Bima kiran is suitable for young people with limited income .It is a unique low cost life insurance plan which apart from covering risk during it’s term also has other attractive benefits like ’in-built accident benefits, loyalty addition and free insurance cover after maturity.
in my opinion this is one of the most value added policies from lic’s stable. since there are no frills attached the cost is low and at the same time the basic purpose of insurance is also achieved.
though no loans are allowed on the policy, an amount equal to the sum assured is considered for coverage on housing loan.
since there is some restriction on age as well as term(duration of policy) of the policy, it is better to consult as lic agent for the exact details for a particular person.
in my opinion if one does not have adequate insurance cover and are planning to take up one, one should go for it.