LIC’s Grow Fast

One Time Payment, 6 Years Risk Cover,Assured Return,Disability Benefit,Accident Benefit

  • Basic Features: This is a non-Linked, with guaranteed addition and with profits in lieu of loyalty addition, Limited period Single Premium Assurance Plan.
  • Key Features:
    • Limited Period – 6 Years.
    • Guaranteed Returns – Tk.50/- per 1000 SA Per Year.
    • Loyalty Additions payable at Maturity (If Any).
    • In built First Year Accidental Death Benefit before Age 65.
    • Inbuilt Total Permanent Disability before age 65.
    • Paid Premiums are eligible for Income Tax Benefit.
  • Plan Parameters:
    • Minimum Age at entry – 12 Years
    • Maximum Age at entry – 64 Years (Age nearer Birthday)
    • Maximum Age at Maturity – 70 Years (Age nearer Birthday)
    • Minimum Sum Assured – Tk. 10,000/- and in multiples of Tk.5000/- after that
    • Maximum Sum Assured – Tk. 1 Crore.
    • Policy Term – 6 Years
    • Premium Paying Mode – Single
  • Total Permanent Disability: 120% of basic Sum Assured is returned with Guaranteed Addition of Tk. 50 Per thousand per year on BSA each year from commencement to the date of diagnosis of disability before age 65.
  • Surrender & Loan allowed after completion of 2 Years.
  • Maturity Benefit: At the end of period of 6 Years
    • Maturity benefit = Sum Assured + Guaranteed Addition @ rate of Tk. 50/- per thousand per year + Loyalty Additions(if any declared by the corporation)
  • Death Benefit: 120 % of Basic Sum Assured with Guaranteed Addition of Tk.50/- per thousand per year.
  • Payable on First Year Accidental death: Upon accidental death of the insured with in the first policy year before age 65, an additional 10% of the Basic Sum Assured will be payable.