Life is uncertain. There is no gurantiee of life. Any unpredicted incident can happen any time in life. An unpredicted incident such as accident, loss of life, sevier illness and much more. To deals with, all these kind of situations life insurance plan helps us from financial crisis. It helps in medical emergencies, accident, and any death of family member.
Today, we discuss India’s biggest shareholder in the insurance sector LIC’s BIMA JYOTI. You will get to benefits, maturity period, Death Benefit, Payment of Premiums, Grace Period, all-important factors related to LIC Bima Jyoti. Its helps to understand policy in easy way.

Eligibility Conditions and Other Restrictions of LIC’s Bima Jyoti:
Minimum Basic Sum Assured | Rs. 1,00,000 |
Maximum Basic Sum Assured (Basic Sum Assured shall be in multiples of Rs 25,000/- ) | No limit |
Policy Term | 15 to 20 years |
Premium Paying Term | Policy Term minus 5 Years |
Minimum Age at entry | 90 days Completed |
Maximum Age at Entry | 60 Years (Age Nearer Birthday) |
Minimum Age at Maturity | 18 years (Completed) |
Maximum Age at Maturity | 75 Years (Age Nearer Birthday) |
Benefits of LIC Bima Jyoti Life Insurance
A. Death Benefit:-
If the policyholder dies before the “Risk Commencement Date” – all of the money paid could be returned to the nominee. Any extra premium charged or rider premiums will no longer be paid.
If the policyholder dies after the “Risk Commencement Date” – the nominee gets the sum Assured on loss of life.
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B. Maturity Benefit:
On reaching the maturity date, Policyholder would receive Sum Assured + All Guaranteed Additions accumulated till date.
As mentioned earlier, the Guaranteed Additions are added every year @ Rs. 50 per 1,000 Sum Assured.
Loan Facility On LIC Bima Jyoti Life Insurance
Policy Holder can get loan against this policy once it acquires a Surrender Value. The interest rate and loan amount depends on time.
This is all about LIC’s BIMA Jyoti life insurance. There benefits, eligibility conditions, premium amount, year of maturity, etc. Personal Insurance policies are one of the best way to minimise the risk in life and also a option of saving money. In later life, this money can helps in retirement, education of children, marriage of children, etc. A good investment always gives a good return. Investments is very crucial in life for grow and save money.
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