LIC Jeevan Surabhi 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
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
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 |
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 |
At the maturity of the policy, the insured will get the accrued Bonus
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
| 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 | 25 |
| Age at Maturity (in years) | - | 70 |
| Premium (in Rs.) | Nothing Specified | |
| Payment modes | Yearly, Half-yearly, Quarterly, Monthly and SSS | |
FAQs
What if policy holder stop paying 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.
What if policy holder 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.
What if policy holder want a loan against your policy ?Loan facility is available under this policy.
