Another LIC Money Back policy Jeevan Kiran has brought in the market, its a new term plan from Life Insurance Corporation of India. After maturity, the premium amount is paid back.
Life Insurance Company (LIC) has launched a new term policy. It was brought in the name of Jeevan Kiran (Plan 870). It is a Non-Linked, Non-Participating Individual Savings and Life Insurance Plan (LIC Plan).
On completion of maturity, the premium amount is returned. If something happens during the policy period, the family members will be financially supported.
Generally, term policies do not refund the premium amount. In this plan, the insurance is guaranteed during the policy period and the premium amount is returned at the time of maturity.
LIC money back policy Eligibility (LIC Jeevan Kiran)
Minimum age for purchase of Jeevan Kiran plan is 18 years. For this Term plan the age is capped at 65 years. The minimum age for maturity is 28 years and the maximum age is 80 years.
This plan is available with a policy term of 10 years to 40 years. This policy can be purchased with a minimum sum assured of 15 lakhs.
Possibility to avail assured amount is not capped i.e no limit. While the minimum premium amount is Rs.3 thousand, the single premium is fixed at Rs.30 thousand. The premium amount can be paid once a year or every six months.
Best LIC policy Benefits (LIC Jeevan Kiran)
In Jeevan Kiran term insurance plan, if the policyholder survives, the premium amount will be refunded after maturity.
High premiums, amounts paid to riders and taxes are excluded from this. The same rule applies to regular as well as single premium.
LIC policy maturity calculator: After the maturity date the insurance coverage will be cancelled. If the policyholder dies during the coverage period after the commencement of the policy term, the sum assured will be paid to the family members. This amount is paid in lump sum or in installments over five years.
Other LIC policy details
Housewives and pregnant women are excluded from taking Jeevan Kiran plan. Women can take this plan only after six months of delivery.
Certain conditions apply if vaccinations related to Covid are not completed. There is a difference in premium rates for smokers and non-smokers.
LIC policy online payment: LIC Jeevan Kiran policy can be purchased directly through LIC website or through LIC agents.
Loan against LIC policy: Accidental death and disability benefit riders can be purchased along with this plan. No loan facility is available on the policy.
For complete details regarding Jeevan Kiran (870) plan visit LIC website.
https://licindia.in/lic-sjeevan-kiran-uin-no-512n353v01
