LIC 2 Year Temporary Assurance Plan
This plan has been withdrawn by the insurance company and is no longer available for sale.
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
Insurance for non-insurance people who want short term insurance while for some specific reason.
There are no riders are available in this policy
Benefits
The entire Sum Assured is paid to the nominee on death of Life Insured during the 2 years of the policy term.
Being a pure protection plan, there is no benefit is payable on maturity.
No tax benefit available in this plan as this is a small term policy for 2 years only.
How it works
The below illustration is for a healthy Male (non-tobacco user) opting for:
Sum Assured = Rs.50,00,000
Policy Term = 2 years
Eligibility
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 3,00,000 | 1 Crore |
| Policy Term (in years) | 6 months | 2 years |
| Premium Payment Term (in years) | Single | |
| Entry Age of Policyholder (in years) | 18 | 60 |
| Age at Maturity (in years) | - | 62 |
| Payment modes | Single | |
FAQs
You stop paying the premiumThis is a single premium policy and hence no question of stopping the premium.
You want to surrender the policyThere are no Surrender benefits available under this term plan.
You want a loan against your policyLoan facility is not available under this policy
