PERSONAL FINANCE
LIC's BIMA JYOTI plan offers coverage for natural and accidental death and monthly income.
LIC's BIMA JYOTI is a life insurance plan that provides a range of benefits to policyholders. The plan offers coverage for natural as well as accidental death, and also provides a fixed amount of money as a monthly income to the policyholder's family in the event of the policyholder's death.
Know how much returns you may get:
The amount of money that a policyholder can expect to receive in return for their investment in the LIC's BIMA JYOTI plan depends on a number of factors, such as the policyholder's age, the amount of the premium, and the term of the policy.
The minimum amount that can be invested in the BIMA JYOTI plan is Rs. 10,000 per year, while the maximum amount will depend on the policyholder's age and the term of the policy. For instance, a 40-year-old policyholder may be able to invest up to Rs. 20,000 per year for a term of 20 years.
As a general rule of thumb, the older the policyholder is, the lower the amount of the monthly income that they can expect to receive in the event of their death. For example, if a 30-year-old policyholder invests a premium of Rs. 10,000 per year for a term of 20 years, they can expect to receive a monthly income of Rs. 5,000 in the event of their death.
On the other hand, if a 40-year-old policyholder invests the same amount of money (Rs. 10,000 per year) for the same term (20 years), they can expect to receive a monthly income of Rs. 4,500 in the event of their death. This means that the policyholder's family would receive a total of Rs. 1,08,000 per year for a period of 20 years.
Therefore, the amount of money that a policyholder can expect to receive in return for their investment in the BIMA JYOTI plan will depend on a number of factors, such as their age and the amount of the premium. However, as a general rule of thumb, a policyholder who invests a larger amount of money in the plan can expect to receive a higher return on their investment.
Benefits of the scheme:
One of the key benefits of the BIMA JYOTI plan is that it provides policyholders with financial security in the event of their death. This can be particularly important for individuals who are the sole breadwinners in their family, as it can help to ensure that their loved ones are taken care of financially even in their absence.
In addition to providing financial security, the BIMA JYOTI plan also offers policyholders a number of other benefits. For instance, the plan provides coverage for accidental death, which can be particularly useful for individuals who are engaged in high-risk activities or occupations.
Furthermore, the BIMA JYOTI plan also provides policyholders with the option to receive their monthly income through a variety of channels, such as a bank account or a post office account. This can make it easier for policyholders to access their money and use it to meet their financial needs.
Know how to apply for the BIMA JYOTI plan:
To apply for the LIC's BIMA JYOTI plan, you will need to visit your nearest LIC branch and speak with a representative. You can find your nearest branch by visiting the LIC website and using the branch locator tool.
When you visit the branch, you will need to fill out an application form and provide the required documents, such as proof of identity and proof of address. You will also need to pay the premium for the plan and choose the term of the policy.
Once your application has been processed and accepted, you will receive a policy document that outlines the terms and conditions of your coverage, as well as the amount of the premium and the term of the policy.
It is important to carefully read and understand the terms and conditions of the policy before signing the application form and paying the premium. You can also speak with a representative at the branch for more information and to clarify any doubts or concerns you may have.
Guru Nanak Jayanti 2024: Know date, time and significance of festival
DSP tracks down vegetable vendor after 14 years, reason will leave you surprised
Chennai Rain Alert: Heavy showers expected today, IMD issues warning to 11 districts
Ankur Warikoo shares details about his annual salary, reveals he earns Rs...
Donald Trump chooses Elon Musk to lead THIS new Department, it is...
Jharkhand Assembly Elections 2024 LIVE UPDATES: Voting for first phase begins
IND vs SA: Arshdeep Singh on verge of scripting history, need 8 wickets to achieve THIS massive feat
Bulldozer justice: SC to pronounce verdict today on pleas for guidelines on demolition of properties
IND vs SA, 3rd T20I: Predicted playing XIs, live streaming details, weather and pitch report
Russia plans to boost birth rate with 'Ministry of Sex', here's how
Jharkhand HC issues notice to MS Dhoni in business deal case, asks him to...
IND vs SA, 3rd T20I Dream11 prediction: Fantasy cricket tips for India vs South Africa match
Meet IAS officer, aka 'Collector Bro', who cracked UPSC exam in 2007, now suspended due to...
Here’s why Chunky Panday wouldn’t stay in Shah Rukh Khan’s house in London
Yash's Toxic in trouble? FIR filed against producers of KGF star's upcoming actioner for illegal...
Meet Dr Priti Challa, Kangana Ranaut film director Krish Jagarlamudi's second wife, she leads...
Yaariyan actor Himansh Kohli ties the knot with mystery girl in Delhi temple, first wedding pics out
‘Sometimes I wish I was more tough, more thick-skinned,’ says Aishwarya Rai in viral video
KL Rahul sweats hard in Perth nets ahead of BGT series, WATCH video here
Shahid Kapoor, wife Mira Kapoor rent out their Rs 580000000 luxury Mumbai apartment for Rs...
South Korean actor Song Jae-rim dies at 39 in Seoul apartment
Viral video: Thar SUV gets stuck on railway track after man tries to shoot reel, watch here
Elon Musk's new X post claims Putin must not be blamed for Russia-Ukraine war, instead names…
Fabulous Lives vs Bollywood Wives fame Shalini Passi reveals 'Mom used chilli powder in my...'
My experiences with dating apps
Zomato CEO Deepinder Goyal reveals how company got its name, says 'we wanted…'
Key Differences Between the Indian Stock Market and Global Indices
Stock prices vs company valuation: Is your stock worth it?
Navjot Singh Sidhu is back on Kapil Sharma's show after five years, but there's a twist
Mukesh Ambani set to invest Rs 65000 crore in THIS Indian state, it will be Reliance's biggest...
Mohammed Shami to return to competitive cricket; star pacer set to play for…
Makoons World School brings a new approach to K-12 education across India
Pakistan Cricket looking to take BIG step on Champions Trophy issue, planning to...
Did Isha Ambani lend Neetu Kapoor her Navratna necklace? Reddit users react
J-K: Gunfight underway between security forces and terrorists in Bandipora
Viral video shows women as 'live mannequins' in mall, sparks fury; WATCH
As Vistara bids goodbye, Air India-Vistara's first flight takes off from Mumbai to...
GATE 2025 Schedule: Exams to begin from February 1; Check full timetable here
CBSE announces BIG changes in Class 10,12 board exams 2025, know details here
Veteran Bengali actor Manoj Mitra dies at 86
Isha Ambani graces Diwali party as she walks with her twins, husband, WATCH
Donald Trump plans to pick Marco Rubio as US Secretary of State: Report
Vadodara IOCL refinery fire: Death toll rises to 2; probe underway
Shah Rukh Khan death threat: Mumbai police arrest accused from Chhattisgarh's Raipur
Delhi reports record high chikungunya, malaria cases in 5 years
Japan's Nara deer's polite bow to Indian woman leaves netizens in awe, WATCH