
About Jeevan Rakshak
Jeevan Rakshak (Plan No. 827) is a regular premium paying Non-linked, With Profits,Endowment Assurance plan. This plan shall be available to standard lives only under non-medical limit and the total Sum Assured under all the policies issued to an Individual under this plan shall not exceed Rs. 2 lakhs.
Eligibility and Features
Min. Sum Assured | Rs. 75,000 |
Max. Sum Assured | Rs. 2,00,000/- (in multiple of Rs. 5,000 ) |
Min. age at entry | 8 years (completed) |
Max. age at entry | 55 years (Near Birthday) |
Max. age at maturity | 70 years (Near Birthday) |
Min. Term | 10 years |
Max. Term | 20 years |
Modes Allowed | Yly, Hly, Qly, Mly (ECS), SSS |
Policy Loan available | Yes |
Premium paid under the policy is exempted under section 80C of income tax. | |
Proposal Form No. 300 and 340 as the case may be used under this plan, which is subject to change. | |
Policy can be dated back within the same financial year. |
Benefits
DEATH BENEFIT:
First 5 years of Policy: Sum Assured on death.
6th year onwards: Sum Assured on Death + Loyalty additions if any.
Sum Assured on Death= Higher of Basic SA or 10 times of annualized Premium or 105% of total premiums paid as on date of death. The premiums exclude taxes, extra premium and rider premiums.
MATURITY BENEFIT:
Basic Sum Assured + Loyalty Additions if any.
OPTIONAL BENEFIT – Accidental Death Benefit Rider –
ADB is available as an optional rider by payment of additional premium during the term of the policy. If there be more than one policy with which this or any other rider covering Accidental Deaths is attached and if the total Accident Benefit Sum Assured Insure and under all such policies exceeds Rs.50 lakhs, the benefits shall apply to the first Rs. 50 lakhs Accident Benefit Sum Assured in order of date of policies issued. If this benefit is opted for,and if Life Assured is involved in an accident, leading to death and such incident shall occur within 180 days from the date of accident then an additional amount equal to the Accident Benefit Sum Assured is payable. However, the policy shall have to be in force at the time of accident irrespective of whether or not it is in force at the time of death.
Other LIC Plans
- LIC E Term
- LIC Aadhaar Stambh
- LIC Anmol Jeevan II
- LIC Amulya Jeevan II
- LIC Jeevan Rakshak
- LIC Bima Diamond
- LIC Micro Bachat
- LIC Jeevan Shagun
- LIC Jeevan Umang
- LIC Jeevan Utkarsh
- LIC New Bima Bachat Plan
- LIC New Money Back Plan 25 Years
- LIC New Money Back Plan 20 Years
- LIC New Endowment Plus Plan
- LIC Jeevan Arogya
- LIC Jeevan Pragati Plan
- LIC Jeevan Shikhar Plan
- LIC Jeevan Labh Plan
- LIC Jeevan Lakshya Plan
- LIC Limited Premium Endowment Plan
- LIC Jeevan Sangam
- LIC New Jeevan Anand Plan
- LIC New Endowment Plan
- LIC Single Premium Endowment Plan
- LIC Navjeevan Plan
- LIC Jeevan Tarun Plan
- LIC's New Children Money Back Plan
- LIC Varishtha Pension Bima Yojana
- LIC Jeevan Akshay Plan
- LIC New Jeevan Nidhi Plan
- LIC Jeevan Saral
- LIC Jeevan Shanti
- LIC Jeevan Shiromani
- LIC Jeevan Saathi
- LIC Komal Jeevan
- LIC New Term Assurance Rider
- LIC's Critical Illness Benefit Rider
- LIC Pradhan Mantri Vaya Vandana Yojana