LIC Jeevan Varsha – Life Insurance Corporation (LIC) – Last date 31st March, 2009
The Life Insurance Corporation (LIC) has launched Jeevan Varsha, a close-ended guaranteed additions plan, which is open for sale from February 16 to March 31. It is a ‘money back plan’ with only two policy terms of 9 years and 12 years. The survival benefits are payable every three years. Any person who has completed 15 years can buy the policy. The maximum age at maturity will be 75 years. The plan has provisions for loan, surrender and revival.
LIC’s Jeevan Varsha is a close ended Money Back Plan with Guaranteed Additions. The plan provides for periodical payments of a proportion of Sum Assured at specified durations, on survival during the term of the policy and on maturity. The Plan provides for payment of Sum Assured on death. Guaranteed Additions are payable on death and Maturity. Loyalty Additions may also be payable during the last year of the policy on both maturity and death.
The plan will be open for purchase from 16th February, 2009 to 31st March, 2009.
The plan will be open for purchase from 16th February, 2009 to 31st March, 2009.
ELIGIBILITY CONDITIONS
- Minimum Entry Age: 15 years (completed)
- Maximum Entry Age: 66 years (Nearest Birthday) for 9 years term policy and 63 years (Nearest Birthday) for 12 years term policy
- Policy Term : 9 years & 12 years
- Premium Paying Term: 9 years
- Maximum Maturity Age: 75years (Nearest Birthday)
- Minimum Sum Assured: Rs. 75,000/- for monthly ECS mode: Rs. 50,000/- for other modes
- Maximum Sum Assured: No limit
- (Sum Assured shall be in multiples of Rs.5,000/-)
- PREMIUM PAYMENT MODES: Yearly, Half-Yearly, Quarterly, Monthly (by ECS mode only).
Tags: insurance, Insurance Policy, LICRead full details on LIC website
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