LIC’s Jeevan Sugam is a non-linked single premium par plan which provides for high level of death cover during the policy term and a Maturity Sum Assured along with Loyalty Addition, if any.
LIC JEEVAN SUGAM is a new product in the bouquet of Single Premium plans of LIC. LIC JEEVAN SUGAM plan is launched by LIC on 25th February 2013 . LIC JEEVAN SUGAM is expected to close 31st March 2013. The basic features of this plan are as follows:
1. IN LIC JEEVAN SUGAM Entry Age is from 8 yrs to 45 yrs.
2. LIC JEEVAN SUGAM is Single premium Plan
3. IN LIC JEEVAN SUGAM the Insurance cover will be 10 times of the premium.
4. The service tax 3.09% will be applicable on the single premium.
5. Loan will be available on this policy from day 1 @ 10.45% compounded half yearly.
6. Term, minimum premium, form no., maturity, back dating, surrender value, underwriting conditions and other miscellaneous conditions are yet to be declared.
Reasons to buy Jeevan Sugam
Closed ended plan – available for sale only for 45 days.
10 year single deposit scheme
Non-linked single premium plan
Tax free returns.
Income tax rebate under Sec.80 C
High risk cover – 10 times the deposit made
Attractive loyalty additions
High liquidity – loan upto 42% of the deposit made available from the first day of policy
Facility of assignment and nomination.
Ideal tool to plan for child’s education and marriage.
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