LIC Jeevan Sangam Plan features
Eligibility Conditions and Restrictions
- Age at entry : 6 to 50 Years.
- Plan Term : 12 Years.
- Premium Mode : Single Premium.
- Minimum Maturity Sum Assure : 75000 and above (In multiples of 10000).
- Maximum Maturity Sum Assure : No Limit.
|Maturity Sum Assured||Rebate per 1000|
|2,00,00 to 3,90,000||15‰ MSA|
|Above 4 Lac||20‰ MSA|
|Below Rs. 2 Lac||NIL|
LIC's Jeevan Sangam Plan - LoanLoan Facility available after 3 months of the policy issuance.
LIC's Jeevan Sangam maturity benefits♦ On the Life Assured surviving to the end of the policy term, the Maturity Sum Assured along with Loyalty Addition, if any, shall be payable.
♣ Loyalty Addition: The policies under this plan shall be eligible for share in surplus (profits) in the form of Loyalty Addition, depending upon the experience of the Corporation. The Loyalty Addition, if any, shall be payable at such rate and on such terms as may be declared by the Corporation, on death or surrender, provided the policy has run for at least five policy years or on policyholder surviving to the maturity.
LIC's Jeevan Sangam death benefitsOn 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 The Tabular single premium mentioned above does not include any extra premium or taxes and is before applying any rebate.
LIC's New Jeevan Sangam Plan - Surrender ValueThe policy can be surrendered at any time during the policy term . Guaranteed Surrender Value:
The Guaranteed Surrender Value shall be as under:
» First year: 70% of the Single premium paid excluding extra premium and taxes, if any.
»Thereafter: 90% of the Single premium paid excluding extra premiums paid and taxes, if any.
Special Surrender Value: SSV is payable if it is higher than GSV .