alternatively, you can contact an agent to purchase the policy.