LIC Jeevan Bharti Plan 2023 Benefits, Features, Details, Reviews

LIC Jeevan Bharti Plan – In India, a variety of life insurance plans are available. In order to meet the various requirements of their customers, various insurance companies offer various plans. However, there are few options for women-specific life insurance plans. Jeevan Bharati of LIC (table no. 160) is a money-back insurance policy tailored to women’s specific financial requirements. The LIC plan not only provides comprehensive life insurance, but it also encourages women to save money for financial security in the future.

LIC Jeevan Bharti Plan 2023 is an important policy initiative by the Indian government that aims to provide affordable housing for all Indians. The plan is divided into two phases, with the first phase focusing on provision of affordable housing for rural and semi-urban areas. The second phase will cover the urban areas of the country. The plan will be implemented over a period of five years and is expected to benefit over 50 million people. Here are some key points about the LIC Jeevan Bharti Plan 2023.

LIC Jeevan Bharti Plan 2023

Survival Benefits of 20% of the Sum Assured are paid every five policy years under this plan, but premiums must be paid for the entire 15 or 20-year policy term. Maturity Benefits consist of the remaining Sum Assured, accrued Reversionary Bonus, and Final Addition Bonus. However, the policyholder has the option of withdrawing the Survival Benefit earlier than the due date, at which point she would also receive interest. As a result, she has the opportunity to tailor this plan to her requirements.

LIC Jeevan Bharti 2023 is an extensive insurance program that offers comprehensive protection to customers. It covers a wide range of risks, from property damage to accidents, and provides full insurance cover for both personal and commercial vehicles. Here’s everything you need to know about LIC Jeevan Bharti Plan 2023.

LIC Jeevan Bharti Plan

LIC Jeevan Bharti Plan 2023 Overview

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Some Special Features Of Jeevan Bharati Insurance Policy Are As Follows:

Jeevan Bharati is a renowned insurance company that has been providing quality services to the people of India for many years now. With a wide range of products and services to choose from, it’s no wonder that this company is one of the most popular in the country.

  • The Jeevan Bharati Insurance Policy was created exclusively for women.
  • a bonus-based money-back plan with annuity-convertible features.
  • Every five years, more than 15% of the amount assured is received as a survival benefit.
  • Maturity benefits are paid out at the end of the policy term and include both the remaining amount assured and earned bonuses.
  • The plan offers high sum assured reimbursements.
  • There is a three-year premium-free option if you have paid your premiums on time for at least two years.
  • As this plan also gives you the option of paying advance premium, reimbursement is given if you do so.
  • The premiums may also be paid in instalments by the policyholder.

Eligibility conditions and other restrictions in LIC Jeevan Bharathi-I Plan

Minimum Maximum
Sum Assured (in Rs.) 50,000 25,00,000
Policy Term (in years) 15 20
Premium Payment Term (in years) 15 50
Entry Age of Policyholder 18 55
Age at Maturity 70
Single Premium (in Rs.) NA NA
Payment modes Yearly

Benefits of Jeevan Bharati Insurance Policy Are As Follows:

Jeevan Bharati is one of the most popular insurance policies in India. It offers comprehensive insurance protection to its customers, including property, life, health, accident, and liability.

The following are the Jeevan Bharti Insurance Policy’s guaranteed benefits:

  • Survival Benefits
  • Death Benefit
  • Maturity Benefit
  • Income Tax Benefit

The policy comes with three built-in riders in addition to the benefits that were mentioned earlier. To take advantage of these riders, the policyholder does not have to pay an additional premium. These are the three built-in benefits of this plan:

  • Critical Illness Rider: The beneficiary of the policy is guaranteed to receive a benefit equal to the assured sum, which must be at least Rs. Rs. 50,000, with a maximum 500,000) in the event of the policyholder’s diagnosis of a critical illness like breast, cervical, or vulvar cancer. The insured sum will be paid out immediately if any of these conditions are found to be present in the policyholder. In any case, the safeguarded need to trust that a half year will profit the advantages.
  • Congenital Disabilities Benefit Rider: If the insured woman gives birth to a child who has certain congenital conditions like Down’s syndrome, tetralogy of fallot, anal atresia, imperforate anus, etc., the insured woman will be covered. then the installment of half of guaranteed total must be made yet this advantage is accessible simply up to the age of 40 years and for a most extreme number of two youngsters. Under this cover, 5 lakhs are payable.
  • Accident Benefit Rider: During the policy’s term, the Accidental Benefit Rider pays out in the event of death or total and permanent disability as a result of an accident.

Additional Features and Benefits of LIC Jeevan Bharathi-I Plan

LIC Jeevan Bharathi-I is an initiative of the Indian government that aims to provide affordable and quality healthcare to all. With this plan, you can get access to a wide range of medical services, including hospitalization, surgery, and specialty care. Here are some additional features and benefits of LIC Jeevan Bharathi-I that you may not have considered.

Riders – There are 3 Additional Riders available:

  • During the policy’s term, the Accidental Benefit Rider pays out in the event of death or total and permanent disability as a result of an accident.
  • In the event of a diagnosis of any of the aforementioned critical illnesses, there is a rider called the Critical Illness Benefit Rider.
  • If the Life Assured gives birth to a child who has certain congenital disabilities, such as Down’s Syndrome, Tetralogy of Fallot, Anal Atresia, Imperforate Anus, and so on, the Congenital Disabilities Benefit Rider will pay out.
  • For two children, the benefit is available up to a maximum of Rs 5 lakh.

What happens if?

Welcome to “What happens if?”, a series where we explore various scenarios and ask the question – what would happen if? We hope this series helps you to think about risks in a different way, and to think about how you can mitigate them. In each installment, we’ll explore a different scenario and ask the question – what would happen if…

You stop paying the premium If you stop paying your premiums after two policy years, the policy will continue for the full Sum Assured for a period of three years beginning with the first day you didn’t pay your premium. Premium Holiday is the common name for this time period. If no less than 3 years’ charges have been paid, the strategy gets a Settled Up Worth following 3 years of Premium Occasion else the arrangement breaches and all advantages stop.

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