LIC Policy: LIC’s new policy Jeevan Kiran Life Insurance (LIC Jeevan Kiran Life Insurance Policy) is giving double benefit to the investors. The holders of this policy get the benefit of saving and secondly they get the benefit of life insurance.
LIC Policy : LIC’s new policy Jeevan Kiran Life Insurance (LIC Jeevan Kiran Life Insurance Policy) is giving double benefit to the investors. The holders of this policy get the benefit of saving and secondly they get the benefit of life insurance. In case of untimely death of the insured during the policy term, up to 125% of the premium is paid to the family. Wherein, in case of survival till maturity, the total premium deposited is returned to the investor.
What is LIC’s Jeevan Kiran policy?
LIC had launched Jeevan Kiran Life Insurance Policy last month in the last week of July. It is a non-linked, non-participating individual savings plan as well as life insurance plan. The biggest advantage of LIC Jeevan Kiran Life Insurance Policy is that the policy holder is paid the total premium money on maturity.
How much amount will the family get on the death of the policyholder?
If the policyholder dies during the policy, the sum assured is returned. This payment will be on regular and single premium basis. The plan covers all types of deaths including accidental deaths except suicide during the first year.
Under Regular premium paying policy, in the event of death, 7 times the annualized premium or 105% of the total premiums deposited till the date of death or Basic Sum Assured will be paid. Under Single Premium Payment Policy, 125% of the Single Premium will be paid on death. Apart from this, the basic insurance amount will be paid.
