LIC Insurance Ratna Policy: As soon as the name of the insurance policy comes, you would think that what will happen after my death. So let me tell you, intelligent people do such things while they are alive that even after they are not in this world, their family does not spread their hands in front of anyone. How will it be if you take such an insurance policy, from which you can get the benefit of it while you are alive, and even after death.
Family will get benefit on your death
Today we are giving you information about one such policy, in which after your death the family will get benefit, as well as your savings. We are talking about the Bima Ratna Scheme of LIC (Life Insurance Corporation), which was launched by the government in the month of May this year.
7 times benefit in death benefits
If you invest in LIC’s Bima Ratna policy, then on the death of the person during the term of the policy, the payment will be received from LIC. On death, you will get up to 125% of the Basic Sum Insured or up to 7 times the annual premium, whichever is higher, from LIC. Let us tell you that the money received on the death of the insured will be at least 105 percent of the premium paid till the day of death.
Benefits of survival benefits in the policy
Under this plan of LIC, you will get the benefit of survival benefit. If you survive till the end of the plan period then you will get the benefit. Suppose if you have planned for a tenure of 15 years, then at the end of 13th and 14th year you will have to pay 25-25% of the Basic Sum Insured. Similarly, in the 20 year plan, this payment will be made at the end of the 18th and 19th year, while in the 25 year plan this payment will be done at the end of the 23rd and 24th year.
Will get benefit on maturity
If an insured survives till the stipulated date of maturity, he/she will get 50 per cent of the Basic Sum Insured. Let us tell you that there is also some guaranteed bonus with this. There is a guaranteed bonus of Rs.50 per Rs.1000 from 1st year to 5th year. At the same time, from the 11th to the 25th year, you will get the benefit of guaranteed bonus at the rate of Rs 60 per 1000 rupees.
keep these things in mind
Under this plan, you have to take an insurance plan of at least Rs 5 lakh sum insured. There is no maximum plan. The policy will be for a term of 15, 20 and 25 years. A 15-year policy will have to pay a premium for 11 years, a 20-year policy will have to pay a premium for 16 years, while a 25-year policy will have to pay a premium for 21 years.
Understand the whole policy like this
Suppose you are 30 years old. And taking Bima Ratna policy of LIC for a term of 25 years for a sum insured of 5 lakhs. Now you have to pay premium for 21 years. The annual premium for 1 year will come to around Rs 30,900 and he will pay a total premium of Rs 6,49,559 in 21 years. Now on the death of the life insured under the term of the policy, he will be paid up to 125% of the sum insured. On the other hand, if he survives, he will get Rs 1.25 lakh in the 23rd year and Rs 1.25 lakh in the 24th year. After this, on the maturity of the 25th year, the remaining 2.5 lakh rupees will be available. In so many days, he will get a guaranteed bonus of about Rs 7,12,500. That is, all in all, he will get about Rs 12,12,500 in the 25th year.