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With reference to the LIC’s Bima Jyoti, consider the following statements:
1. It is a Non-Linked, Non-Participating, Individual, Savings Plan, which offers an attractive combination of protection and savings.
2. Guaranteed Additions at the rate of Rs.50 per thousand Basic Sum Assured will be added to the policy at the end of each policy year.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With reference to the LIC’s Bima Jyoti, consider the following s...
Life Insurance Corporation of India has introduced LIC’s Bima Jyoti a Non-Linked, Non-Participating, Individual, Savings Plan, which offers an attractive combination of protection and savings.
  • This plan provides guaranteed lump sum payment at maturity and financial support to the family in case of the unfortunate death of the policyholder during the policy term.
  • Guaranteed Additions at the rate of Rs.50 per thousand Basic Sum Assured will be added to the policy at the end of each policy year.
  • On death during the policy term after the date of commencement of risk, “Sum Assured on Death” and Accrued Guaranteed Additions as per policy conditions is payable.
  • The Minimum Basic Sum Assured is Rs 1,00,000/- with no upper limit. The Policy can be taken for a term of 15 to 20 years with a premium paying term calculated as Policy term minus 5 years.
  • The minimum age at entry is 90 days completed and the maximum age at entry is 60 yrs.
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With reference to the LIC’s Bima Jyoti, consider the following statements:1. It is a Non-Linked, Non-Participating, Individual, Savings Plan, which offers an attractive combination of protection and savings.2. Guaranteed Additions at the rate of Rs.50 per thousand Basic Sum Assured will be added to the policy at the end of each policy year.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the LIC’s Bima Jyoti, consider the following statements:1. It is a Non-Linked, Non-Participating, Individual, Savings Plan, which offers an attractive combination of protection and savings.2. Guaranteed Additions at the rate of Rs.50 per thousand Basic Sum Assured will be added to the policy at the end of each policy year.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the LIC’s Bima Jyoti, consider the following statements:1. It is a Non-Linked, Non-Participating, Individual, Savings Plan, which offers an attractive combination of protection and savings.2. Guaranteed Additions at the rate of Rs.50 per thousand Basic Sum Assured will be added to the policy at the end of each policy year.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the LIC’s Bima Jyoti, consider the following statements:1. It is a Non-Linked, Non-Participating, Individual, Savings Plan, which offers an attractive combination of protection and savings.2. Guaranteed Additions at the rate of Rs.50 per thousand Basic Sum Assured will be added to the policy at the end of each policy year.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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