LIC's New Jeevan Sangam Plan table no 831
LIC Jeevan Sangam Plan is a close ended limited period policy which is open only for 90 days.
Jeevan Sangam is a single premium non linked traditional policy, which offers high risk cover which is 10 times of the single premium so it is eligible to claim tax benefit under section 80c.
Benefits:
Death benefit:
On death during first 5 policy years, nominee will be paid the basic sum assured, which would be 10 times of the single premium payment.
On death after first 5 policy years but before maturity nominee will be paid basic sum assured, which would be 10 times of the single premium payment, plus loyalty additions if any.
Survival Benefits:
on Maturity, Insured will get Maturity Sum Assured along with Loyalty additions.
Loyalty addition is the amount which depends upon the Corporation’s experience. It is variable in nature and declared by corporation time to time, if it generates profit and at the rate as per discretion.
Loan:
The policy is eligible for taking loan after 3 months of policy issuance.
Surrender:
You may also surrender the plan in between the policy term. You will get the following:
Eligibility Conditions and Restriction :
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Jeevan Sangam is a single premium non linked traditional policy, which offers high risk cover which is 10 times of the single premium so it is eligible to claim tax benefit under section 80c.
Benefits:
Death benefit:
On death during first 5 policy years, nominee will be paid the basic sum assured, which would be 10 times of the single premium payment.
On death after first 5 policy years but before maturity nominee will be paid basic sum assured, which would be 10 times of the single premium payment, plus loyalty additions if any.
Survival Benefits:
on Maturity, Insured will get Maturity Sum Assured along with Loyalty additions.
Loyalty addition is the amount which depends upon the Corporation’s experience. It is variable in nature and declared by corporation time to time, if it generates profit and at the rate as per discretion.
Loan:
The policy is eligible for taking loan after 3 months of policy issuance.
Surrender:
You may also surrender the plan in between the policy term. You will get the following:
- If surrendered in first year : 70% of Single Premium paid, excluding taxes
- Thereafter 90% of single premium paid, excluding taxes.
Eligibility Conditions and Restriction :
- Entry Age : 6 years (completed) to 50 years (age near birthday)
- Policy Term : 12 yrs
- Minimum Sum Assured : 75,000 ( Will be multiple of 10,000)
- Maximum Sum Assured : No limit
- Mode of Premium Payment : Single
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