LIC Jeevan Mitra (Triple Cover Endowment Plan) is a unique plan which offers superior financial protection against death for the complete term of the plan. At the end of the policy term on survival, one can expect to be paid the maturity amount. For a comparatively lower cost, this policy provides a high risk cover. For a small additional cost, the policy offers a risk cover of up to 3 times the basic sum assured. Up to four times will be offered in the case of accidents.
Minimum age at entry | 18 years |
Maximum age at entry | 50 years |
Maximum Maturity age at entry | 70 years |
Plan type | Endowment Assurance plan |
Premiums | Payable through salary deductions, monthly, quarterly, half-yearly or yearly (according to what the policy holder opts for). The premium is payable throughout the term of the policy or until the premature death of the policy holder. |
Term | Minimum 15 yrs, Maximum 30 yrs |
If the customer chooses to, he/ she can pay an additional premium and avail optional benefits which will be added to the basic LIC endowment plan. This will provide extra protection.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
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