 |
 |
| |
|
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.
Death benefit:
In case of death of the
policyholder during the policy term provided all due premiums have been
paid, “Sum Assured on Death” shall be payable, which is the highest of
- Basic Sum Assured or
- 10 times of annualized premium or
- 105% of all the premiums paid as on date of death.
The premiums defined above exclude service tax, extra premium and Accident Benefit rider premium, if any.
In addition to the above, Loyalty Addition, if any shall also be payable if death occurs after completion of 5th policy year.
Maturity Benefit:
Basic Sum Assured, along with Loyalty Addition, if any, shall be
payable in lump sum on Survival to the end of the policy term provided
all due premiums have been paid.
Participation in Profits:
Provided the policy is in full force, then depending upon the
Corporation’s experience the policies under this plan will be eligible
for Loyalty Addition. The Loyalty Addition, if any, is payable at such
rate and on such terms as may be declared by the Corporation, on death
after completion of 5th policy year or on Policyholder surviving to the
maturity.
LIC’s Accident Benefit Rider:
Accident Benefit Rider is available as an optional rider by payment of
additional premium. In case of accidental death, the Accident Benefit
Sum Assured will be payable as lumpsum along with the death benefit
under the basic plan
|
|
|
