LIC JEEVAN UTKARSH (TABLE NO-846) one of the best plan for those mostly search and invested in single premium plan. Jeevan utkarsh plan is a basically single premium with 12 years fixed maturity term. On maturity costumer get Loyalty Addition (with profit). In case of death during the policy term 10 times of Paid premium + Loyalty Addition (if any) will be death claim amount. Jeevan utkarsh plan settlement feature option of 5, 10 and 15 years. So if policy holder does not not want to received maturity or death claim amount in one go, costumer has option for equal amount over period of 5, 10 and 15 years.
- Single premium plan
- 10 times risk cover of premium
- 5, 10 and 15 years settlement option
- U/S 80c rebate available
- U/S 10(10d) effects on maturity (tax free amount)
- Good returns
If the Life Assured surviving to the end of the policy term, “Sum Assured on Maturity” along with Loyalty Addition (LA), if any, will be payable. Where “Sum Assured on Maturity” is equal to Basic Sum Assured.
- If death occurs within the first 5 years of policy If death occurred before the commencement of risk, then LIC will refund the single premium without any interest on it. Also, this refund of single premium will not include any taxes, extra premium chargeable under the policy due to underwriting decision and rider premium, if any.
If death occurred after the commencement of risk, Sum Assured will be payable to nominee without any additional benefits.
- If death occurs after the 5th years of policy and before maturity
Sum assured which is equal to 10 times of your single premium and Loyalty Addition will be payable to the nominee.
Sum Assured at death will be highest of the below
125% of the single premium; or
Guaranteed Sum Assured on Maturity i.e. Basic Sum Assured; or
10 times of Single Premium
|AGE OF ENTRY||6 YEARS -47 YEARS|
|PREMIUM PAYING MODE||SINGLE PREMIUM|
|TERM||FIXED 12 YEAR|
|MINIMUM SUM ASSURED||75000|
|MAXIMUM SUM ASSURED||NO LIMIT|
|SURRENDER OPTION||AVAILABLE AFTER 3 MONTHS|
|LOAN AGAINST POLICY||AVAILABLE AFTER 3 MONTHS|