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LIC to launches Jeevan Shikhar
Posted on: 12/Jan/2016 10:31:53 AM
A close ended plan, LIC`s Jeevan Shikhar is being introduced by LIC. This plan would be open for sale from 11th January up to 31st March 2016. The Plan is a non linked, with profits, single premium plan wherein the risk cover is ten times of Tabular Single Premium. The Plan is available from ages 6 years to 45 years.
Under this plan, the proposer/Life assured will have an option to choose the Maturity Sum Assured and the single premium payable will depend on the chosen amount of Maturity Sum Assured and the age of the assured.
Minimum Maturity Sum Assured is Rs. 100,000/- with Maximum Basic Sum Assured having no limit. Maturity Sum Assured shall be in multiple of Rs 20.000/- only. The Policy term will be for 15 years.
On the policy holder surviving to the end of the policy term the Maturity Sum Assured along with Loyalty Addition , if any, shall be payable. In case of death of the Life Assured during first five policy years and after commencement of risk Sum Assured on Death equal to 10 times the Tabular Single Premium shall be payable.
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