LIC Bachat Plus Policy Plan 861: New insurance scheme! Protection, savings, loans - Check how to buy online and other important insurance details

LIC Bachat Plus Scheme New Policy 2021: In a major development, Life Insurance Corporation (LIC) on Monday said that it has introduced a new policy, Bachat Plus that offers a combination of protection and savings.

LIC's Bachat Plus is a Non-Linked, Participating, Individual, Life Assurance Savings Plan.

LIC's BACHAT PLUS (UIN - 512N340V01)

LIC's Bachat Plus plan is a Non-Linked, Participating, Individual Life Assurance Savings plan. Under this plan, the premium can be paid either as Lump Sum (Single Premium) or as Limited Premium with a Premium Payment Term of 5 years.

Under each of these premium payment options the proposer will have two options to choose “Sum Assured on Death”.

This plan will also be available through online application process.

LIC BACHAT PLUS PLAN 861 2021: Buy online

https://onlinesales.licindia.in/eSales/liconline/setprop

The plan, with a five-year maturity, provides financial support for the family of the deceased policy holder any time before maturity and a lump sum amount at the time of maturity for the surviving policy holder,  Life Insurance Corporation said.

It gives an option to choose 'sum assured on death' for both single premium and limited premium payment modes.

If the policyholder dies after the completion of policy but before the stipulated date of maturity, the sum assured on death will be paid along with loyalty addition.

LIC OF INDIA LAUNCHES NEW PLAN - LIC's BACHAT PLUS pic.twitter.com/itnmkwD7fl

— LIC India Forever (@LICIndiaForever) March 15, 2021

The minimum basic sum assured is Rs 1 lakh and there is no upper limit. High basic sum assured rebate is offered for both modes of premium payments.

LIC's Bachat Plus - A Non-Linked, Participating, Individual, Life Assurance Savings Plan.

TO BUY ONLINE: https://t.co/Hg0VnfEuwR pic.twitter.com/vb82t6gi77

— LIC India Forever (@LICIndiaForever) March 16, 2021

This plan also takes care of liquidity needs through its loan facility.