LIC is going to launch new plan – Jeevan Rakshak, Table No 827
Plan introduce on 19 August 2014 and can also be known as Aam Aadami Policy
This is regular premium paying Non-linked, With Profits, Endowment Assurance plan. This plan shall be available to standard life only under non medical limit and the total Sum Assured under this plan shall not exceed Rs.2 Lac.
Key Features of LIC’s Jeevan Rakshak Plan – Table no 827
- Regular Premium Paying
- With Profit Endowment Assurance Plan
- Minimum Age at Entry – 8 Years Completed
- Maximum Age at Entry – 55 Year (Nearest Birthday)
- Policy Term – 10 Years and 20 Years
- Premium Paying Term – Equals to Policy Term
- Maximum Maturity Age – 70 Years Nearest Birthday
- Mode – Monthly (SSS, ECS), Quarterly, Half Yearly and Yearly
- Loan – Allowed after payment of premiums for at least 3 years.
- Minimum Sum Assured – 75,000
- Maximum Sum Assured – 2,00,000
- Accident Benefit Rider – 0.50 Per Thousand
- Maturity Benefit – Basic Sum Assured + Loyalty Addition
- Death Benefit – Sum Assured and Loyalty Addition if Policy completed 5 Years ( Basic Sum Assured or 10 Times of Annualized premium or 105% of all premium paid on date of death)
- Double Accident Benefit – Allowed with Additional Premium
- Rebate – 2% for Yearly and 1% for Half Yearly
- NO Medical Check up Required
- Suicide Clause – If life insurance policy holder commits suicide at any time within 12 months from date of commencement of risk LIC will not entertain any claim under this policy.
- Free Look Period – If policy holder is not satisfied with “Terms and Condition” of policy he/she may return policy to LIC stating reason within 15 days from date of receipt of policy.
Check out the premium for Jeevan Rakshak Plan