If you pay a premium of Rs 891 for 20 years, your total liability will be Rs 2,09,511. When maturity is completed, you will get Rs 4 lakh as return. Rs 891 a month or 30 rupees a day goes up to Rs 4 lakh in 20 years.
LIC offers its customers the benefits of many attractive policies. It has a special policy for every stage of age. From children to young and elderly, they can also take advantage of it. LIC also comes up with a special scheme for women, one of which is the foundation stone. This policy is solely for women and is not available for men.
The policy for women is the cornerstone table number 844. The sum assured of this policy is rs 3 lakh. That means a maximum of Rs 3 lakh can be deposited in this policy. Anyone who has a low income or a higher income can take it, but no one can be given this policy for more than Rs. 3 lakhs. This policy can be taken without any test. Initially, when this policy came, it could be given to girls and women who had Aadhaar card. That is why the name of the policy was laid as the foundation stone.
Benefits of Bonus in Policy
Today, that is not the case and this rule has been changed. Girls or women who do not have Aadhaar cards can also avail of this policy. It is no longer necessary to have a Aadhaar card to take the policy. The amount of sum assured policy taken on maturity will be the same amount. Along with the loyalty edition, you will also get it. In simple language, there will be a bonus with sum assured. It is important to keep in mind that the more bonuses you take, the more bonuses you will get.
Rs 4 lakh to be paid on 20 years
Understand this example. If you are 25 years of age and take a sum assured policy of 3 lakh and the policy period is 20 years, you get a good amount of money. For this, you will have to pay a premium of just Rs 891 a month. In a day’s terms, it is Rs 30. If you pay a premium of Rs 891 for 20 years, your total liability will be Rs 2,09,511. When maturity is completed, you will get Rs 4 lakh as return. Rs 891 a month or 30 rupees a day goes up to Rs 4 lakh in 20 years.
Benefits of Accident Insurance
If within 5 years of taking the policy, there is something untoward with the insured and they are running, the nominee will be paid Rs 3 lakh. If untoward is 5 years after taking the policy, his family also gets 110 cents of sum assured, i.e., 330,000 plus bonus. This policy is for women only. The minimum age is 8 years. If the daughter is 8 years old, she can take this policy. The maximum age for taking the policy is 55 years. That is, a woman 55 years old can also take this policy. A policy period of at least 10 years has to be taken. A maximum of 20 years, i.e., you can take whatever period is right between 10 and 20 years. It is advisable to take the policy for 15 years or more years so as to get more bonus.
Incident Benefit Rider Available
The minimum sum assured in this policy is Rs. 75,000 and maximum is Rs. 3 lakhs. This policy provides incident benefit rider. The advantage would be that if there is an accident with the insured and if he dies, he is paid a double sum assured. This policy also benefits from auto cover. That is, if the insured pays a premium of more than 3 years and less than 5 years and stops paying the premium for some reason, automatic premium payment is available for the next 6 months.
If the insured stopped paying the premium after paying 5 years, the benefit of auto cover is available for the next 2 years. This policy also features a loan which can be availed after 3 years of premium. You can avail a loan up to 90 cents for the premium you have paid.
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