Life Insurance Corporation of India or LIC has brought two new plans for the common people. The names of these two plans are Protection Plus and Bima Kavach. And in these two plans you will get life insurance and guaranteed savings. In this case, in the Protection Plus plan, you can create wealth in the long term. On the other hand, Bima Kavach will give you financial security.
And experts say that both these plans are very simple, useful and reliable. According to them, these plans will help financially. Therefore, it is very important to keep an eye on these two plans.
This plan is for those who want to do savings along with insurance. It not only provides security after death, but also provides unit fund based fund value. That is, in simple terms, good returns are available. In this plan, your money is linked to the market. It gives more profit than the returns of traditional plans.
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What are the benefits of this policy?
- You can take this policy from the age of 18 to 65
- You can take a term of 10, 15, 20 or 25 years
- You can pay premium for 5, 7, 10, 15 years
- You can get 5 to 7 times the return on the amount you deposit annually
- If you want, you can also pay a top-up premium, which will increase the investment
- Through this plan, you can also withdraw some money as needed after 5 years
- After the policy term ends, you will get the maturity amount
- The policy in whose name, if he dies, you will also get the fund value along with the nominee sum assured
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About LIC Bima Kavach Plan
This is a risk protection term plan. There is no room for your savings or investment in this. However, there is a fixed death benefit.
Know its features
- Anyone between the ages of 18 and 65 can take this plan
- The policy term or maturity is available up to the maximum age of 100
- With this policy, you can choose the sum assured level
- If you want, you can also increase that sum assured later
- If you want, you can pay single, limited and regular premium in this policy
- Single premium term is 10 years, limited premium term is 10, 15, 20 years and regular premium term is 10 years
- Minimum sum assured is 2 crore Rs