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New Delhi, LIC | Whether a man is high or low in position, he wants to secure his future according to the resources available to him. It becomes very difficult for people who work as daily wage laborers to save. In such a situation, people of this category are not able to make any kind of planning for the future. Today we are going to give you information about one such scheme, which can change the fate of such people. We are talking about the LIC Bhagyalakshmi Plan.

LIC Bhagyalakshmi Plan

Bhagyalakshmi Yojana of Life Insurance Corporation of India is a micro-insurance plan. A microinsurance plan means that it is a scheme that has been started only to help in securing the future of financially weak people. This is a plan with a low sum assured, GST does not apply to it.
Let us tell you that in Bhagyalakshmi Yojana, along with a term plan, you can also take a return premium plan. Whatever premium is paid in this scheme, term insurance is available on the same. Also, 110% of the deposit is refunded on maturity. LIC Bhagyalakshmi Plan works as an investment, savings, and insurance policy. As soon as this policy is completed, the insurance holder gets a total payment of 110% of the premium deposited. If the policyholder dies due to any reason, the death benefit is also paid to his dependents.
 

This is how you will get benefits

Suppose you are the only earning person in your family. You took LIC's Bhagyalakshmi plan of Rs 50,000 which matures in 15 years. For this, keep paying the premium annually, after paying the premium for 13 years, you will get a discount of 2% on the premium due to the payment option. If you die during the insurance coverage period, a sum assured of Rs 50000 will also be paid to your family. If you survive till the maturity of the policy i.e. 15 years, you will get 110% of the premium paid.