It can be purchased both online and offline from February 17, 2024. According to LIC, LIC Amritbal policy is designed to provide adequate funds to meet the needs of the child.

Life Insurance Corporation of India (LIC) has launched its new scheme (LIC New Scheme) Amritbaal with the aim of securing the future of children. Amritbal is an individual savings life insurance plan specifically designed to meet the higher education and other needs of the child. This plan has also been named ‘Plan 874’, which has been specially designed for children. In a way, this is a child insurance policy. People can buy this policy from today. Let us tell you about this new policy of LIC.

You will get discount on buying online

Life Insurance Corporation of India (LIC) has launched a new insurance policy specially designed for children aged between 30 days to maximum 13 years. You will also get a discount on purchasing this Individual Savings Life Insurance Plan online.

According to LIC, LIC Amritbal policy is designed to provide adequate funds to meet the needs of the child. This policy can be purchased both online and offline from Saturday, February 17, 2024. This policy offers Sum Assured through Guaranteed Addition at the rate of Rs 80 per thousand of Basic Sum Assured at the end of each policy year from inception to the end of the policy term.

Many options are available

Short term premium payment terms of 5, 6 or 7 years are available for this policy. The maximum premium payment term is 10 years. You can also choose the single premium payment option. Under this, you will have to take an insurance of at least Rs 2 lakh. If you want, you can take the maturity settlement in 5th, 10th or 15th year like a money back plan.

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Life Insurance Corporation of India (LIC) has launched a new scheme. This is a Unit-Linked Insurance Plan (ULIP). Its name is Index Plus. This is a non-participating, regular premium and individual insurance plan. This plan offers you savings along with insurance cover during the policy term. Non-participating policies are those in which no share is given in the profits of the insurance company. This means that you will not get any bonuses or dividends with the policy.

What is there in LIC Index Plus?

LIC Index Plus provides life insurance cover for the entire policy term. According to the policy brochure, if the policyholder dies during the policy term, the sum assured is paid to the nominee. Maturity benefit is also available in the policy. If the policyholder survives the policy term, he is paid the funds collected at the end of the policy. In this scheme your fund is invested in units which will be linked to the performance of the stock market. You get guaranteed returns in the scheme, which is subject to the terms and conditions of the policy. The policy has a lock-in period of 5 years. Only after this you can take out the units in parts.

Some benefits of Index Plus policy

– Low Premium: The premium of this plan is lower than other ULIP schemes.
– Guaranteed Returns: You get guaranteed returns in this scheme, which gives you a source of fixed income.

-Stock market related returns: You also get a chance to get stock market related returns in this scheme.

Some disadvantages of index policy

Market Risk: In this scheme you have to face market risk. The reason is that the performance of your fund is linked to the performance of the stock market.
Low Returns: If the stock market does not perform well then you may get low returns.
Pre-decided benefits: The benefits you receive are pre-decided and do not depend on the performance of the stock market.

Should you invest?

Whether an Index Plus policy is right for you depends on your needs and preferences. If you want a ULIP policy with low premium and the opportunity to get guaranteed benefits and stock market linked returns, then Index Plus policy can be a good option for you.

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This plan is available to any employer with 50 or more employees. Explain that apart from this scheme, LIC also offers 11 group products and a group accident benefit rider to its customers.

LIC Group Post Retirement Medical Benefit Scheme

LIC Group Post Retirement Medical Benefit Scheme is a non-linked, non-participating, life, group savings insurance product. According to LIC, under this scheme, employees will be able to take advantage of medical benefits after retirement. This scheme helps in fulfilling the responsibility of the employer related to the medical benefits of the employees.

Life cover benefit

The plan also provides a fixed life cover benefit (Sum Assured) to the employees. Any employer who wants to fund the benefit of their employees can apply for this scheme.

LIC said in a regulatory filing, “Pursuant to Regulation 30 of the Securities and Exchange Board of India Regulation 2015, you are informed that the Corporation has announced the launch of its new product on May 02, 2023.”

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LIC plan number 914

Life Insurance Corporation of India (LIC) brings many beneficial schemes for its customers, due to which investors get manifold profits. One such plan number of LIC is 914. The one you can trust with your eyes closed. By investing in this scheme, your better tomorrow will start. Let us tell you that in this special scheme of LIC, a person of minimum 8 years and maximum 55 years can open an account.

It is worth noting that in this scheme one has to invest for a minimum of 12 years and can invest for a maximum of 35 years. So at least in this scheme you have to keep the sum assured amount (insurance amount) of Rs 1 lakh.

Return of more than 48 lakhs in investment of 2 thousand

In this special scheme of Life Insurance Corporation of India (LIC), if a person starts investing from the age of 20, then he will have to get a term of 35 years. With which the policyholder will get insurance of 10 lakhs.

Investors will have to deposit a monthly premium of Rs 2079. Due to which 24948 rupees will be spent in the year. The special thing is that under this scheme, after 35 years, the investor will get a return of Rs 48 lakh 40 thousand.

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