LIC Jeevan Sugam Plan is a one time single premium, Non-ULIP plan. Launch date: February 25th, 2013 and this offer will only be opened for a limited period of 45 days. This policy if best for the people who have money saved in their home or who likes to save it in a bank for interest. The unique about this plan is one can get 10 times risk cover throughout the 10 years of the policy along with maturity sum assured.

Example: If a person paid 1 lakh as a single premium then after 10 years he will get Rs 207000+loyalty bonus. In case of natural or accidental death of the policy holder, their nominee will get 10 lakhs + loyalty bonus. Ref.

Lic Jeevan Sugam

LIC Jeevan Sugam Requirements and Conditions

Minimum age: 8 years completed. (Form 300 up to 18 years)

Maximum age:  Up to 45 years. (Form no. 340 for above 18 years)

Guaranteed Maturity Sum Assured: Minimum – 60000 with NO maximum limit.

Risk Cover = 10 times of the single premium paid.

LIC Jeevan Sugam Death Cover:

  • If death of the policy holder occurred within 5 years of LIC Jeevan Sugam policy start date then an amount of 10 times of the single premium will be paid to the nominee.
  • If death of the policy holder occurred after complete 5 years of the LIC Jeevan Sugam policy start date then an amount which is 10 times of the single premium paid + Loyalty bonus will be paid to the nominee.

lic jeevan sugam table 813Surrender:

The policy holder can surrender their  policy at any time.

  • If surrendered within 1 year from the policy start date then 70% of the single premium paid will be refundable.
  • If surrendered after complete 1 year then 90% of the premium paid will be refundable.

 Loan:

Loan is available on LIC Jeevan Sugam policy at 10.45% rate of interest compounded half yearly.

NOTE:

For people with 46 years of age and want this policy. Back dating can be done in the same financial year and interest rate be charged is 10 % per annum. This plan is available till March 31st, 2013. Download RR chart for LIc Jeevan Sugam and Lic Jeevan Sugam Calculator for Jeevan Sugam. Click here for more details.

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