LIC Policies for Women – All you wanted to Know about the Best Policy – Jeevan Bharathi

Best Life Insurance Policy for Women in India - LIC Jeevan BharathiLife insurance has always been one of the most cost effective ways for men and women to protect their loved ones in the event that anything would happen to them so that they can provide for their own kids and if outlives the policy they too can enjoy the savings. Actually, these days, married, single or thinking about it, no one can afford to be without insurance. Most of the popular insurance companies in India today are coming with insurance policies tailored specially for women.

LIC has a policy designed exclusively for females (Jeevan Bharathi). Jeevan Bharathi is cheaper when compared to a regular policy. Jeevan Bharathi is an exclusive money back policy for women with a fixed term of 15 to 20 years.

Important points to note when taking Jeevan Bharathi policy:

  1. At any point of time some benefits are guaranteed and some benefits are variable with returns based on the future performance of company.
  2. If the Policy has lapsed, and the policy is not under the period of auto cover, the policy can be revived within a period of 5 years from the date of first unpaid premium.
  3. If the Policy has lapsed the rider benefits will cease to apply.
  4. If death occurs during the Auto Cover period (If premium payment is discontinued after paying premiums for two years the life cover for full sum assured will continue for 3 years from the due date of first unpaid premium) , then death benefit after deducting unpaid premiums, with interest is payable along with the vested bonus, if any.
  5. Lastly the policy shall be void if the Life Assured commits suicide.

Jeevan Bhararthi Riders

  • Critical illness rider: In case of any illness the policy holder is eligible to claim a benefit of minimum sum assured of Rs 50000/- and maximum Rs 5 lakh. Most important when trying claim the rider amount the policy should be in force.
  • Accidental Benefit: In case of  death, permanent disability the policy holder can avail the sum assured. The minimum amount to avail is 50000/- to maximum amount equal to sum assured.
  • Congenital Disabilities rider: This cover benefit can be availed by women who have delivered child with congenital defect. In this the policy holder can avail minimum 50000/- to 500000/- and have an age limit of 60 years.

Features of Jeevan Bharathi

After two years premiums have been paid, whenever premium payment is discontinued, the life cover for full sum assured will continue for 3 years from the due date of first unpaid premium.  If the premium has been paid for at least two years, the policy continues to be in effect for the next three years, even if premium is not paid.

  1. The policy gives you the freedom to pay the premium in advance and enjoy a 4 per cent rebate on the premium amount
  2. 20 per cent of the sum assured is payable at the end of the fifth and the tenth years. The remaining 60 per cent, along with the guaranteed additions and any accrued bonus, is payable at maturity. After 5, 10, 15 years each she will get 20% of Sum assured.
  3. Minimum age for women is 18 and maximum being 55 years.
  4. At the end of the fifth, tenth, and fifteenth year, she receives 20% of the sum assured
  5. At the end of 20 years, the balance sum assured plus guaranteed additions of Rs 50 per thousand of the sum assured for the first five years of the policy will be paid.
  6. Guaranteed Additions of Rs.50/- per Rs.1000/- Sum Assured will be added to the policy at the end of each completed year for which premium is paid.
  7. Loan is available under the plan after the policy acquires paid-up value. The rate of interest charged for this loan amount would be determined from time to time by the LIC Of India
  8. Surrender value will be available after the expiry of 3 policy years provided the premiums have been paid for at least three years.


Historically, women were almost never adequately insured because of zero knowledge in insurance. Life insurance purchased today can protect your future insurability as you get older. If you eventually marry, your coverage will help protect your husband and, possibly, children.

Jayasri Ramineni Karna holds GNIIT certification along with Masters in Computer Application. Contrary to her studies, she worked in the Securities and Ropes Industry and finally entered the Insurance sector with ICICI Lombard. She has extensive knowledge of Life Insurance products and has a keen interest to educate fellow Indians