LIC 2 new plans: India's largest insurance company, LIC, has launched two new insurance plans for its customers, Protection Plus and Bima Kavach. Both plans are designed to be customizable for individuals with different needs. Customers will benefit from protection and savings.

Both plans aim to provide insurance that is easy to understand, full of benefits, and provides long-term assurance.

Protection Plus: Combined Benefits of Protection and Savings

This plan is ideal for those who want to combine life insurance with a small investment. Protection Plus is a linked savings plan that allows your funds to grow by linking to the market. This means both protection and growth potential.

A key feature of this plan is that you can increase or decrease your Sum Assured at a later date. This flexibility is not typically available in other plans. It also offers the option to withdraw funds after five years, providing financial support in times of need.

What makes this plan unique for customers is that you choose the premium based on your budget and needs. LIC determines your cover accordingly. Everything is transparent and simple from the start.

Benefits of LIC Protection Plus
The biggest advantage of this plan is that it can adapt to every phase of your life. For example, if your income increases, you can increase the fund value by paying a top-up premium. If you need a higher sum assured later, you can increase it. And the best part—mortality charges incurred during the policy are refunded upon maturity. This means that the amount you pay for life cover is also repaid in the end.

Bima Kavach: A Plan to Protect Your Family
Now let's talk about LIC's second plan, Bima Kavach. It is a simple yet powerful pure risk plan. This means that if something unfortunate happens to the policyholder, their family receives immediate financial protection. Whether the market is up or down, it doesn't matter.

The biggest advantage of this plan is that you can choose between two types of death benefits: a fixed sum assured or an increasing sum assured, which increases annually. For those concerned about future inflation, the increasing coverage is especially useful.

This plan can be taken up to the age of 100. This means that the longer the life, the longer the protection, the longer the life. Whether you want the death benefit as a lump sum or in installments is also your choice.

Benefits of LIC Bima Kavach
This plan is especially good for families who want a secure future, no matter the circumstances. A great feature of this plan is that you can increase the sum assured for certain life events, such as marriage or the birth of a child. Life changes, responsibilities increase, and the coverage in this plan can also increase accordingly.

Women and non-smokers receive lower premium rates, making the plan even more affordable. And best of all, there's no maximum limit on the sum assured. You can choose the amount of coverage you desire.

Why are LIC's two new plans special?

These days, people want insurance that fits their lifestyle. No complexities, no hidden rules, and no hassles. LIC has built flexibility into these plans, recognizing this need. Protection Plus is for those who want to invest while being protected, while Bima Kavach is for families who simply want solid protection.

Features like increasing and decreasing coverage, choosing premiums, receiving additional maturity benefits, and customizing death benefits in both plans put them in a different league.

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