LIC 25 Lakh policy is a combination of life insurance as well as an investment which means that these plans will offer the benefits of both life coverage as well as savings. With these plans, you can effectively plan for your future financial needs and side by side ensure that your family’s financial needs will be looked after if something happens to you.Read more
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Guaranteed maturity with life
cover for securing family's future
Tax saving under Sec 80C &
Sovereign guarantee as per
Sec 37 of LIC Act
LIC Policy of 25 Lakhs is a plan that offers combined benefits of savings and life coverage. These plans offer both death and maturity benefits to the beneficiary and help them to secure their future financially. Along with this, the 25 Lakhs plan by LIC also offers other benefits such as Tax benefits, loan facilities, a free-look period, and many more. In this article, let us explore the benefits of LIC 25 Lakh plans and other policy details:
Below mentioned are the 5 LIC Plans that offer coverage of Rs.25 Lakhs. Have a look:
|Plan Name||Entry Age||Policy Tenure||Maturity Age|
|LIC SIIP||90 Days-65 years||10-25 years||18-85 years|
|LIC Jeevan Umang||90 Days-55 years||(100 – age at entry) years||30-70 years|
|LIC Bima Jyoti||90 Days-60 years||15-20 years||75 years|
|LIC Dhan Varsha||3-60 years||10 & 15 years||75 years|
|LIC New Jeevan Anand||18-50 years||15-35 years||75 years|
The policy offers death benefits to the nominee if the policyholder dies during the policy tenure. The amount received can be used by the family to overcome the financial struggles that may arise after the death of the policyholder.
Another benefit that one can enjoy is the Maturity benefit which is given if the policyholder survives till the end of the policy term. The plan gives the maturity benefit of Rs. 25 Lakhs and more to the policyholder and helps them to achieve their future goals.
The premiums paid against the LIC plans are eligible for tax deductions. One can claim tax benefits up to Rs 1.5 lakh on the premium paid for self, spouse, and children.
Emergencies come unannounced. To meet any such financial emergency, LIC offers a loan against your 25 Lakh policy, provided, you have paid the due premiums for at least 2 years.
In case you are not satisfied with your policy’s terms and conditions, you can cancel your policy within 15 days of its inception. These 15 days are known as the free-look period.
Having Life Insurance coverage is a must nowadays, especially if you are the sole earning member of the family. This 25 Lakh Policy by LIC is a must-have if:
You have outstanding loans
After your death, your family will not only struggle emotionally but also financially. And if you have any outstanding loans, the burden of EMI will take a toll on your family’s happiness. Thus, it is very important to have a policy with a Sum Assured of Rs. 25 Lakhs to ensure that your family will be able to pay the loans, and can be financially free.
You have several responsibilities
Responsibilities like your children’s education, their marriage, or settling them in the future is a huge responsibility. With the LIC 25 Lakh Policy, you can ensure to fulfill all your children’s dreams.
You have no source of income after retirement
After your retirement, surviving can be very difficult if you do not have a perfect retirement plan. , with the help of the LIC 25 Lakh policy, you can ensure that you and your spouse can live peacefully after your retirement.
Step 1: Visit LIC of India
Step 2: Fill in the form with your name and contact number
Step 3: Next, fill in your age and current city
Step 4: Once done, on the next page you can check the plans available and customize the amount and time period for your investments
Step 5: Choose the plan, and pay your premiums online.
Securing your family’s future needs with the LIC 25 Lakh policy is the best gift you can give to your loved ones. With the joint benefit of life insurance and investment, LIC policy of 25 Lakh is an ideal plan to invest your money in. Not only do these plans offer coverage to your family after your death, but also offer several other benefits.
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