The
Life Insurance Corporation of India (LIC) launched ‘Jeevan Sugam’, a new non-
linked single premium plan on 25.02.13. The plan will be open for sale for a
maximum period of 45 days from the date of launch.
BENEFITS:
The
plan provides a risk cover of 10 times the single premium paid for a fixed term
of 10 years.
a. Death Benefit:
§ During
first 5 years – Basic Sum Assured i.e. 10 times the single premium (net of
service tax).
§ After
completion of 5 years – Basic Sum assured i.e. 10 times the single premium (net
of service tax) + loyalty addition, if any.
b. Maturity Benefit:
§ Maturity
Sum Assured along with Loyalty addition, if any.
c. Tax Benefit:
§ The
latest policy is also eligible for tax benefit u/s 80 C as per existing
provisions of income tax.
Note: The amount of
loyalty addition will depend on LIC’s claim experience.
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:
a.
Minimum Entry Age : 8 years (Completed)
b.
Maximum Entry Age: 45 years
c.
Minimum Sum to be invested: Rs. 60,000/-
d.
Maximum Sum to be invested: No upper limit.
e.
Minimum Maturity Sum Assured : Rs. 60,000/-
f.
Maximum Maturity Sum Assured : No Limit
