LIC has launched a new single-premium policy called “Jeevan Sangam”. LIC Jeevan Sangram is a participating, non-linked, savings cum protection single premium plan. The plan will be open for sale for a maximum period of 90 days from the date of launch.
LIC Jeevan Sangam is idea for those who want to pay lump sum premium and get guaranteed returns plus have good risk coverage. The proposer will have an option to choose the Maturity Sum Assured. The single premium payable shall depend on the chosen amount of Maturity Sum Assured and age of the life assured.
Minimum Entry Age = 6 years
Maximum Entry Age = 50 years
Policy Term = 12 years
In case the age at entry of the Life assured is less than 8 years, the risk under this plan will commence from one day before the policy anniversary coinciding with or immediately following the age of 8 years. For those aged 8 years or more, risk will commence immediately.
Minimum Maturity Sum Assured is Rs. 75,000/- and higher maturity Sum Assured shall be in multiples of Rs. 10000/- with no Maximum Sum Assured limit. Loyalty Bonus will be payable as per rules. The sum at risk during the term under the plan is 10 times of the basic premium.
