LIC’s Jeevan Rakshak Plan is a participating non-linked plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.
LIC’s Jeevan Rakshak Plan Table no 827 Features
LIC’s Jeevan Rakshak Plan is a Guaranteed Return or Traditional plan .This Policy not realted to equity market. Jeevan Rakshak Provide Maturity Benefit with Risk Cover. Basically LIC Jeevan Rakshak launched for Lower Income Group People because this Policy Provide Maximum Risk upto 2 Lakhs Rs. Only which Premium will be very Low. You can calculate Jeevan Rakshak Premium on LIC Jeevan Rakshak Premium Calculator .
LIC Jeevan Rakshak Plan Benefits
Death Benefit – If Person Dies during the Policy Tenure, the Nominee will get the Benefits which will be Basic Sum Assured or 10 times of Yearly Premium or 105% of all paid Premium .
Maturity Benefit – Maturity Benefit is equal to Sum Assured plus Loyalty Addition.
Income Tax Benefit – Income Tax Benefits available on Paid Life Insurance Premium under Section 80C & Maturity Benefit will also be tax free under section 10(10)D.
Rider Benefits – There are two optional rider with this policy.
- Accidental Death Rider.
Eligibility conditions and other restrictions in LIC Jeevan Rakshak Plan
- Sum Assured Minimum Rs. 75,000 & Maximum 2,00,000.
- Policy Term Minimum 10 years & Maximum 20 years.
- Minimum age of policy holder will be 8 years & Maximum 55 Years
- Maturity age will be 70 Years
- Payment modes will be Yearly , half-yearly , quarterly and monthly.
- Grace Period will 30 Days in yearly mode and 15 days in half-yearly,quarterly & monthly mode.
- Loan Facility available in this plan.
For more details please contact: +91 9551640358