LIC Coverage: New Cash Again Plan-20 Years may be bought by any particular person between age of 13 years and 50 years for minimal sum assured of Rs 1 lakh.
LIC New Cash Again Plan-20 Years may be bought by any particular person between the age of 13 years and most age of 50 years for minimal sum assured of Rs 1 lakh, based on LIC’s web site.
The coverage time period of LIC New Cash Again Plan is 20 years and the premium paying time period is 15 years, LIC famous on its web site.
Life Insurance coverage Company (LIC) of India, the nation’s largest life insurance coverage firm, gives varied life insurance coverage merchandise or life insurance coverage insurance policies. LIC’s life insurance coverage insurance policies embrace time period insurance coverage, endowment insurance coverage, pension plans and a reimbursement plans amongst others like unit linked insurance coverage. LIC New Cash Again Plan-20 Years, is likely one of the a reimbursement plan being provided by the corporate which gives safety in opposition to dying all through the time period of the plan together with the periodic fee on survival at specified durations through the coverage time period, based on LIC’s web site www.licindia.in.
On maturity of the LIC coverage, if the person is surviving, 40 per cent of the fundamental sum assured together with easy reversionary bonuses and remaining further bonus, if any, shall be payable to the coverage holder, LIC stated.
A reimbursement or the periodic fee on survival beneath the LIC New Cash Again Plan-20 Years is 20 per cent of the fundamental sum assured on the finish of fifth, tenth and fifteenth coverage 12 months.
In case the coverage holder dies through the coverage time period and had paid all premiums, the nominee or authorized inheritor of the coverage holder will get 125 per cent of the fundamental sum assured or 10 instances of annualized premium, LIC added.
Premiums may be paid commonly at yearly, half-yearly, quarterly or month-to-month foundation over the time period of coverage, based on LIC.
If premiums should not paid throughout the grace interval then the coverage will lapse. A lapsed coverage may be revived inside a interval of two consecutive years from the date of first unpaid premium however earlier than the date of maturity by paying all of the arrears of premium along with curiosity, LIC added.