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LIC launches Jeevan Shagun plan
Posted on: 02/Sep/2014 10:12:00 AM
The Life Insurance Corporation of India (LIC) on Monday launched a new plan ‘Jeevan Shagun,’ which is being rolled out across the country.
FEATURES OF JEEVAN SHAGUN
- Single premium MONEY BACK closed ended Policy (90-days only)
- Term is 12 years
- Survival Benefit @ 15% MSA at the end of 10th year
- @ 20% MSA at the end of 11th year
- @ 65% MSA on Maturity along-with LA
- Loan & Surrender available from 2nd year onwards
- Death claim within 5 years: 10 times of Tabular SP
- Death Claim after 5 years: 10 times of Tabular SP + LA
- Agents commission: 2%
- Surrender at any time.
- GSA: 1st yr 70% of tab SP. 2nd yr onwards 90%.
- Special Surrender Value.
- After 5yrs with Loyalty Addition
- Eligibility: For 8yrs completed to 45 yes nbd.
- Maturity SA: Minimum 60,000 and Max no limit
- Rebate: on 1000 MSA reduction in tab SP
- <1,50,000 : Nil
- 1.5 to 3.95 lacs : Rs.15
- 4 lacs & above : Rs.20
Premium example
- Age 8 Yrs MSA Rs.1,00,000=Rs.50,880.
- Age 20 Yrs MSA Rs.1,00,000=52,390.
- Age 25 Yrs MSA Rs.1,00,000=Rs.52,803.
- Age 30 Yrs MSA Rs.1,00,000=Rs.53,736.
- Age 35 Yrs MSA Rs.1,00,000=Rs.56,019.
- Age 40 Yrs MSA Rs.1,00,000=Rs.61,380.
- Age 45 Yrs MSA Rs.1,00,000=Rs.74,106
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