The LIC Bhagya Lakshmi Plan-939 Policy from the Life Insurance Corporation of India (LIC) is a micro-insurance plan designed to offer financial protection with minimal premium payments.
This policy is perfect for those looking for affordable life coverage, especially individuals from low-income groups who want to secure their family’s financial future without the burden of high premiums. LIC Bhagya Lakshmi ensures that even a small investment can go a long way in providing security to loved ones.
What is LIC Bhagya Lakshmi Plan-939 Policy?
LIC Bhagya Lakshmi Plan-939 is a non-participating, non-linked micro-insurance plan that provides a combination of protection and savings. It is aimed at low-income individuals who seek simple life insurance coverage without complicated terms or high premium costs. The policy is structured to provide life insurance cover, and upon surviving the policy term, policyholders get back 110% of their premiums paid, making it a win-win plan for policyholders and their families.
Key Features of LIC Bhagya Lakshmi Plan-939
- Affordable Premiums: LIC Bhagya Lakshmi Plan-939 is designed for low-income individuals, with affordable premiums that make life coverage accessible to more people.
- Return of Premiums: The policy returns 110% of the premiums paid if the policyholder survives the policy term, ensuring a savings benefit as well.
- Life Cover Protection: In the unfortunate event of the policyholder’s passing, the sum assured is provided to the nominee, offering financial security to the family.
- Fixed Term and Sum Assured: The policy offers flexibility with fixed terms and coverage amounts, making it easy to plan.
- No Medical Check-up: LIC Bhagya Lakshmi Plan-939 generally does not require a medical check-up, making it easy to enroll in for most applicants.
Why Choose LIC Bhagya Lakshmi Plan-939?
- Financial Protection on a Budget: This policy offers a dependable way to secure your family’s future with minimal financial commitment, making it ideal for individuals with limited income.
- Savings Component with Return of Premium: With 110% of premiums returned upon maturity, LIC Bhagya Lakshmi Plan-939 is not only life insurance but also a form of saving.
- Simplified Application Process: The policy is designed for simplicity, often not requiring medical tests, and has straightforward eligibility criteria.
- Flexible Premium Payment Options: Choose from annual, half-yearly, quarterly, or monthly premium payment modes to fit your budget.
Eligibility for LIC Bhagya Lakshmi Plan-939 Policy
| Feature | Details |
|---|---|
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 55 years |
| Policy Term | 5 to 13 years |
| Minimum Sum Assured | ₹20,000 |
| Maximum Sum Assured | ₹50,000 |
| Premium Payment Modes | Annual, Half-yearly, Quarterly, Monthly |
Benefits of LIC Bhagya Lakshmi Plan-939 Policy
The LIC Bhagya Lakshmi Plan-939 Policy provides several key benefits that offer financial support and peace of mind. Here’s what you can expect from this plan:
- Death Benefit: If the policyholder passes away during the policy term, the nominee receives the sum assured, helping to provide financial stability for the family during a challenging time.
- Maturity Benefit: If the policyholder survives the policy term, they receive 110% of the total premiums paid, providing a meaningful return on investment.
- Flexible Premium Payment Options: You can choose from different premium payment modes that best suit your budget and financial situation.
- No Medical Check-up: LIC Bhagya Lakshmi generally does not require a medical examination, simplifying the application process and making it accessible.
How to Apply for LIC Bhagya Lakshmi?
You can apply for LIC Bhagya Lakshmi Plan-939 by visiting an LIC branch or contacting an LIC agent. Ensure you review all policy details, eligibility requirements, and required documentation to make the application process smooth and straightforward.
FAQs
1. Who can buy LIC Bhagya Lakshmi Policy?
- LIC Bhagya Lakshmi is available for individuals aged 18 to 55 years, making it suitable for adults from various backgrounds looking for affordable life insurance.
2. What maturity benefit is offered under LIC Bhagya Lakshmi?
- If the policyholder survives the term, they receive 110% of the total premiums paid, giving them a return on their savings.
3. Does LIC Bhagya Lakshmi require a medical check-up?
- Typically, this policy does not require a medical check-up, simplifying the application process and making it accessible to most individuals.
4. What premium payment options are available for LIC Bhagya Lakshmi?
- Premiums can be paid annually, half-yearly, quarterly, or monthly, allowing you to select the most convenient payment frequency.
5. What is the minimum and maximum sum assured under this policy?
- The sum assured ranges from ₹20,000 to ₹50,000, allowing flexibility in coverage based on your financial needs.
Conclusion
The LIC Bhagya Lakshmi Policy is a valuable plan for individuals looking for low-cost life insurance coverage with a savings benefit. Its affordable premiums, straightforward application process, and return of 110% of premiums paid make it an attractive option for those with limited budgets who still want to secure their family’s future. LIC Bhagya Lakshmi helps you plan ahead, ensuring that even a small investment can create financial security and peace of mind for you and your loved ones.
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