Life Insurance Corporation of India has introduced LIC’s Bachat Plus a Non-Linked, Participating, Individual, Savings Plan which offers a combination of protection and savings.

This plan provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. The proposer can choose to pay the premium either as Lumpsum (Single Premium) or for a limited period of 5 years.

An option to choose Sum Assured on Death is provided under this plan as per the two options available under each of Single Premium and Limited Premium payment.

If the policyholder dies after the completion of the policy but before the stipulated date of maturity, the sum assured on death will be paid along with loyalty addition. The minimum basic sum assured is Rs 1 lakh and there is no upper limit. A high basic sum assured rebate is offered for both modes of premium payments.

The policy can be purchased Offline through agent /other intermediaries as well as Online directly through website www.licindia.in.

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