LIC Bima Ratna Plan In LIC’s Bima Ratna policy, investors are given three types of benefits such as moneyback death benefit and guaranteed bonus. To invest in this, a sum assured of at least Rs 500000 has to be taken.
The country’s largest insurance company LIC (LIC) launches different policies keeping in mind the needs of the investors. These policies offer different benefits depending on their premium and term. In this, many plans give the benefit of guaranteed returns to the investors. If you too are looking for a similar plan to invest in LIC, then LIC Bima Ratna Plan can be for you. Let us know about this plan in detail….
What is LIC Bima Ratna?
LIC Bima Ratna is a non-linked, non-participating, individual, savings, life insurance plan, which provides the option of saving as well as protection to the investor. With this, death benefit is paid in case of sudden death of the policy holder and if nothing happens after a specified period. The special thing about this policy is that in this the investor is given benefits like moneyback and guaranteed bonus.
How much benefit will be available in LIC Bima Ratna
In LIC Bima Ratna, you get benefits according to the period. For example, if you have chosen a policy for a term of 15 years, then 25 percent of the amount is returned to you in the 13th and 14th year. In this way, this amount is returned to you in the 18th and 19th year for a 20-year term policy and in the 23rd and 24th year for a 25-year term policy.
Guaranteed bonus
In this scheme, as a guaranteed bonus, a bonus of Rs 50 per thousand is given in the first 5 years and a bonus of Rs 55 per thousand in 6 to 10 years and after 10 years, you are given a bonus of Rs 60 per thousand.
Death benefit
If the policy holder dies before the maturity of the policy, the nominee is paid up to 125 percent of the Basic Sum Assured or seven times the annualized premium, whichever is higher. The death benefit shall in no case be less than 105% of the premiums paid during the term of the policy.
Key Features of LIC Bima Ratna
- LIC Bima Ratna can be invested from 90 days to 55 years of age.
- In this, a minimum sum assured of 5 lakhs has to be taken for at least 15 years.
- By taking a sum assured of 5 lakhs for 15 years, you can get close to Rs 9,00,000.
- In this, a minimum monthly premium of Rs 5000 has to be paid.
