🌟 LIC Bima Jyoti Plan (Plan No. 760) – Full Details

🔷 Plan Type:

Non-linked, Non-participating, Individual, Savings, Life Insurance Plan

---

📌 Introduction:

LIC’s Bima Jyoti (Plan 860) is a guaranteed returns insurance plan offering a combination of protection and savings. It provides guaranteed additions every year, along with life cover throughout the policy term, and a lump-sum amount at maturity.

This plan is ideal for policyholders looking for a risk-free, guaranteed-return insurance policy.

---

🧾
Key Features:

FeatureDetailsPlan Name LIC Bima Jyoti
Plan Number 860

Policy Type -Endowment, Guaranteed Return Plan
Minimum Entry Age- 90 days (completed)
Maximum Entry Age -60 years
Policy Term -5 to 20 years
Premium Paying Term (PPT) Policy Term – 5 years
Minimum Sum Assured -₹1,00,000
Maximum Sum Assured -No limit (in multiples of ₹25,000)
Premium Payment Mode- Yearly, Half-Yearly, Quarterly, Monthly (NACH or SSS only)
Guaranteed Additions -₹50 per ₹1,000 Sum Assured per year
Loan Facility Available
Riders Available Yes (Accident, Disability, Term Rider, Critical Illness etc.)

---

💰 Benefits in Detail:

✅ 1. Maturity Benefit:

If the life assured survives till maturity:

• Sum Assured on Maturity + Accumulated Guaranteed Additions

✅ 2. Death Benefit:

If the policyholder dies during the policy term:

• "Sum Assured on Death" + Accrued Guaranteed Additions

Sum Assured on Death = Higher of:

• 125% of Basic Sum Assured, or

• 7 times of annualized premium

• Minimum death benefit = 105% of premiums paid (excluding taxes, extra premiums, and riders)

✅ 3. Guaranteed Additions:

• ₹50 per ₹1,000 of Basic Sum Assured is added at the end of each policy year

• Guaranteed, irrespective of market performance

---

🧮 
Example Illustration:

Let’s assume:Age: 30 years

Sum Assured: ₹5,00,000

Policy Term: 20 years

Premium Paying Term: 15 years

Guaranteed Additions:

₹50 × 500 = ₹25,000 per year
Over 20 years = ₹5,00,000 as guaranteed additions

Maturity Amount = ₹5,00,000 (SA) + ₹5,00,000 (Additions) = ₹10,00,000

---

🔓
Surrender, Loan, and Paid-up Options:

Surrender: Allowed after 2 years of premium payments

Loan: Available after policy acquires surrender value

Paid-Up:

If policyholder stops paying premiums after 2 years, reduced benefits are paid

---

✅
Riders Available:

Optional riders can be added for enhanced protection:

Accidental Death & Disability Benefit Rider

LIC New Term Assurance Rider

Critical Illness Rider

Premium Waiver Benefit Rider (for child plans)

---

✅
Tax Benefits:

Section 80C: Premiums eligible for tax deduction
Section 10(10D): Maturity and death benefits are tax-free (subject to conditions)

🧑‍💼 Who Should Buy LIC Bima Jyoti?

Individuals looking for a safe, guaranteed investment

Those preferring lump-sum maturity

Ideal for child education, future planning, and risk-averse investors