LIC Jeevan Saral plan 165

Feature of plan:

This plan contains good features of the conventional plans and the flexibility of unit-linked plans.

It provides higher cover, smooth return, liquidity and considerable flexibility.

Under this plan, one has to choose the premium he wants to pay whereas in normal plans one chooses the S.A. Under this plan death cover will be the same irrespective of age at entry and term.

The sum payable at maturity however differs for different entry age and terms. This plan is very appropriate for employees seeking life cover through salary savings schemes.

LIC Jeevan Saral plan 165 Surrender value:

the policy can be surrendered after it has been in force for at least 3 full years. The surrender value will be greater than the guaranteed surrender value or special surrender value as given below:

Guaranteed surrender value (GSV):

The GSV will be equal to 30% of the total amount of premium paid excluding the premium for the first year and all the extra premiums and premiums for accident/term riders.

LIC Jeevan Saral plan 165 Special surrender value (SSV):

The special surrender value under the policy shall be paid as the sum of (a) and (b) gives as under discounted value or accumulated value, as the case may be, of the following: 80% of maturity S.A. if 4 years premium has been paid, 90% of the maturity S.A. if or more years but less than 5 years premiums have been paid and 100% of the maturity S.A. if 5 or more years premium has been paid. The loyalty additions, if any, as announced while declaring the results of the corporation’s valuation as of 31st March, immediately preceding the date of surrender.

Auto cover under LIC Jeevan Saral plan 165:

The plan offers auto cover for 12 months after the policy has been in force for a period of 3 years or more.

Flexible term under LIC Jeevan Saran plan 165:

The policyholder can choose a maximum term but can surrender at any time without any surrender penalty or loss.

Partial surrenders:

The plan will allow partial surrender from the 4th year onwards subject to certain conditions, for which please refer to the policy document. Due to the existence of the flexible term and partial surrender, the policyholder will enjoy a lot of liquidity under the plan. The plan also provides for 15 day free look period”.

Optional rider:

Term assurance rider, accidental death and disability benefit rider are available with the payment of an additional premium. Maturity sum assured (MSA): has to be calculated on the basic premium only, before mode rebate & death accident benefit.

To buy LIC New plans, call 9886568000