Presentation on theme: "Lic Jeevan Sangam – T 831 Presented by www.policydunia.com."— Presentation transcript:
Lic Jeevan Sangam – T 831 Presented by www.policydunia.com
Lic Jeevan Sangam – T 831 Contents Introduction Eligibility Conditions Maturity Benefit Death Benefit Rebates Other Benefits
Lic Jeevan Sangam-T 831 Introduction Lic Jeevan Sangam Plan is a Non linked, with profit Single Premium plan which provides high level of death cover during the policy term. Lic Jeevan Sangam T 831 is only available for 90 days from 4-3-2015 to 1-6-2015.
Lic Jeevan Sangam - T 831 Eligibility Conditions Entry Age: Minimum: 6 years (completed) Maximum: 5o years (nearest birthday) Policy Term:12 Years Premium Payment Mode:Single Premium Maturity Sum Assured (MSA): Minimum: Rs. 75,000/- Maximum: No limit MSA shall be in multiple of Rs. 10,000/-
Lic Jeevan Sangam – T 831 Maturity Benefit Maturity Benefit is that, the amount payable to the life assured on surviving to the end of the policy term. Under Lic Jeevan Sangam policy, on survival of the Life Assured till the end of policy term, Maturity Benefit = Maturity Sum Assured + Loyalty Addition, if any
Lic Jeevan Sangam – T 831 Death Benefit On death of the life assured during the first 5 policy years, Before Date of Commencement of Risk: Death Benefit = Refund of Single premium - Service Tax and Extra Premium, if any, without interest. After Date of Commencement of Risk: Death Benefit = Basic Sum Assured (i.e., 10 times the tabular Single Premium)
Lic Jeevan Sangam – T 831 Death Benefit (Cont.) On death of the life assured after the completion of 5 policy years but before the date of maturity, Death Benefit = Basic Sum Assured (i.e., 10 times the tabular Single Premium) + Loyalty Addition, if any.
Lic Jeevan Sangam – T 831 Rebates Under Lic Jeevan Sangam Plan there is a rebate for High Maturity Sum Assured. Maturity Sum Assured (MSA) chosen under the policy Reduction in Tabular Premium (per Rs. 1000/- MSA) Below Rs. 2,00,000/-Nil Rs. 2,00,000/- to Rs. 3,90,000/-Rs. 15.00/- Rs. 4,00,000/- and aboveRs. 20.00/-
Lic Jeevan Sangam – T 831 Other Benefits Surrender Value: Policy can be surrendered at any time during the policy term. If it is surrendered after completion of 5 years, Loyalty Addition, may also be payable. Loan: It is allowed after 3 months. Guaranteed Income Tax exemption under 80C. Guaranteed Tax Free Maturity under 10(10D).