New Delhi: The Life Insurance Corporation of India (LIC) has lately launched “Amritbaal,” a conventional endowment coverage geared toward dad and mom looking for to safe their kids’s greater training bills over the long run. This non-linked, non-participating coverage is designed to offer monetary stability and assist for fogeys planning for his or her kids’s future instructional wants.
LIC Amritbaal Plan: Key Features And Eligibility
Amritbaal is open for youngsters between 30 days and 13 years of age at entry, with a maturity age starting from 18 to 25 years. The coverage provides assured additions on the fee of Rs 80 per thousand primary sum assured yearly, accumulating a corpus over the coverage time period. (Also Read: Tax Season Is Here! Know Difference Between Income Tax (ITR) Return And TDS)
The premium cost phrases are versatile, starting from 5 to seven years. The minimal sum assured is Rs 2 lakh, with no most restrict specified. (Also Read: Samsung Galaxy A34 5G Price Drop In India: You Can Get Rs 3,000 Instant Discount On Flipkart)
LIC Amritbaal Plan: Policy Tenure And Maturity Options
For restricted premium cost insurance policies, the minimal tenure is 10 years, whereas single premium insurance policies have a minimal tenure of 5 years. The most coverage tenure for each single and restricted premium cost insurance policies is 25 years.
Upon maturity, the sum assured together with assured additions will likely be payable. Policyholders even have the choice to obtain the maturity quantity via installment settlements over 5, 10, or 15 years.
LIC Amritbaal Plan: Premium
While writing the article, we did haven’t precise info concerning the premium of the coverage.
LIC Amritbaal Plan: Additional Benefits
Similar to different financial savings plans provided by LIC, policyholders can avail loans below the Amritbaal coverage, offering further monetary flexibility.
The product is on the market via LIC’s offline channels, together with brokers, distributor banks, and immediately via the corporate’s web site.
Source: zeenews.india.com
