If you want to know about LIC Term Insurance 1 Crore and Term Policy for 1 Crore then this post is for you. In this post, we will tell you what are the benefits of lic one crore term plan.
Let’s know the complete information about LIC 1 crore plan from here.
To keep your family safe with life insurance, you must have a LIC one crore policy in hand. It is a good decision to take 1 crore insurance policy for good support of the family in case of your absence.
However, young people are advised to buy term insurance or lic 1cr plan. This saves premium. Because the premium remains high due to increasing age. But here the elderly are also advised to keep their family safe by buying an insurance policy.
What is LIC Term Insurance 1 Crore?
LIC 1 crore term plan is a term insurance policy in which the policyholder gets an insurance coverage of Rs 1 crore sum assured. In this one crore plan – Life Insurance Corporation of India, the insurance company promises to provide a loss of one crore rupees to the nominee and the family member in case of death of the policy holder.
LIC Term Insurance is a term insurance plan. In which pure insurance coverage is obtained. Term insurance is cheaper as compared to other insurance plans and provides maximum sum assured cover at low premium. With term insurance, you can do insurance planning for yourself and your family.
Under this scheme, you can buy sum assured of more than one crore. There are many such term insurance plans in LIC, under which you can buy a term plan of Rs 1 crore.
The premium is paid by the policyholder after purchasing a term insurance policy. When the policy holder dies, the insurance company provides one crore rupees in death benefit to the nominee as per the policy.
In the time of this inflation, it is becoming difficult to keep up with the daily expenses. In such a situation, the child’s education, medical, marriage, all these cannot be ignored. If the bread earner of a family dies, it is difficult to even guess what the condition of their family will be.
Therefore LIC is the right plan to support your family in emergency with one crore term insurance. With LIC 1 crore term plan, the family gets complete protection.
If you are the only person in your family who takes care of the family expenses, then it would be wise for you to buy a term insurance policy of Rs 1 crore. For example, an insurance policy can be bought in the name of your father, mother, maternal uncle, brother, sister.
LIC 1 Crore Term Plan
For LIC One Crore Term Plan, you have to look at Jeevan Amar Plan and LIC Tech Term Plan. Because term insurance is the best insurance plan for one crore sum assured insurance cover.
Apart from this, you can take an insurance cover of one crore from LIC’s investment plan. But by taking an investment plan of LIC, the premium will have to be paid a lot. Because in investment plan you save money, earn bonus, get insurance cover and many more benefits.
So let’s know about LIC’s one crore term insurance. Know what are the benefits, eligibility and other important information of LIC 1 Crore Term Plan.
LIC’s Jeevan Amar Plan
LIC Jeevan Amar Plan is a non-linked, no profit pure insurance cover plan. This is LIC’s term insurance plan, in which you get the facility of taking minimum sum assured of 25 lakhs and there is no limit on maximum sum assured.
Under this plan, you can buy LIC’s term insurance of 1 crore. The special thing is that the option of Level Sum Assured and Increasing Sum Assured is available in LIC Jeevan Amar plan. There are two types of premium rates in this plan. The first is non-smoker rates and the second is smoker rates.
In LIC Jeevan Amar plan 3 options have been given to pay premium. The first in the Premium Payment Mode is Regular Premium, the second is Limited Premium and the third is Single Premium.
Let us know other things about LIC Jeevan Amar Plan.
- LIC Jeevan Amar plan is a pure protection plan.
- One crore term insurance of LIC can be bought under Jeevan Amar Yojana.
- The minimum entry age in this scheme is 18 years and the maximum entry age is 65 years.
- The policy term in LIC Jeevan Amar Term Plan is 10 to 40.
- In LIC Jeevan Amar plan there is no minimum Sum Assured 25 Lakh and no limit on Maximum Sum Assured.
- If you opt for the regular premium option, then the premium will have to be paid for the same number of years as the term of the policy.
- In this plan, the premium has to be paid only once on opting for the single premium option.
- Two options will appear while selecting the Limited Premium in Jeevan Amar plan. In which the first minus 5 years and the second minus 10 years.
- Accident Benefit Rider is available in Jeevan Amar plan.
- Under this plan, if the policy holder dies, a death benefit is provided to the nominee.
- Apart from the death benefit, no other benefit will be available in this plan. Such as maturity, loan, surrender or survival benefits.
- LIC Jeevan Amar plan is exempted from income tax under section 80C.
- Maturity benefit is not available after completion of tenure in Jeevan Amar plan.
- You can buy LIC Jeevan Amar plan through LIC agent as this plan is not available online.
Under LIC Jeevan Amar plan, you can buy term insurance of 1 crore. This plan is an offline term plan in which you get pure insurance cover. This is the best term insurance plan for 1 crore insurance policy lic.
LIC 1cr Tech Term Plan
LIC Tech Term Plan is a non linked pure insurance cover plan and online term plan of LIC. Under this scheme, you can secure your family with an insurance cover of 1 crore. You can buy this plan only from online.
For LIC tech term plan, you have to visit the official site of LIC, only after that you can buy this plan. In LIC Tech Term Plan, you can take a sum assured cover of more than 1 crore.
Let us know more about LIC Tech Term.
- The minimum age for LIC Tech term is 18 years.
- The maximum age in this scheme is 65 years.
- The maturity age in LIC Tech term is 80 years.
- There are two death benefits available in this plan. The first is Level Sum Assured and the second is Increasing Sum Assured.
- LIC Tech Term has a separate premium rate for women.
- Accidental Death Benefit Rider is available in this plan on payment of additional premium.
- You are getting regular premium, limited premium and single premium in premium paying modes.
- The policy term is 10 years to 40 years for LIC 1 crore technical term.
- Under this scheme, both men and women can take a term insurance of one crore.
- There is no maturity, loan and survival benefit in LIC Tech Term.
- This plan is 1 crore net online insurance plan of LIC.
LIC Tech term plan provides 1 crore insurance cover. You can buy this plan online.
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