LIC 2 Year Temporary Assurance Plan

LIC Two Year Temporary Assurance Policy

This 2 year temporary assurance policy is a pure term insurance policy for a SMALL period of 2 years which is primarily for temporary protection only. In this plan, if the Life Insured dies within the period of 2 years, the nominee will get the entire Sum assured but nothing is payable on maturity. This product is only for people who require a temporary insurance coverage especially if he is going on a tour or something.

Key Features of LIC Two Year Temporary Assurance Policy

• Insurance for non-insurance people who want short term insurance while for some specific reason.
• Temporary insurance for 6 months to 2 years only.

Benefits you get from LIC Two Year Temporary Assurance Policy

Death Benefit – The entire Sum Assured is paid to the nominee on death of Life Insured during the 2 years of the policy term.

Maturity Benefit – Being a pure protection plan, there is no benefit is payable on maturity.

Income Tax Benefit – No tax benefit available in this plan as this is a small term policy for 2 years only.

Eligibility conditions in LIC Two Year Temporary Assurance Policy

Sample premium amount in LIC Two Year Temporary Assurance Policy

The below illustration is for a healthy Male (non-tobacco user) opting for:

Sum Assured = Rs.50,00,000

Policy Term = 2 years

Additional Features and Benefits of LIC Two Year Temporary Assurance Policy

Riders – There are no riders are available in this policy

What happens if?

You stop paying the premium – This is a single premium policy and hence no question of stopping the premium.

You want to surrender the policy – There are no Surrender benefits available under this term plan.

You want a loan against your policy –Loan facility is not available under this policy.