LIC plan: Get Rs 75,000 life insurance cover for just Rs 100 – Know details

The pandemic has taught many lessons, with one of them being financial security. People have become more aware and cautious about their life and health insurance covers. Several health and life insurance policies have also been launched by the government for the common man. One of them is the Life Insurance Corporation (LIC) Aam Aadmi Bima Yojana.

This plan from LIC, the country’s largest insurer, gives life-time policy as well as accidental death cover. As per the details of the policy, a life insurance cover of Rs 30,000 is provided to the insured individual in the case of natural death during the tenure of the policy.

Furthermore, insured persons under the Aam Aadmi Bima Yojana also qualify for accidental death or disability benefit in case of suffering an accident during the policy term. The policy holder stands eligible for receiving Rs 37,500 for accidental disability. In case of accidental death of the insured, the nominee in the policy will receive Rs 75,000 life insurance cover.

Eligibility and premium details for LIC Aam Aadmi Bima Yojana

This policy can be taken by any person who falls in the age bracket between 18 and 59 years.

The premium to be paid per annum for the plan is Rs 200. Out of this amount, 50 percent part which comes to Rs 100 will be borne by respective state or union territory government of the insured. This means that the policy holder will need to invest only Rs 100 to secure a Rs 75,000 insurance cover.

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