LIC of India Jeevan Plus

Are you interested in discovering the Jeevan Plus plan of LIC of India? Do you want to learn about LIC as stationed in India? Read our guide for more facts and information…

LIC of India is one of the primary life assurance corporations of the country. The company offers a variety of plans and options that have been developed since the establishment of the business over 50 years ago. The LIC of India assures approximately 220 million lives. The firm operates all over India with their corporate offices are situated in the city of Mumbai. Numerous employees and locations are necessary to provide life insurance to the clients; these needs are met in part by 100 divisional offices and agents stationed throughout India.

Life insurance in general debuted in India over 100 years ago and since that time the business is based on a process founded in trust. LIC of India strives to instil trust in their clients as the company provides security for the clients allowing them to enjoy their lives. LIC of India is a transnational business that represents the country not only domestically but also the world. The employees of LIC are highly valued and the company in turn strives for maximum involvement from their staff. The company of LIC India has received many national awards for their service. It is also of note that LIC of India offers life insurance to women that is equal to that offered to men as long as proof of employment exists. The company also will impose restrictions on life insurance in certain circumstances.

The Purchase

One of the most common plans offered by LIC of India is the jeevan plus package. This package has a minimum payment of 5000Rs. The premium on the plan can be paid either annually, bi-annually, or quarterly. Premiums can also be paid through a top-up program where instalments can be paid in advance. It is also of note that a plan from LIC of India allows for switches in fund types up to four times annually. The jeevan plus package cannot be reinstated once it has been surrendered no matter the length of time. It is also of note that the jeevan plus package and any other package purchased from LIC of India allow for a 15 day cooling off period in which the policy can be cancelled with no penalty.

The Offer Plan

The jeevan plus plan of LIC of India is a unit linked whole life plan. The plan offers the benefits of investments plus the security of the insurance coverage. The plan includes some variety as the level of coverage can be selected. The jeevan plus plan includes the feature of auto-cover which means for a limited time the premium payments will be covered if the client is unable to pay. The plan also includes the minimum guarantee of a growth rate of 3% annually. It is important to note that the jeevan plus plan will contain exclusions or a total void in policy in instances of suicide.

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