Life Insurance CorpRation of India (LIC) is India’s oldest and largest insurance company. Many middle class families have made it a habit to invest in various insurance plans of LIC. Over the years, LIC has been the biggest custodian of the middle and poor rather than the affluent. LIC has countless schemes. There are many types of schemes ranging from very low investment amount to very high investment. Similarly, LIC provides its services to a wide range of customers.

Although LIC has many schemes, its Bima Ratna Policy has attracted many. This life insurance plan is a great plan for individuals who want to save. This is because of its guaranteed bonus feature.

It is claimed that if one pays Rs 166 per day in this scheme, one can get up to Rs 50 lakh at maturity. The premium can be paid monthly, quarterly, half-yearly and annually as per the convenience of the investor.

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Talking about the eligible age for this scheme, you can join this scheme from 90 days of birth to 55 years of age. The policy of this scheme is offered for 15, 20 and 25 years. The premium payment period varies accordingly. For example, those opting for a 15-year plan pay the premium for just 11 years. Similarly, those opting for a 20-year plan will have to pay premiums for 16 years. Those opting for a 25-year plan will have to pay the premium for 21 years.

By investing in this policy, you will get a higher rate of return. That is, if you opt for a 15-year plan, the minimum sum assured is Rs. 5 lakhs can be obtained. Along with other benefits at the end of the policy, a total of Rs. You can get profit up to 9 lakhs.

Otherwise, investors will have to pay a monthly minimum of Rs. 5,000 will help you get a bigger amount. For this, daily savings of just Rs. 166 is enough to get huge amount.

LIC Bhima Ratna Policy is an attractive investment plan with substantial and guaranteed bonuses and returns. Similarly, it also provides facility to the investors to calculate the bonus they will get on maturity during the premium payment period.