There are five additional riders offered under Bima Jyoti Plan. To extend the coverage of your policy, you can select and purchase additional riders from the list below.
Accidental Death and Disability Rider:
Under this policy, the policyholder is liable to receive accidental death and disability benefit amount accompanying the death benefit in a lump sum.
Accidental Benefit Rider:
A policyholder is entitled to receive this rider benefit only during the duration of paying the premium. Anyone who buys an accidental benefit rider along with their base insurance policy will receive the sum assured as a lump sum and a death benefit. You can buy this rider anytime during the policy term.
New Term Assurance Rider:
A policyholder can purchase this rider benefit only at the beginning of the policy. However, the coverage under this benefit can be availed of throughout the policy period. In case the rider is chosen as an amount equal to the term assurance rider is payable on the demise of the policyholder during the policy term.
New Critical Illness Benefit Rider:
This rider benefit can be purchased only at the beginning of the policy, but an insured can receive the benefits of the rider throughout the policy term. The policyholder is entitled to get the critical illness sum assured for the diagnosis of any specified critical illness that is mentioned in the rider.
Premium Waiver Rider Benefit:
Through this additional rider benefit, the nominees of the policyholder do not have to pay any future premiums. A policyholder can buy this rider anytime during the policy period. However, policyholders over 70 years of age are not eligible to buy waiver rider benefits.
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
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.
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