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Srivasu

Question

Hi Sir, My brother is having LIC jeevan mitra triple cover policy from 2005. from past one year he is surrering in mental disorder and not doing any job. please tell me for this disability can we claim the policy or is it ok to pay the premiums till maturity. Please advise

Asked By: Srivasu
On: 27th Jun 2012 11:47 AM
Answered Within: 22 Hours

MIC Expert

Answer

Dear Srivasu,

As far as mental disorder is concerned, it is not considered under Critical Ailment and thus the policy needs to be continued till the end of the policy tenure.

If additional rider benefits has been availed, then Accidental Death and Critical Illnesses are covered and not otherwise.

Normally, this policy pays for death only. Death Benefit is double the Sum Assured + accrued Bonus for Double Cover Endowment Plan and it is triple the Sum Assured + accrued Bonus for Triple Cover Endowment Plan. Also the Maturity Benefit is basic Sum Assured + accrued Bonus.

Click here for Complete Review of LIC Jeevan Mitra Plan

Answered By: MIC Expert
On: 28th Jun 2012 10:25 AM

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