LIC Amritbaal Plan 774

Best LIC Amritbaal Plan 774 Guide | Ashuram Modi Bhadra

Are you worried about the rising costs of higher education for your children? As a parent, building a solid financial foundation for your child is your top priority. If you are looking for a completely safe and risk-free way to grow your money, you are in the right place. Welcome to Ashuram Insurance Expert! I am Ashuram Modi, your trusted local advisor, serving since 1990 near Ambedkar Chowk, Bhadra (335501). Today, we are going to dive deep into the ultimate child savings scheme: the LIC Amritbaal Plan 774.

Whether you are looking for an LIC agent in Bhadra Rajasthan, or you need support for an LIC policy in Kalana (335501) and surrounding areas, my goal is to give you simple, honest, and expert guidance. Let us explore the LIC Amritbaal policy details and see how it can guarantee your child's bright future.

What is LIC Amritbaal Plan 774?

LIC's Amritbaal (UIN: 512N365V02) is a Non-Par, Non-Linked, Life, Individual, Savings plan. In simple English, this means the plan is completely safe from stock market risks, and all the guaranteed benefits and fixed guaranteed additions are provided by the Life Insurance Corporation of India.

The plan is specifically designed to help parents build an adequate corpus to meet the higher education and other financial needs of their children. Unlike other market-linked investments where your money goes up and down, LIC Amritbaal facilitates the accumulation of a corpus through a fixed Guaranteed Addition. Because the benefits payable on death or survival are guaranteed and fixed irrespective of actual experience, the policy is not entitled to any discretionary benefits like a bonus or a share in surplus.

Key Features of LIC Amritbaal Policy

Understanding the LIC Amritbaal benefits is crucial before making an investment. Here are the product's key features that make it a favorite among parents in Bhadra and Hanumangarh:

• Massive Guaranteed Addition: The plan offers a Guaranteed Addition of Rs. 80 per thousand Basic Sum Assured throughout the Policy Term.
• Flexible Life Cover: You have the option to choose the Life Insurance coverage for your child as per your specific needs.
• Premium Flexibility: You can choose from Single Premium (one-time payment) and Limited Premium Payment (paying for 5, 6, or 7 years).
• Customizable Maturity: You can choose the maturity age from 18 to 25 years for the various needs of your child.
• Instalment Options: You can opt for payment of the benefit in instalments rather than a lump sum.
• Safety Net: There is an option to choose the Premium Waiver Benefit rider on the payment of an additional premium.
• Attractive Discounts: You get the benefit of an attractive High Sum Assured Rebate.
• Emergency Funds: The plan takes care of your liquidity needs through a handy loan facility.

Eligibility Conditions and Restrictions

Before we set up your plan at our LIC Premium Point Bhadra, let us check if your child qualifies for this scheme. The eligibility conditions are very straightforward:

• Premium Payment Terms: If you choose Limited Premium Payment, you can pay for 5, 6, or 7 years. If you choose Single Premium Payment, it is a single pay.
• Policy Terms: For Limited Premium Payment, the term is 10 to 25 years. For Single Premium Payment, the term is 5 to 25 years.

Important Note on Risk Commencement: If your child's age at entry is less than 8 years, the life insurance risk will commence either 2 years from the date of commencement of the policy or from the policy anniversary following the attainment of 8 years of age, whichever is earlier. For children aged 8 years or more at entry, the risk will commence immediately from the date of issuance of the policy.

Comprehensive LIC Amritbaal Benefits

When families visit my office on Main Bus Stand Road to discuss LIC Amritbaal in Bhadra, they always ask about the exact benefits. Here is a clear breakdown:

Premium Payment Options

You have excellent flexibility when it comes to paying premiums. Single Premium payment or Limited Premium payment options are available under this plan.

In the case of Limited Premiums payment, the premium can be paid regularly with the mode of premium payment at yearly, half-yearly, quarterly, or monthly intervals (monthly premiums through NACH only) or through salary deductions. A grace period of 30 days is allowed for yearly, half-yearly, or quarterly premiums, and 15 days for monthly premiums.

Rider Details: Securing the Goal

As an experienced LIC advisor in Bhadi (335501) and surrounding villages, I always recommend securing your child's policy against life's uncertainties.

You can opt for the LIC's Premium Waiver Benefit Rider (UIN: 512B204V04) by payment of an additional premium. If this rider is opted for, on the death of the proposer (the parent), the payment of premiums in respect of the Base Policy falling due on and after the date of death till the expiry of the Rider Term shall be waived. This ensures that your child's education fund is created exactly as you planned, even if you are not around.

Loan, Surrender, and Paid-Up Facilities

Life is unpredictable, and sometimes you need emergency funds.

• Policy Loan: A loan shall be available during the policy term. For Limited Premium payment, the loan is available after completion of the first policy year provided at least one full year's premiums have been paid. For Single Premium payment, it is available anytime after three months from the completion of the policy. Interestingly, if the Life Assured is a female child and the loan is availed for the purpose of her education, the applicable interest rate shall be reduced by 100 basis points.
• Surrender: Under Limited Premium payment, the policy can be surrendered after the completion of the first policy year provided at least one full year's premium has been paid. Single Premium policies can be surrendered at any time during the policy term.
• Paid-up Value: If after at least one full year's premium has been paid and any subsequent premiums are not duly paid, the policy shall not be wholly void but shall subsist as a paid-up policy till the end of the policy term.

Services Available in Kalana and Bhadi

Ashuram Insurance Expert is not just limited to Bhadra city. If you live in nearby areas, we provide dedicated services right to your doorstep:

• New Policy Consultation and Goal Planning
• Authorized Premium Collection
• Claim Settlement Support
• Nomination and Address Updates

Why Choose Ashuram Modi?

When you choose Ashuram Insurance Expert, you are not just buying a policy; you are partnering with someone who understands your community.

• Local Trust: Serving the people of Bhadra, Nohar, and Hanumangarh since 1990.
• Expertise: Deep knowledge of LIC child plans, ensuring you get the maximum value for your family.
• Convenience: Our office is centrally located at Main Bus Stand Road, near Ambedkar Chowk, Bhadra.
• End-to-End Support: From form filling to final maturity claims, we stand by your side.

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Frequently Asked Questions (FAQs)