LIC’s Bucht Plus  861 Premium , Maturity Benefits

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LIC’s Bucht Plus  861

 No Stock Market Risks (Risk Free Return),Do not pay premium till maturity year. It is sufficient to pay the premium for a specified period. Short term plan,Cost premiums of 80 C under the Income Tax Exemption . The maturity amount is exempt from income tax under 10 ( 10D)

Eligible age to take the policy

  • Single Premium (Single Premium)

Maximum age

  1. 60 years old (Option A)
  2. 65 years old (Option B)

Premium payment period

  • Single premium
  • May pay premium for 5 years

Policy term

  • 10to 25 years

Debt and repayment period

  • The loan can be obtained after 2 years
  • The loan can be repaid after 2 years

Discounts and offers

Basic insurance (basic insurance )

  • Up to Rs75 lakh
  • 2lakhs- 5 lakhs
  • 5lakhs – 5 lakhs
  • 10lakhs

Offer per 1 ௦௦௦ sum insured (policy year 10-20)

  • 2lakh- 5 lakh – 25 years
  • 5lakhs – 5 lakhs – 4 5 years
  • 10lakh – 50 years

Offer per 1 ௦௦௦ sum insured (policy year 10-25)

  • 2lakh- 5 lakh – 35 years
  • 5lakh – 9,5 lakh – 55 years
  • 10lakh – 60 years

Benefit of death

  • If the policyholder dies during the term of the policy, the sum assured will be paid to the heir
  • Death Insurance Amount and Loyalty Addition (Policy Year End)

Details of death benefit insurance

  • Single premium

Option A)-10 times the annual premium

Option B)-1.25 times the annual premium

  • 5year premium

Option A-10 times the annual premium

Option B-7 times the annual premium

Benefit of maturity

  • At the maturity of the plan, e. at the end of the policy term, the policyholder will receive the following amount.
  • Receives basic sum assured and fiduciary addition

For Example

Option A) 30 years 10 lakh insurance 25 year plan

  • Single Premium (Single Premium) – 425838
  • IRR -38%
  • After waiting for25 years, the maturity amount will be Rs. 20 , 00 , 1

Option B) 30 years 10 lakh insurance 25 year plan

The death benefit is less for the insurer who chooses this option . The tax value is very low.

  • Single Premium (Single Premium) -300333
  • IRR – 88%
  • 25-year wait after the maturity amount of Rs20, 00, 000 Available in lakhs.

Option C) 30 years 10 lakh insurance 25 year plan

  • The annual premium is Rs.82823
  • The total amount to be built for5 years is  Rs.415937
  • IRR -04%

The total amount after 20 years of waiting is Rs.20 lakh

Conclusion

LIC’s Bucht Plus  861 Insurance is very useful for us .It is an important part of our lives and after life .It is confident that it will be an anchor not only for us but also for our family.

 

LIC Bachat Plus

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