LIC’s new ‘Bima Kavach’ scheme : The Life Insurance Corporation of India (LIC) has introduced the “Bima Kavach” plan, which is aimed at the middle and working classes. It is not linked or participating. This policy is primarily designed to give financial security to the insured’s family in the case of future unanticipated catastrophes. Customers will have more coverage at a lesser cost. You can buy it either online or through an agent.
‘Bima Kavach’ scheme : Choose the Sum Assured based on your needs.
The sum assured alternatives are the plan’s most important aspect. Customers can choose between a fixed sum assured and a rising sum assured based on their requirements. As your responsibilities grow, the growing sum assured choice will better meet your future needs.
Protection for up to 100 years and affordable premiums
This LIC plan is suited for those who want long-term coverage. It gives lifelong risk coverage until the age of 100. The company also provides flexible premium payment choices. You can pay a single premium on a regular basis or for a certain number of years, such as 5, 10, or 15.
Protection will grow according to life stage.
There is also a specific option to improve protection for significant life events, such as marriage or childbirth. However, the “Life Stage Event” option is only available to persons under the age of 40. Furthermore, this feature only applies to the “Equal Sum Assured” option with regular premiums.
What is the eligibility?
1. This plan is available to all Indian citizens.
2. To benefit from insurance coverage, a person must be in good health. A medical exam is required initially.
3. If the customer is not a smoker, they will obtain more advantages for a lesser price.
4. Anyone between the ages of 18 and 65 can apply for the plan.
How do you access the plan, and what safeguards should you take?
To learn more about this plan, visit the LIC website (www.licindia.in) or download the mobile app. You can also contact us via WhatsApp at 8976862090. LIC has advised clients that IRDAI never calls to market insurance or provide bonuses. If you receive such bogus calls, immediately notify the police.
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