LIC Jeevan Surabhi 25 Years

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LIC Jeevan Surabhi Plan 25 years

 

LIC Jeevan Surabhi Plan 25 years is a simple Money Back Plan with pre defined survival benefits. This is a non unit-linked insurance traditional plan. The Premium is paid for only 18 years but the cover remains for the entire tenure of 25 years. If the Life Insured survives then he would receive 20% of the Sum Assured at the end of 4, 8, 12, 15 and 18 years and life cover continues till the policy matures where she would receive the Bonus. However, if the Life Insured dies within the policy tenure, then the nominee would receive the Sum Assured, which keeps increasing by 50% once in every 5 years. 

 

 

Key Features of LIC Jeevan Surabhi Plan 25 years

 

  • Death Benefit increases by 50% once in every 5 years
  • Simple Reversionary Bonus is payable on Policy Maturity
  • Survival Benefit is receive 20% of the Sum Assured at the end of 4, 8, 12, 15 and 18 years and life cover continues till the policy matures
  • Extended risk cover for three years after 7 years premium payment.
  • Optional higher cover through Riders

     

Benefits you get from LIC Jeevan Surabhi Plan 25 years

 

Death Benefit – In case of death of the Life Insured, the nominee receives the following + accrued Bonus

Policy Term Total 15 years

Death Benefit

0 to 5 years

Only Sum Assured

6 to 10 years

1.5 times Sum Assured

11 to 15 years

2 times Sum Assured

16 to 20 years

2.5 times Sum Assured

21 to 25 years

3 times Sum Assured

 

Survival Benefit – The Life Insured would receive The following Survival Benefit

Policy Term Total 15 years

Survival Benefit

End of 4 years

20% of Sum Assured

End of 8 years

20% of Sum Assured

End of 12 years

20% of Sum Assured

End of 15 years

20% of Sum Assured

End of 18 years

20% of Sum Assured

 

 

Maturity Benefit – At the maturity of the policy, the insured will get the accrued Bonus

 

Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D)

 

 

Eligibility conditions and other restrictions in LIC Jeevan Surabhi Plan 25 years

 

 

Minimum

Maximum

Sum Assured (in Rs.)

50,000

No Limit

Policy Term (in years)

25 years

Premium Payment Term (in years)

18 years

Entry Age of Life Insured (in years)

14

45

Age at Maturity (in years)

-

70

Premium (in Rs.)

Nothing Specified

Payment modes

Yearly, Half-yearly, Quarterly, Monthly and SSS

 

 

Sample illustration of premium of LIC Jeevan Surabhi Plan 25 years

 

The below illustration is for a healthy Male (non-tobacco user) opting for a

Age = 30 years, 35 years and 40 years

Sum Assured = Rs 1,00,000 which rises to Rs 3,00,000 by the end of the 25th year

Policy Term = 15 years.

LIC Jeevan Surabhi 25 years Sample Premium Values

 

Additional Features and Benefits of LIC Jeevan Surabhi Plan 25 years

 

Riders- There is 1 additional rider in this plan

·         Accidental Death Benefit Rider of Re 1 per Rs 1000 Sum Assured.

 

 

What happens if?

 

You stop paying the premium – If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions.

 

You want to surrender the policy – There is a Guaranteed Surrender Value after 3 policy years
Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium

 

You want a loan against your policy – Loan facility is available under this policy

 

 

Alternate Money Back Insurance Plans from different insurance companies

 

1.     Met Sukh Plan from MetLife

2.     ICICIPru Cashbak

3.     BSLI Money Back Plus Plan

 

 

Other Money Back Insurance Plans from Life Insurance Corporation of India

 

1.     LIC Money Back Policy-20 Years  

2.     LIC Money Back Policy-25 Years

3.     LIC Jeevan Surabhi-20 Years

4.     LIC Jeevan Surabhi-15 Years

5.     LIC Bima Bachat

 

~ By Deepak Yohannan
Note: This is a statement of facts based on the information collected from the LIC Jeevan Surabhi 25 Years brochure and insurance company's website. It should not be construed as a Critical or Favourable LIC Jeevan Surabhi 25 Years Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.


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kindly guide me more about this policy.

By Kumar Nikhilesh on Jan 03, 2012 Reply

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