LIC launches Single Premium Jeevan Shagun Plan

Last Updated: Oct 29, 2014 | 6,137 Views

Life Insurance Corporation (LIC) of India announced the launch of their new single premium plan called Jeevan Shagun. LIC Jeevan Shagun is a participating, non-linked insurance plan.

Under this plan, 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.

At the end of 10th policy year, 15% of the sum assured will be paid and at the end of 11th year, 20% of the sum assured will be paid. On maturity, remaining 65% of the sum assured along with loyalty addition (if any) shall be paid.

The minimum age of entry under this plan is 8 years whereas maximum age is 45 years. While the minimum maturity sum assured is Rs. 60,000, there is no cap for maximum maturity sum assured. There is only one policy term of 12 years and the premium payment mode is single premium only. Tax benefits, as applicable under Income tax laws, are available under this plan.

Click here to read the full details of LIC Jeevan Shagun >>