LIC has recently come up with a new insurance plan which is known as Jeevan Sugam. This plan will be open for sale only for the first 45 days since the day it launches. This plan is a single premium plan and according to the feature of this plan the risk covered will be the multiples of the premium paid by you and when it reaches the vesting point it provides the assured amount chosen by you at the time of buying the policy.
Well do discuss the plan more briefly let us first find out the benefits of it;
Death Benefit: of course the death benefit is there and it’s nicely focused, in the first five years of policy if death occurs then the 10 times of the single premium paid by you will be payable.
If in case the death occurs after the five years ( means after paying the policy till five years and completing it by successful payments of the premiums) then everything like the previous payment ( death within 5 years ) will be paid but also the loyalty addition will be paid as well.
Maturity benefit? Is there any maturity benefit:
Of course there is, after the maturity of the policy the fixed amount will be paid (maturity amount) plus there will be some loyalty bonus which will also be paid.
Will there be Loyalty Bonus: yes there will be, but that will truly and entirely depend on the terms and conditions related to the policy.
Minimum entry age required: 8 years +
Maximum entry age required: 45 years +
Max/min amount assured: 10 times of the single premium paid
Minimum maturity amount which will be assured is: INR 60,000
Maximum maturity amount which can be assured is : up to you (there is no limit)
Premium will be paid single time only
The policy term is of 10 years
It is always advised to meet the authentic LIC agent for more detailing of this LIC new Plan and for more information on it.
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