Premium options of 15 years, 20 years and 25 years are given in LIC Bima Ratna policy. The premium you have to pay is 4 years less than the premium you opt for.
Life Insurance Corporation (LIC) is the largest insurance company. Even today, people of every section of the country trust a lot on this. LIC keeps on coming up with various policies for its customers from time to time. If you are also looking for a better policy to invest in LIC, then LIC Bima Ratna plan can be a better option for you.
LIC Bima Ratna is one such plan in which you get guaranteed bonus, as well as the benefit of money back. There is no market risk in this. If you are also interested in this plan, then know here the details of LIC Insurance Ratna plan-
How many years is the premium
Premium options of 15 years, 20 years and 25 years are given in LIC Bima Ratna policy. The premium you have to pay is 4 years less than the premium you opt for. For example, if you choose premium for 15 years, then you have to pay premium for 11 years, 20 years, 16 years and 25 years if you choose premium for 21 years.
Benefit of moneyback
Under this scheme, it is mandatory for you to take the insurance of the sum assured of at least 5 lakh rupees. You also get the benefit of money back in this policy. Twice you get moneyback and 50% of the total sum assured plus guaranteed addition on maturity. Money back is available in 13th and 14th year in 15 year plan, 18th and 19th year in 20 year plan and 23 and 24 year in 25 year plan.
Understand by example
Suppose you opt for a policy with a sum assured of 10 years with a term of 15 years. In this, you have to pay premium on monthly, quarterly, half yearly or yearly basis for 11 years. In 13th and 14th year you will get Rs 2.5-2.5 lakh as money back and Rs 5 lakh after completion of 15 years and Rs 8,25,000 i.e. Rs 13,25,000 as guaranteed addition. If the last 2.5-2.5 are also added to this, then this total amount will become 18, 25000.
Death benefits will also be available
If the policy holder dies during the policy, then the sum assured and guaranteed addition money is given to the nominee. In such a situation, up to 125 percent of the Basic Sum Assured or up to 7 times the annual premium, whichever is higher, is paid by LIC to the nominee. Not less than 105% of the total premium that will be paid for the policy can be paid in the death benefit.
Guaranteed bonus
Guaranteed bonus is available in this policy after five years. Under the policy, from the first year to the 5th year, a guaranteed bonus of Rs 50 per 1000 rupees, from the sixth to the tenth year a bonus of Rs 55 per 1000 rupees, from the 11th to the 25th year a bonus of Rs 60 per 1000 rupees is available. Is. You also get the facility of loan against the policy. Anyone between the age of 90 days to 55 years can buy it.
