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Founded in 1956, Life Insurance Corporation of India (LIC) is the largest life insurance company in the country with a total income of Rs. 492626.60 crore and total assets worth Rs. 2572028.34 Cr It’s fully owned by the Government of India & is also the county’s largest investor.
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Plan No. 873
Regular Premium Unit Linked Plan with benefits of Insurance and Investment.
Guaranteed additions shall be added and converted to units at pre-defined specific intervals.
Lower charges ensure better returns at the time of maturity.
Insurance coverage will be 7 times if age is above 55 and 10 times for others.
You can choose to invest your money in any of the following 2 funds available. I) Flexi Growth Fund II) Flexi Smart Growth Fund.
A policyholder can partially withdraw the units at any time after five policy years.
Policy can be surrendered at any time during the policy term.
Four switches will be allowed free of cost in a policy year.
Option to choose Double Accidental Death Benefit up to Rs.1 Crore.
In case of Death of Policyholder, nominee will get the Fund Value or Sum Assured whichever is higher.
On Maturity the policyholder will get the amount equal to the Fund value of the units.
Death Benefit can be opted by exercising 'Settlement Option.
Enjoy Income tax benefit under section 80C.
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