LIC Jeevan Surabhi 15 Years
LIC Jeevan Surabhi Plan 15 years is actually a Money Back Plan, which is technically known as an anticipated endowment policy.
This is a non unit-linked insurance traditional plan where the money is paid as pre-decided intervals. The Premium is paid for only 12 years but the cover remains for the entire tenure of 15 years. If the Life Insured survives then he would receive 30% of the Sum Assured at the end of 4 and 8 years and the remaining 40% of the Sum Assured at the end of 12 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.
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LIC Jeevan Surabhi 15 Years - Key Features
LIC Jeevan Surabhi 15 Years - Benefits
In case of death of the Life Insured, the nominee receives the following + accrued Bonus The Life Insured would receive The following Survival Benefit At the maturity of the policy, the insured will get the accrued Bonus There is 1 additional rider in this plan 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) 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. There is a Guaranteed Surrender Value after 3 policy years Loan facility is available under this policy...
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Accidental Death Benefit Rider of Re 1 per Rs 1000 Sum Assured.Income Tax Benefit
LIC Jeevan Surabhi 15 Years - FAQs
Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium
