LIC JEEVAN SANGAM

LIC’s Jeevan Sangam is a participating, non-linked, savings cum protection single premium plan wherein the risk cover is a multiple of single premium. The proposer will have an option to choose the Maturity Sum Assured. The single premium payable (exclusive of service tax) shall depend on the chosen amount of Maturity Sum Assured and age of the life assured.

The plan will be open for sale for a maximum period of 90 days from the date of launch (1^st June 2015).

ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:

Minimum Entry Age                                         : 6 years (completed)

Maximum Entry Age                                         : 50 years (nearest birthday)

Minimum/Maximum Basic Sum Assured       : 10 times of tabular single premium                                                                                  

Minimum Maturity Sum Assured                    : Rs. 75,000/-

Maximum Maturity Sum Assured                   : No Limit

Policy Term                                                      :   12 years

Premium payment mode                                   : Single premium only

Date of commencement of risk: In case the age at entry of the Life assured is less than 8 years, the risk under this plan will commence from one day before the policy anniversary coinciding with or immediately following the age of 8 years.

For those aged 8 years or more, risk will commence immediately.

Policy Benefits:

On death during first five policy years:
Before the date of commencement of risk: Refund of single premium excluding service tax and extra premium, if any, without interest.

 After the date of commencement of risk: Basic Sum assured i.e. 10 times the tabular single premium shall be payable.

On death after completion of five policy years but before the stipulated Date of Maturity:
 Basic Sum assured i.e. 10 times the tabular single premium along with Loyalty Addition, if any, shall be payable.

Maturity Benefit:

On maturity, the Maturity Sum Assured along with Loyalty Addition, if any, shall be payable.


For more details visit your nearest LIC branch or email at: sushilshm2010@gmail.com  
Call: 0- 80581 89360 

LIC Jeevan Lakshya

LIC's Jeevan Lakshya is a participating non-linked plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder. This plan also takes care of liquidity needs through its loan facility.

Eligibility Conditions and Other Restrictions:

Minimum Basic Sum Assured      :   Rs. 100,000

Maximum Basic Sum Assured     :   No Limit

Policy Term                                    : 13 to 25 years

Premium Paying Term                  : (Policy Term – 3) years

Minimum Age at entry                 :  18 years (last birthday)

Maximum Age at entry                 :  50 years (nearest birthday)

Maximum Maturity Age               :  65 years (nearest birthday)

Premium paying modes:                   Yearly, Half-yearly, Quarterly and Monthly mode.

Policy Benefits:

On Death:
1. Annual Income Benefit equal to 10% of the Basic Sum Assured, which shall be payable from the policy anniversary coinciding with or following the date of death of Life Assured, (till policy anniversary prior to date of maturity)

2.      2. Assured Absolute Amount equal to 110% of Basic Sum Assured, which shall be payable  on due date of maturity; and

The vested Simple Reversionary Bonuses and Final Additional Bonus, if any, included in the Death Benefit,  shall be payable on due date of maturity.

The Death Benefit defined above shall not be less than 105% of all the premiums paid as on date of death.

On Survival: On survival Basic Sum Assured + Vested Bonus + FAB if any. 

For more details visit your nearest LIC branch or email at: sushilshm2010@gmail.com