LIC’s Jeevan Sangam policy launched

Excelsior Correspondent
JAMMU, Mar 6: Life Insurance Corporation (LIC) of India launched “LIC’s Jeevan Sangam” policy.
The policy was launched by TT Kabui, Zonal Manager, LIC of India North Zone.
While launching the policy, Kabui said that this is a participating, non-linked, saving cum protection single premium plan wherein the risk cover is a multiple of single premium.
He added that the proposer will have an option to choose the maturity sum assured. The single premium payable (exclusive of service Tax) shall depend on the chosen amount of maturity sum assured and age of the life assured.
The plan will be open for sale for a maximum period of 90 days from the date of the launch, he stated.
Kabui further informed that this single premium plan is available from ages 6 years to 50 years with certain conditions. Incase the age at entry of the life assured is less than 8 years, the risk under this plan will commence from one day before the policy anniversary coinciding with or immediately following the age of 8 years. For those aged 8 years or more, risk will commence immediately.
“This single premium plan is has policy term of 12 years, the minimum maturity sum assured is Rs 75,000 and higher maturity sum assured shall be in multiples of Rs 10,000 with no maximum sum assured limit. Loyalty bonus will be payable as per rules. The sum at risk during the term under the plan is 10 times of the basic premium”, he added.

Follow our WhatsApp channel