The oldest and largest government insurance firm in the nation, Life Insurance Corporation of India, offers multiple plans to its clients and occasionally introduces new ones. We are describing one such LIC policy to you today. You can make a sizable return on your investment in this. We are discussing the Bima Ratna LIC policy. Learn all the pertinent information about this plan here.
The Life Insurance Corporation of India offers the Bima Ratna LIC Policy
a savings-based life insurance policy. This individual plan is non-linked and non-participating, and it is available through corporate agents, brokers, insurance marketing companies, and common service centers. Through periodic payouts, the plan assists in addressing a variety of financial demands and offers financial support to the policyholder’s family in the event of their passing during the policy’s term.
Premium payment of LIC Policy
Its premium can be paid on a monthly, quarterly, half-yearly, or annual basis. The grace period for previously unpaid premiums is 15 days for monthly rates and 30 days for annual, half-yearly, or quarterly premiums. 
These options are available for insurance.
The Bima Ratna LIC policy comes in three lengths: 15, 20, and 25 years. Depending on the length of the policy, the premium is paid over a shorter period of time. Assume that investors choosing a 20-year term will pay premiums for 16 years, policyholders choosing a 15-year term will pay premiums for 11 years, and those choosing a 25-year term would pay premiums for 21 years.
LIC Policy Obtains Sufficient Returns
You can get a profit of almost Rs 9,00,000 on an investment of Rs 5 lakh in this LIC policy over a period of 15 years. If your minimum monthly premium is Rs. 5,000, you will save Rs. 166 every day as a result.
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