LIC Jeevan Rakshak Plan (827)

LIC launch a new traditional plan name Jeevan Rakshak.This plan is best suitable for lower income person. Because In this plan maximum Sum Assured is 200000 and minimum is 75,000.So,You are already understand that premium is also less.

Death benefit

In case of death of the policyholder during the policy term provided all due premiums have been paid, “Sum Assured on Death” shall be payable, which is the highest of

• Basic Sum Assured or
• 10 times of annualized premium or
• 105% of all the premiums paid as on date of death.
• Loyalty addition also payable if death occurs after 5 years.

MaturityBenefit: Basic Sum Assured, along with Loyalty Addition, if any, shall be payable in lump sum on Survival to the end of the policy term provided all due premiums have been paid.

Optional Benefit:

LIC’s Accident Benefit Rider:  Accident Benefit Rider is available as an optional rider by payment of additional premium. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basicplan