Jeevan Rakshak Plan 827

Jeevan Rakshak Plan (827) – LIC Jeevan Rakshak Policy

LIC’s Jeevan Rakshak Plan is a regular premium paying Non-linked, With-Profits, Endowment Assurance plan.

LIC Jeevan Rakshak Plan 827

• Maximum Basic Sum Assured: Rs. 2,00,000/-

• Minimum Basic Sum Assured: Rs. 75,000/-

• Maximum Policy Term: 20 years

• Minimum Entry Age: 8 years (completed)

• Minimum Policy Term: 10 years

• Mode of Premium Payment: Yearly, half-yearly, quarterly & monthly

• Maximum Entry Age: 55 years (nearer birthday)

• Maximum Age at Maturity for Life Assured: 70 years

• Minimum Accident Benefit Sum Assured is Rs 10,000

• Accidental Death & Disability Benefit Rider is available on payment of additional premium.

• Minimum entry age for the rider is 18 years.

• Maximum Accident Benefit Sum Assured is an amount equal to the Basic Sum Assured subject to the maximum of Rs 1 Cr.

Benefits:

• On Survival : On survival Basic Sum Assured + Loyalty Addition if any.

• On Death before completion of 5th policy year: “Sum Assured”

• On Death after completion of 5th policy year: “Sum Assured + Loyalty Addition if any.”

• Where ‘Sum Assured on Death’ is defined as the higher of
i. 10 times of Annualised Premium, OR
ii. 105%of all Premiums paid as on death

• Income Tax Benefit: Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).

• Surrendered Value: The Policy can be surrendered at any time during the policy term provided at least 3 full years premiums have been paid.

• Loan : Loan Facility is available under this plan, after payment of premiums for at least 3 full years.

source: licindia, licallinonecalc

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