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LIC Bima Jyoti Plan Life Insurance Eligibility

5 reviews Rate This
Highlights
Claim Settlement Ratio98.62%
Customer Care8:00 AM to 8:00 PM
Death Benefit Paid For73,3809 Policies
Inception1956
Presence2048 Branches
Total Death Benefit Paid12797.85 Crore

Basis

Maximum

Minimum

Sum Assured

No Limit

Rs. 1,00,000

Entry Age

60 Years

90 Days

Maturity Age

75 Years

18 Years

Policy Period

15-20 Years

Premium Payable Term

Policy Term-5 Years

Key Inclusions and Exclusions of the Plan

What's Not Included

  • Under LIC Bima Jyoti, the insurance company does not compensate any claim amount in case the policyholder commits suicide within 12 months of the commencement of the plan. However, the policyholder is entitled to receive 80% of the total premium paid, excluding any taxes, riders' benefits, and others mentioned in the policy document. Only those policyholders who are over the age of 8 are qualified to receive the aforementioned return amount in a suicide case. Apart from this, the insurance companies are not liable to pay anything if the policy lapses without acquiring paid-up value.

LIC Bima Jyoti Reviews

4.6
Rating based on
5 User reviews
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    I am quite satisfied with the team of InsuranceDekho. The experts helped me a lot while I was looking for an ideal savings plan. Due to their guidance, I was able to get the LIC of India- LIC Bima Jyoti issued

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    On: Aug 09, 2023
  • Buy Insurance From the Best

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    On: Jul 19, 2023
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    Buying a life insurance plan from InsuranceDekho is so easy. So, I selected the LIC of India- LIC Bima Jyoti available on InsuranceDekho and then read about how to buy it. Overall, the process of purchasing a life plan was easy.

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    By Saumya Shukla
    On: Jul 10, 2023
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    By Anita Shukla
    On: Jul 04, 2023
  • Access to Reputable Services

    Having a wide network of reputable service providers is essential when it comes to life insurance. The LIC Life Insurance Policy offers access to a diverse range of professionals, including lawyers, financial advisors, and grief counselors. It's reassuring to know that I can rely on a reliable network of experts to assist with important matters related to my policy and estate planning.

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    S
    By Siddhart Tiwari
    On: Jun 12, 2023
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LIC of India Life Insurance Plan List

    Name of PlanSum Assured
    LIC Jeevan Umang20 lac - 10 cr Check Premium
    LIC SIIP20 lac - 10 cr Check Premium
    LIC Jeevan Anand20 lac - 10 cr Check Premium
    LIC Jeevan Labh20 lac - 10 cr Check Premium

    FAQs on LIC Bima Jyoti Health Insurance Plan

    • What documents will be required to claim LIC Bima Jyoti Plan?

      You shall submit the duly filled claim form along with the original policy document, proof of death, medical reports and invoices for the treatment, and a certificate of the profession. In order to file a claim, the nominees must inform LIC of the death in writing within 90 days at the company’s corporate office.

       

    • What is the grace period to pay the outstanding premium under the Bima Jyoti Plan?

      For the payment of annual, half-yearly, or quarterly premiums, a grace period of 30 days and 15 days from the date of the first unpaid premium shall be permitted. However, if the premium is not paid within the grace period, the policy may lapse. 

       

    • Am I eligible to get discounts on premiums?

      Depending on your sum assured, payment mode, premium payment term, and other factors, the insurance company may provide you with rebates and discounts on your premium. 

       

    • What premium payment modes are available under the LIC Bima Jyoti Plan?

      You can either choose to pay your premium on a monthly basis or on a quarterly, half-yearly, or annual basis. 

       

    • Within how many days I can discontinue my Bima Jyoti Plan?

      You can terminate your policy within 15 days of offline purchase and 30 days of buying through the online mode. 

       

    LIC of India Life Insurance Contact Details

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