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LIC Jeevan Vriddhi Plan

Sample Premiums for this plan
Healthy | (non-tobacco) | Male | Policy term = 10 years
1.94 Lakhs Cover
1,00,000
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Death Benefit
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Maturity Benefit
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Incentive for High Premium

LIC Jeevan Vriddhi Plan is a Single Premium Endowment Plan with Guaranteed Maturity Sum Assured. Thus, this plan is a Traditional Plan without Bonus Facility.

Compare this plan with other Investment Plans

LIC Jeevan Vriddhi Plan - Key Features

This is a Traditional Plan without Bonus Facility and both Death and Maturity Benefit
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This is a single premium plan
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The Sum Assured is paid as Death Benefit
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Guaranteed Maturity Sum Assured + Loyalty Additions would be paid as Maturity Benefit
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This plan provides incentive for High Premium of
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  • Rs 50,000 to Rs 99,000 - There would an increase of 1.25% of the Maturity Sum Assured
  • Rs 1,00,000 and more - There would an increase...

The Guaranteed Maturity Sum Assured would be calculated as per the age of entry of the Life Insured.
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Riders
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There are No Additional Riders available:

LIC Jeevan Vriddhi Plan - Benefits

Death Benefit

In case of death of the Life Insured within the policy tenure, the nominee receives the basic Sum Assured as Death Benefit

Maturity Benefit

At the maturity of the policy, the Life Insured will get Sum Assured + Loyalty Additions as declared by the company as Maturity Benefit.

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 (10...

How LIC Jeevan Vriddhi Plan works

In this plan, premium needs to be paid up front. Single Premium is the only mode available. The Sum Assured is 5 times the Basic Single Premium paid. This plan has a fixed tenure of 10 years although there is Surrender Facility and Loan Facility after 1 policy year.

If the Life Insured dies within the Policy Tenure, the Sum Assured is paid as Death Benefit. However, if the Life Insured survives till the end of the policy tenure, Guaranteed Maturity Sum Assured + Loyalty Additions would be paid as Maturity Benefit. The Guaranteed Maturity Sum Assured would be calculated as per the age of entry of the Life Insured.

Eligibility conditions and other restrictions in LIC Jeevan Vriddhi Policy

  Minimum Maximum
Sum Assured (in Rs.) 1,50,000 No Limit
Policy Term (in years) 10
Premium Payment Term (in years) Single
Entry Age of Policyholder 8 50
Age at Maturity - 60
Single Premium (in Rs.) 30,000 No Limit
Payment modes Only Single

LIC Jeevan Vriddhi Plan - FAQs

angle right iconYou stop paying the premium

Being a Single Premium Plan, there is no further requirement of premium payment

angle right iconYou want to surrender the policy

There is a Guaranteed Surrender Value after 1 policy year
Guaranteed Surrender Value = 90% of basic Single Premium paid

There is a provision of Special Surrender Value as well.

angle right iconYou want a loan against your policy

Loan facility is available under this policy after 1 policy year