✔ Maturity Benefit = 110% of Total Premiums Paid
✔ Death Benefit = Highest of 7× Annual Premium OR 105% Premium Paid OR Sum Assured
✔ Official LIC Sample Premium Rates Used
✔ Rebate: 2% Yearly | 1% Half-Yearly
✔ Withdrawn from 01 January 2025
Premiums paid under eligible LIC plans may qualify for tax deductions under Section 80C of the Income Tax Act, while maturity proceeds and death benefits can also receive tax exemptions under Section 10(10D), subject to prevailing tax regulations and applicable conditions.
The Life Insurance Corporation of India introduced the LIC Bhagya Lakshmi Plan 939 as a specialized microinsurance savings plan aimed at providing affordable financial protection to economically weaker sections of society. The plan was designed to offer insurance security along with guaranteed savings benefits through a limited premium payment structure.
Introduction to LIC Bhagya Lakshmi Plan 939
LIC Bhagya Lakshmi Plan 939 was officially launched on March 1, 2022, as a non-linked and non-participating microinsurance term plan. The policy mainly targeted low-income individuals looking for affordable life insurance coverage combined with guaranteed maturity benefits.
Although the plan was later withdrawn on January 1, 2025, it continues to remain important as an example of LIC’s efforts toward expanding financial inclusion and providing insurance solutions for financially vulnerable groups.
One of the major highlights of LIC Bhagya Lakshmi Plan 939 is its guaranteed maturity benefit, where the policyholder receives 110% of the total premiums paid at maturity. Along with savings benefits, the plan also provides life insurance coverage throughout the policy duration. Since the premium payment period is limited, the plan was designed to remain affordable while offering long-term financial protection.
What is LIC Bhagya Lakshmi Plan 939 Calculator?
The LIC Bhagya Lakshmi Plan 939 Calculator is an online or offline calculation tool that helps individuals estimate premium payments and maturity benefits based on factors such as age, sum assured, policy term, and premium payment duration.
The calculator simplifies policy understanding by showing estimated periodic premiums and expected benefits, helping users make informed financial decisions.
Why Should You Use LIC Bhagya Lakshmi Plan 939 Calculator?
Main Benefits of Using the Calculator
- Instant premium estimation for different payment modes
- Easy calculation of maturity benefits equal to 110% of total premiums paid
- Better understanding of death benefit payable to nominees
- Helps in financial planning and insurance budgeting
- Assists users in comparing different policy terms and premium options
Key Features of LIC Bhagya Lakshmi Plan 939
What Are the Main Features of LIC Bhagya Lakshmi Plan 939?
- Micro-insurance, non-linked, and non-participating term insurance plan
- Minimum entry age of 18 years completed
- Maximum entry age:
- 42 years for 5-year premium payment term
- 55 years for 6 to 13-year premium payment terms, subject to maximum maturity age of 65 years
- Policy term equal to premium payment term plus 2 years
- Premium payment term ranging from 5 years to 13 years
- Sum assured available from ₹20,000 to ₹50,000 in multiples of ₹1,000
- Guaranteed maturity benefit equal to 110% of total premiums paid
- Death benefit payable to nominee during the policy term
- Grace period:
- 30 days for monthly premium mode
- 60 days for yearly, half-yearly, and quarterly modes
- Policy revival allowed within 5 years from the first unpaid premium
- Surrender value available after payment of at least one year’s premium
- Loan facility not available under the plan
- No medical examination required for purchasing the policy
- Tax-free maturity proceeds available under Section 10(10D) subject to prevailing tax laws
Eligibility Criteria for LIC Bhagya Lakshmi Plan
What Are the Eligibility Conditions for LIC Bhagya Lakshmi Plan?
| Eligibility Parameter | Details |
|---|---|
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 42 to 55 years depending on premium payment term |
| Maximum Maturity Age | 65 years |
| Premium Payment Modes | Yearly, half-yearly, quarterly, monthly |
| Policy Term | Premium payment term plus 2 years |
| Sum Assured | ₹20,000 to ₹50,000 |
Understanding Premium Payment and Policy Term
Under LIC Bhagya Lakshmi Plan 939, premiums are required to be paid for a limited duration ranging from 5 years to 13 years. The total policy term remains 2 years longer than the chosen premium payment term.
For example, if a policyholder selects a premium payment term of 6 years, the total policy duration becomes 8 years.
The plan also offers flexible premium payment frequencies including monthly, quarterly, half-yearly, and yearly modes according to the policyholder’s convenience.
How to Use LIC Bhagya Lakshmi Plan 939 Calculator?
Using the LIC Bhagya Lakshmi Plan 939 Calculator is simple and helps policyholders estimate premiums and maturity benefits easily.
Steps to Use LIC Bhagya Lakshmi Plan Calculator
- Enter the age of the policyholder
- Select the preferred sum assured amount between ₹20,000 and ₹50,000
- Choose the premium payment term ranging from 5 years to 13 years
- Select the preferred premium payment mode such as monthly, quarterly, half-yearly, or yearly
- Click calculate to view estimated premium amounts, maturity benefits, and death benefits
The calculator helps users understand the required investment amount and expected benefits before purchasing the policy.
Benefits of LIC Bhagya Lakshmi Plan 939
Financial Protection for Family
If the policyholder dies before maturity, the nominee receives the sum assured amount, helping provide financial security to the family.
Guaranteed Maturity Benefit
On survival till the end of the policy term, the policyholder receives 110% of the total premiums paid under the policy.
Affordable Premium Structure
The plan was specially designed to remain affordable for lower-income groups such as farmers, laborers, and economically weaker individuals through limited premium payment terms and smaller sum assured options.
No Medical Examination Requirement
The policy does not require any medical check-up, making the insurance process simple and easily accessible.
Flexible Premium Payment Options
Policyholders can select different premium payment frequencies according to their financial convenience.
Grace Period and Revival Facility
The grace period helps avoid policy lapse due to delayed premium payments, while the revival facility allows the policy to be reinstated within 5 years from the first unpaid premium.
Tax Benefits
Premiums paid and maturity proceeds may qualify for tax benefits under Sections 80C and 10(10D) of the Income Tax Act, subject to prevailing tax laws.
Exclusions and Limitations of LIC Bhagya Lakshmi Plan 939
- Loan facility is not available under this policy
- Timely premium payment is necessary to keep the policy active
- The plan was withdrawn by LIC on January 1, 2025, and is no longer available for new policy purchases
Important Dates of LIC Bhagya Lakshmi Plan 939
When Was LIC Bhagya Lakshmi Plan 939 Launched?
LIC Bhagya Lakshmi Plan 939 was officially introduced by the Life Insurance Corporation of India on March 1, 2022. The plan was launched as a micro-insurance solution mainly aimed at providing affordable financial protection and savings benefits for low-income individuals.
When Was LIC Bhagya Lakshmi Plan 939 Withdrawn?
LIC withdrew the Bhagya Lakshmi Plan 939 on January 1, 2025. After this date, new customers were no longer allowed to purchase the policy. However, existing policyholders continue to receive policy benefits according to the original terms and conditions.
How Long Was LIC Bhagya Lakshmi Plan 939 Available?
The plan remained available for approximately 2 years and 10 months, from March 2022 until January 2025. During this period, the policy offered affordable life insurance coverage and guaranteed savings benefits to many individuals across India.
How Does LIC Bhagya Lakshmi Plan 939 Compare with Other LIC Plans?
Comparison Between LIC Bhagya Lakshmi Plan 939 and Other LIC Micro Insurance Plans
| Feature | LIC Bhagya Lakshmi Plan 939 | Other LIC Micro Insurance Plans |
|---|---|---|
| Policy Type | Non-linked and non-participating | Linked or non-linked depending on plan |
| Premium Payment Term | Limited term of 5 to 13 years | Varies by policy |
| Maturity Benefit | 110% of total premiums paid | Depends on plan type |
| Entry Age | 18 years to 55 years | Generally broader age range |
| Medical Examination | Not required | Often required |
| Loan Facility | Not available | Available in many plans |
| Target Audience | Low-income and micro-insurance customers | Wider customer categories |
Frequently Asked Questions
What is LIC Bhagya Lakshmi Plan 939?
LIC Bhagya Lakshmi Plan 939 is a micro-insurance savings plan that provides life insurance coverage along with guaranteed maturity benefits equal to 110% of the total premiums paid.
When Was LIC Bhagya Lakshmi Plan 939 Introduced?
The plan was officially launched on March 1, 2022.
Is LIC Bhagya Lakshmi Plan 939 Still Available?
No, the policy was withdrawn on January 1, 2025, and is no longer available for new purchases.
What Is the Minimum and Maximum Entry Age for LIC Bhagya Lakshmi Plan 939?
The minimum entry age is 18 years, while the maximum entry age ranges between 42 years and 55 years depending on the selected premium payment term.
What Is the Premium Payment Term in LIC Bhagya Lakshmi Plan 939?
The premium payment term available under the policy ranges from 5 years to 13 years.
What Is the Sum Assured Available Under LIC Bhagya Lakshmi Plan 939?
The policy offered sum assured options ranging from ₹20,000 to ₹50,000 in multiples of ₹1,000.
Conclusion
LIC Bhagya Lakshmi Plan 939 was introduced as a valuable micro-insurance policy designed to provide affordable financial protection and savings benefits to economically weaker sections of society.
Features such as limited premium payment duration, no medical examination requirement, and guaranteed maturity benefits made the plan a practical and accessible insurance option during its availability period.
Note: All images and videos used on this website are sourced from Google or YouTube. If you have any issues regarding any image or video, please contact us via email through our official website.
If you find any problem with this post or wish to request its removal, please contact us through:
https://licpolicycalculator.in/contact-us
