Why Should I Buy LIC 1 Lakh Policy?

LIC 1 Lakh policies are specially designed for those individuals who are willing to secure the future of their family but do not want to put a burden on their pockets. These budget-friendly plans are an ideal and affordable way to secure the future of your family. 

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About LIC 1 Lakh Plans

LIC Plans of 1 Lakh sum assured provides you with a double benefit of life security and savings benefits. These plans offer death benefits of up to Rs. 1 Lakh to the family of the policyholder if something untoward happens to them, whereas, in case the policyholder servives till the end of the policy tenure, the plan will offer maturity benefits of Rs. 1 Lakh.

Why Should You Buy LIC 1 Lakh Policy?

  • Achieve dual benefits from a single plan

    The LIC Policy of One Lakh is a mix of a life protection plan and a savings plan created to take care of your and your family's financial requirements after your passing and to assist you in better planning for your future objectives.

  • Use a loan facility to take care of your urgent financial needs

    As long as you have paid at least two full years' premiums, the plan allows you to obtain a loan against your LIC policy of 1 Lakh.

  • Pay your unpaid payments during the grace period without any penalty

    LIC 1 Lakh policy has a 30-day grace period during which you can pay any unpaid payments. During the grace period, the policy continues to be in effect and covers you with all the benefits.

Who Should Buy LIC 1 Lakh Policy?

LIC policy of 1 Lakh is an ideal plan for:

  1. The Individuals who are seeking a budget-friendly life insurance coverage

    The LIC policy of 1 Lakh is one of your best alternatives if you're seeking life insurance that offers protection at an affordable premium rate. The 1 Lakh LIC plan offers coverage at reasonable charges.

  2. People with low income

    You can get a LIC 1 Lakh Policy if you're worried about the future of your family yet have a limited income. Your family will have the financial security of Rs 1 Lakh at budget-friendly premiums.


How to Buy LIC Plans from Policybazaar?

Follow the below steps to buy LIC Plans from Policybazaar:

Step 1: Visit LIC of India.

Step 2: Fill in the form with your name and contact number. Click on “view plans”.

Step 3: On the next page, enter your age and the city you live in.

Step 4: Once done, you can customize the amount and tenure of your investment.

Step 5: Check the details, and the premium you need to pay and proceed to make an online payment.

Wrapping it up:

One of the best gifts you can offer your family is financial security by purchasing a LIC 1 Lakh insurance that too at affordable premiums. The plan assures that your family will be able to fulfill their day-to-day needs after your passing by providing coverage of one lakh. Additionally, if you live past the policy's term, you can use the maturity benefit to achieve future financial goals.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
++Returns are 10 years returns of Nifty 100 Index benchmark

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