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
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 |
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 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.
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