Secure Your Future with Guaranteed Returns

LIC’s Bima Lakshmi Plan – Secure Your Future with Guaranteed Returns

The Life Insurance Corporation of India (LIC) has always been known for offering dependable life insurance products that combine protection and savings. One of its popular limited premium paying, non-linked, non-participating plans — LIC’s Bima Lakshmi Plan — offers both life cover and guaranteed maturity benefits, making it an ideal choice for individuals looking for stability and assurance.

🌟 Overview of LIC’s Bima Lakshmi Plan

LIC’s Bima Lakshmi Plan is a limited premium, savings-cum-protection plan that provides financial protection to the family in case of the unfortunate death of the policyholder during the policy term and also ensures lump-sum benefits on survival.
It’s a perfect blend of insurance and savings, designed for those who prefer guaranteed returns along with life cover.

🔑 Key Features of LIC’s Bima Lakshmi Plan

1. Type of Plan:
   • Non-linked, non-participating, limited premium payment, endowment plan.
2. Entry Age:
   • Minimum: 90 days (completed)
   • Maximum: 50 years (nearer birthday)
3. Policy Term:
   • 15 to 25 years (flexible as per your need)
4. Premium Paying Term:
   • Policy Term minus 5 years
     (Example: For a 20-year policy, premiums are paid for 15 years)
5. Minimum Basic Sum Assured:
   • ₹2,00,000
6. Guaranteed Additions:
   • ₹50 per ₹1,000 Basic Sum Assured per year during the policy term.
7. Maturity Benefit:
   • Basic Sum Assured + Accrued Guaranteed Additions (if policyholder survives the term)
8. Death Benefit:
   • Sum Assured on Death + Accrued Guaranteed Additions payable to nominee.
9. Optional Riders:
   Enhance your cover with optional riders such as:
   • Accidental Death and Disability Benefit Rider
   • New Term Assurance Rider
   • Critical Illness Rider

💰 Benefits of LIC’s Bima Lakshmi Plan

1. Guaranteed Additions:
   Fixed guaranteed additions every year, ensuring predictable returns.
2. Dual Benefit of Protection & Savings:
   Provides financial security to your family while building a guaranteed corpus.
3. Limited Premium Payment:
   Pay premiums only for a limited period while enjoying cover for the entire term.
4. Loan Facility:
   Policyholders can avail loans after a few years, ensuring liquidity during financial needs.
5. Tax Benefits:
   • Premiums are eligible for tax deduction under Section 80C.
   • Maturity and death benefits are tax-free under Section 10(10D) (as per prevailing tax laws).

👩‍💼 Who Should Choose LIC’s Bima Lakshmi Plan?

• Individuals looking for guaranteed returns with protection
• Families seeking long-term savings goals like children’s education or marriage
• Professionals and salaried individuals who want limited premium payment options
• Those preferring safe and assured investment under LIC’s trusted brand

🧭 Conclusion

The LIC’s Bima Lakshmi Plan is an excellent choice for anyone who values financial security, steady growth, and guaranteed benefits. With its limited premium payment option and assured returns, it offers both peace of mind and wealth creation over time.