LIC's Digi Term Insurance Plan: Eligibility, premium payment and benefits
LIC Digi Term guarantees fixed death benefits regardless of actual experience owing to which the policy does not qualify for any discretionary benefits.
Life Insurance Corporation of India (LIC) launched a new plan called LIC's Digi Term for online customers and LIC's Yuva for offline customers. The plan is non-par, non-linked, life, individual and pure-risk. It provides financial protection to the insured's family in case of his/ her unfortunate death during the policy term. Here's a detailed look at LIC Digi Term:
An exterior view of Life Insurance Corporation of India's (LIC) headquarters, in Mumbai. (Reuters)
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The plan guarantees fixed death benefits regardless of actual experience owing to which the policy does not qualify for any discretionary benefits.
Key features of LIC Digi Term
1. Flexibility to choose from two Death Benefit options: Level Sum Assured and Increasing Sum Assured.
Flexibility to o Choose from Single Premium, Regular Premium and Limited Premium Payment or Choose the Policy Term/Premium Paying Term or Opt for payment of benefit in instalments.
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