Jeevan Mangal Plan no. 198 by LIC OF INDIA
LIC’s Jeevan Mangal is a term assurance plan with return of premiums on maturity. “Jeevan Mangal” – the micro insurance product is customized to cater the distinct needs of the most vulnerable low income sections of Indian population.
Benefits:
Death Benefit:
On death during the term of the policy the Sum Assured under the basic plan is payable, provided the policy is kept in force.
Maturity Benefit:
On surviving to the date of maturity, an amount equal to the total amount of premium paid during the term of the contract excluding the accident benefit premium and all extra premium, if any, is payable ,provided the policy is kept in force.
Optional Rider:
Accidental Benefit Rider: On death arising as a result of accident during the term of the policy, an additional amount, equal to Accident Benefit Rider Sum Assured is payable.
Eligibility Conditions and Restrictions under this Plan:
Minimum age at entry : 18 years (completed)
Maximum age at entry : 60 years (nearest birthday)
Maximum age at maturity : 70 years (nearest birthday)
Term :10 to 15 years for regular premium. 10 years for single premium.
Minimum Instalment Premium: Rs. 15/-
Minimum Sum Assured: Rs. 10,000/-
Maximum Sum Assured: Rs. 50,000/-
(Sum Assured shall be in multiples of Rs. 1,000/-)
Mode of Premium Payment:
You can pay your insurance premiums Yearly, Half Yearly, Quarterly, Monthly including SSS, fortnightly, weekly and Single Premium. (Single premium is allowed for 10 year term only.)
Insurance acts as a primary financial aid to uncertain sorrowful events occurred.
Benefits:
Death Benefit:
On death during the term of the policy the Sum Assured under the basic plan is payable, provided the policy is kept in force.
Maturity Benefit:
On surviving to the date of maturity, an amount equal to the total amount of premium paid during the term of the contract excluding the accident benefit premium and all extra premium, if any, is payable ,provided the policy is kept in force.
Optional Rider:
Accidental Benefit Rider: On death arising as a result of accident during the term of the policy, an additional amount, equal to Accident Benefit Rider Sum Assured is payable.
Eligibility Conditions and Restrictions under this Plan:
Minimum age at entry : 18 years (completed)
Maximum age at entry : 60 years (nearest birthday)
Maximum age at maturity : 70 years (nearest birthday)
Term :10 to 15 years for regular premium. 10 years for single premium.
Minimum Instalment Premium: Rs. 15/-
Minimum Sum Assured: Rs. 10,000/-
Maximum Sum Assured: Rs. 50,000/-
(Sum Assured shall be in multiples of Rs. 1,000/-)
Mode of Premium Payment:
You can pay your insurance premiums Yearly, Half Yearly, Quarterly, Monthly including SSS, fortnightly, weekly and Single Premium. (Single premium is allowed for 10 year term only.)
Insurance acts as a primary financial aid to uncertain sorrowful events occurred.