Not exact matches
Also, you have
completed almost 60 to 75 % of
policy tenure for both the
policies.
If the child has survived throughout the
tenure of the
policy, you can get 20 % of the sum assured after the child
completes the age of 18.
Guaranteed Additions accrue under the plan for each
completed policy year which depends up on the
policy tenure.
The
policy holder can get the maturity benefit only if s / he is able to survive the
complete tenure of the
policy.
Also, you have
completed almost 60 to 75 % of
policy tenure for both the
policies.
So, in case the insured dies while the
policy is active the beneficiary can claim
complete or at least the guaranteed maturity sum whichever is higher., The guaranteed maturity value is calculated based on gender, age,
tenure and amount of premium.
Should I make this
policy as Paid - Up or
complete the
tenure?
You can pay lump sum for the premiums at the beginning of the
policy or for the
complete tenure of the plan
Loyalty addition: LIC Bima Bachat
policy declares loyalty addition after the
policy has
completed a
tenure of 5 years.
Policy Termination or Surrender Benefit: On
completing 5 year
tenure with the plan it automatically enables a surrender value over it.
If you have
completed the maturity period of the
policy, then an incentive is given to you by your insurer as the loyalty addition, for keeping the
policy active throughout the
tenure of the
policy.
Based on the
policy term chosen, guaranteed additions will accrue for each
completed policy year at the rate of 7 % of the sum assured for
policy tenure of 5 years and 9 % of the sum assured for
policy tenure of 10 years