LIC Term Insurance Plans
Term Insurance plans are the real Life Insurance plans for High cover at low premium. LIC of India’s claim ratio is the best in the World. There is no comparison for LIC’s Term Plans due to government guarantee.
Term Insurance plans – LIC India
Term insurance is type of life insurance which provides coverage at a fixed rate of payments for a limited period of time. If the insured dies during the term, the death benefit will be paid to the beneficiary.There will be no returns if policy matures.Term insurance is the purest form of Life Insurance and the best way to purchase a substantial death benefit on a lesser premium.
1) New Anmol Jeevan ( Term Assurance upto Rs. 24,99,999/= )
2) New Amulya Jeevan ( Term Assurance for Rs. 25,00,000/= and above)
- Death Benefit : In case of unfortunate death of the Life Assured during the term of the policy, Sum Assured is payable, provided the policy is kept in force.
- Maturity Benefit:……….Nil
- MODE OF PAYMENT OF PREMIUMS :Premiums may be paid Yearly, Half-yearly or by Single Premium mode.
- GRACE PERIOD : A grace period of 15 days will be allowed for payment of yearly or half-yearly premiums.
- PAID UP VALUE : The policy shall not acquire any paid-up value.
- SURRENDER VALUE :No Surrender Value will be available under this plan.
- LOAN :No loan will be available under this plan.