LIC has introduced a new pure risk plan called ‘Bima Kavach’. It offers customers enhanced life cover, protection up to age 100, and flexible premium payment options.
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LIC new ‘Bima Kavach’ plan: The Life Insurance Corporation of India (LIC) has launched the “Bima Kavach” plan, targeting the middle-income and working-class population. It is non-linked and non-participating. This plan primarily aims to provide financial security to the insured’s family in the event of future unforeseen events. Customers will receive higher coverage at a lower premium. You can purchase it online or offline through an agent.
Choose the Sum Assured as Per Your Needs
The key feature of this plan is its sum assured options. Customers can choose between a fixed sum assured or an increasing sum assured, depending on their needs. Responsibilities increase over time, so the increasing sum assured option better meets your future needs.
Protection up to 100 years and easy premiums
This LIC plan is ideal for those seeking long-term protection. It provides life-long risk cover up to the age of 100. The company also offers flexible premium payment options. You can pay a single premium, regularly, or for a limited period of 5, 10, or 15 years.
Protection will increase based on life stage
There’s also a special option to increase protection at important life stages, such as marriage or the birth of a child. However, this “Life Stage Event” option is only available for those aged 40 or younger. Furthermore, this feature is only applicable to the “Equal Sum Assured” option with regular premiums.
What is the eligibility?
1. Any Indian citizen can benefit from this plan.
2. To benefit from the insurance coverage, a person must be healthy. A medical checkup is required first.
3. If the customer is a non-smoker, they will receive higher benefits at a lower premium.
4. Individuals between the ages of 18 and 65 can apply for the plan.
How to avail the plan and what precautions should you take?
For more information about this plan, you can use the LIC website (www.licindia.in) or mobile app. You can also contact us on WhatsApp number 8976862090. LIC has warned customers that IRDAI never calls to sell policies or offer bonuses. If you receive such fraudulent calls, immediately report them to the police.
