JEEVAN RAKSHAK PLAN
Lic Jeevan Rakshak plan is non-linked and a regular premium payment plan which offers you benefits without any medical exam and is provided to standard human being. 2 lacs is the limited amount of total sum assured from all the policies which are issued to a policyholder.
Min Basic Amount Assured: Rs 75,000
Max Basic Amount Assured: 2,00,000
Min Policy Time: 10 Years
Max Policy Time: 20 Years
Min Entry Age: 8 Years
Max Entry Age: 55 Years
Max Age at Maturity for Life Assured: 70 years
Premium Payment Mode: Monthly, Quarterly, Half-yearly, Yearly
The benefit of Accidental Death and Disability Rider is applicable on payment of additional premium.
Min entry age for the rider: 18 years
Min accident benefit sum assured: Rs 10,000
Max accident benefit sum assured: Rs 1 crore
LIC’S JEEVAN RAKSHAK PLAN BENEFIT
1 Survival Benefit: Basic Sum Assured + loyalty addition
2 Death Benefit: before completion of 5th policy year: sum assured
After completion of 5th policy year: Sum Assured + loyalty addition if any
Sum Assured is higher of 10 times of Annualized Premium or 105% of all Premiums paid on death.
3 Surrendered Value Benefit: the Policyholder can surrender his policy at any time during his policy term but the condition is that first three full years premium is paid.
4 Loan Benefit: After payment of premium for three full years than you can use loan facility.
5 Income Tax Benefit: Tax Rebate is available when you pay the premium under this plan section is 80c and under sec10(10D) maturity is free for this plan.