LIC Jeevan Surabhi 20 Years

LIC Jeevan Surabhi 20 years Plan

LIC Jeevan Surabhi Plan 20 years is a 20 years Money Back Plan. This is a non unit-linked insurance traditional plan where the money is paid as pre-decided intervals. The Premium is paid for only 15 years but the cover remains for the entire tenure of 20 years. If the Life Insured survives then he would receive 25% of the Sum Assured at the end of 4, 8, 12 and 15 years and the 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 20 years

• Death Benefit increases by 50% once in every 5 years
• Simple Reversionary Bonus is payable on Policy Maturity
• Survival Benefit is receive 25% of the Sum Assured at the end of 4, 8, 12 and 15 years and life cover continues till the policy matures
• Extended risk cover for three years after 5 years premium payment.
• Optional higher cover through Riders

Benefits you get from LIC Jeevan Surabhi Plan 20 years

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

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

Check the Bonus rate of LIC Jeevan Surabhi 20 Years Policy

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 20 years

Sample illustration of premium of LIC Jeevan Surabhi Plan 20 years

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

Age = 30 years, 35 years and 40 years

Sum Assured = Rs 1,00,000 which rises to Rs 2,50,000 by the end of the 20^th year

Policy Term = 15 years.

Additional Features and Benefits of LIC Jeevan Surabhi Plan 20 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