LIC's BIMA JYOTI

How it works

LIC's BIMA JYOTI is a lic & life insurance product from Life Insurance Corporation of India, in the guaranteed category: fixed by contract. A savings policy that pays a guaranteed lump sum at maturity and adds guaranteed additions of ₹50 per thousand of sum assured.

Because the return type is guaranteed, the questions that matter most are: Is the rate fixed for the whole tenure, or revised during it? Who is actually promising to pay, and what happens if they don't?

• A guaranteed sum for a long-term goal
• Life cover with a savings component

Key facts

What can go wrong

• The return is modest compared with market-linked options.
• Stopping premiums early can mean a much lower payout.
• A fixed rupee payout loses value to inflation over long terms.

Before you decide anything

• The guaranteed additions for your term and sum assured
• The surrender value in the early years

These are questions to take to the provider, not a checklist that makes a product suitable. Whether something fits your situation is a decision only you — or an adviser you choose — can make.

Official sources

• LIC — plan details↗
• IRDAI — policyholder rights↗

These link to the regulator or provider where the rules for this type of product are set out. They are the pages worth checking before you act, because they are the ones that get updated.