LIC has insurance plans for people of all age groups.
Keeping women in focus, the Life Insurance Corporation of India introduced a special policy that helps women build savings along with financial security.
This plan offers guaranteed returns, regular payouts, and life cover, making it a low-risk option for long-term planning.
The policy we are talking about is LIC Bima Lakshmi Plan (Plan 881).
It is designed exclusively for women and combines protection, savings, and assured benefits in one plan.
What Is LIC Bima Lakshmi Plan?
LIC Bima Lakshmi is a money-back life insurance policy created especially for women.
It provides life cover along with guaranteed savings.
Along the way, policyholders also receive survival benefits at fixed intervals, which helps meet regular financial needs.
The plan focuses on long-term wealth creation while offering financial protection to the family.
Who Can Invest in This Plan?
Any Indian woman between the age of 18 and 50 years can invest in this scheme.
Minor girls can also be covered under the plan through their parents or legal guardians.
The total policy term is 25 years.
However, you can choose to pay premiums for a shorter period, ranging from 7 to 15 years, depending on your comfort.
Key Features of LIC Bima Lakshmi
This scheme offers guaranteed savings along with life insurance coverage.
Policyholders receive survival benefits every 2 or 4 years during the policy term.
A yearly benefit of around 7 percent on the premium helps create a sizeable fund by the time the policy matures.
The plan also allows you to add health-related riders such as critical illness cover for extra protection.
After paying premiums for three years, you can avail of a policy loan and auto cover facility.
The scheme also offers tax benefits, with premium payments eligible for deduction under Section 80C and maturity benefits exempt under Section 10(10D).
How ₹4,450 Per Month Can Create a Big Fund
Let’s understand the returns with an example.
If a 40-year-old woman chooses this plan with a basic sum assured of around ₹3 lakh and a premium-paying term of 15 years, the annual premium comes to approximately ₹53,400.
This means a monthly saving of about ₹4,450.
Over 15 years, the total premium paid would be close to ₹8.07 lakh.
Maturity Amount and Returns Explained
At maturity, the policyholder can receive around ₹13.09 lakh as maturity benefit.
In addition, survival benefits of about ₹22,500 are paid every two years during the policy term.
When all payouts are added together, the total benefit can reach nearly ₹15.8 lakh after 25 years.
In simple terms, by investing around ₹53,000 per year for 15 years, a woman can build a fund of nearly ₹16 lakh while enjoying life cover and regular payouts along the way.
